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How to Buy Dogecoin If Youre Lost and Dont Know Where to Start

Image for article titled How to Buy Dogecoin If You're Lost and Don't Know Where to Start

Photo: Igor Faun (Shutterstock)

It seems like we’re on this cryptocurrency roller coaster for the long haul. One name you probably see popping up often is Dogecoin, represented by the classic Shiba Inu Doge meme. Dogecoin started in 2013 as a joke, but despite its origins, it’s now worth actual money and favored by Elon Musk and Mark Cuban. And you, too, can get into DOGE, even if you’re a cryptocurrency newbie.

Where to buy Dogecoin

We’ve got a whole guide to buying crypto on various exchanges, including Coinbase and Kraken. You can also purchase DOGE on Binance and Gemini, as well as a handful of other apps listed in this r/dogecoin thread. When you buy on these platforms, you can actually send and receive Dogecoin from a personal wallet.

Alternatively, you can trade in DOGE via a handful of online brokerages, including Robinhood, Webull, eToro and SoFi Active Investing. This route is if you simply want to speculate but not use Dogecoin, as you won’t actually own any DOGE and or be able to withdraw coins to a wallet.

Also note that different exchanges and brokerages have different fee structures and may accept only certain currencies—another cryptocurrency versus a fiat currency like the US dollar—for purchasing Dogecoin. Before you choose your approach, you’ll want to check how much their transactions will cost and how many steps they’ll take.

Finally, it must be said: The cryptocurrency market is volatile and complex, and this info in no way constitutes financial advice. Do your own research before you spend your money. Dogecoin has a very active subreddit and a Discord community for those looking for specific DOGE support.

If this is all sounding very complicated, that’s because it is, kind of. But if you’re ready to dive into DOGE, here’s a quick guide to getting started.

How to set up a personal wallet

Technically, you can buy and keep your cryptocurrency on an exchange, but the safest way to store your coins is to withdraw them to a personal wallet. Cryptocurrency wallets can be either digital or physical—and specific to a currency or for general use—but they basically help secure your assets behind a private key.

Dogecoin has its own wallet, which you can download and set up with these step-by-step guides for macOS, Windows (32-bit and 64-bit), and Linux (32-bit and 64-bit), as well as for iOS and Android. However, if you want to get into crypto beyond DOGE, you may want to set up a generic wallet like Exodus or Ledger.

How to buy DOGE

All you have to do to actually buy Dogecoin is go to an exchange that sells it. You’ll need to set up an account, and the purchase process and what forms of payment you can use will vary from there. You should also make sure you can sync your wallet to move your coins off of the exchange, in case you want to do that.

Again, buying and trading cryptocurrency comes with risks, so proceed with caution, and don’t drop more money than you can reasonably afford to lose.