Dogecoins can be generated by mining, but if you don’t want to mine Dogecoin and still want to own them, then you can buy them. Yes, you can buy them from cryptos exchanges with fiat currencies. If you don’t know how you can buy them, then follow my guide:
Buying Amount
You need to decide first how Much Dogecoin you want to buy. That is because you have to invest the amount that will be suitable for you. I will advise you to invest the amount of money that you can afford to lose. Now, there are many rumours that say people who have brought a massive amount of dogecoin are billionaires now. But it’s a myth. You should buy an amount that won’t affect you much if you lose that. You have to be more careful when you are investing in Dogecoin because it’s more volatile for its unlimited supply, and it suffers from inflation very often.
Choosing a Crypto Exchange
The most suitable place to buy dogecoin is from crypto exchanges. You will find Dogecoins on almost all crypto exchanges. But you need to find the most suitable crypto exchange platform that is because not all of them are reliable and authentic. Some are full of scammers and frauds. That’s why you should go to the top and well-known exchange platform that has a good reputation for exchanging Cryptos, for example, Binance.
Payment Options
So, you have chosen a crypto exchange platform and are now ready to buy Dogecoin. But you have to register on that platform first with all your details, and the most important thing is the payment option. In order to buy dogecoin or other cryptos, you will need funds on that exchange platform. That’s why you have to deposit money. You can deposit money with various options like bank transfer, wireless money transfer, using PayPal, Mastercard, and others as well. On the other hand, some crypto exchange allows traders to use credit and debit cards for buying Dogecoins and other cryptos.
Place Your Order
You now have an account on the crypto exchange and money on the account too. You are all ready to buy Dogecoin. So, you have to go to the asset section and find Dogecoin. You search that on the search box. When you find the symbol DOGE and see the Dogecoin logo, you have to click on that open Dogecoin section. Inside that section, you will find a buying option and rates and how much you want to buy when you fill in all those sections. Now press the buy button, and your request has been sent.
Storing Dogecoins
If you have successfully brought Dogecoin, then those will be stored on the default storage of the crypto exchange that you are using. But that storage is connected to the internet, so that’s very vulnerable to attacks. You should buy a cold wallet so that you can store those Dogecoins so that no hackers or anyone besides you can access your Dogecoins.