There has been no shortage of DOGE-related news in recent weeks. Just last week, after Tesla’s multibillionaire CEO, Elon Musk, tweeted yet again about the cryptocurrency, the price of Dogecoin soared. In the wake of its recent success, many investors have been asking the same question: how do I buy Dogecoin stock?
Now, one of Europe’s most popular trading platforms, eToro, has started to support Dogecoin. As a result, the coin has reached an all-time high price of $0.41, and it shows no sign of slowing down. Could Dogecoin really be the next Bitcoin or Ethereum?
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So, given the excitement surrounding Dogecoin, we thought it would be helpful to release a short guide explaining how to buy Dogecoin with eToro. If you want to invest in Dogecoin stock, this is the page for you.
How to buy Dogecoin with eToro
Before we start our simple step-by-step guide on how to buy DOGE with eToro, let’s quickly clear something up. Today, some of the most popular search terms online have been ‘where to buy Dogecoin stock,’ ‘how to invest in Dogecoin stock’ and ‘where are the best places to buy Dogecoin stock.’ Before you invest in DOGE, you need to be clear about one thing: Dogecoin is a cryptocurrency, not a stock.
Now we’ve explained that, let’s jump into our explanation of how to buy DOGE with eToro.
Step 1. Sign up with eToro
As one of Europe’s top trading platforms, eToro has established a reputation as one of the best online brokers around. Its user-friendly interface and wide selection of investable assets have made it a favourite within our team of financial analysts. If you want to buy Dogecoin with eToro, now is your chance.
Step 2. Fund your account
You can fund your eToro account with fiat money like GBP. Simply choose your source of funds, decide how much you want to deposit, and complete the transaction. Handily, eToro does not charge its users a deposit fee.
Step 3. Buy DOGE
Now your account is set up and funded, you are ready to buy DOGE. To do this, simply find the appropriate currency pair on the exchange. So, if you are using GBP, look for the DOGE/GBP pair.
Enter how much DOGE you want to buy and finalise your transaction. You are now an owner of Elon Musk’s favourite cryptocurrency, Dogecoin.
If you are keen to buy Dogecoin but lack the fundamental knowledge needed to make informed investment decisions, check out our beginners’ guide to buying Dogecoin. Moreover, if investing in Dogecoin is difficult to understand, complete our beginners’ crypto course to set yourself on the right path.
What is Dogecoin?
Dogecoin – also known as DOGE – is an increasingly popular cryptocurrency based on the renowned internet meme, Doge. The meme features a funny-looking Shiba Inu dog, and that is why the fluffy canine takes pride of place on Dogecoin’s logo.
The coin was originally founded back in 2013 by a software development pair, Jackson Palmer and Billy Markus. The inspiration for the currency was humour, and it was primarily intended to be a joke about the accelerating popularity of altcoins, though the rapid growth of Dogecoin is now far from a laughing matter.
Beyond its meme status, there are some technical components of DOGE that provide it with fundamental value. It is a popular cryptocurrency for tipping online content creators, and importantly, it addresses some of the scalability issues present with Bitcoin.
Having now established itself as a well-known altcoin, and with Musk as its chief cheerleader, it really does seem like the sky is the limit with DOGE.
Will Dogecoin rise in price?
In the world of investment, there are never any guarantees. Moreover, given the unconventional nature of Dogecoin, it is especially difficult to project its value with any sort of certainty.
However, with governments around the world now directing their attention and budgets towards blockchain technology, and with a community of loyal coin holders, Dogecoin could be primed for even more growth in the near future. If you ‘hodl’ Dogecoin, you could be onto a winner.
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For more information on DOGE and similar and cryptos, make sure you check out our latest crypto news.