Dogecoin is a cryptocurrency that was created in 2013 as a joke by software engineers Billy Markus and Jackson Palmer. It was based on the popular “Doge” meme and had no real-world value. However, in recent years, Dogecoin gained a cult following, with its fun and lighthearted approach to cryptocurrency attracting a loyal community of supporters, and has become a significant player in the world of cryptocurrency.
In 2021, its value surged, and it became one of the most talked-about cryptocurrencies. It has gained massive popularity over the years and has even been endorsed by influential figures such as Elon Musk.
With the rise of Dogecoin, it is essential to choose a reliable and trustworthy crypto exchange to buy and sell it. In this article, we will discuss the top 3 crypto exchanges for buying Dogecoin this year.
Dogecoin Community Overview
Dogecoin’s community is one of the most vibrant in the cryptocurrency world. Its members often come together to support various causes and charities. For example, in 2014, the community raised over $50,000 to fund the Jamaican bobsled team’s trip to the Winter Olympics in Sochi.
They also raised over $30,000 to build wells in rural areas of Kenya, and they donated $55,000 to help provide service dogs for children with autism.
The community’s support has increased the visibility and popularity of Dogecoin, making it a significant player in the world of cryptocurrency. Influential figures, such as Elon Musk, have also endorsed Dogecoin, further boosting its popularity.
Musk’s tweets about Dogecoin have led to an increase in its value, and his appearance on “Saturday Night Live” in May 2021 also helped to increase its visibility.
Dogecoin Recent Surge In Popularity
Dogecoin’s recent surge in popularity is due to a variety of factors. One of the most significant was the GameStop stock saga in January 2021. Retail investors, organized through social media platforms such as Reddit, drove up the stock price of GameStop and other companies, causing significant losses for hedge funds that had bet against them.
This event increased interest in cryptocurrency, with Dogecoin being one of the cryptocurrencies that gained the most attention.
Social media attention has also been a significant factor in Dogecoin’s recent surge in popularity. Twitter and Reddit users have been sharing memes and posts about Dogecoin, increasing its visibility and attracting new investors.
As a result of its recent surge in popularity, Dogecoin is now available on several cryptocurrency exchanges. However, investors should be aware of the criteria for selecting top crypto exchanges for investing in Dogecoin.
Criteria for Selecting Crypto Exchanges
Several factors must be considered when selecting the top crypto exchanges for buying Dogecoin. These include security, reputation, fees, ease of use, and availability of Dogecoin.
Security is the most crucial factor to consider when selecting a crypto exchange. Investors must ensure that their investments are secure and protected from fraud and hacking. Reputation is also essential as investors want to work with a reputable company with a proven track record.
Fees are another crucial factor as investors want to maximize their profits by minimizing their expenses. Ease of use is also important as it affects the investor’s overall experience on the platform. Lastly, availability of Dogecoin is a key factor as it determines the investor’s ability to buy and sell Dogecoin.
Top 3 Crypto Exchanges for Buying Dogecoin
As a result of its recent surge in popularity, Dogecoin is now available on several cryptocurrency exchanges. Binance, Coinbase, and Kraken are three of the most popular exchanges that offer Dogecoin.
Binance is one of the largest and most popular crypto exchanges in the world. It offers a broad range of cryptocurrencies, including Dogecoin. Binance has a reputation for being fast, reliable, and secure. It has a 24/7 customer support system that caters to its customers’ needs, and it offers a user-friendly interface that makes it easy to navigate and trade.
Binance also offers some of the lowest fees in the market, making it an attractive option for investors. Its trading fees start at 0.1%, and its withdrawal fees are reasonable. Binance also provides a mobile app, which allows users to trade on the go.
The only limitation of Binance is that it does not allow margin trading for Dogecoin.
Coinbase is a popular and user-friendly platform for buying and selling cryptocurrencies. It has a strong reputation for security and is often the first exchange that new investors use. Coinbase offers a simple and intuitive interface that makes it easy for beginners to trade. It also has a mobile app that allows investors to trade on the go.
Coinbase is available in over 100 countries, making it accessible to investors worldwide. Its trading fees start at 0.5%, making it a bit more expensive than Binance, but it is still reasonable.
The only limitation of Coinbase is that it has limited availability of cryptocurrencies. However, it offers Dogecoin, which makes it a viable option for investors looking to buy Dogecoin.
Kraken is a well-established crypto exchange that offers a wide range of cryptocurrencies, including Dogecoin. It has a reputation for being secure and reliable, and it has been in operation since 2011. Kraken offers a user-friendly interface that makes it easy for investors to trade. It also has a mobile app that allows users to trade on the go.
Kraken’s trading fees start at 0.16%, which is slightly higher than Binance, but still reasonable. Kraken also offers margin trading for Dogecoin, which makes it an attractive option for investors looking to maximize their profits.
The only limitation of Kraken is that it may not be available in all countries.
How to Buy Dogecoin on The Recommended Exchanges
The process of buying Dogecoin on the top 3 crypto exchanges or platforms discussed previously may differ from one exchange to the other. But generally speaking, if you’re interested in buying Dogecoin, here’s how you can do it on the recommended exchanges:
1. Log into your crypto exchange or brokerage account.
2. You need to have money in your account or have your bank account linked to it
3. Find the search bar and search for Dogecoin or its ticker symbol DOGE
4. Add the dollar amount you’d like to spend or the number of Dogecoins you’d like to purchase
5. Press the buy or order button to complete your purchase.
Dogecoin’s history and community have helped to make it a significant player in the world of cryptocurrency. Its recent surge in popularity is due to a combination of factors, including social media attention and events such as the GameStop stock saga.
Like all cryptocurrencies, Dogecoin is highly volatile, and its value can fluctuate rapidly. Its value is entirely dependent on market demand, and investors should be prepared to lose their entire investment.
When selecting a crypto exchange to buy Dogecoin, investors should consider several factors, including security, reputation, fees, ease of use, availability of Dogecoin, and should be aware of the risks associated with buying and selling Dogecoin.
I recently published a comprehensive guide to investing in cryptocurrencies for beginners that you can check here.
Also, Follow me on Social media
May you be richer!
– Videgla M.