How To Buy Dogecoin On eToro – Beginners Guide
Supporters of Dogecoin believe that the price of this cryptocurrency will eventually “go to the moon.” However, the process of buying Dogecoin may seem confusing to those who are unfamiliar with buying cryptocurrencies. Here, we will walk you through the process of acquiring Dogecoin on the eToro platform.
Everything from creating an account to creating a cryptocurrency wallet to purchasing Dogecoin will be covered in our comprehensive tutorial.
How To Buy Dogecoin On eToro
We’ve broken down the processes involved in buying Dogecoin so that you can do it as quickly and easily as possible:
Step 1: Open An eToro Account
To join eToro, just go to their website and select the Sign-Up button. To open a trading account, please provide your email address and then select a username and password. You’ll be asked personal questions like name, birthdate, phone number, and address on the next eToro page.
Step 2: Verification
eToro needs you to verify your identity so they can meet their Know Your Customer standards. A photograph of your identification documents, such as a driver’s license or passport, can be uploaded to the site for verification. To complete the registration process, you must additionally provide proof of residency by uploading an official government-issued ID. Either a recent utility bill or a bank statement would suffice for this.
Step 3: Deposit Funds
In the United States, new eToro accounts must have a deposit of at least $10. Credit and debit cards issued by Visa and Mastercard, as well as PayPal, Neteller, and Skrill, are all accepted methods of payment. When funding your eToro account through bank transfer, a minimum of $500 is required.
That means you can use any of a wide variety of payment options to acquire the top altcoins.
Step 4: Set Up A Crypto Wallet (Optional)
Buying Dogecoin on eToro is possible without the use of a wallet. In any case, a cryptocurrency wallet can come in handy if you ever need to transmit or receive digital cash.
For mobile devices running iOS or Android, eToro provides a free cryptocurrency wallet app. A simple download from Google Play or the App Store is followed by authentication using your eToro credentials.
Step 5: Search For Dogecoin
You may access the eToro search bar by going to the dashboard and looking up there. If Dogecoin shows in the search results, typing DOGE or Dogecoin will bring up a list of exchanges where you may buy and sell the cryptocurrency. A fresh order form will load in this case.
Step 6: Buy Dogecoin
Put in the US dollar amount that you wish to spend on Dogecoins. Stop-loss and take-profit prices are more common in short-term trading of eToro Dogecoin than in long-term investments. To finish your Dogecoin purchase, select Open Trade when you’re ready.
How Much Does It Cost To Buy Dogecoin On eToro?
When compared to other major cryptocurrency exchanges, buying and trading Dogecoin on eToro is rather affordable. When purchasing Dogecoin, a 1% transaction fee is charged, and when selling, another 1% fee is levied. If you want to buy cryptocurrency with a credit card, debit card, or electronic wallet, eToro won’t charge you any extra fees. Keep in mind that there is a 0.5% transaction fee for transferring Dogecoin from your eToro trading account to your eToro Dogecoin wallet. Withdrawals from eToro cost $5 flat.
So why exactly is eToro the place to go to purchase Dogecoin? eToro, one of the market’s most underappreciated cryptocurrencies, facilitates entry-level participation in cryptocurrency trading. To begin, eToro has competitively cheap costs compared to other big exchanges. When buying Dogecoin, you only pay 1% of the purchase price plus no further costs if you use a credit card. Similar transactions at other exchanges typically cost 3-4% in fees.
— dogecoin doge army (@UpdateRail) October 17, 2022
Besides Dogecoin, eToro offers a wide variety of other cryptocurrencies for purchase. Trading in over 50 different defi coins means you may also get your hands on Bitcoin and Ethereum through this site. You can quickly convert your Dogecoin held in your eToro Money crypto wallet into any of the other tokens that eToro offers.
In addition, eToro facilitates trading in cryptocurrencies. Technical charts can be customized, and they come with roughly a hundred different indicators. When the market is volatile, a sentiment gauge will show you how the trading community feels about Dogecoin, and expert analysis will help you make sense of the most recent Dogecoin news.
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