The whole cryptocurrency world rejoiced when one of the biggest and most influential exchanges in the world, Binance, revealed to the crypto community that it listing Dogecoin. A High-profile crypto exchange listing like this is highly sought by many blockchain projects and the listing on Binance came as a surprise to many. It is widely known that Binance is extremely difficult with some projects begrudgingly stating extremely expensive. However, the powers that be on Binance seem to have grown fond of the cryptocurrency and had Dogecoin listed without too much ado. This means if you have a Binance account, you can buy Dogecoin from the exchange.
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So how do you get your hands on this hidden gem? Well, there are many ways you can even get them for free through faucets albeit in small amounts. But if you are seriously considering investing in Dogecoin then the easiest way to get a substantial amount, quickly and easily, is by simply buying them. To give you an idea of where you can buy dogecoin safely without too much risk we wrote this “how to buy Dogecoin” guide for you to follow.
Top 5 Places to Buy Dogecoin
What is Dogecoin?
Dogecoin was created by Billy Markus who based his code from luckycoin which in turn was also based on another cryptocurrency called Litecoin. Around the same time, after much prodding from community members on Twitter, Jackson Palmer acquired dogecoin.com. Billy saw this prompting him to reach out to Palmer to make dogecoin a reality and on December 6, 2013, the Dogecoin Network launched. Unlike Bitcoin whose supply is finite, dogecoin has an unlimited supply. Dogecoin also has an adorable mascot called Doge which is a Japanese breed of dog that was popularized as an online meme and represents Dogecoin.
The main aim of Dogecoin is to have a decentralized, peer-to-peer digital currency that is more fun and friendlier to use. It achieves a fun and friendlier environment through the efforts of a vibrant, resilient, and fun-loving community that describes themselves as regular folks who like to spread good vibes. Despite having no relevant commercial use-case Dogecoin has grown to be one of the most recognizable cryptocurrencies in the market and is now widely used as a tipping cryptocurrency for online generated content in many social media outlets.
As a testament to its popularity, Doge is currently trading in more than 300 cryptocurrency markets and has been listed in the biggest crypto exchanges around the world. This includes the American exchanges Binance.us, Bittrex, Poloniex, and Kraken. In addition to this, Dogecoin can be merged-mined with Litecoin creating a symbiotic relationship with the 7th largest cryptocurrency in the world by market capitalization. More importantly, this gives Dogecoin additional security to its network with more miners mining Dogecoin.
What do you need to buy Dogecoin
Before buying Dogecoin we need to get a Dogecoin wallet where we can securely store them. There are many ways to do this ranging from hardware wallets, noncustodial wallet programs, and cloud wallets. However for simplicity and less expense without compromising security we recommend you use a non-custodial wallet. A noncustodial wallet is simply a wallet that allows you to personally generate cryptographic keys than you and only you know. Aside from being highly secure, you can always recover your assets using other types of devices or programs from the keys you generated.
There are many noncustodial wallets out there but we believe that the best one is the wallet that comes from the official
website. Dogecoin.com has links to both desktop and mobile versions of the dogecoin wallet. The desktop version is dubbed as multidoge which is available for download in Windows, OSX, and Linux. Multidoge is a light wallet which means this does not need to download a copy of the whole blockchain of dogecoin. However, this does not mean it is less secure than the full pledge dogecoin wallet core. Shown below is the installation procedure on windows if you are using another operating system you can find the OSX and Linux guide here
PC Multidoge Installation Procedure
1. Download the Windows installer.
2. Once you clicked on the “Download now!” it should initiate the downloading of the file. Your computer might warn you about the download ignore this and proceed to download the installation file.
3. When you are done downloading the installation file run the program. Your operating system would probably warn you about the file once more, again ignore this and proceed to run the installation program. This will lead you to this window. The installation window might show a different installation version of Multidoge as a new version is released from time to time.
4. Installing dogewallet is no different from any other program. All you have to do is follow the instructions stated in the window. Like many installations, it will first ask you to agree to the terms and conditions of its use. It will also ask you what directory it should be installed, typically you just leave the default settings in place not unless you want to specify in what directory you want it installed. Installation is done when you reach this window.
5. The installation program will also create an installation file and show you where it is located before closing the installation window.
6. You can access the multidoge wallet by going into the directory where it was installed and double click on the multidoge.exe file or to the shortcut created on the desktop if you chose to create one during installation.
7. Once you open the wallet you will be greeted by a message explaining the layout of the wallet as well as some of its features. For now, we only need your wallet address, hence we go straight to the window where you can get it. To get your wallet address all you have to do is to click on the “Request” menu as shown in the screenshot below.
As you can see once you open the wallet the program automatically created a wallet for you. It also says that it is synchronizing with the network. To be safe please wait until synchronization is done before using the wallet address.
8. Clicking on the “Request” menu will bring you to this window. This shows you your Dogecoin wallet address.
9. Copy your address and make a copy where you can easily access it.
If you plan to use your mobile phone as your doge wallet you can download a mobile version in Google Play Store. Unfortunately, this wallet only supports the android version. If by any chance you are using iOS you can use Coinomi universal wallet which supports multiple blockchains.
Mobile Dogecoin Wallet Installation Procedure
1. Download the wallet on Google Play Store. Just search for the “Dogecoin Wallet” The picture is shown below. There might be several wallets in Google Play Store that has the same picture choose the App that is released by “Langerhands”
2. Just tap on the “install” green button to initiate the download and installation process. This should not take too long as the file is just 3.8 MB. Once the installation is done just open the wallet and top the QR code located in the top right to show your wallet address.
Best Wallets to Hold Dogecoin
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Where to buy Dogecoin?
Now that you have your wallet address you can proceed to the next step in purchasing Dogecoins. You need to find a safe and legitimate place to purchase them. No worries, there are a lot of venues where you can purchase Dogecoin. Your options are only limited by the means you want to use to buy them. For beginners, your best bet is to buy them in venues where you can use your credit card or by using bank transfers. Fortunately, many exchanges support bank card cryptocurrency purchases.
There are many types of exchanges out there, they include instant exchange, centralized exchange, decentralized exchange, and P2P Exchanges. While many of them support credit card and bank transfer purchases of cryptocurrencies, most of them only allow the purchase of bigger cryptocurrencies such as bitcoin, ethereum, or XRP. The direct purchase of Dogecoin using bank cards and bank transfer is limited but is available. Of course, there is always the option of buying bitcoin then trading it to dogecoin this might be a little too advance especially for newbies hence we will show you the fastest and easiest way on how to buy Dogecoin.
How to buy Dogecoin?
The easiest and fastest way to buy Dogecoin is through the use of instant exchanges and one of the largest and most well-known instant exchange happen to support Dogecoin direct purchases using credit or debit cards. Changelly has purchasing limits when purchasing Dogecoin using bank cards. However, this limit increases in subsequent purchases. Purchasing limits depend on your jurisdiction hence it might be a good idea to contact them directly if you are planning to purchase a substantial amount of Dogecoin.
How to buy Dogecoin in Changelly Instant Exchange
1. Go to the website of Changelly and click on the button that says “Buy crypto VISA” and to proceed with your transaction
2. The next page will ask you to input how much fiat worth of Dogecoin you want to buy, which country your bank card was issued, and your dogecoin wallet address where the dogecoin will be sent. Just click on the green button to proceed to the next step.
3. The next page is just a confirmation page where you can check the details of your transactions. Make sure that you have inputted the correct Dogecoin wallet address. Coins sent to the wrong address cannot be reverted. If you think that everything is in order proceed to the next step and click on the green button once more.
4. Before making any payments Changelly will show you the transaction ID of your purchase also disclose the transaction limits of purchases when using bank cards. It shows that residence from the U.S., Canada, and Australia are limited to USD 200 limit for the first transaction which will increase to USD 500 on the next transaction after 5 days, then again increases to USD 3,000 after 7 days. To proceed to payment just click on the green button with says Pay with Visa/Mastercard
5. A new pop-out window will appear where you will need to input your card information to process your order. The system should acknowledge the payment in a few seconds and should start processing your order immediately. The transaction should be consummated after a few minutes.
There are other ways to buy dogecoin but this method is by far the easiest and fastest way to get your hands on dogecoin directly. If you have any questions about our article please do not hesitate to post your questions in the comment section of this article.
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