Dogecoin is the most popular memecoin in the market today. Dogecoin has a loyal fan army who support its charitable and social causes and its fast and low-cost transactions.
If you want to join the Dogecoin community and buy some DOGE coins for yourself, you need a reliable and secure platform. One of the best options is eToro, a leading social trading platform offering a wide range of assets, including cryptocurrencies. eToro is regulated by multiple authorities, supports various payment methods, and provides a user-friendly and intuitive interface.
Here, you will get all info on how to buy Dogecoin on eToro . In addition, We will also cover some of the benefits that eToro offers to enhance your trading experience.
Table of Contents
How to Buy Dogecoin on eToro Step by Step
After reading this, you will not have to read any other article or guide about buying dogecoin on etoro. We will give complete details about how to buy dogecoin on etoro:
Step 1: Create an account on eToro
Click here to create an account on eToro.
Add required details in registration form like name, email address, password, phone number, etc.
You will also need to verify your identity and address by uploading a copy of your ID (like passport or driver’s license) and proof of address (like a bank statement or utility bill). EToro requires this to comply with anti-money laundering and KYC regulations.
Step 2: Adding Funds to account
You can add funds by clicking the “Deposit Funds” button on the app or website and choosing your preferred payment method.
eToro supports various options, such as credit cards, debit cards, PayPal, bank transfers, Skrill, Neteller, etc.
Step 3: Locate Dogecoin on your dashboard
After funding your account, you can look for Dogecoin on your dashboard. You can do this by typing “DOGE” in the search bar located at top of the screen or browsing through the “Crypto” category on the left menu.
You will see the current price, performance, and market cap of Dogecoin and some basic information about the coin and its history. You can also view Dogecoin’s live chart, analysis, news, and social feed by clicking on the tabs below the price.
Step 4: Make your purchase
To buy Dogecoin on etoro, you need to click the “Trade” button on the upper right corner of the screen. This will open a window where you can put how much you money want to invest in Dogecoin and adjust the leverage and stop loss settings if you wish.
You have the option to choose either a market order or a limit order. A market order will fill your trade at the current market price, while a limit order will fill your trade only if the price reaches a certain level that you set.
After entering the required information, click the “Open Trade” button to finalize your purchase. You will get a confirmation message and your position will show up on your portfolio.
Step 5: Monitor and manage your position
After you buy Dogecoin on eToro, you can monitor and manage your position by checking your portfolio regularly. You can see the profit or loss you have made from your trade and modify or close your position if you want.
Some other cool features of etoro are:
- Watchlists: You can create custom lists of assets and cryptos to watch and access them easily from your dashboard.
- Price Alerts: You can set up notifications that will alert you when an asset reaches a certain price level that you are interested in.
- Newsfeed: You can follow other traders and influencers on eToro and see what they are saying about different assets
- CopyTrader: You can copy the trades of other successful traders on eToro and automatically replicate their actions in your portfolio.
We have also compared eToro with various other popular trading platforms like robinhood, coinbase etc.
You can read the comparisons by clicking on the links below:
What is Dogecoin?
Before you start to buy Dogecoin on eToro, let’s briefly review what it is and why it is worth investing in.
Dogecoin is a cryptocurrency that runs on the same proof-of-work consensus algorithm as Bitcoin but with some key differences. First, unlike Bitcoin, which has a fixed supply of 21 million coins, Dogecoin has an unlimited supply that increases at a steady rate. This makes Dogecoin inflationary, meaning its value tends to decrease over time due to increased supply.
However, this also means that Dogecoin has faster and cheaper transactions than Bitcoin, which makes it ideal for use as a real-world currency. Dogecoin also has a shorter block time of one minute compared to Bitcoin’s 10 minutes, which means that transactions are confirmed more quickly.
Dogecoin has gained popularity among crypto enthusiasts and celebrities alike. Some notable figures who endorsed or supported Dogecoin include Elon Musk, Mark Cuban, Snoop Dogg, and Gene Simmons. In addition, Dogecoin has also been used for various charitable and social causes, such as sponsoring the Jamaican bobsled team for the 2014 Winter Olympics, raising funds for clean water projects in Kenya, and sending a satellite to the moon.
Dogecoin Price Analysis:
Let’s look at the chart to identify the trend of Dogecoin, before you buy dogecoin on etoro:
In a daily time frame, the price is lying above the horizontal S/R zone. A bounce is expected from here. On the other hand, if it breakdown the S/R zone with a successful retest, then it can go downward.
What is eToro?
eToro is a global online platform that allows you to trade and invest in various assets, such as stocks, commodities, currencies, indices, ETFs, and cryptocurrencies. eToro trading was founded in 2007 and has over 40 million users from over 140 countries.
eToro is more than a regular trading platform it’s also a social platform that connects you with other traders and investors worldwide. You can follow their activities, interact with them via comments and messages, and even copy their trades automatically with the CopyTrader feature.
eToro also offers other innovative tools and features that make trading more accessible and more enjoyable for beginners and experts. Some of these include:
- Watchlists: You can create custom lists of assets to watch and access them easily from your dashboard.
- Price Alerts: You can set up notifications that will alert you when an asset reaches a certain price level that you are interested in.
- Newsfeed: You can follow other traders and influencers on eToro and see what they are saying about different assets
- CryptoPortfolio: You can invest in a diversified portfolio of cryptocurrencies managed by eToro’s experts and rebalanced periodically.
- Chart: You can use various technical analysis tools and indicators to study the price movements and trends of different assets
- Analysis: You can access detailed statistics and reports on your trading performance and history
eToro is also regulated by multiple authorities. This means that eToro complies with high security, privacy, and transparency standards.
eToro also supports a variety of payment methods that you can use to fund your account and withdraw your profits. These include credit cards, debit cards, PayPal, bank transfers, Skrill, Neteller, and more.
Conclusion
To Buy Dogecoin on eToro is a simple and convenient process that anyone can do with a few clicks. eToro is a reputable and secure platform that offers many features to make trading more enjoyable and profitable.
If you want to buy Dogecoin on eToro, follow the guide and to become a successful trader join Coincodecap and start your journey today. Remember always to do your research, practice risk management, and have fun along the way. Happy trading! ????
