Last Updated on January 20, 2022 by Arty Fisher
Dogecoin is a decentralized, peer-to-peer digital cryptocurrency
Buying Dogecoin is easy to do, but you’ll need a few things before you get started. This guide will help you find the quickest and easiest way to buy it with minimal effort.
What exactly is Dogecoin?
Dogecoin is a cryptocurrency featuring a Shiba Inu from the Doge Internet meme on its logo. Introduced as a “joke currency” on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014. It is referred to as an altcoin.
Dogecoin uses Scrypt technology, like Litecoin, which prevents mining from becoming too centralized when using less powerful computers. The coin has a block time of 1 minute, compared with 10 minutes for bitcoin and two minutes for Litecoin.
The coin was created by programmer Billy Markus from Portland, Oregon, who hoped to create a fun cryptocurrency that could reach a broader demographic than bitcoin. He wanted to create a coin that could reach a much broader demographic than just the tech-savvy bitcoin crowd.
Let’s learn how to buy Dogecoin
It’s the easiest to buy Dogecoin using Bitcoin. If you don’t have any Bitcoin yet, see our guide on how to buy bitcoin first. It’s safe and easy to link your Coinbase account to your Dogecoin wallet, and once you’ve done that, here’s how to exchange Bitcoin for Dogecoin:
Step 1 – Get a Dogecoin Wallet
Before anything else, make sure you have a secure place to store your Dogecoins. This is what will hold your coins securely while you buy and trade them. There are lots of different wallets out there, but one of the most popular is the official Dogecoin wallet. It’s free, secure and works on almost any computer or mobile device.
Step 2 – Link Your Crypto Account
To start, you will need to get some Bitcoin and transfer it to one of these exchanges. Once you have Bitcoin in your account, look for the pair DOGE/BTC and purchase your Dogecoin. You can then send Dogecoin to your wallet address (if you do not have a wallet address, please see my guide here).
Alternatively, if you want to purchase directly with USD, there are a couple ways you can do this. If you are in the US and want to purchase through Coinbase or Gdax, both platforms allow for instant purchasing of BTC with USD. Once you have purchased your BTC, transfer it over to an exchange such as Bittrex or Poloniex to purchase DOGE.
It’s no secret that the crypto world has been rapidly expanding as of recent. Cryptocurrencies have been gaining popularity for quite some time now and many people still find it difficult to purchase one. The main reason for this is that it’s quite difficult for laymen to buy Bitcoin or any other cryptocurrency because of their price volatility and cost. Even though the process of buying Dogecoin isn’t as complex as some other cryptocurrencies such as Bitcoin, it’s still not easy to do so. This is mostly due to the fact that Dogecoin is a relatively new coin, which means that not all exchanges support it yet. However, there are a few places where you can easily purchase Dogecoin without having to go through any kind of registration process.