Dogecoin Investment Strategies: Coinbase And Beyond

Dogecoin is a cryptocurrency that was initially introduced as a joke based on the 'doge' meme. It was created by Billy Markus and Jackson Palmer and launched in 2013. Unlike Bitcoin, which is designed to be scarce, Dogecoin is intentionally abundant – with 10,000 new coins mined every minute and no maximum supply. Dogecoin is built on blockchain technology, which is a decentralised system that records transactions on a public ledger.

Dogecoin can be purchased on several exchanges, including Coinbase, Binance, and Bitpanda. However, it is worth noting that smaller exchanges may be completely unregulated, and there is a risk of losing money if the exchange disappears. It is also important to withdraw Dogecoin from the exchange and store it in a secure wallet.

Dogecoin is a highly volatile investment, and its price is notably responsive to public sentiment and trends. Its value has fluctuated significantly due to tweets from Elon Musk, who has expressed interest in Dogecoin.

Dogecoin wallets: Ledger, Exodus, TREZOR, Coinomi, etc

Dogecoin wallets are used to store and manage your Dogecoin. Here are some of the most popular Dogecoin wallets:

Ledger

Ledger is a hardware wallet that supports Dogecoin and over 5000 other crypto assets. Hardware wallets are one of the safest types of wallets available as they keep the private key to your Dogecoin offline on a physical device. However, they do require an initial investment, whereas software wallets are almost always free.

Exodus

Exodus is a software wallet that supports Dogecoin and over 50 other networks. It is available for Windows, Mac, and Linux, as well as iOS and Android. Exodus allows you to send, receive, and swap Dogecoin with the mobile security of face or fingerprint scanning. It also offers Trezor hardware wallet integration, combining the security of Trezor with the simplicity of Exodus.

TREZOR

TREZOR is another hardware wallet option that supports Dogecoin. Like Ledger, TREZOR keeps your private keys secure on a physical device. TREZOR offers two models, the TREZOR One and the TREZOR Model T.

Coinomi

Coinomi is a multi-currency software wallet that supports Dogecoin and many other cryptocurrencies. It is available for Windows, Mac, Linux, iOS, and Android. Coinomi offers a variety of features, including the ability to buy crypto with your credit/debit card, bank account, Apple Pay, or Google Pay.

When choosing a Dogecoin wallet, it is important to consider factors such as security, ease of use, device compatibility, and whether it is a hardware or software wallet. It is also recommended to only download official or highly recommended wallets to protect your Dogecoin from malware and other security threats.

Doge exchanges: Binance, Bitpanda, Coinbase, etc

Binance

Binance is a leading cryptocurrency exchange that has been around since 2017 and is supported worldwide. It offers the purchase of over 200 cryptocurrencies, including Dogecoin. You can buy Dogecoin with a credit or debit card, as well as through bank transfers and other methods. Binance has the lowest transaction fee rate among all major trading platforms.

Bitpanda

Bitpanda is an Austrian exchange founded in October 2014. It allows residents of the EU and a few other countries to buy Dogecoin and other cryptocurrencies using various payment methods such as Neteller, Skrill, and SEPA. The daily limit for verified accounts is €2,500 for credit card purchases, and €10,000 for other payment options.

Coinbase

Coinbase is a regulation-friendly, publicly-traded US-based cryptocurrency exchange that has been in operation since 2012. Users can easily buy Dogecoin and other cryptocurrencies using a linked credit card or bank account.

Other Exchanges

Other reputable exchanges that allow the purchase of Dogecoin include Uphold, eToro, Kraken, Changelly, Gemini, and Bittrex. Additionally, smaller exchanges like Exrates, YoBit, and Livecoin offer DOGE/USD pairs, while LiteBit.eu, Bittylicious, and Cryptomate provide brokerage services for Dogecoin via EUR.

Buying Dogecoin with a credit card or debit card

There are several platforms that allow you to buy Dogecoin with a credit or debit card. These include:

• Binance
• Bitpanda
• Uphold
• Coinbase
• Paybis
• Changelly

The process for buying Dogecoin is relatively similar across these platforms. First, you will need to sign up for an account and pass any necessary verification procedures. Then, enter the amount you want to spend and your card details. Finally, confirm the payment.

It is worth noting that purchases made with a credit or debit card usually have higher fees than those made with a bank transfer. However, they are processed faster. Therefore, if speed is a priority for you, using a credit or debit card may be the best option.

When choosing a platform to buy Dogecoin, it is important to consider factors such as security, fees, and ease of use. It is also a good idea to read reviews from other users to get a sense of their experiences. Additionally, make sure to withdraw your Dogecoin to a secure wallet after purchasing it. This helps to ensure the safety of your cryptocurrency.

Buying Dogecoin with PayPal

PayPal is a popular method of buying crypto due to its speed, security, and accessibility. However, there are very few cryptocurrency exchanges that accept PayPal payments. There are still ways to buy Dogecoin using PayPal, though.

Firstly, you could use PayPal to buy Bitcoin, and then transfer the Bitcoin to an exchange to trade it for Dogecoin. LocalBitcoins is one such platform that allows users to buy Bitcoin with PayPal. However, this method can be expensive, with PayPal traders charging around a 20% premium.

Alternatively, you could use a licensed broker like eToro, which supports more than 70 different digital currencies. eToro also has a flat-rate fee of 1% on cryptocurrency transactions and low requirements for a minimum deposit. To buy Dogecoin with PayPal on eToro, simply sign up, verify your identity, select PayPal as your deposit method, and then select Dogecoin from the list of cryptocurrencies.

It is important to note that PayPal does not allow users to buy Dogecoin directly.

Dogecoin's history and creators

Dogecoin was created in 2013 by software engineers Billy Markus and Jackson Palmer. Both Markus and Palmer thought that cryptocurrency was being taken too seriously and wanted to create something fun. Palmer created the Dogecoin.com website, becoming the public face of Dogecoin, while Markus worked as a solo developer on the first four releases.

The Dogecoin creators were inspired by the popular "doge" internet meme, which featured a Shiba Inu dog with multi-coloured Comic Sans text appearing as the dog's "thought bubbles". This meme was based on a 2010 photograph of a Japanese Shiba Inu called Kabosu, who had been adopted by a Japanese kindergarten teacher, Atsuko Sato, from an animal shelter in 2008.

Markus and Palmer used the open-source code from Bitcoin, the pioneer cryptocurrency, to form the backbone of Dogecoin. This was then modified to create a unique cryptocurrency. The creation process was swift, taking only a few hours to complete.

Dogecoin was launched on 6 December 2013 and quickly gained popularity on sites such as Reddit, where it was used as a tipping currency. Within the first month, there were over one million unique visitors to the Dogecoin website.

Frequently asked questions