How To Buy Dogecoin On eToro

Do you want to buy Dogecoin on eToro? In this article, we will guide you on how to buy Dogecoin on eToro and provide a brief insight into Dogecoin and the eToro platform.

Dogecoin is a cryptocurrency that started as a meme but gained significant popularity. It operates on a decentralized peer-to-peer network and offers fast and low-cost transactions. Due to its community-driven nature, Dogecoin has attracted a large following.

eToro, on the other hand, is a reputable and user-friendly trading platform that allows users to invest in various cryptocurrencies, stocks, and ETFs. It offers a range of features and tools for beginners and experienced investors.

eToro charges a 1% transaction fee on every crypto coin on their platform and that includes Dogecoin as well. The same fee applies when selling Dogecoin. While eToro’s transaction fees are relatively low compared to many crypto exchanges, the prices keep changing so you may find a cheaper transaction elsewhere too. However, eToro is a reputable brand and 1% is not bad for that piece of mind.

Now, let’s proceed with the step-by-step guide on how to buy Dogecoin on eToro.

How to Buy DogeCoin on eToro

Step 1: Create an account on eToro

To get started, you need to create an account on eToro. Follow these steps:

1. Visit eToro’s official website at eToro.com
2. Click on the “Start Investing” or “Join Now” button on the homepage.
3. Provide your username, email, and password or you can sign up using your Facebook or Google account as well.
4. Enter your name, phone number, zip code, and birth date on the next page.
5. The same process can be applied to their mobile application as well.

You will also receive $10 worth of free crypto of your choice as part of the sign-up.

I chose Dogecoin itself for my free $10 value because why not get free Dogecoins 🙂

Step 2: Verify the account

Once you have created an account, it’s time to verify it. Verification helps ensure the security and compliance of the platform. Here’s how you can verify your eToro account:

1. Upload a Proof of Identity (PoI) document such as a passport, driving license, or government-issued ID for faster approval.
2. Upload a Proof of Address (PoA) document. You can use documents like bank statements, credit card statements, utility bills, tax letters, rental agreements, or letters from your local municipality.
3. You can easily upload these documents on the eToro app or their website.

Note: eToro is a reputable brand and you can rest assured about the security of your personal documents.

Step 3: Fund your eToro account

After your account is verified, you can proceed to fund your eToro account. eToro supports various payment methods, including credit cards, debit cards, PayPal, online banking, and bank transfers. The minimum deposit required to buy any cryptocurrency on eToro is just $10.

Step 4: Search for Dogecoin

Once you have funded your eToro account, navigate to the eToro dashboard and find the search box. Type “Dogecoin” and select Dogecoin from the options. This will take you to the Dogecoin trading page.

Step 5: Buy Dogecoin

On the Dogecoin page, you will see the current price of Dogecoin. You can enter the amount in US dollars that you wish to invest. If you want to purchase Dogecoin at a lower price, you can set the price below the current price.

For that you can set the order type as Limit, by default this would be set to Market. Please note that market orders are executed instantly and since the prices fluctuate every second it is best to always place a Limit Order Type instead so that you are sure to get executed at your designed price point.

If you had not yet deposited any money yet it would ask you to deposit the money at this step which you can do through Paypal or a bank account.

If you have already deposited money in step 3 then you would see a buy button to get your order placed.

Congratulations! You have successfully bought Dogecoin on eToro.

See Also: How to buy Tesla Stock on eToro

How to sell Dogecoin on eToro

To sell Dogecoin on eToro, you can follow these steps:

1. Go to the Dogecoin trading page or visit your portfolio page on eToro.
2. Specify the selling price. If you want to sell Dogecoin immediately, go with the current price.
3. If you want to sell your coin for a higher price, set the price above the current price. You can adjust the price using the Plus or minus option or directly enter your desired price.
4. The Trade will be executed only if your Transaction Point is met. This is always a safer option unless you just want to sell at price because remember the prices could drop within a second as well so you may get executed at a lower price as well if you go with the current price.

Pros and cons of using eToro

Using eToro for cryptocurrency investments comes with its own set of advantages and disadvantages. Let’s explore them:

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