How to buy Dogecoin on Etoro?

So, you want to buy Dogecoin on eToro! Cool. But how to buy them?

eToro is one of the most famous Platforms for buying, selling, and trading different cryptocurrencies. Of course, you can purchase cryptocurrencies from other platforms like Binance.

However, eToro is a currency popular among traders and Cryptocurrency investors. So, how do you invest in Dogecoin? Or how do you buy them using eToro? If you are looking for an answer, I suggest reading this article.

What Is Dogecoin?

If you are looking for this Cryptocurrency, you must already know what it is and what it stands for. A Dogecoin came into existence in 2013 (10 years ago). But this currency was just a joke by Billy Markus and Jackson Palmer. This coin results from a popular internet meme featuring a famous Shiba Inu dog. This explains the name and the logo of the coin.

The crypto world is now more in trend than ever. Buyers from across the world want to get their hands on some cryptocurrency for investment (sometimes just out of curiosity). However, Dogecoin is one of the cheapest coins to buy compared to costlier ones like Bitcoin. Like other assets, Dogecoin also depends on market demand and supply. Besides, an online community keeps it relevant in the market alongside frequent talks from Elon Musk.

Read More: How To Buy Bitcoin On eToro? A Step-By-Step Guide

Why I Prefer Trading Dogecoin on eToro?

So, since I had few experiences of trading Dogecoin on eToro, I can tell you a little something about why I love to trade it on eToro itself.

• This platform is pretty simple. This platform is one of the easiest cryptocurrency platforms. You will love using it despite being a beginner trader. But, if you are experienced, you will also find it useful.
• The investment barrier on this platform is pretty low. You can start with as little money as $10. Yes, whatever Cryptocurrency you want to buy, you can buy it from here. Once you have bought your Cryptocurrency, you can send it to your wallet instantly.
• This platform allows you to mimic different trading strategies that some of the most successful traders follow. This is what they call the Copy trading feature.

Thanks to leverage trading, you are now open to larger trading positions with a minimal initial commitment. However, there is a limit to leverage trading, and it depends on the country where you live. The use of this type of trading means that you will trade in crypto CFDs ( compared to other cryptocurrencies).

How To Buy Dogecoin On eToro?

Here is how you can buy Dogecoin from eToro –

Sign Up For An eToro Account

Suppose you want to buy Dogecoin or any other coin, n eToro; the first step is signing up for an account. For that, you have to head over to the eToro website and create a new account. Remember that you have to provide your personal information when creating an account. Usually, they ask for your name, address, and your email address. Also, you have to provide a digital photocopy of your ID to open an account on eToro.

Fund Your Account

So, the first step is to get yourself signed up on the eToro platform. Once you are done with that, you have to fund your account. You have to bring in fiat currency to your account and ready it for buying cryptocurrencies. They allow payment through different methods like credit/debit cards, e-wallets, and bank transfers. We would ask you to go for the method that suits you the best. Keep reading for the best things you need to follow.

Look For Dodgecoin

Now that you have created your account and done setting up your fund, you have to look for Dogecoin. A search bar on eToro allows buyers to look for different cryptocurrencies. Once you have found the coin you want to buy, click on the button reading “Trade.” this will open the other window on the screen reading Place an order.

Place An Order

How to buy Dogecoin on eToro? Well, once you have set up your account, funded it, and found the coin you want to buy, you have to place an order simply. Buying Dogecoin on eToro is simple (if you know how you are buying it). The type of order you place also depends on how you buy it. There are two types of orders: market orders and limit orders. Through market order, you can buy Dogecoin at the current market price.

This type of order lets you put a budget or a limit under which you will buy Dogecoin. Here, you dictate the price of a cryptocurrency, such as specifying a particular Dogecoin price. However, before you place an order, ensure you put the order details and be obvious about them before you click on “Open Trade.”

Review & Confirm Your Order

However, before the order gets executed, you must review all the details and finalize the order. Ensure that the $DOGE amount you choose is correct. If you are satisfied with the amount, click on “Confirm Trade” to complete a transaction.

Monitor Your Investment

After you have purchased your Dogecoin, you can track it in the Portfolio section of the eToro platform. This feature lets you track the amount of Dogecoin you have left and the amount that’s helping you make a profit or loss. Also, there is a feature to set up alerts for the amount of Dogecoin you own and both the profit and the losses made.

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Final Words

It looks pretty simple to buy your Dogecoin on eToro. If you were wondering how to buy Dogecoin on eToro, this article should help. However, I will still suggest you remember that cryptocurrency investments are pretty risky and volatile. Dogecoin is one of the high-risk cryptocurrencies in which to invest. It is backed by a community on the internet, and the trend can go down anytime.

But, if you want to buy it, do your own research and invest based on logic. Hopefully, this article was helpful. However, if you have any recommendations, you can let us know through the comment section.

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