Now its market capitalization exceeds $88 billion. But you can not buy Dogecoin for rubles or other fiat currency on all crypto exchanges. IAFT experts have analyzed and collected here the most relevant and useful information on how to buy Dogecoin with the greatest profit.
What is Dogecoin (DOGE)?
Many people today are looking to buy Dogecoin, as this cryptocurrency has a number of design advantages over the leading competitors in the industry. By the principle of distribution, this currency is similar to Bitcoin and Lite coin, it works on the basis of a zero-knowledge cryptographic proof protocol – Proof of Work, abbreviated as Pow. This means that DOGE can be mined just like Bitcoin.
Features and Benefits
The key difference (and also the main advantage) in mining Dogecoin over Bitcoin is that a new block is added to the block chain every minute. Another difference is that Bitcoin and many other cryptocurrencies use the SHA-256 one-way hash function cryptographic algorithm. This algorithm is efficient and productive, but extremely expensive in terms of power consumption.
To ensure security, Dogecoin uses typical cryptographic tools. Another nuance is that it is an inflationary cryptocurrency, unlike the same Bitcoin. It has no upper limit and emission limit. This explains why the price of DOGE is lower than most deflationary cryptocurrencies.
Please note that Dogecoin is not an innovative cryptocurrency. And it was even brought to the market without a specific commercial purpose. This determines the fact that DOGE receives updates less frequently than innovation coins.
History of Dogecoin
Meme. In 2013, computer programmer Jack Palmer combined a then-popular Shiba-nu dog meme with an image of a cryptocurrency coin as a joke. He posted the resulting picture on Twitter and received a lively response, people liked the joke.
Cryptocurrency. Some time later, Palmer was contacted by Billy Markus, also a programmer who was actively interested in the crypto market. Marcus suggested that Palmer use his image for real cryptocurrency. Together they made some changes to the Bitcoin code and soon launched DOGE.
Popular cryptocurrency. The new cryptocurrency entered the market in December 2013. No one expected that traders would start massively trading Dogecoin, and after 2 months its capitalization would already be $89 million. Palmer and Brooks made fabulous sums from their coin.
Market leader. The founders of DOGE left the project in 2015, but the coin continued to develop. By 2017, its capitalization crossed the $1 billion mark, making this first-generation cryptocurrency one of the most successful in its class.
Second birth. In 2018, the coin experienced a significant decline, its capitalization at that time was just over $276 million. But in 2022, Elon Musk’s Tesla and the American retail chain GameStop became interested in DOGE at the same time. The capitalization of the cryptocurrency jumped again and exceeded the all-time high, amounting to $88 billion.
Where to buy Dogecoin? Top 5 sites
If you do not know how to buy Dogecoin, the most profitable option is a cryptocurrency exchange. These platforms are specially created for the purchase and sale of cryptocurrencies, including purchases for fiat currencies (for example, for Russian rubles). Top exchanges operate transparently and have international financial regulators, so it is safe to cooperate with them.
The terminals of most crypto exchanges are based on Trading View, which allows you to trade in an Internet browser with maximum comfort. The interfaces of these terminals are easy to learn and intuitive, although, of course, it is more convenient if there is localization into the required language, for example, into Russian. There are still a number of nuances that need to be taken into account in order to choose the optimal platform.
IAFT experts analyzed the leaders of the overall rating and prepared the top crypto exchanges, where it is optimal to buy Dogecoin from anywhere in the world. The best exchanges are presented in the table below, then we will give a detailed description of each of them.
If you want to buy Dogecoin for rubles, hryvnia or other fiat currency, Finance is the best choice. The exchange works with the euro and a number of national currencies.
The platform has a convenient quick buy / sell service and an exchanger, there is P2P trading, margin trading with leverage, derivatives. At the moment, there are more than 150 cryptocurrencies, including Dogecoin, Bitcoin, Ethereum and many others. Dogecoin trades on the most popular pairs. For example, from fiats it is actively traded with the Russian ruble, euro, British pound, from cryptocurrencies there are DOGE pairs with BTC and USDT.
Finance is characterized by high stability and speed, user funds are protected. The commission on spot trading depends on the trading level of the trader, which is determined by the trading volume. Even at zero, the taker/maker fee is 0.1%, which is below the market average. Part of the commissions can be paid with cashback under the referral program.
DOGE is introduced to the site for free, the withdrawal fee ranges from 1.2 to 5 DOGE, depending on the network you use. This is a profitable indicator.
This cryptocurrency exchange specializes in derivatives trading. In the field of crypto trading, a derivative is a contract pegged to the rate of one cryptocurrency or a basket of coins. Crypto derivatives allow you to invest in cryptocurrencies, bypassing its direct purchase, which is especially in demand among institutional investors.
If you are thinking about buying Dogecoin and you are interested in derivatives trading, By bit is the best choice because very few exchanges offer derivatives trading on DOGE. The advantages of the site include an intuitive trading terminal.
trading is carried out in a browser. Benefits for beginners – low entry threshold, there are training guides. Advantages for experienced traders – large trading volumes, there is an exchange glass, you can open long and short positions with subsequent mutual recalculation.
The exchange has low trading commissions – up to 0.1% on spot, up to 0.75% when trading contracts. All major channels are available for deposit and withdrawal, including MC and Visa bank cards.