How to buy Dogecoin (DOGE) in 2022? Elon Musk’s favorite crypto

Do you want to buy Dogecoin, but have no idea how to do it or which platform to choose? This guide is made for you. To buy DOGE crypto, platforms regulated in France such as eToro and Binance are perfectly suited and trustworthy. Here’s how to acquire DOGE quickly and easily.

The first step for buy dogecoin is to choose the exchange platform to use. Several criteria can be considered for this choice, such as security, the ergonomics of the platform or the purchase costs.

Your knowledge of investing and cryptocurrency is also important. If you’re just starting out, the most appropriate would be to choose the most ergonomic platform to buy DOGE crypto easily.

If you are in this case, eToro is the most suitable platform and the easiest way to buy Dogecoin crypto. Only a few minutes are enough to make you a DOGE token holder.

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We have compiled the table below to help you decide which platform to use to buy Dogecoin.

Guide to Buying Dogecoin with eToro

Buying Dogecoin is easy with eToro. By following this guide, you will quickly be in possession of DOGE tokens. eToro being registered as a PSAN, the sesame issued by the Autorité des marchés financiers (AMF), you can use this platform with confidence.

The first step is to create an account on eToro by clicking on the following button (affiliate link) and then click on ” start investing » :

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Once your account is created, you will be asked to answer questions to assess your investment skills. Then, you will have to have your account verified, in accordance with French regulations. For this, a telephone number and an identity document are required.

After validating your account, we will deposit euros into our eToro wallet. To do this, click on ” Make a deposit » in the middle of the dashboard:

eToro Deposit

You have two choices, deposit funds by credit card or bank transfer. This choice has no impact on deposit fees, which are identical on eToro.

All you have to do is enter the amount in euros you want to deposit in your eToro wallet. Fill in the necessary fields then click on ” Deposit » :

eToro Bank Card

Wait a few minutes until your euros are deposited in your wallet. Then you just need to search for the Dogecoin at the top of the page, and click on “ Invest » :

Buy DOGE

The final step is to enter the amount in dollars you want to invest in Dogecoin, here 100 dollars, then click on the ” Invest “.

Buy DOGE Dogecoin

Cheer ! You are now in possession of DOGE tokens ! It is up to you to do what you want with them, send them to an external wallet or another exchange platform for example.

👉 Need more detailed explanations? Here is our opinion and complete tutorial on eToro

Alternatives to buy Dogecoin

Dogecoin is one of the most popular cryptocurrencies in the world. This cryptocurrency is therefore listed on the majority of trading platforms such as FTX, Binance or Bitpanda.

Each of these platforms has its own characteristics, interfaces as well as optional services like stakingalthough Dogecoin being a Proof of Work cryptocurrency, it is generally not possible to generate passive returns with, apart from a few exceptions like on Binance.

Anyway, even having bought the Dogecoin crypto on eToro, you can transfer them to Binance for staker for example.

What is Dogecoin?

the Dogecoin (DOGE) is what is called a same cornera type of cryptocurrency that he created himself.

Dogecoin has its own blockchain and its creator is Billy Markus, also called Shibetoshi Nakamoto. This cryptocurrency was created with the image of the famous Japanese dog breed, the Shiba Inuwhich is the source of a famous internet meme.

The DOGE was created as a joke to poke fun at speculation unique to the cryptocurrency industry. But quickly, a community got attached to this cryptocurrency and it hasn’t stopped growing sinceuntil the Dogecoin reached at the time of these lines a valuation of 8.4 billion dollars.

The Dogecoin therefore had no particular use at its inception, but was gradually used as a means of payment. Elon Musk, the famous CEO of Tesla and Space Xnotably pushed the adoption of Dogecoin by repeatedly supporting it publicly.

Dogecoin Tesla

👉 Want to know more? Find our detailed analysis on Dogecoin (DOGE)

Buying Dogecoin in 2022, is it worth it?

the Dogecoin occupies at the time of writing these lines the 11th place of the most valued cryptocurrencies in the world. It is therefore one of the most popular cryptocurrencies in the world.

Dogecoin DOGE logo

Dogecoin Logo

The price of Dogecoin exploded in 2021 with a valuation at its peak in May 2021 of around $80 billion. For comparison, this would place it in the 3rd position of the most valued cryptocurrencies at the time of writing these lines.

Nevertheless, the price of Dogecoin has fallen around 90% since. This is to assess whether this cryptocurrency still has potential. First, it must be understood that the Dogecoin has thus skyrocketed thanks to its community, made up in particular of the richest man in the world.

So, can the Dogecoin community repeat such a feat? First of all, it should be observed that Dogecoin still maintains a very high valuation, and that Elon Musk’s influence on DOGE seems to be drying up. However, it is quite possible that it is due to this period that we are going through, the bear marketwhich spares no cryptocurrency.

It should also be noted that the Dogecoin flourished long before the support of Elon Musk, and that it can very well continue to prosper without him, because its community and its notoriety are very large.

Finally, the Dogecoin Foundation is currently working on the transition of the Dogecoin blockchain from Proof of Work to Proof of Stake, like the Ethereum blockchain. Vitalik Buterin would assist the development team to carry out this migration, which is scheduled for the end of 2022 or the beginning of 2023. This could propel the price of Dogecoin, but nothing is less certain.

Anyway, we can only recommend that you do your own analyzes on Dogecoin before deciding whether to invest in it or not.

FAQ: frequently asked questions about Dogecoin

When was Dogecoin created?

Dogecoin has been around for December 2013, it is thus one of the oldest cryptocurrencies in the industry. The Dogecoin has been able to resist many bearish phases of the market and to remain close to the top 10 of the most valued cryptocurrencies in the world.

What to do with DOGE?

Dogecoin is used as means of payment. With the growing adoption in recent years, it is possible to use DOGE in companies such as AMC cinemas in the United States, Twitch, Air Baltic, Bitrefill or Tesla. There are many others. DOGE is also used to pay transaction fees for the Dogecoin blockchain.

Does Elon Musk hold Dogecoin?

Elon Musk has confirmed several times that he owns Dogecoin. Moreover, his company Tesla has assets in the form of Dogecoin as well. Elon Musk is a strong supporter of DOGE because he believes it is the cryptocurrency of the people.

Can a Dogecoin reach 1 dollar?

If the price of a Dogecoin reached 1 dollar, its total valuation is said to be around $130 billion, which corresponds for example to that of the company Total. This is unlikely to happen, given the nature and narrow use cases this cryptocurrency has.

However, it is difficult to predict what this industry has in store for us, as the price of Dogecoin surprisingly climbed to around $0.65 at its peak in May 2021.

How to follow the course and price of Dogecoin?

If you want to follow the price of Dogecoin in euros or dollars, look no further. Our Dogecoin crypto price monitoring page was created for this purpose and a lot of essential information is displayed there such as the price chart, the total valuation or the number of DOGE in circulation. All in real time.

How to secure your Dogecoin?

If you want to protect your Dogecoin, then a wallet will be essential for you. You will have to choose a wallet that supports the Dogecoin blockchain.

There are different types of wallets: browser, mobile or physical among others. For maximum security, a physical wallet like Trezor or Ledger is a very good alternative to store your DOGE.

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