Buy Dogecoin in the USA
Dogecoin, like Bitcoin, is a peer-to-peer digital cryptocurrency with a vibrant community.
This page explains all the intricacies of buying Dogecoin for beginners and seasoned traders. We examine the prospects going forward and how best to trade Dogecoin in the USA.
Best Brokers To Buy Dogecoin in the USA in 2022
Due to its popularity, there are many platforms where buyers can purchase Dogecoin. It may be challenging to pick the best fit, but we have compiled a list of the best providers. Our selection consists of providers with low fees, good customer support, and easy deposits in the USA.
What Options Do I Have When Buying Dogecoin in the USA?
There are multiple ways to buy Dogecoin. The most prevalent is centralized exchanges due to straightforward processes. We explain the different options with their pros and cons.
Examples of exchanges where you can use the dollar to buy Dogecoin are Binance US, Coinbase, and FTX US.
Brokerage firms help investors take advantage of Dogecoin's price movement. Other brokers allow investors to buy, sell and store Dogecoin. They can also manage the buying and selling of Dogecoin on your behalf. Prime brokerage firms include eToro and Robinhood.
Dogecoin is powered by its vibrant community. There are many Dogecoin Peer-to-Peer platforms in the US, where you can join and seek a willing seller. The sellers will most likely prefer cash via a bank transfer. We advise the use of an escrow service and a mediator if the exchange faces challenges.
How To Buy Dogecoin in the USA?
There are two standard methods to buy Dogecoin in the USA. The simplest methods to buy Dogecoin in the USA is to exchange USD for Dogecoin on fiat to crypto exchanges. Here is a step by step guide:
Step 1: Find a suitable exchange
Step 2: Sign Up and fund a purchase
Step 3: Make a purchase
Step 4: Secure storage of Dogecoin
Where To Buy Dogecoin in the USA?
We delve deeper into exchanges and brokers that will provide value for your money. We understand that your final choice will largely depend on whether you are a beginner or an advanced user. We cover both categories below.
Coinbase is among the leading crypto exchanges by market volume. It is famed for its intuitive and straightforward user interface. The user experience on Coinbase is just better than most exchanges.
Coinbase Pro for advanced users
Crypto to crypto and fiat to crypto trading
Offers institutional investor accounts
Cold offline storage of crypto assets.
Kraken is another top exchange based in the USA. Investors can buy Dogecoin using USD, BTC, and USDT. Kraken is renowned for its better customer support compared to Coinbase. The flat fee structure is easy to understand and lower compared to cryptos.com and Coinbase.
Air-gapped cold storage
Crypto watch, indices, and dark pool
High-level platform security
It is another crypto exchange that supports Dogecoin. Apart from purchasing Dogecoin, investors can earn interest when they store their coins on the exchange. The fees are better compared to Coinbase.
IOS and android mobile app
Tax support feature
Buy Doge with USD
Strong security, including biometric fingerprint authentication on the mobile app
There are about 1800 Dogecoins in the USA. Buyers can purchase Dogecoin in USD. CoinFlip provides a map of the locations to find the ATMs.
1800 locations across the US
For Experienced Users
Binance US is an offshoot of Binance crypto exchange. The exchange boasts of low fees and a huge number of cryptocurrencies.
Comprehensive trading tools
Advanced trading features
This is an exchange that offers a solid option for professional traders. Apart from the buy/sell option, investors can use various trading instruments to try and get profits on their Dogecoin. It is available in all states.
Advanced order types
Advanced trading tools
Crypto to crypto trading
Gemini is available in all states compared to Binance US, which serves 43. Some of the top states excluded by Binance US are New York and Texas.
What To Consider When Buying Dogecoin in the USA?
Before purchasing Dogecoin, there are fundamental considerations you must evaluate. When you are set to buy Dogecoin, consider the following:
Use case: The founders of Dogecoin admit it all started as a joke. The memecoin is mainly driven by its vibrant community. Dogecoin is presently top 10 by market cap, but investors have to ask themselves if the trend is sustainable in the long-term. However, with DOGE being accepted by Space X and the Dallas Mavericks team as a payment option, the prospects certainly now look better.
Competition: There is increased competition from other memecoins. Consider that hype may shift significantly from one meme token to another. The SHIBA INU coin is one such competitor which has gathered some considerable following.
Volatility: Like any other cryptocurrency, Dogecoin is subject to considerable price swings. Consider the market trends, fundamental analysis, and market sentiment that may affect the prices before purchase.
Taxes: Gains on Dogecoin sales are liable to taxes.
Prices: While buying Dogecoin when the price is low is a considered strategy, note that price fluctuations can be very common
What Payment Methods Can I Use To Buy Dogecoin in the USA?
There are multiple payment options in the USA which users can utilize to buy Dogecoin. The fees levied on a specific method influence the choice of a deposit method. We discuss some of the popular payment methods in the USA.
A majority of exchanges that accept fiat will allow for bank transfers. Users have to link their bank account to the exchange by providing their account details. There are two stand-out ways to do bank transfers in the USA:
Domestic wire transfers
Credit and Debit Cards
These are popular with US residents. Credit cards allow users to buy Dogecoin on credit. They offer a straightforward option for funding a purchase. Users have to provide their card details and approve the purchase. Visa and Mastercard cards are readily accepted.
These are online payment services that are integrated into an exchange. Some popular e-wallet options to buy Dogecoin include Skrill, Paypal, Advcash, and Apple pay.
Pros and cons of E-Wallets
Dogecoin is a popular memecoin that is supported by a vibrant community. Buying Dogecoin with USD is relatively easy, especially on fiat to crypto exchanges and brokers.
We have analyzed the different ways and payment methods to acquire Dogecoin. Before purchase, consider factors like volatility.
Coinbase and Binance US stand out as the best options to buy Dogecoin for beginners and experts, respectively. They both offer good user experiences and have multiple payment options for US residents.