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Buy Dogecoin in the USA

Last updated 12th May 2022
Disclosure

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.

1
eToro
Minimum Deposit
$200
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
2
Coinmama
Minimum Deposit
$100
Exclusive Promotion
User Score
9
Easy to use tool
High profit potential
Offers Phone Support
3
Atani
Minimum Deposit
$100
Exclusive Promotion
User Score
9
Popular among traders
Fast system for trading
Popular for beginners
4
Coinbase
Minimum Deposit
$50
Exclusive Promotion
User Score
6
Trade and invest in over 25 cryptocurrencies
Extremely simple user interface
Over 68 million customers
5
Paybis
Minimum Deposit
$50
Exclusive Promotion
User Score
5
First transaction fee free
24/7 customer service
Instant payouts
Your capital is at risk when using the above platforms

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.

Centralized Exchanges

Fiat to crypto exchanges will allow the exchange of USD to Dogecoin. Crypto to crypto exchanges will require you to have another crypto like Bitcoin, Ethereum, or Tether to swap for Dogecoin.

Pros

Easy to use
Wide adoption
High liquidity
Some exchanges allow the transfer of Dogecoin away from the exchange

Cons

Security concerns
Higher fees

Examples of exchanges where you can use the dollar to buy Dogecoin are Binance US, Coinbase, and FTX US.

Brokers

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.

Pros

Multiple payment methods are available
Secure
Provide more options apart from spot buying
Heavier regulatory scrutiny from the government

Cons

Dogecoin is stored on the platform
Maybe complicated for beginners
Not specialized in crypto trading

In-Person Purchase

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.

Pros

Simple exchange process
Method promotes privacy

Cons

Possibility of getting scammed
Limit to the number of Dogecoin you can buy due to liquidity issues
May take longer to find a willing seller

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.

For Beginners

Coinbase

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.

Key features

  • High liquidity

  • Coinbase Pro for advanced users

  • Crypto to crypto and fiat to crypto trading

  • Offers institutional investor accounts

  • Cold offline storage of crypto assets.

Pros

A learning hub for beginners
Accepts USD for Dogecoin
Beginner-friendly user interface
Insurance on your Dogecoin asset when stored on the exchange’s account.
A wide selection of cryptocurrencies

Cons

Higher and complex fees structure compared to other exchanges
Limited customer support (email option only)

Kraken

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.

Key Features

  • High liquidity

  • Air-gapped cold storage

  • Margin trading

  • Crypto watch, indices, and dark pool

  • High-level platform security

Pros

Great security features like 2FA, air-gapped cold storage, SSL encryption, and a bug bounty program.
Over the counter(OTC) transactions
Live chat and email support
High withdrawal limits

Cons

Considerable time for Intermediate and pro-level accounts approval.
Does not have a crypto wallet

Crypto.com

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.

Key features

  • IOS and android mobile app

  • Tax support feature

  • Buy Doge with USD

  • Strong security, including biometric fingerprint authentication on the mobile app

  • Price alerts

Pros

Earn interests on crypto stored on the exchange.
Available in 49 of the 50 states
Visa card with rewards

Cons

Does not have an education hub
Higher fees for those trading low volumes

Dogecoin ATM

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.

Key feature

  • 1800 locations across the US

Pros

Easy to use
Buy Dogecoin anonymously
Fast transactions

Cons

Higher fees

For Experienced Users

Binance US

Binance US is an offshoot of Binance crypto exchange. The exchange boasts of low fees and a huge number of cryptocurrencies.

Key features

  • Comprehensive trading tools

  • Advanced trading features

Pros

Low trading fees
High liquidity
Wide variety of crypto assets, including Dogecoin

Cons

Not available in all states
Complicated site especially for beginners
Has run into regulatory and security issues in the past
Verification may take upwards of 5 days

Gemini

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.

Key features

  • Advanced order types

  • Advanced trading tools

  • Crypto to crypto trading

Pros

Available across all states
An advanced trading platform called The Gemini ActiveTrader for professional trading.
Earn crypto interest on your Dogecoins
A wide number of cryptocurrencies, including Dogecoin
A comprehensive learning hub

Cons

Higher fees
Not beginner-friendly

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.

Binance US appears to beat Gemini when it comes to low fees and user experience.

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.

Bank Transfers

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:

  • ACH transfers

  • Domestic wire transfers

Pros

Suitable for large and small deposits
Free or minimal deposit fees on most exchanges.
Easy to use
Wide adoption

Cons

May take more than 2 days for a deposit to reflect on the exchange.

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.

Pros

Easy to use
Quick transactions
Secure especially with the 3D secure feature.
Wide adoption on many exchanges

Cons

Higher fees compared to other methods
Limits on the transaction amount.

E-Wallets

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

Pros

Easy to use for seasoned users
Easy signup process
Secure

Cons

May be subject to multiple fees, including deposit and processing fees.
Limited adoption

Final thoughts

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.

FAQs

Do I need to pay tax on profits in the USA?
Can I buy Dogecoin without an ID in the USA?
Khashayar Abbasi

Khashayar Abbasi

Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.