Buy Dogecoin [DOGE]
Dogecoin has been popular in the crypto ecosystem for quite a long time already. The asset remains on top of the crypto charts. The attention from celebrities like Elon Musk attracts even more investors. In the article, we will discuss the token’s characteristics as well as ways to purchase it.
Briefly about Dogecoin
DOGE was created in 2013 as a sarcastic response to the rise of BTC. The developers were creative while selecting the token’s logo. They chose a meme with a Shiba Inu dog as a “face” of the asset. The logic behind their choice was to create a simple and affordable asset. The token emerged as a result of the Litecoin fork. It’s based on the PoW algorithm and has an unlimited total supply. In the DOGE network, new blocks are generated fast (≈1 minute).
How to buy Dogecoin?
DOGE owes its popularity to Elon Musk, who has mentioned the asset in his social network accounts multiple times. Most of his posts dedicated to DOGE were positive, which undoubtedly contributes to the recognition of the asset.
Dogecoin was mainly used for “tips” on Twitter and Reddit. Users were rewarded with tokens for content distribution in these social networks. Today, there are a lot of ways of purchasing DOGE. We will discuss them next.
Where to buy Dogecoin?
DOGE can be purchased on centralized exchanges, P2P platforms, and exchangers. Besides, there are crypto ATMs available in some countries.
Purchasing DOGE on centralized exchanges (CeXs)
It would be best to choose an exchange with a government-issued license. Purchasing crypto on such platforms is safer due to the low possibility of scams. However, it’s most likely that users will have to pass KYC verification, which is often considered a common disadvantage of most centralized exchanges.
There are different ways to buy DOGE on such platforms. On WhiteBIT, the options include placing orders, buying via credit card, or using the Exchange page. You should research the options before making deposits.
Buying Dogecoin on exchangers
Purchasing DOGE from exchangers is also very widespread. The main advantage of this method is little to no formalities. Such platforms usually don’t oblige users with any verifications. Besides, exchangers support a wide range of payment methods.
The downside is that fees on exchangers are higher than average (depending on the asset). Moreover, it’s easy to make a mistake while filling in personal data. It can lead to financial losses.
Buying Dogecoin on P2P platforms
While on centralized exchanges and crypto exchangers users have to trust their assets to 3rd parties, P2P platforms are decentralized and allow them to manage crypto without intermediaries. On such platforms, the exchange is conducted directly between two users. The main advantage is the elimination of fees. Besides, on P2P platforms, the exchange rate is usually higher as compared to average market offers. An example of such a platform is Bitcoin Global, created by WhiteBIT.
More options of purchasing Dogecoin
One of the promising methods of operating with digital assets is crypto ATMs. They function just like regular ones. Users enter the address of their DOGE wallet and deposit funds. This method is simple and fast, but it’s not available to everyone interested. Moreover, operations with crypto ATMs are conducted with the highest fees compared to other methods mentioned earlier.
What to do with Dogecoin
Buying Dogecoin on WhiteBIT
You can purchase DOGE on WhiteBIT by placing an order. The available pairs are DOGE/USDT and DOGE/BTC. Here’s how to do it: