How To Buy Dogecoin Stock
Dogecoin like bitcoin is a cryptocurrency, founded by software programmers Billy Markus and Jackson Palmer. It was launched on December 6, 2013, and steadily grew its online community and market capitalization to $85 billion on May 5, 2022. Dogecoin is one of the highest demanded coins in the crypto market so it should interest you to know how to buy Dogecoin Stock.
Investing in Dogecoin is a good investment since the coin is one of the leading coins in the crypto market. This article is a step-by-step guide on how to buy Dogecoin stock. If you’re interested in purchasing Dogecoin stock, you should follow these steps to achieve your results.
How To Buy Dogecoin Stock
1. Decide How Much You Want To Invest
You must have heard viral stories of people who spent a little amount of money on buying DOGE and became billionaires. However, as an investor, you should invest with caution. Cryptocurrencies are extremely risky investments and Dogecoin is not an expectation.
When deciding how much you want to invest, ensure it’s an amount you will be comfortable losing. Also invest money you won’t need immediately because like most investments, Dogecoin stock can also take a while before it starts yielding profits.
2. Select a Cryptocurrency Brokerage App
Next how to buy Dogecoin stock is to select a brokerage app. You can choose to use a beginner-friendly application like Robinhood. There, you’ll meet buyers and sellers who want to trade their coins for dollars.
Even though Dogecoin has grown in popularity, it is still not available on all cryptocurrency exchanges. So when choosing an exchange platform, make sure it is available there.
3. Decide on a method of payment
When deciding on a method of payment, you should pay through an online account, savings account, or cheque. If you use a credit card to make your crypto purchases, your credit card company will treat the money as a cash advance, which will result in a higher APR and additional costs.
4. Make a Dogecoin Purchase
After funding your account, the next step on how to buy Dogecoin stock is to make the purchase. Simply search for Dogecoin or its symbol, ‘DOGE’ on the trading purchase interface, and select your trade type and the number of Dogecoin shares you want to buy. Your broker will execute the order based on the trade type you select.
5. Think about your Storage Possibilities
When your order has gone through, your Dogecoin will be stored automatically in the crypto wallet of your exchange or brokerage. You can decide to move it to another wallet. Most investors prefer storing their coins in wallets that are not connected to the internet.
Conclusion
Investing in Dogecoin is a good but risky investment. The steps on how to buy Dogecoin stock are not technical. I hope this article serves as a good guide should you decide to invest in Doge.
