The internet is full of information about the easiest way to buy Dogecoin. There are tons of different opinions and methods on how to do this, but none of them are easy. This article will show you the absolute easiest way to buy Dogecoin in 2021. All you need is a computer and an internet connection!
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What is DOGE?
It’s been a long time since cryptocurrencies were first introduced to the public. At first, they were greeted with mixed reactions; however, the industry is booming now. There are a lot of exciting projects happening worldwide.
Dogecoin is one of the most popular. Dogecoin was introduced in December of 2013 and has been described as the “fun and friendly” internet currency for its memorable mascot, the Shiba Inu dog breed.
The original idea behind this project came from wanting people to remember cryptocurrencies by something more than some random string of numbers or letters with no meaning or significance.
Similar to Bitcoin, Dogecoin is built on a technology that helps make the cryptocurrency affordable and available to lots of people. Dogecoin also trades at many major exchanges around the world. This makes is relatively easy to buy.
Brief History of Dogecoin
Now for a quick and dirty history lesson. Dogecoin was created in late 2013 by programmer Billy Markus.
Dogecoin’s creators wanted to create a fun cryptocurrency that could help people better understand crypto technology and blockchain. The goal was to make something unique and affordable for people who want to buy crypto but weren’t interested in investing large sums into cryptocurrencies such as Bitcoin (BTC).
By the way, if you’re interested in other cryptocurrency, you can read here on how to make money by investing in Bitcoin.
While it started off as a joke coin, Dogecoin has quickly moved up the ranks of the top cryptocurrency projects. Currently, it ranks in the top ten. Even though it started out as something witty and funny, Dogecoin is here to stay.
Easiest Way to Buy Dogecoin
There are a few different ways to buy Dogecoin. The problem, though, is that most of them are complicated.
Most of these methods involve opening an account with an online cryptocurrency exchange, buying Bitcoin, and then trading your Bitcoin for Dogecoin. While this is how a lot of people buy Dogecoin, there’s actually an easier way.
Enter Robinhood.
Robinhood
The absolute easiest way to Buy Dogecoin in 2021 is to use the online brokerage firm Robinhood.
Robinhood is a website (and app) that currently allows US citizens or permanent residents with a legal address within the 50 US states or Puerto Rico to buy stocks, ETFs, and cryptocurrencies like Bitcoin (BTC) or Dogecoin.
Anyone over 18 that meets the citizenship requirements above can sign up for a free account. All you need to provide is your name, email address, phone number, and some other personal information like date of birth and social security number.
Advantages of Using Robinhood to Buy Dogecoin
Robinhood is perfect for people who want to use small amounts of currency online to trade stocks and cryptocurrencies but aren’t interested or able to invest large sums into crypto projects such as Bitcoin (BTC).
Robinhood also provides free real-time trade alerts and the ability to track a trader’s portfolio straight from a phone.
So what are some of the advantages of using Robinhood to buy and sell Dogecoin?
The biggest advantage is its ease of use. You don’t need any financial know-how. All it takes to start investing in cryptocurrencies like Dogecoin is to link your bank account to Robinhood and buy the coin.
Another advantage to using Robinhood to invest in Dogecoin is that you can use the app while you’re on the go. No more having to constantly monitor your PC or laptop for crypto market changes. This is especially important because unlike traditional stocks, you can buy and sell cryptocurrency 24 hours a day, 7 days a week. Having the ability to do this directly from your phone is an incredible asset.
How to Buy Dogecoin on Robinhood
Buying Dogecoin on Robinhood is a relatively straightforward process. It consists of the following four steps:
- register for a Robinhood account
- link your Robinhood account to your bank account
- transfer money from your bank account to Robinhood
- buy Dogecoin
Register for a Robinhood Account
The first step for buying Dogecoin on Robinhood is to register for an account through the Robinhood app or Robinhood.com.
(Remember that you have to be a US citizen and over 18 years old.)
This is super easy to do. You’ll need to provide Robinhood with some basic information including your name, address, phone number, and social security number.
Link Your Account to Your Bank
The next step is to link your Robinhood account to your bank account that you’re going to use to fund your Robinhood. You’ll do this through the Robinhood online interface, either through the Robinhood website or the Robinhood app.
Most of the time this happens almost instantaneously. However, sometimes it can take a little longer for the verification process on both ends to complete.
Fund Your Robinhood Account
The next thing to do to easily invest in Dogecoin is to transfer money from your linked bank account to your Robinhood account.
While the actual money transfer process can take a couple of days, Robinhood lets you “borrow” the money that you’re transferring (up to $1,000) so that you can start trading right away. That means that as soon as you authorize the bank transfer, you can head to step number four.
Buy the Dogcoin
The final step for buying Dogecoin through Robinhood is to… buy the Dogecoin!
Wrap Up
While there are a lots way to buy crptocurrency online, the absolute easiest way to buy Dogecoin in 2021 is to use Robinhood. It’s easy setup, convenience of use, and real-time investment tracking is ideal for both new investors and those that have been investing for a while.
FAQ – Easiest Way to Buy Dogecoin
Will Dogecoin ever reach $1?
‘s difficult to predict the future. What we can do is focus on what Dogecoin offers for investors right now and how it could potentially be an important asset in a portfolio of digital assets. Hopefully it will reach $100 a coin 🙂
Why do people buy Dogecoin when it is just a joke?
The Dogecoin community is a fun and welcoming group of people that want to see the currency succeed.
What happens next with crypto investing?
It’s difficult to predict what will happen over the course of ten years but we can use past data points as an indicator of how things could evolve. Crypto assets are becoming more mainstream every day so there will always be an opportunity for investors looking to make money from speculation on future prices when new coins are released or tokens become available.
Which cryptocurrency is better to buy: Dogeocoin or Bitcoin?
Bitcoin is more popular but there are benefits to Dogecoin as well. In the end, you’ll have to do your own due diligence and figure out which one makes more sense for you.
What security precautions should I take before buying my first digital currency?
Before making your purchase make sure that you do thorough research into the risks involved with cryptocurrency trading and what safety measures need to be taken before purchasing anything online or anywhere else. This will help protect both yourself and those around you from fraudsters trying to scam people out of their hard earned money.
Can you buy Dogecoin on CashApp?
No, you can’t buy Dogecoin on CashApp or PayPal. Robinhood is really the easiest way to buy Dogecoin right now.
