Wondering how to buy Dogecoin on eToro? If yes, you have stumbled to the right page. Here, we will provide a quick and easy guide on how to buy DOGE on eToro. But before we move ahead, let’s look at the eToro platform.
What is eToro?
eToro, established in 2007, is a social trading and multi-asset brokerage platform based in Israel. With operations expanding to various parts of the world, including the United Kingdom, Australia, and the United States, eToro allows users to invest in diverse financial instruments such as stocks, cryptocurrencies, ETFs, and commodities. Renowned for its user-friendly interface and social trading features, eToro enables users to follow and copy the trades of successful investors.
The platform’s emphasis on cryptocurrency trading has made it an ideal choice for those seeking to trade various cryptocurrencies. You can buy Dogecoin on eToro and other cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. eToro supports users on their investment journey by providing educational resources through its eToro Academy.
Now, let’s look at how to buy Dogecoin on eToro and some other points that need to be considered while trading on the eToro platform.
How to Buy Dogecoin on eToro: 5 Easy Steps
With Elon Musk’s playful endorsement as the ‘DOGE Father,’ Dogecoin swiftly transformed from a lighthearted internet meme into a prominent player in the crypto world. With an impressive market cap exceeding $11 billion and garnering widespread popularity, this lively cryptocurrency has captivated investors globally. If you are also one of those captivated investors who want to buy Dogecoin on eToro, this step-by-step guide is for you.
This comprehensive guide will walk you through the simple and exhilarating journey of buying Dogecoin on eToro, a renowned social trading and multi-asset brokerage platform. Prepare for an exciting crypto adventure brimming with potential rewards as we explore the world of Dogecoin together!
Step 1: Create an eToro Account
To buy Dogecoin on eToro, visit eToro’s website and select the “Sign Up” option. Provide your email, and select a username and password for your trading account. Next, on the following page, you’ll be prompted to enter your name, phone number, zip code, and birthday, as requested by eToro. Prompts will guide you through the quick and hassle-free profile creation process.
Step 2: Account Verification
To meet the Know Your Customer (KYC) requirements, eToro mandates identity verification. Upload a photo of your driver’s license or passport on the platform to accomplish this. Additionally, verify your address by uploading proof of residency, such as a recent utility bill or bank statement. After submission, the eToro team will process your documents promptly.
Step 3: Fund Your Account
To kickstart your journey of buying Dogecoin on eToro, you must deposit at least $10 into your eToro account. The platform offers several convenient funding options, including credit cards, debit cards, PayPal, Neteller, and bank wire transfers. Choose the method that suits you best, and get ready to dive into the world of Dogecoin!
Step 4: Locate Dogecoin (Doge) on Your eToro Dashboard
With your account set up and funded, finding and buying Dogecoin on eToro is time. Head to the search bar at the top center of your screen and type “dogecoin” or simply “DOGE.” Once you spot it, click the “Trade” button to initiate your exciting crypto adventure.
Step 5: Make Your Doge Purchase
Now, the moment has come that you’ve been eagerly waiting for! Input the desired amount of Dogecoin you want to purchase, and eToro will promptly show its corresponding value in dollars. Furthermore, you’ll have the flexibility to set a stop-loss or take-profit price according to your preferences. Now click the “Open Trade” button to confirm and complete your purchase.
Things You Need To Consider While Buying Dogecoin On eToro
Now that you’re a proud Dogecoin holder consider these additional aspects of your crypto journey:
Storing Dogecoin: when you buy Dogecoin on eToro, it is stored in digital wallets. You can conveniently transfer your Dogecoin to an external wallet or create an eToro digital wallet. Transferring Dogecoin is straightforward and involves following a few simple steps on the platform.
Liquidating Your Assets: Should you choose to sell your Dogecoin, eToro offers a straightforward process. To sell your Dogecoin, open a new order form and click the “Sell” button. Enter the desired amount of Dogecoin you wish to sell, and then click “Open Trade” to complete the transaction.
eToro Safety: While eToro takes measures to safeguard your funds, remember that cryptocurrencies are volatile assets. The cash in your account is deposited into FDIC-insured deposit accounts, but your cryptocurrency holdings are not insured. Exercise caution, know potential risks, and make wise investment decisions.
Final words
Congratulations! You’ve successfully navigated the thrilling journey of ‘How to buy Dogecoin on eToro.’ This meme coin, once born out of humor, has now become an exciting investment opportunity. As you embark on this exciting journey, always conduct thorough research and avoid investing more than you can comfortably afford to lose. So, seize the moment and let the fun begin as you explore the world of Dogecoin on eToro! Happy trading!
