Billy Marcus and Jackson Palmer created Dogecoin in 2013 as a mockery of the cryptocurrency craze of the time. The token was quickly forgotten, and its value was almost zero.
After being forgotten for so long, Dogecoin is worth almost zero and is back in the spotlight thanks to a tweet in January 2021, not long after the Gamestop saga. Since then, it’s been an ecstatic mix of billionaires like Mark Cuban and celebrities like Mia Khalifa and Snoop Dogg tweeting about the matter.
The most influential endorsement came from Elon Musk, the world’s second richest man and CEO of Tesla, whose persistent tweets about Dogecoin sent its value skyrocketing. From the cryptocurrency for fools, its market cap has grown to over $45 billion, hitting an all-time high of $0.49, according to Coinmarketcap.
In this article, we will be discussing the best DOGE trading platform in 2022.
The Best DOGE Trading Platform in 2022
Another online broker that allows you to trade Dogecoin in minutes is Binance. This cryptocurrency exchange is the largest platform in this industry, with more than 100 million clients on its books.
However, Binance has a dedicated platform for US clients, which offers more than 60 digital currencies. Regarding how to trade DOGE at Binance, you have two options if you wish to use US dollars. The cheapest way is to deposit funds with a domestic bank wire or ACH. This is because Binance will not charge you any transaction fees.
The other option is to deposit funds with a debit or credit card. The payment will be processed instantly once you have uploaded your ID, albeit, Binance will charge you 4.5% in fees. Furthermore, you will also pay an instant buy fee of 0.5%, taking the total debit/credit card charge to 5%.
On the other hand, if you have digital currencies stored in a private wallet, you can deposit the funds into Binance and subsequently swap the tokens for Dogecoin at just 0.10% commission. When it comes to security, we must clarify that any licensing body does not regulate Binance.
While cryptocurrency investors typically use Binance with prior experience, Coinbase caters to an entirely different demographic. That is to say, Coinbase is best used by those with little to no experience in trading digital currencies like Dogecoin online.
To get the ball rolling with Coinbase, you will initially need to create an account by entering some basic personal information before uploading a copy of your government-issued ID. Once verified, you can then buy Dogecoin with US dollars across a variety of supported payment methods. For example, if you elect to transfer funds via ACH, you won’t pay any deposit fees.
Instead, when the funds arrive, you will pay a standard commission of 1.49%. If speed is important to you, you can also buy Dogecoin in the US with a debit/credit card or PayPal. Coinbase will, however, charge you a fee of 3.99% when using these payment methods. Furthermore, additional fees will apply when you elect to make a withdrawal.
On the flip side, although Coinbase is an expensive broker to consider using when you buy Dogecoin, it is one of the most trusted platforms in this industry. For example, Coinbase has been trading since 2012, makings it one of the longest-standing cryptocurrency exchanges in the online arena.
You should consider Capital.com if you have no experience trading crypto assets, including trading dogecoin. There is no overly complex trading jargon on the platform.
The trading platform is straightforward and easy to use, so placing orders is a snap. A wide variety of crypto CFDs is available at Capital.com. Crypto-fiat and crypto-cross pairs covering various coins are included. Spreads on major pairs are competitive, and the platform charges no-day trading commissions.
Capital.com’s minimum requirement of $20. The Capital.com demo account allows you to trade crypto in real-time without making a deposit. Before investing any money, you can learn the ropes of crypto trading with this. In addition, your money is always safe with Capital.com because it is heavily regulated.
eToro is one of the best places to trade Dogecoin and other best altcoins. The most important aspect of choosing eToro as your go-to broker is that the platform is regulated by the SEC and registered with FINRA.
Moreover, for added protection, you will be pleased to know that the broker is also regulated by licensing bodies in Europe and Australia. Whether you are a seasoned pro or a complete beginner, you will appreciate that eToro offers some of the lowest trading fees in this space.
For example, when you deposit US dollars into your account with a debit or credit card, you will not pay any transaction fees. Compare this to the likes of Coinbase, and you will pay 3.99%. This zero-fee deposit offering is also the case with e-wallets like Skrill and PayPal, as well as ACH and domestic bank wires.
Another thing to note is that when you buy Dogecoin at eToro, you only need to cover the spread. In most cases, the spread at eToro on cryptocurrency trades starts from just 0.75%. In addition to a strong regulatory framework and industry-leading fees, we also like eToro’s budget-friendly framework.
The last by not the list exchange to consider when trading Dogecoin is Crypto.com. Although this platform was only founded in 2016, it is now one of the largest exchanges in the cryptocurrency trading arena. It attracts billions of dollars daily and currently serves millions of clients of all skill sets.
Perhaps one of the most attractive features of using Crypto.com is the process of opening an account, uploading an ID, making a deposit, and subsequently trading Dogecoin can be completed in just 5 minutes; this is because Crypto.com uses automated verification tools, so your government-issued ID will be validated near-instantly.
Another great perk of using Crypto.com to buy Dogecoin is that you can easily diversify across many other digital currency markets. Crypto.com hosts over 250 different coins of all shapes, sizes, and market capitalisations. In addition to this, Crypto.com also offers fully-fledged savings accounts.