“The place can I purchase Dogecoin?” is the query on many retail traders’ minds because the Reddit military that skyrocketed GameStop to unprecedented heights shifts its consideration to cryptocurrency.
Although Coinbase is essentially the most broadly used cryptocurrency change in the US, the digital forex dealer doesn’t assist Dogecoin. Fortunately, there are different apps and web sites you should utilize to dive into the surging cryptocurrency craze.
Funnily sufficient, Dogecoin was initially based in 2013 as a joke; it was primarily based on the viral “doge” meme, which featured a Shiba Inu canine. Now, Dogecoin is not any laughing matter. As of this writing, the digital asset surged by 325% over the last 24 hours, buying and selling at $0.05 per unit. Cha-ching!
Dogecoin wasn’t getting as a lot love as different cryptocurrency darlings like Bitcoin and Ethereum — till SpaceX CEO Elon Musk, the person who just lately snatched Jeff Bezos’ ‘world’s richest’ throne, shook up the cryptocurrency realm by tweeting his adoration for the digital asset in August of 2019.
Musk continued to gas the fireplace behind Dogecoin final month with a short-and-simple tweet: “One phrase: Doge.”
Looking for to emulate the identical mania spurred by r/WallStreetBets, merchants from r/SatoshiStreetBets took Musk’s recommendation and zeroed in on Dogecoin as their GameStop-equivalent within the cryptocurrency realm. The Dogecoin motion unfold all through different social media platforms, together with Twitter and TikTok. Traders plan to carry the meme token till it is valued at $1. Others are extra formidable; they’re hanging in there for a $10 price tag.
Will Dogecoin get to $1? With GameStop presently buying and selling at $281 when it was valued at solely $18 in early January, something is feasible with the facility of Reddit.
The place to purchase Dogecoin?
Dogecoin is not as broadly out there for buying and selling as its extremely widespread crypto-counterparts Bitcoin and Ethereum. As talked about, you will not discover Dogecoin on Coinbase, however there are another web sites and apps you should utilize to purchase Dogecoin.
Sadly for many who need to boycott Robinhood, the stock-trading app is likely one of the few platforms that helps Dogecoin. As of this writing, Robinhood confirmed on Friday that it has quickly turned off on the spot shopping for energy for cryptocurrencies as a consequence of “extraordinary market situations.” In different phrases, you may have to attend till your funds settle earlier than you should buy Dogecoin on the Robinhood app.
For those who do not need to go the Robinhood route, you should utilize Binance as a substitute — if you happen to’re within the US, be certain that to click here for his or her US-based web site. There’s a catch, although. Binance does not assist all 50 states. Listed here are the eight states that Binance doesn’t serve at the moment:
- New York
One other challenge with the Binance platform is that it reportedly takes some time to onboard new members into its system.
AnchorUSD is a mobile-only app that lets customers commerce inventory and cryptocurrencies. On Monday, AnchorUSD added 9 new property to its platform, together with everybody’s favourite meme token: Dogecoin.
🪙➕ We have added 9 new property at present. All are instantly out there for buying and selling, together with on the spot purchases out of your checking account.· Monero – #XMR· Tron – #TRX· Dogecoin – #DOGE· Filecoin – #FIL· Zcash – #ZEC· Kusama – #KSM· Waves – #WAVES· Icon – #ICX· Nano – #NANOJanuary 26, 2021
With its beginner-friendly interface and impressively fast verification course of, shopping for Dogecoin is a smooth-sailing course of. AnchorUSD additionally includes a high-yield stablecoin curiosity account with as much as an 8% APY.
Robinhood, Binance and AnchorUSD are the three finest buying and selling platforms that you should utilize to purchase Dogecoin. Although there are different cryptocurrency exchanges, US customers are reporting issues in buying Dogecoin on Bittrex, Kraken, Uphold, Crypto and numerous others.
Be sure you totally analysis these buying and selling platforms to see which one finest aligns together with your monetary targets. And, after all, commerce responsibly. Solely make investments disposable earnings that you may afford to lose.
The above references an opinion and is for info functions solely. It isn’t meant to be funding recommendation. Search a duly licensed skilled for funding recommendation.