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    How to buy Dogecoin on Coinbase - 6 easy steps to buy DOGE - Market247.io

    ByChris
    Aug 10, 2022

    Dogecoin (DOGE), a digital currency, had a substantial increase in popularity in 2021. Dogecoin has reached notable price highs and is accessible on several centralized cryptocurrency exchanges, such as Coinbase.

    Coinbase is a public crypto company and they are very well-known for buying and selling different cryptocurrencies.

    You might wondering how to buy Dogecoin on Coinbase. Take a look at this article, Market247.io will show you 6 easy steps to buy DOGE.

    What is Dogecoin?

    how-to-buy-dogecoin-on-coinbase-definition

    Before you learn how to buy Dogecoin on Coinbase (DOGE), let see the definition of Dogecoin (DOGE) first.

    In 2013, Dogecoin (DOGE) was developed as a fun alternative to established cryptocurrencies like Bitcoin. The Shiba Inu logo and name are based on a meme. Dogecoin is purposely abundant in contrast to Bitcoin, which was created to be scarce. Its supply is unlimited, and 10,000 new coins are mined every minute.

    For the majority of its history, Dogecoin was viewed as a funny "memecoin," extremely viral among its community, but with just marginal value. That changed in 2021: even if each coin is only worth a few cents, Dogecoin is now among the top ten largest cryptocurrencies by market cap, with a total value that has exceeded $50 billion (see the current price).

    How is it even real? Because of the large global Dogecoin quantity. Dogecoin was developed to be numerous, in contrast to Bitcoin, which is intended to be rare and resistant to inflation. There are around 130 billion DOGE in circulation, and miners make 10,000 more per minute.

    Dogecoin (pronounced "dohj coin") was developed as a humorous, low-stakes alternative to Bitcoin; abundance is a major component of the concept. Doge attracted a passionate online community as soon as it was introduced in late 2013; this community has used DOGE for anything from paying strangers for insightful Reddit comments to funding the Jamaican bobsled team's trip to the 2014 Winter Olympics in Sochi.

    What makes Dogecoin valuable?

    how-to-buy-dogecoin-on-coinbase-value

    Once you want to know how to buy Dogecoin on Coinbase, you might wonder why you should invest in this coin or what make it valuable.

    The market values DOGE similarly to any other asset based on supply and demand. Given the massive and expanding supply, a tremendous increase in demand was required to push prices as high as they have recently.

    Prices increased by around 7,000 percent in the first quarter of 2021 as a result of retail investors on Reddit (including the wallstreetbets subreddit that gave rise to the "memestock" craze), the wider crypto boom, and tweets from Tesla founder Elon Musk that appeared to be made in jest, culminating in his appearance on Saturday Night Live in May 2021.

    In 2021, rapidly rising DOGE prices received a lot of media attention (as well as social media posts), which briefly started a loop that attracted new investors and raised prices even higher. When an asset has such significant increases, FOMO, or "fear of missing out," trigger many traders to find out how to buy Dogecoin on Coinbase. DOGE is still a very volatile cryptocurrency, thus there is no way to predict whether its value will rise or fall in the future.

    How to buy Dogecoin on Coinbase (DOGE)

    how-to-buy-dogecoin-on-coinbase-tutorial

    You might have many concerns on how to purchase Dogecoin on CoinBase. Fortunately, Market247.io will demonstrate how to buy Dogecoin on Coinbase everywhere Coinbase is available. It is quick, simple, and secure. Here's how U.S. residents may purchase Dogecoin using the Coinbase app.

    Step 1: Sign up for a Coinbase account Install the Coinbase app, then begin the registration procedure. To transact, you will need a valid ID, and you could also be asked for evidence of your address, so be prepared with both. Depending on where you reside, verifying your ID can need more time than a few minutes.

    Step 2: Add a payment option Connect a payment method by tapping the payment method box. You can start a wire, use a debit card, or utilize your bank account.

    Step 3: Start a trade Select "Buy" from the list of choices after pressing the icon.

    Step 4: From the list of assets, pick Dogecoin Enter "Dogecoin" into the search box to find Dogecoin. Tap Dogecoin to access the buy screen when it appears in the results.

    Step 5: Input how much you want to buy Enter the desired amount in your native currency using the number pad. That will be immediately converted to a Dogecoin amount by the program.

    Step 6: Complete your purchase When ready, select "Preview buy." The details of your purchase will be shown. Verify everything is in order before finalizing your transaction. You've successfully purchased Dogecoin.

    Conclusion

    Speculators can trade Dogecoin directly on various websites or invest in the businesses that are making it and other cryptocurrencies a reality, just like they would have done with the "picks and shovels" businesses that supported the Gold Rush. In this manner, traders would be able to profit without needing to predict the outcome of any one cryptocurrency.

    It's essential to understand the dangers and opportunities before investing in bitcoin or any other type of investment. Additionally, because many cryptocurrencies are completely unbacked, traders face the danger of losing everything. As a result, people who are involved in the crypto space should exercise prudence and refrain from adding funds to a position they cannot afford to lose.

    Market247.io hopes that by reading this article you will get how to buy Dogecoin on Coinbase (DOGE). If you like this, please follow us for more.

    FAQ that related to “How to buy Dogecoin on Coinbase (DOGE)”

    How much does it cost to buy 1 Dogecoin?

    $0.06765 per DOGE

    Is Coinbase the best place to buy Dogecoin?

    Coinbase is best used by those with little to no experience of trading who are finding out how to buy Dogecoin on Coinbase (DOGE).

    How do I cash out my Coinbase Wallet?

    On the Home page, select More, then tap Cash out. Select your transfer destination and enter the amount you wish to withdraw, then select Preview cash out. To finish this action, press Cash out now.

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