Dogecoin, originally conceived as a joke, has transformed into one of the premier meme coins presently attainable. Since its launch in 2013, Dogecoin’s market worth has surged to $10.13 billion, highlighting its viability as a promising cryptocurrency venture.
Almost every cryptocurrency exchange, eToro included, provides access to Dogecoin. This article will guide you on acquiring Dogecoin specifically from this platform.
What is eToro?
eToro was established in 2007 with the goal of giving investors all around the globe a straightforward and transparent trading and investing platform. eToro is a preferred option among those trying to build and increase their money since it offers over 60 crypto assets for buying, selling, and trading. The organization’s mission is to democratize trading and investing by offering essential tools and information, making these opportunities accessible to everyone.
In addition to webinars, video tutorials, and ebooks, eToro offers users real-time charts. Users can access historical price data and news updates that provide valuable information on events impacting the crypto market.
The platform’s excellent features and simple layout the platform has captivated millions of investors, establishing it as a leading choice for Dogecoin investing.
This presents an outstanding investment opportunity as it entails zero deposit fees and only incurs minimal transaction costs. eToro has also created an app for mobile trading and provides customers with a variety of payment options. They also provide a separate e-wallet for holding Dogecoin.
Is eToro safe?
With the collapse of FTX last year, many investors have now become worried about the safety of many exchanges. While cryptocurrencies are volatile, eToro has taken certain measures to ensure your Dogecoin investment is safe.
The platform uses security precautions including SSL encryption and two-factor authentication to guarantee the protection of user data. Furthermore, CySEC, ASIC, and the FCA are among the recognized financial regulators in Europe, Australia, and the UK that oversee it. This makes eToro an excellent option for Dogecoin investors
eToro Account Setup
Before you do anything on the platform, you must set up an eToro account. To do this, visit the platform and click the green ‘Join eToro’ button. A registration form will appear requiring you to fill in some information and check some boxes.
Following account creation, eToro will email you a code you must enter to confirm your account. You will be needed to present a legitimate government-issued ID, and depending on your place of residency, you may need extra information to authenticate your identity. This additional degree of verification is added by eToro to help avoid fraud.
How to Buy Dogecoin on eToro
Buying Dogecoin or any other financial asset requires you to do extensive research to ensure you have an understanding of the crypto market conditions.
eToro’s market analysis tools and charts serve as valuable resources for gaining insights into Dogecoin’s future outlook. Utilizing these tools can provide a deeper understanding of the cryptocurrency’s potential trajectory.
On eToro, prices are determined using the Bid-Ask spread, which is derived from an internal market that compiles order books sourced from external liquidity providers.
Depositing funds
Prior to purchasing Dogecoin, you must fund your eToro account. It’s a good thing that eToro allows a variety of payment options, such as bank transfer, PayPal, Visa, and MasterCard.
To sign into your eToro account and deposit money, just select “Login” from the left navigation menu in the top right corner of the page. You have the option of making a deposit in EUR, USD, GBP, or AUD. The minimum deposit amounts vary based on the nation and currency you pick, so exercise caution and double-check in advance.
Users on the platform can buy DOGE for as little as $10, but you have to remember that eToro charges a flat 1% fee for trading all crypto and adds it to the market price.
Buying Dogecoin on eToro
Once you deposit the funds, you can go ahead and buy Dogecoin. You will first need to locate the cryptocurrency. You can search DOGE in the search bar.
Once you locate DOGE, select it and click on ‘Trade’ and then ‘Buy’.
A page will open where you will need to indicate the number of units you would like to buy. The units basically stand for the amount you are willing to invest in DOGE. When done, click on ‘Open Trade’.
When you click on ‘Open Trade’ eToro will be the middle man and trade on your behalf, and within minutes, you will have access to your DOGE. eToro is a transparent platform and the platform’s fees are open for all to see.
Your order will be executed by eToro at the going market rate. Keep in mind that using eToro to purchase and sell cryptocurrencies can incur some costs. Before making your deal, make sure to review the fee schedule.
Following your purchase, you may decide whether to retain your Dogecoin in your eToro wallet, the Dogecoin wallet, or any other wallet of your choosing.
As one of the greatest cryptocurrencies with the quickest transaction speeds, Dogecoin is well-liked among traders that need to move money around rapidly. Once you’ve registered on eToro, it’s crucial to engage in responsible trading by maintaining knowledge and exercising prudence.
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