Over recent years, Dogecoin has gained an immense amount of popularity, including in the realm of cryptocurrency and blockchain technology. I’m not lying when I say that it might be the best currency to invest in 2023. Something that initially began as a joke quickly evolved into a coin having amassed enough support to be placed among the top ten largest cryptocurrencies by market cap. A prominent social trading and investment platform called eToro allows users to buy and trade a broad range of assets, notably virtual currencies like Dogecoin.
The platform has been embraced by investors of any level of expertise since it has a user interface that is simple and offers a variety of tools specifically designed for investors. Low-cost and engaging coins like Dogecoin ($DOGE) are often picked by rookie traders or investors. In the cryptocurrency market, where buyers are tempted to inexpensive and entertaining options, this psychological tendency toward penny stocks also exists. The following guide will assist you in smoothly completing the Dogecoin buying procedure on eToro.
Step By Step Procedure: How to Buy Dogecoin on Etoro
Get to know the right procedure to avoid mishaps while purchasing Dogecoin from Etoro.
On eToro, purchasing Dogecoin is a really simple procedure. For your advantage, we've listed them below. You have to, of course, have an eToro account to be able to do this. The procedures for creating an account, checking out, and depositing are identical on the application for mobile devices as well as the browser.
Perhaps if you already have a registered and funded account, or if you have already completed the following steps and have an account, continue the step-by-step guide. By continuing it, you can learn how to buy Dogecoin on a mobile application or the web browser version. We head to start the guide assuming you don’t have an account, so the steps are as follows:
Create an EToro Account
Before getting your hands on Dogecoin through eToro, you must have to create an account first. The user-friendly abilities of eToro make it possible and very easy for you to register and create an account. All you need to do is visit eToro’s official website and click the “Join Now” button. You have to enter your information, including your name and email address. Furthermore, you will have to come up with a strong password for your account that is not easily guessable. Click "Create account" after completing the form, then as said, verify your email address.
Verify Your Identity
The very next step for you is to verify your identity and your account. And for that, you’ll need to upload a copy of your identity card and proof of address. You can also use a bank statement or utility bill to verify your address. It would considerably take a few days for the platform to put an end to the verification process and activate your account. It's necessary to confirm your identification on eToro in order to follow the KYC and AML regulations. You should know that, without following this procedure, you may not be able to buy Dogecoin on eToro nor can use all of the platform's services.
EToro ensures the security of your money as well as your data. To add another layer of security and ensure your account’s safety, you have the choice to use security measures including 2-factor authentication (2FA). You can proceed to buy Dogecoin securely by turning on the 2FA option in the "Settings" section.
Deposit Funds on Your EToro Account
Create an account, confirm your identity, and select your selected payment method to deposit money into your eToro account. The fact that this site accepts payments using various methods, including bank transfers, PayPal, credit cards, and debit cards is very helpful. Pick your favorite approach, then stick to the guidelines. Enter your payment information and verify your deposit amount. Processing time and cost vary depending on the approach. Visit the "Fees" section for further details on the platform's fee structure.
Search on the Watchlist
Next step! The right next thing to do is navigate to the dashboard's "Watchlist" section. You may locate your favorite cryptocurrency on eToro via the "Search" and "Filter" sections. Dogecoin is found on the watchlist by typing its name into the search bar. The screen that appears after you click "Dogecoin" includes information about DOGE's pricing as well as a "Buy" button.
The platform asks you to enter the "Amount" or "Units" as soon as you choose the "Buy" option. You can choose the amount option to enter a specific amount of DOGE. Similarly, you may choose the units option to specify the quantity of DOGE. For the "Open trade" option to purchase Dogecoin, enter the required details.
The platform, in the very next step, will ask you to verify your email address and identity, in case you did not do that The next step is to check and confirm all the information to make sure it is accurate. Then click "Confirm Trade" to finish the Dogecoin purchase. Congratulations! Dogocoin has now been added to your account. In the "Portfolio" area, you can view the DOGE that you purchased.
Investing in Dogecoin and other cryptocurrencies could be a lot of fun, to sum up. Fortunately, keep in mind that they are very speculative and dangerous. Do your research and never take a risk that you cannot afford to lose. Just stay cautious! And know about this guide, to ensure a smooth purchase.
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