How to Buy Dogecoin (DOGE) on Binance: Fees, Features & Step-by-Step Guide

Dogecoin (DOGE) is a popular altcoin with a very large user base and one of the highest-selling digital assets on Binance. This brief but comprehensive guide will show you how to buy Dogecoin (DOGE) on Binance, as well as every other thing you need to know about buying the crypto asset.

Author: Eric Gift   -   Last updated: 25/03/2024

Summary

Dogecoin is an altcoin invented by two software engineers, Billy Markus and Jackson Palmer. The idea of the coin was to satirize high-speculation cryptocurrencies of the time and also create a project that was more accessible than Bitcoin. The coin was launched on December 6th, 2013, and by the 19th, its value had jumped by up to 300% – that was within the previous 72 hours. Currently, the DOGE Market cap stands at a whopping $8.91 billion, and its 24-hour trading volume is $138,656,015.  

In this guide, we will cover all important aspects of trading this coin on Binance. First, we will discuss what you need to consider when choosing an exchange to buy from, what to know about the platform, and how to buy Dogecoin (DOGE) on Binance. We’ll also compare buying real DOGE and buying its CFD on the exchange.

Things to Consider when Choosing a Dogecoin (DOGE) Exchange

When choosing a crypto exchange on which to buy DOGE, you need to consider these relevant factors. 

Location of Dogecoin Exchange

When considering an exchange to buy DOGE from, you want to make sure you know where it operates and what legal facts must be taken into account for that place. You also want to know what regions it is available in as well as the regulatory factors at play.

List of Available Payment Methods

Given how many different payment methods exist and the preferences of customers with regard to these, it is important for exchanges to have as many of them as possible. The best crypto exchanges you can go for will usually have several of these payment methods so that you can almost certainly find the one you wish to use. 

How to Check the Cost and Fee

All trading exchanges charge at least one type of fee, and in the spirit of transparency, it is crucial that they make these fees clear to you before you make your purchases. When assessing a platform for buying Dogecoin, you should check to see if they do this; otherwise, you must find a different exchange. You also want to check their history regarding fees to make sure they are not in the habit of arbitrarily manipulating charges. 

Volume Listing

Trading volumes are one way to gauge how legit a trading platform is, and to gain insight into how a coin performs. When considering a crypto exchange, you have to check to see that their volume listings are not just available on the platform but also independently attested by reputable and reliable crypto-watch platforms. 

What you need to know before Buying Dogecoin (DOGE) on Binance

Binance is one of the major crypto exchanges in the market, and it has its headquarters in the Cayman Islands. In addition, it has up to 53 other office locations around the globe, including Australia, Armenia, Bahrain, Brazil, and Germany. 

Binance exchange is also one of the most extensively regulated crypto platforms in the market, as it enjoys regulation from over 18 different agencies. These include the Bank of Spain, French AMF, Italian OAM, Lithuanian FIU, Swedish FSA, ASIC, and Japanese FSA. With such a veritable army of regulators behind it, you can be assured of the highest standards of safety on Binance.

Binance is one of the most cost-effective exchanges around, as it offers very competitive pricing and a favorable fee structure. Regular users, for instance, get charged a 0.1% trading fee per transaction, although VIP clients can enjoy lower fees, and you can get as much as 25% off when you pay your charges with BNB. The exchange also has some of the lowest average spreads in the market, with as low as 0.3% for crypto futures trading. Furthermore, there are no deposit fees for any of the crypto payment channels, although some of the fiat currency payments carry charges. For instance, online banking transfers are charged 0.65%. There are withdrawal charges for all payment channels and currencies, whether fiat or crypto. As far as deposit and withdrawal limits go, the minimum deposits are so low as to be negligible, but the minimum withdrawal depends on the method you are using. 

The platform offers both real crypto and crypto CFDs, and its CFD leverages are great, but these are not available for EU traders. The exchange has banned crypto CFD trading for EU clients. However, leverages of up to 1:125 are available for non-EU traders. Moreover, it allows payment through a host of channels, including credit cards, debit cards, electronic wallets like Advash, Bank transfers, P2P Payments, ATMs, and the newly launched Convert and OTC Portal.

Types of Platforms Offered on Binance to Buy Dogecoin (DOGE)

Coin Exchanges usually operate their own proprietary software platforms for mobile and desktop users. This cross-platform availability allows users to trade crypto on any platform they feel convenient using at any moment. Before we go on to discuss how to buy Dogecoin (DOGE) on Binance, we will talk about the Exchange’s platforms for both Desktop and Mobile.

Desktop Platform

Binance has a desktop application that is easily downloadable and is available for Linux, Windows and Mac OS users. The application is designed to be very user-friendly and aesthetically balanced, and it offers an excellent crypto trading experience with refined performance and high-speed execution. It’s also easy to connect to the Binance platform, requiring only one click. The platform offers seamless multi-account access for both institutional and individual clients. Moreover, the app security is very high, especially with its incorporation of multi-factor logins to reduce unauthorized access.

Mobile App

The Binance mobile app offers you a more compact and easy-to-use platform to enable you to trade on the go. The app is very user-friendly and compatible with all versions of Android and iOS, although it does not have a version for Windows smartphones. Its security is cutting-edge, especially with the two-step authentication, which requires you to download and install the Binance Authenticator app. Moreover, the app also enjoys access to the platform’s APIs, in addition to its fast trade execution and lower trading fees. The app also allows you to switch from the normal to the Pro mode, which offers you even more diverse trading functionalities, including futures and options trading. 

How to Buy Dogecoin (DOGE) on Binance

Having looked at all these relevant metrics for determining how much credibility the Binance exchange has, we can safely say that buying DOGE on the exchange is safe to do. We will now go through the steps to buy Dogecoin on Binance.

A Step by Step on How to Buy Dogecoin on Binance

  1. Open the Binance app and tap on ‘Buy Crypto’ near the top of the home screen.
  2. A  search screen with a quick list of some top traded coins will appear; scroll down a bit to find Dogecoin and click on it.
  3. On the purchase page that shows next, type the amount worth of Dogecoin that you would like to buy. There is a toggle that allows you to switch to typing the number of Doge coins you want to buy instead. Once done, click on ‘Buy’ to proceed along.
  4. On the next page, overview the price of the Dogecoin you will be buying. The price displayed will only be valid for 45 seconds, so you must be done with your overview and last-minute modifications in that time.
  5. The next screen will contain fields for you to input some relevant information like your Card number and CVV, as well as your billing address. Once you have input the right information, tap on ‘Confirm’ to authorize the transaction. 

How to Open a Dogecoin Trading Account on Binance

  1. Open the platform page and click ‘Register’ on the top right corner of the page.
  2. On the next page, choose between signing up with Google or using your email or phone number instead. The latter options are generally preferable.
  3. Input your email address and tick the box to indicate agreement with the terms and conditions after reading them.
  4. Input the verification code that will be sent to your email on the next screen that appears.
  5. Set a strong alphanumeric password to secure your Binance account, preferably one with a symbol or two.
  6. Your account has been successfully created, and you can conclude the process by toggling on or off for marketing updates and clicking ‘Done.’
  7. Next, you have to undergo KYC verification, and it begins with stating your nation of residency.
  8. Provide your name and your date of birth in the fields provided and click on ‘Continue’ to proceed.
  9. Provide your current residential address in the field provided and click ‘Continue’ to proceed.
  10. Choose the document you would like to use for verification from the options provided. You can use your driver’s license, National ID, passport, or any relevant document that applies to your region. Supply the relevant documents or number, and the verification process is complete.

How to Buy Dogecoin (DOGE) Using Visa or Mastercard Credit Cards on Binance

  1. Click on the ‘Buy Crypto’ dropdown bar at the top left corner of the website and select the ‘Bank card’ option.
  2. On the next page, there will be fields for amounts that you must fill in, and the one with the deposit currency will have a default currency set.
  3. If the currency displayed is not the one you wish to pay in, you can click on it to bring up the list of currencies and change it.
  4. Click on the crypto tab at the right side of the lower field to bring up the list of coins and select Dogecoin.
  5. Input the amount of fiat currency worth of Dogecoin you want to buy, and the equivalent in number of Dogecoins will be displayed.
  6. Select the Card payment option and click ‘Confirm’ to bring up the page for adding card details.
  7. Click on ‘Add new card’ if you haven’t already added one, then input your Mastercard or Visa Credit card details in the fields provided and click ‘Confirm’ to authorize the transaction.

How to Buy Dogecoin (DOGE) Using Visa or Mastercard Debit Cards on Binance

  1. Click on the ‘Buy Crypto’ dropdown, which you will find on the top left side of the dashboard.
  2. Select the currency you would like to pay in from the list of options available on the page or search it out.
  3. Select Dogecoin from the list of coins available on the platform; alternatively, use the search option to find it.
  4. Input the amount (in fiat currency) that you intend to spend and the equivalent in Dogecoins will be displayed beneath it.
  5. Select the Card payment option and click on ‘Add new card’ to add your relevant Mastercard or Visa debit card details, then click ‘Confirm’ to finalize the transaction and buy Dogecoin with a debit card.

How to Buy Dogecoin (DOGE) Using Paypal on Binance

You can use crypto from PayPal to pay for Dogecoin on Binance by following these steps.

  1. Open the crypto section of your PayPal and select  USDT for the transfer. 
  2. Click on the transfer button, and you will be shown a page to select the destination wallet. 
  3. Access your Binance wallet interface and select the option to receive crypto. 
  4. Copy your Binance wallet address and paste it into the relevant field on PayPal.
  5. Specify the amount of USDT you want to send and authorize the transfer.  
  6. Once the coins have been received into your Binance wallet, you can now access the ‘Buy Crypto’ interface, select the option to pay for Dogecoin with crypto, set your payment amount in crypto, and authorize the transaction. 

How to Buy Dogecoin (DOGE) Using Skrill on Binance

  1. Access the buying options by clicking on the ‘Buy Crypto’ drawdown on your Binance dashboard and then select Dogecoin for purchase.
  2. From the available options, choose Skrill as your preferred method. 
  3. Specify the amount in fiat currency that you want to pay, and its equivalent in Dogecoin will be displayed. You can now enter your Skrill email and authorize the transaction.

How to Buy Dogecoin (DOGE) Using Neteller on Binance

  1. Open the crypto purchase menu on Binance and select Dogecoin.
  2. Select Neteller as your payment option from among the available e-wallets. 
  3. Set the amount of fiat currency to pay and check that its worth in Dogecoin is displayed; then, enter your Neteller email address to proceed with the transaction and wait for your Dogecoin to reflect in your wallet.

How to Buy Dogecoin (DOGE) Using Bank Wire on Binance

  1. Login to your Binance account and access your wallet; select ‘Fiat and Spot.’
  2. Select ‘Deposit’ on the dashboard and choose the bank transfer option on the page that follows.
  3. Specify the fiat currency you want to deposit and its amount, and then click ‘continue’ to proceed.
  4. You will be shown the payment details of your wallet; make the bank transfer and wait for the money to reflect in your wallet.
  5. Once the money has reflected in your Binance wallet, go to ‘Buy Crypto,’ find Dogecoin, and select your wallet as the payment means. 
  6. Enter the amount of Dogecoin you want to buy, check that the equivalent in fiat currency is shown, and then authorize the purchase. 

How to Buy Dogecoin (DOGE) Using P2P Payment

  1. Click on ‘Trade’ on the dashboard and select P2P from the options in the dropdown menu.
  2. Select your preferred fiat currency for payment as well as the payment channel, and then go through the list of available merchants and select one of them from whom to purchase USDT.
  3. Enter the amount of fiat currency you would like to spend and confirm that its equivalent in USDT is correctly displayed.
  4. Click on ‘Buy USDT’ to make the purchase.

Buying Dogecoin (DOGE) Vs Trading Dogecoin (DOGE) CFD at Binance

You can trade both CFDs and real crypto on Binance – except if you operate in the EU, in which case, you won’t be able to trade CFDs. The exception is due to a relatively recent policy change by the exchange in response to regulatory issues. However, for non-EU clients, there is robust CFD trading with neat leverages of up to 1:125. The real crypto assets are unleveraged, so you have to pay full price if you trade those. On the pro side, this means less risk of escalating losses, a risk that is higher for leveraged products. On the con side, you need more cash to buy any asset.

Trading CFDs on Binance does have another advantage in the fact that it means you can trade in both directions. Furthermore, while the leverage introduces a higher measure of risk, that risk is mitigated by limitations from licensing bodies. For instance, if you are trading from Australia, you can only trade crypto at a leverage of up to 1:2.

Bottom Line

So far, we have discussed not only how to buy Dogecoin (DOGE) on Binance but also other relevant things to know about the platform. We have also talked about the relevant things to consider when choosing a platform. 

To recap the main things about buying DOGE on Binance, it’s a seamless affair due to the platform’s user-friendliness and intuitive interface. There are proprietary Binance platforms on both mobile and desktop devices, in addition to a web platform that you can use on your PC. 

Where costs are concerned, Binance does very well with its competitive pricing and low fees. It also offers great spreads and leverages, the latter being capped by different jurisdictions to protect its customers. And speaking of jurisdictions, the exchanges’ extensive regulatory oversight makes it reliable and credible. Top that with the security features, and we can say Binance is a safe, reliable, and trustworthy crypto exchange. 

Frequently Asked Questions (FAQs)

You can buy Dogecoin by selecting it from the list of coins and following the easy process, from specifying the amount to authorizing the transaction. 

Dogecoin was invented in 2013, on December 6. 

The coin was created as an alternative to other bigger projects that could not reach a broad enough demographic.

Binance is regulated by more than 18 different regulatory agencies.

Binance no longer accepts PayPal payments on its platform. 

Debit cards are an available method on Binance, so you can use a debit card to buy Doge on the exchange. 

Depending on where you make the purchase, you can use Dogecoin to buy anything from cars and real estate to consumer items like watches and gaming equipment. 

Binance charges crypto fees for buying Dogecoin on its platforms, and those fees set the minimum you can buy. 

As one of the top-performing cryptocurrencies with favorable future projections, Dogecoin is a good coin to buy. 

Your Binance wallet can store all your crypto, including your Dogecoin.

Binance has features that allow you to transfer Dogecoin from other exchanges to the platform.

You can trade Dogecoin futures with leverage on Binance. 

The minimum Dogecoin amount you can buy on Binance is $15.

You can buy a maximum of $20,000 worth of Dogecoin per transaction on Binance. 

If you have not verified your Binance account, you will not be able to buy or sell Dogecoin.

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