If you are thinking about starting your cryptocurrency journey or adding to your portfolio by buying dogecoin, eToro is one of the brokers where you can access this instrument. This article provides a detailed walkthrough on how to buy Dogecoin (DOGE) on eToro using a wide range of payment options.
eToro is one of the most popular platforms to buy DOGE. This Israeli-based company is one of the few brokers who offer clients the opportunity to engage in real and CFD Dogecoin trading. For CFD assets, customers will have access to margin trading, with a leverage of 1:2. Furthermore, they list several deposit options, including Debit Cards, Credit Cards, Bank Transfers, PayPal, Skrill, and Neteller.
This article covers all you need to know about how to buy Dogecoin (DOGE) on the eToro social trading platform. We discuss the available payment methods, minimum deposit amounts, and platforms offered. Finally, we provide you with a step-by-step guide for purchasing this cryptocurrency on this exchange.
There are many things you should look out for before choosing any exchange to trade Dogecoin. We list some of the most important criteria below.
The location of a Dogecoin exchange must be considered before you buy DOGE on the platform. Buying cryptocurrency in some regions may attract legal implications that are unfavorable. So, always investigate the policies and guidelines surrounding cryptocurrencies in the region where your proposed exchange is domiciled.
Having a variety of payment methods available gives you flexibility. Also, because certain countries do not permit some funding methods, having many other options guarantees that you can always buy Dogecoin, regardless of your location.
Another essential factor to consider in choosing where to buy DOGE is the exchange’s trading and non-trading costs, including deposit and withdrawal fees. You should opt for a company that provides top-notch service at a rate that is affordable.
It is advisable to use an exchange that provides you with insights into their volume listing. A high volume listing indicates that the company has many clients and frequently processes trades. A low or undisplayed volume listing can count as a red flag and raise concerns about an exchange’s reliability and transparency.
eToro is regulated by CySEC (Cyprus), ASIC (Australia), the FCA (UK), and FSC (Seychelles). Their headquarters is located in Israel. However, they have offices in Cyprus, the UK, the US, and Australia. Their UK office is located on the 24th floor, One Canada Square, Canada Square, London E14 5AB, UK, and their Australia office is at Level 3/60 Castlereagh St, Sydney NSW 2000, Australia.
This exchange has a minimum deposit of $50 in most countries, including Australia. US and UK clients, however, can deposit a minimum of $10. For bank transfers, eToro has a $500 minimum deposit. There are many ways to fund your account and start buying Dogecoin on eToro, which include Debit cards, PayPal, Skrill, Neteller, and Bank Wire. The broker also features a crypto wallet – the eToro digital wallet – should you need one.
The broker does not charge any commission to individuals who wish to buy cryptocurrencies on their platform. However, they add a 1% fee to the regular bid-ask spread. They also charge overnight fees which change depending on the prevailing market conditions.
Furthermore, users can have access to margin trading when buying Dogecoin as this exchange provides a 1:2 leverage for cryptocurrencies. Finally, they offer both real coins and CFDs. We will discuss the pros and cons of both instruments in subsequent segments of this article.
eToro does not support MetaTrader 4 and 5 or cTrader. However, it has a proprietary trading platform that is available to desktop and mobile device users. Below, we discuss each of these applications in more detail.
For individuals who want to buy Dogecoin on eToro with a desktop, the broker offers a proprietary web application that runs on most native internet browsers. You can create a live account, log in to this exchange’s web trading platform and start trading this cryptocurrency.
The exchange also provides a proprietary mobile application that is available on iOS and Android devices. This mobile app enables anyone to buy DOGE conveniently. It offers similar functionality to the web application and a seamless user interface.
Below, we list a detailed guide on how to create a trading account and buy DOGE.
eToro allows you to buy Dogecoin or trade DOGE CFDs on its platforms. Both assets have their individual pros and cons, depending on your preference. For CFDs, eToro allows leverage trading of up to 1:2 and the ability to engage in short trading.
This means that you can take advantage of the downward price movements and also hold higher positions than your available account balance. However, this comes with higher risks of losses. CFDs also come with added costs such as swap rates for positions held overnight. Not all countries allow residents to trade CFD crypto on eToro. While clients in Germany, Australia, Spain, and several other regions can invest in this asset, users in the US, UK and Brazil are not permitted to do so.
On the other hand, real crypto does not offer margin trading, the ability to use the take profits feature, or set a stop loss. The fees for trading CFD and real Dogecoin on eToro are the same. This exchange charges an additional 1% spread on the regular bid-ask spread on this asset.
Here, we have provided a detailed summary of how to buy Dogecoin (DOGE) on eToro. The broker allows users to purchase this cryptocurrency and trade the CFD equivalent on its web or mobile platforms. Also, they do not charge a commission for this asset but rather earn from spreads. The process of opening an account for new users is relatively straightforward as outlined in the earlier sections of this article.
Users who wish to buy DOGE on eToro will have access to a wide range of payment options, including credit cards, debit cards, PayPal, Neteller, Skrill, and Bank Transfers. However, the specific funding method available depends on your country of residence.
Yes, you can. Dogecoin is one of the numerous crypto assets listed on this exchange.
eToro does not charge a commission for buying Dogecoin (DOGE). However, they add 1% to the base spread on their cryptocurrencies.
Yes, you can. Debit cards are one of the listed payment options for purchasing Dogecoin (DOGE) on this exchange.
To buy DOGE with PayPal, select the company from the listed payment methods, log into your account, and confirm your deposit.
Yes, you can buy DOGE on eToro mobile app.
Yes, eToro also offers Dogecoin CFDs.
Yes, they do. The eToro Money crypto wallet allows you to hold many crypto instruments, including Dogecoin.
Yes. This exchange’s e-wallet allows transfers to other crypto wallets.
Yes, they are. eToro is regulated in several countries, including the UK and Australia.
Beginners can buy Dogecoin (DOGE) on eToro as their platforms are intuitive and easy to use.
You can use Dogecoin to pay for products and services at physical stores or online marketplaces that accept cryptocurrencies as a payment method.
