How to Buy Dogecoin in Australia? – Beginner’s Guide

Considered to be the very first meme coin, Dogecoin gained immense popularity in recent times following a colossal increase in price back in May of 2021. Despite its satirical intentions and beginnings, some investors still consider Dogecoin to be a legitimate prospect for investment.

If you want to learn how to buy Dogecoin in Australia, this guide will show you the steps to invest in the popular altcoin. Here, we’ll discuss how to buy Dogecoin Australia, how to buy and sell dogecoin, and more.

Where to Buy Dogecoin Australia – Step by Step Guide 2023

Before you can start learning how to buy Dogecoin in Australia, you’ll need to choose the right crypto exchange or trading platform to use. Depending on your experience, strategy, and investing plans, your choice of what platform to trade Dogecoin in will differ.

1. eToro – Overall Best Crypto Trading Platform Australia

With almost 50 tradable cryptocurrencies on the platform, eToro is our highly recommended trading platform if you want to know how to buy Dogecoin Australia and trade the altcoin. Even for other instruments like stocks, commodities, and indices which are all available on eToro, the platform provides great value for most investors.

There are a few things to note in terms of how to buy Dogecoin on eToro. For one, the minimum amount to buy the altcoin is US$10. Another thing to take note of when using the eToro platform to buy Dogecoin is that the interface offers useful coin statistics, charts, and research.

eToro offers data on technical analysis, technical indicators, fundamentals, and other statistics to help you better understand how to buy Dogecoin on eToro. Key information such as Dogecoin contributors, watchers, forks, and stars are available to view on eToro. 

One benefit for using eToro to buy Dogecoin is that the platform actually lets you own the underlying crypto asset once you purchase it. For this reason, there is no shorting of Dogecoin on eToro – so the platform does encourage investors to hold long-term and look for key prices to get into.

eToro fees

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. Binance - Best Crypto Exchange for New Coins

The next platform to look out for is Binance, the largest crypto exchange and the best platform for trading new coins. With hundreds of coins available to trade, Binance is a great platform for those with many different strategies and niche investing plans for cryptocurrencies. Also, if you want to know how to buy Dogecoin on Binance, continue reading this portion to learn more.

The first step to learning how to buy Dogecoin Binance is to be able to navigate and use Binance’s key features properly. The platform’s dashboard is littered with different markets, features, and information that can be intimidating especially for new traders. 

However, after a while of browsing through the platform and using some of its features, it will be much easier to learn how to buy dogecoin on Binance after some time. Fund your account by purchasing crypto in the P2P market or by connecting your bank account to Binance and from there you can buy Dogecoin on the exchange.

Binance fees

Your capital is at risk.

3. Coinbase - Best Beginner Crypto Trading Platform 

 If you’re looking for an easy but secure start to investing in Dogecoin and other cryptocurrencies, then the Coinbase platform is something you should consider. Widely considered to be the best beginner crypto exchange, Coinbase will not just help you better learn how to buy dogecoin in Australia, but also will better facilitate your crypto trading journey in general.

So if you’re wondering how to buy Dogecoin on Coinbase, it’s fairly simple. After creating an account that is quick and easy, you can link your bank card and proceed to buy Dogecoin after inputting the quantity.

Something that will greatly improve your knowledge on how to buy Dogecoin in Australia is the crypto-basic article of Coinbase on the popular meme coin. Because Coinbase is committed to educating and providing everyone the chance to invest in crypto, they’ve created educational articles explaining different cryptocurrencies. 

Your money is at risk.

4. Kraken - One of the Most Established Cryptocurrency Exchanges Australia

Kraken is one of the oldest and most established crypto exchanges in the world. Having just been launched two years after Bitcoin’s release, the platform has years of experience in making sure that its clients have a great and secure crypto investing experience.

With over 50 cryptocurrencies including Dogecoin itself, you’ll be able to see if you really know how to buy Dogecoin in Australia on Kraken. With both basic and advanced trading interfaces with Kraken and Kraken Pro, you can essentially buy Dogecoin with your trading view of preference. Kraken even has integrations with iOS and Android for its mobile platforms which also has separate classic and pro versions.

Kraken fees

Your money is at risk.

5. Crypto.com - Fast and Secure Cryptocurrency Exchange

Our last crypto exchange platform on the list is Crypto.com, one of the fastest and most secure exchanges out there. If you want to learn how to buy and sell Dogecoin, Crypto.com is a great place to start since they offer crypto derivatives trading for leveraged and short positions.

For Dogecoin, a margin of 10:1 is the maximum for those keen on testing their strategies for how to buy Dogecoin in AUS. 

Your money is at risk.

What is Dogecoin?

Perhaps one of the most important things to understand before figuring out how to buy Dogecoin Australia is to know the origins, uses, and history of the popular altcoin. Created in late-2013 by software engineers Billy Markus and Jackson Palmer, Dogecoin was launched initially as a joke to prove how easy it was to create cryptocurrencies.

According to the Dogecoin website, the altcoin is ‘an open source peer-to-peer digital currency, favoured by Shiba Inus worldwide.’ Despite its satirical nature, Dogecoin has captured the hearts and investments of millions - quickly gaining a large following especially in its 2021 rise.

Those looking to store Dogecoin in a crypto wallet can use the official Dogecoin crypto wallet called MultiDoge which is a light wallet that operates by syncing with the Dogecoin blockchain and skimming through the network. However, those looking to use the full wallet for Dogecoin should use Dogecoin Core, a solid-working Dogecoin wallet that downloads the software from the network.

One of the platforms where the Dogecoin community grew was in Reddit where users would flock to potentially to understand how to buy Dogecoin in Australia Reddit. Even as a light-hearted and low-stakes alternative to the popular Bitcoin, Dogecoin is supported by this community and team which has put the success of the coin to good-willed advocacies. For example, Dogecoin launched a community fundraiser that collected US$50,000 for the Jamaican Bobsled team to compete in the Sochi Winter Olympics.

Following this, the community also began collecting donations to build a well in the Tana river basin in Kenya. Aside from just raising awareness for the water crisis in Kenya, they were also able to raise US$11,000 for the cause. The cryptocurrency used as a store of value in the Dogecoin network is known as DOGE.

67% of retail investor accounts lose money when trading crypto derivatives with this provider. You should consider whether you can afford to take the high risk of losing your money.

Why Buy Dogecoin?

The next step on your way to mastering how to buy a Dogecoin is understanding the reasons why investors buy the altcoin in the first place. When looking into cryptocurrencies, investors normally try to identify the coin's utility, future prospects, and tokenomics. Many also consider the technical analysis and historical price movements of the coin.

Dogecoin is based on the Scrypt algorithm which is the same protocol used for Litecoin (LTC). Compared to Bitcoin, Dogecoin is actually more efficient as it only takes 1 minute to complete a block as opposed to Bitcoin which takes 10 minutes.

In terms of utility, one major commercial use of Dogecoin is through internet-based tipping systems. Instead of leaving likes or comments which usually don’t have any monetary value, this system allows social media users to tip other users for providing interesting or noteworthy content. Because of the ability to be anonymous in terms of transactions, Dogecoin offers a unique way to discreetly tip your favourite internet content creators.

There are about 132 billion DOGE coins in circulation with miners being able to produce 10,000 every minute. Unlike Bitcoin which was designed to only have a limited number of minable coins at 21 million, Dogecoin was built to be abundant with no hard cap on supply. Those looking to buy Bitcoin might prefer the deflationary nature of the frontrunner currency and in contrast to Dogecoin, Bitcoin has almost 19 million in supply.

Overall, those willing to learn how to buy Dogecoin in Australia and how to buy and sell Dogecoin might value one of our deepest insights on the altcoin. Perhaps the reason for Dogecoin’s popularity and place as one of the largest cryptocurrencies is because of its light-hearted spirit. 

Many cryptocurrencies market themselves as the next big advancement in the industry or the next Bitcoin or Ethereum killer. Dogecoin, on the other hand, markets itself in a fun and playful manner that does not intimidate anyone - especially not beginner traders or newbies in the crypto scene. For this reason, it might be the case that thousands to millions have flocked to Dogecoin seeing as it had a very simplistic and easy to follow worldview.

How Much Does It Cost to Buy Dogecoin?

If you’re wondering the cost of how much to buy Dogecoin, the answer will ultimately depend on what platform you are using to purchase the cryptocurrency. As we mentioned earlier in this How to buy Dogecoin Australia guide, platforms like eToro require a minimum of US$10 to buy cryptocurrencies. With this amount, you can expect to own around 14 DOGE.

How to Buy Dogecoin with PayPal

Those with PayPal accounts might know that U.S. users can actually buy, sell, and pay using four different cryptocurrencies on the platform. Bitcoin, Ethereum, Litecoin, and Bitcoin Cash can be stored and used in the PayPal platform but only for select areas. 

However, PayPal does mention that it is working to extend this feature of being able to buy cryptos globally. This means that if you hold a non-U.S. PayPal account, you might be able to purchase cryptos in the future.

For now, if you want to know how to buy Dogecoin with PayPal, the key is to look for a trading platform that accepts PayPal as its payment method. For example, you can use eToro which has PayPal as a payment option. Once your etoro account is funded via PayPal, you can proceed to buying Dogecoin on the web or mobile app.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

How to Buy Dogecoin with Bitcoin

One of the ways to buy Dogecoin with your Bitcoin if you own any is looking for a crypto exchange where you can swap crypto. The crypto pair DOGE/BTC, for example, is the perfect pair to use if you want to buy Dogecoin with Bitcoin. Certain platforms like Binance have this pair available on Spot Trading.

Additionally, if you want to exchange your Bitcoin for Dogecoin, you might find a decentralised exchange (DEX) that offers the swap. Alternatively as well, you might also find other people who are willing to sell their Bitcoin for Dogecoin and do that transaction yourself. However, it’s better to rely on verified and established systems for trading your Bitcoin in for Dogecoin.

Buying Dogecoin Safely

It’s not unusual to hear about a crypto scam every so often. Be it a rug-pull, free-crypto scheme, or just malicious accounts in general, you could say that cryptocurrencies have this notorious aspect to it. However, cryptocurrencies were built to be extremely secure and to have the opposite effect - safe and secure transactions for all.

Dogecoin has had its runs of theft and schemes, and it’s important to know how to buy Dogecoin in Australia safely. As a rule of thumb, it might be good practice having the mindset of ‘if it’s too good to be true, it probably isn’t’. A common way of getting scammed with Dogecoin and other crypto is if they offer free crypto or doubling/tripling your current crypto if you send them the crypto you own.

If you’re looking to have complete control over your Dogecoin, then getting a crypto wallet will suit you best. Avoid suspicious URLS, emails, and direct messages that look sketchy and could potentially be scams. Understand the reliable and established  platforms for buying Dogecoin in your journey of learning how to buy Dogecoin Australia.

67% of retail investor accounts lose money when trading crypto derivatives with this provider. You should consider whether you can afford to take the high risk of losing your money.

Risks of Buying Dogecoin

When creating your How to buy Dogecoin Australia plan, it’s also important to practice the proper risk management. Some of the risks involved with buying Dogecoin and cryptocurrencies in general are:

• Cryptocurrencies are speculative assets that are also considered to be highly volatile (prone to sudden and intense price fluctuations)
• Platforms that offer Dogecoin derivatives offer leveraged trading. This can cause your account to get margin called when the price suddenly spikes
• Buying Dogecoin from unsecured platforms can cause your private information to be shared. Be wary of transfer fees in different exchanges - these may also be quite costly

Selling Dogecoin

Whether you’re looking to cash in your Dogecoin earnings or looking to get into another cryptocurrency, you can easily sell your Dogecoin on most cryptocurrency exchanges or trading platforms. Simply close your long positions on DOGE to sell the cryptocurrency. If your Dogecoin is in your crypto wallet, then you can swap the coin for another cryptocurrency or fiat if your platform allows.

Dogecoin Price Prediction

67% of retail investor accounts lose money when trading crypto derivatives with this provider. You should consider whether you can afford to take the high risk of losing your money.

In the past year, Dogecoin’s price peaked at around US$0.70 in May. Currently, Dogecoin is trading within the US$0.20 to $0.12 range and has been on a long-term down trend that could be attributed to many factors with the current crypto bear market being one of them.

If Solana breaks below the $0.12 level then it’ll try to hold support at %0.10. As for if the crypto makes an amazing run and breaks the US$0.20 resistance, it might look to test the $0.22 level which has been another resistance from the past few months.

Where to Buy Dogecoin

Here is a list of the crypto platforms that we’ve mentioned and reviewed earlier in this How to buy Dogecoin guide:

1. eToro – Overall Best Cryptocurrency Trading Platform Australia
2. Binance – Best Crypto Exchange for New Coins
3. Coinbase - Best Beginner Crypto Trading Platform 
4. Kraken- One of the Most Established Cryptocurrency Exchanges Australia
5. Crypto.com - Fast and Secure Crypto Cryptocurrency Exchange

Best Way to Buy Dogecoin - eToro Tutorial

Now that you know what Dogecoin is and why investors have backed the coin, it’s time to use the best way to buy Dogecoin - eToro. Below is a step-by-step tutorial on how to buy Australia on the eToro platform.

Step 1: Open an Account

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Here is how to buy Dogecoin in australia. First, head to the eToro website and click on the Join Now button at the top right. You'll then be redirected to the sign-up sheet. Simply fill in your desired username and password or use an existing Facebook or Google account to open an account.

Step 2: Upload ID

Next, you won’t be able to buy Solana without verification. For this, eToro will ask you to verify your account by uploading a valid ID and proof of address. For a valid ID, you may opt for something like a passport or driver's licence. For the proof of address, you may use a utility bill or a bank statement.

Step 3: Deposit Funds

Now that your account has been verified, you can proceed to depositing funds. Choose among different payment methods such as Visa, MasterCard, PayPal, POLi, online banking, and more. The minimum deposit to start investing is US$50.

Step 4: Buy Dogecoin 

With your account now funded, you can now buy Dogecoin on eToro! On the dashboard, search for DOGE and press trade. Once the trade modal shows up, you may put in your desired amount to invest in (minimum at US$10) and click on Open Trade.

Tamadoge- The Best Alternative To Dogecoin

While Dogecoin may be a popular meme coin to invest in, the token has experienced major volatility over the past year. As a result, it may be a good idea to diversify your meme coin investments by adding  a second token to your portfolio.

Tamadoge (TAMA) is an upcoming meme coin with excellent potential in 2022. The token is currently still in the presale stage of its development which makes now the perfect time to invest before prices rise.

TAMA is the native token of Tamadoge- a P2E gaming universe in which players can care for and battle with virtual dogepets. The game is the first of its kind and is set to make waves amongst both the NFT and Metaverse enthusiasts. TAMA can be used within the game to purchase new pets and accessories. The tokens can also be exchanged for other currencies.

The reason that TAMA is a good token to invest in is that the coin is deflationary. This means that the supply will gradually decrease over time. As a result, upwards pressure with be placed on the price of TAMA which means that initial investments are likely to go up.

You can buy TAMA before prices rise by visiting the Tamadoge website and swapping ETH for the TAMA token. Once listed on exchanges, the price is set to increase 25x.

Your money is at risk.

Conclusion

All throughout this How to buy Dogecoin in Australia guide, we’ve discussed the grassroots of Dogecoin and its current market viability. For most use cases and investors, eToro is the best Australian trading platform to buy Dogecoin because of its zero commission, ease of use, and excellent interface.

Start investing in crypto with eToro and experience fast trades, zero commissions, and more! Simply follow the link below and open a crypto exchange count with eToro today!

eToro – Best Australian Crypto Platform to Buy Dogecoin 

75.26% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

What is Dogecoin?

Dogecoin is a cryptocurrency very similar to Bitcoin and was created to show that anyone can copy the code for creating cryptocurrencies. According to the Dogecoin official site, the cryptocurrency is an open source peer-to-peer digital currency, favoured by Shiba Inus worldwide.

Who created Dogecoin?

Dogecoin was created by software engineers Billy Markus and Jackson Palmer and was initially released in December of 2013.

What is the market cap of Dogecoin?

At the time of writing, Dogecoin’s market cap is at US$19.6 billion - the 11th largest cryptocurrency in this regard.

Do I need a crypto wallet to buy Dogecoin?

If you want to have complete control of the Dogecoin that you buy, then you will need a crypto wallet to store the altcoin. However, trading in a platform such as eToro does not require a crypto wallet to buy and sell Dogecoin.

Can I buy Dogecoin in Australia?

Yes, you can. For example, you can purchase Dogecoin on the eToro platform which is available for Australian residents..

How much money do I need to buy Dogecoin Australia?

How much money you need to buy Dogecoin in Australia will depend on your broker. For example, if you’re using eToro the minimum amount to buy DOGE is US$10.