Best Dogecoin Trading Platform in November 2024

Meme coins have been gaining ground in the crypto space recently, attracting the attention of many investors. One of the most well-known and popular meme coins is Dogecoin, which was launched in 2013. Although it was initially developed as a joke, it quickly gained popularity and is considered to be the first meme coin.

Currently, the Meme coin price is $0.093356 USD, and its market capitalization is $13,276,674,807 USD. It is one of the top 10 coins on CoinMarketCap. This shows that interest in DOGE has not gone away, and some investors are looking to invest in this currency. In this article, we have reviewed the best platforms where you can buy and trade Dogecoin.

What is Dogecoin?

Introducing the “fun and friendly” digital currency Dogecoin in December 2013 is a peer-to-peer, open-source cryptocurrency that promotes social interaction. The coin was created by Jackson Palmer and Billy Markus. The Dogecoin trading project was launched soon after Bitcoin and Litecoin, two of the major players of the early crypto era.

The original purpose of this cryptocurrency was to satirise the hype surrounding the cryptocurrency industry. But the coin was a huge success and soon became the centre of attention and one of the most popular meme coins. Dogecoin also currently has one of the largest communities in the crypto space and enjoys the attention of several major celebrities such as Elon Musk.

Dogecoin’s technology is similar to other cryptocurrencies such as Bitcoin. In addition, DOGE introduces several improvements to Bitcoin’s technology to make transactions faster and more affordable. But even if other cryptocurrencies offer better, more innovative solutions that reduce transaction costs, Dogecoin remains popular in the crypto industry.

What is Dogecoin Used For?

Dogecoin, like other cryptocurrencies, is based on blockchain technology, which uses a secure, distributed digital ledger to record and aggregate all transactions within its network. Similarly, the Dogecoin network implements cryptographic techniques to ensure the security of all transactions taking place on this blockchain platform. The cryptocurrency offers a low-fee payment method and is accepted by many notable providers, including Tesla, Microsoft and Twitch.

Dogecoin has the potential to be used for payments and purchases, but it has not proven to be effective as a store of value. This limitation stems from the fact that there is an infinite amount of Dogecoins that can be created, which gives the cryptocurrency an inherent inflationary nature.

Is Dogecoin a Good Investment Right Now?

Although it’s a volatile coin and doesn’t offer many use cases like other cryptocurrencies currently do, Dogecoin remains one of the most popular meme coins on the market. The current market cap of Dogecoin is $13.71 billion, according to the source.

It is estimated that the price of Dogecoin could peak at $0.158 by the end of 2023. With the prospect of further growth, there is a possibility that the DOGE price could reach the $1 threshold by 2029, with a projected peak of $1.19 for that year. Opinions on investing in Dogecoin vary, so we recommend that you analyse the market and its trends to understand if this is an investment for you.

Dogecoin Prediction 2024

It is important to note that any prediction of cryptocurrency prices, including Dogecoin, is speculative and subject to significant uncertainty. The evolution of cryptocurrency prices can be influenced by a number of factors, including market conditions, global trends, user adoption and unexpected events.

According to the predictions of some analysts, it is estimated that in the year 2024, the expected minimum value of Dogecoin could reach around $0.0550. In the same context, the predicted maximum price of DOGE cryptocurrency could be around $0.0695.

On average, it is expected that the trading price of Dogecoin could be around $0.0840 during 2024. It is important to emphasise that these forecasts are speculative and may change depending on various influences that may affect the crypto market.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

The Best Dogecoin Trading Brokers in 2024

There are many platforms that offer you the opportunity to trade or learn how to buy Dogecoin. Below, we will look at some of the options that are suitable for both beginners and advanced traders looking at how to buy Dogecoin. Hopefully, this selection will help readers select the best app to buy Dogecoin.

1. Kraken – Top Dogecoin trading app with excellent usability

Kraken is an excellent platform to consider for learning how to buy Dogecoin in 2024. Kraken stands out from the competition due to its wide selection of cryptocurrencies and low minimum trade of $10. This makes it an excellent choice for those looking to diversify their holdings or begin trading with small amounts of capital.

For Dogecoin trades, Kraken charges a flat fee of just 1.5%. You may also be charged for deposits and withdrawals. Other than that, the platform is free to use and requires no minimum deposit.

Users can also benefit from the platform’s variety of educational resources, including webinars, a podcast and in-depth guides, which will surely help them find out how to buy Dogecoin safely. When investing in meme coins, it is important to understand the market and conduct research.

Kraken has received an ISO/IEC 27001:2013 certification which means that the exchange adheres to the highest industry standards. The platform also has a number of great security features in place including 2FA, automatic session timeouts and SSL encryption. Kraken is compatible with most hot wallets which means that you can easily transfer your DOGE to a safe place after buying on the exchange.

Your money is at risk.

2. eToro – The overall best app to buy Dogecoin

eToro is a globally recognized trading platform that is regulated by the Financial Conduct Authority, the SEC, CySEC and ASIC. Those who are interested in how to buy Dogecoin on eToro should keep in mind that the platform is considered to be one of the safest to use and is a great option for both beginner and advanced traders.

Users can trade DOGE, among many other crypto assets, through eToro’s online or mobile trading application. As well as cryptos, the platform also supports a range of financial instruments, including traditional stocks, commodities, indices, ETFs and index funds. This makes it possible to diversify your investment portfolio in one place.

One of the most appealing features of eToro is that it offers copy-trading services. Copy trading involves copying the trades of more experienced investors, which could help improve your own trading success. Of course, there is no guarantee that any profit will be made from doing this.

However, copy trading can help reduce research and analysis time. Furthermore, eToro offers a range of ready-made investment portfolios that can be used to gain exposure to the crypto markets. The portfolios are made by experts and provide transparent detail about their past performance so that you can make informed decisions about investing.

For those who cannot figure out how to buy Dogecoin on eToro, it provides a secure wallet that is separate from the trading platform. Traders can move their cryptos from their trading account to the eToro Money wallet seamlessly and transfer assets back to the trading account as they wish. The eToro Money wallet allows traders to access dApps such as MetaMask.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Note: Only cryptocurrencies eToro customers in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash, and Ethereum.

3. Binance – Best Dogecoin exchange with low fees

Binance is a reputable crypto trading platform that lists hundreds of assets, including DOGE. The exchange oversees a huge volume of transactions every day, and it is a popular choice amongst both beginner and advanced investors. Binance is one of the largest crypto trading apps, supporting over 200 crypto assets. As well as DOGE, Binance lists hundreds of ERC20 tokens, including BNB, ETH and ETC.

Binance is more than just an exchange, the platform also offers a range of charting and analysis tools that can be used to make informed trading and investment decisions. The platform also has a native wallet that can be used to store tokens outside of the trading platform.

BNB is the native token of the platform that can be used to lower fees and earn rewards. If you use BNB to purchase tokens, you will pay fees of just 0.1%. However, transactions that do not use BNB will be subjects to fees of 3%-4%.

The exchange offers major currencies as funding options, including the US Dollar, British Pound, Euro, Canadian Dollar, Australian Dollar and a number of minor currencies. Binance also offers a range of cryptocurrencies to fund your account, including bitcoin and ethereum, as well as BNB.

Your money is at risk.

4. Robinhood – A user-friendly platform for buying DOGE

Robinhood stands out as an excellent platform for those interested in active trading, offering the opportunity to invest without incurring commissions. However, it does have some shortcomings, including the limited number of accounts available and restrictions on investing in certain popular asset classes, such as bonds and mutual funds.

Robinhood is a financial services company that allows individuals to trade cryptocurrencies, exchange-traded funds (ETFs), individual stocks and options.

It offers services similar to those of other brokerage firms, enabling commission-free transactions. For a monthly fee, there is also the option to invest uninvested funds in a ‘cash sweep’ brokerage fund, which earns interest on these amounts.

Robinhood is very user-friendly and supports both crypto trading and traditional stocks, which makes it deserving of a spot as the best app to buy Dogecoin. This means that users can easily diversify their portfolio. The app doesn’t support all crypto assets but supports the majority of the big players, including DOGE, BTC, ETH, BNB, XRP, ETC, and others.

Your money is at risk.

5. SoFi – A commission-free platform regulated by the SEC

SoFi Invest, a discount stock broker in the United States, is regulated by the SEC and FINRA. This platform makes it easy to trade US stocks and ETFs with no commissions or withdrawal or inactivity fees. Account opening is hassle-free, fully digital and extremely fast.

The customer service provides relevant and prompt answers, making it particularly suitable for novice investors. The notable drawback is that SoFi Invest is only available to US residents. Its product range is also limited, focusing only on equities, ETFs and cryptocurrencies. However, the platform is a good option for those wishing to buy or trade Doge.

In addition, it has an app that allows you to manage investments, bank accounts, credit cards, and everything else related to your finances in one place. The firm offers a range of financial instruments to trade. Also, spending money with SoFi’s debit card can earn points redeemed for cryptocurrencies such as Bitcoin and Ethereum.

SoFi also offers an automated investing feature, in which algorithms identify the best ways to turn investments into profits and, thus, the best way how to buy Dogecoin or other cryptocurrencies. With all that being said, it is another excellent Dogecoin trading platform to consider. 

Your money is at risk.

6. Gemini – The best app to buy Dogecoin with one of the highest levels of security

Gemini is characterised by its diversified product range, which is aimed at both retail investors and advanced traders. The platform offers features such as detailed charts and the ability to trade instantly. Gemini Exchange is a component of the Gemini platform dedicated to the buying and selling of cryptocurrencies.

This platform is accessible through both web browsers and a dedicated app, providing users with multiple options for accessing its services. The Winklevoss twins founded the Gemini exchange as a security experiment. There are two-factor authentication requirements for all accounts, and most deposits are airtight cold storage (hot storage assets are insured).

Access to production is controlled by the principle of least privilege. It was one of the first exchanges to achieve SOC1 Type 1 and SOC2 Type 2 certification for its hardware security modules, which generate and store keys internally. As a result, Gemini has one of the highest levels of security in the crypto market. Gemini also has a Gemini Pay service, allowing users to spend crypto at more than 30,000 business locations in the U.S.

Your money is at risk.

7. Coinbase – Excellent Dogecoin trading platform for retail investors

Introduced in 2012, Coinbase currently has a superior advantage being reputable for it’s secure and trustworthy token exchange services. It presently records over 13.5 million users with an impressive list of positive users review.

It is licensed to legally operate in many legitimate countries, has a well regulatory users transparency guideline and also features a safe crypto wallet with an asset insurance policy.

Coinbase supports thousands of assets including crypto and NFTs across many viable crypto networks, including Dogecoin. A passive earning advantage is also possible with an up to 6% interest rate for eligible cryptocurrency trade.

The platform offers easy transfer and exchange methods via exclusive mediums like bank transfer, debit/ credit cards and PayPal. Its simplified, user- friendly interface and navigation makes it easy for beginners to conveniently transact on the platform.

At the same time, it features more advanced tools such as that useful for comparing and tracking potential crypto assets for more seasoned users. Additionally, it provides a transparent and accountable  transaction model for a reliable and safe crypto trade for a new beginner.

Coinbase guarantees easy and instant transaction when you use fiat currency to transact via the Instant Exchange feature on the platform, at no additional charge, it equally enhances quick withdrawals useful for crypto conversions and external services.  The platform generally  accepts the USD, EUR and GBP currencies.

Although there are limits of crypto amounts to be sold and bought at a particular time as regulated by their transparency policy, however, Coinbase has an upgrade exchange tool, GDAX for consistent investors to trade between using a wider array of cryptos. For U.S users, the Coinbase debit, also known as the Shift Card permits easy transaction of your crypto coin directly from your online Coinbase wallet, without any extra debit charge.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Ranking criteria

Our experts have carefully selected the trading platforms we have previously discussed to recommend to investors interested in buying Dogecoin. The selection of these platforms was based on key criteria to ensure that they provide a reliable and beneficial Dogecoin trading experience. Here are some of the criteria used to select the platforms mentioned in our guide:

• Variety of cryptocurrencies: These platforms offer a wide range of cryptocurrencies, including Dogecoin, ensuring that investors have access to a diverse selection of digital assets.
• Security: Each platform has been vetted for stringent security measures, including two-factor authentication and secure storage of cryptoassets, to protect users’ funds and data.
• User-friendly interface: Experts have found the interface and user experience offered by these platforms to be accessible and user-friendly, making Dogecoin trading accessible to investors of all experience levels.
• Transparent costs: Important criteria included transparent policies on fees and commissions associated with Dogecoin trading, ensuring that investors are aware of the costs involved.
• Reputation: Experts considered reputation and positive user reviews to validate the integrity and reliability of these trading platforms.

How Can I Trade Dogecoin?

Dogecoin can be purchased by opening an account on a cryptocurrency exchange that supports DOGE. Above we have reviewed some of the best platforms for trading the meme coin. You can purchase DOGE after you have opened your wallet and exchange account.

You can view the DOGE price on your exchange Dogecoin trading platform by opening it first. It is important to monitor the DOGE price and watch how it moves to ensure you don’t overpay for your coins, though cryptocurrencies’ prices always change.

If you use the best exchanges, you will have the option of choosing from a wide range of order types. The basic types of orders you might already know if you’ve traded stocks before. Make sure you have a solid understanding of the most common order types before investing. Determine your available funds and how much DOGE you want to buy by choosing one of the order types available.

After you have placed your order with your broker, they will fulfill it as soon as possible. It indicates that your order has been completed when you see your DOGE in your exchange wallet. Your broker may cancel your order during the day trading dogecoin if they cannot fulfill it according to your specifications.

A cryptocurrency wallet gives you the ability to store DOGE off of exchange by giving you a set of keys. Then, if your exchange is hacked or stolen, you are protected against losing your investment.

For example, users cannot transfer their assets from or to another wallet on Robinhood. Using a wallet that lets you control your private key is the best way to hold your cryptocurrency. All three exchange wallets, Coinbase, eToro, and Gemini, allow sending and receiving. To ensure your private keys are secure, use a wallet that allows you to manage them yourself.

A cryptocurrency wallet is either a hot software wallet or a cold hardware wallet. For access to your investments, you must be connected to the internet with a software wallet. To achieve maximum security, hardware wallets store your coins offline, but the cost may be over $50.

Risks of Dogecoin Trading

As the most popular cryptocurrency, Dogecoin also has an unpredictable future due to its high ranking. In general, the higher the value of a coin, the greater the chance of sudden increases or decreases in its value.

Because of the popularity of Dogecoin trading, there is also a chance that a third party could accidentally raise or lower the price. For example, the mere presence of Elon Musk on Twitter can drastically change the price of Dogecoin because people will buy or sell it depending on his tweet.

As a result, buyers of Dogecoin also need to keep up with what people are saying about it. For example, celebrities can influence the way their fans feel about the currency, in addition to the normal differences in value.

Is Dogecoin a Legit Cryptocurrency?

Technically, there is no scam in trading Dogecoin. The coin is simply another cryptocurrency that has gained popularity. However, in terms of investment fundamentals, Dogecoin may seem like a worthless and useless cryptocurrency to some and they may opt for other options.

Although Dogecoin was originally created as a joke and parody, it has since become a real and functional digital currency. It is based on blockchain technology, similar to other cryptocurrencies such as Bitcoin and Ethereum, and offers the possibility of carrying out various online transactions.

However, it is important to note that Dogecoin does not have the same maturity of development, level of security or recognition as some of the more established cryptocurrencies. Its value is known to be highly volatile, and its development in the market can be influenced by trends in social media and online communities.

Dogecoin trading security risks

A key feature of trading Dogecoin is that it uses the same consensus model as Bitcoin, making it relatively secure. Despite this, the cryptocurrency has been hacked with little fanfare. Within weeks of its launch, hackers seized 21 million Dogecoins, worth $12,000 each at the time.

The blockchain of Dogecoin trading wasn’t compromised. The hackers only compromised Dogecoin’s website so that payments were redirected to their wallets. Therefore, the trading platforms analysed by our experts are safe and we recommend that you choose the platform that suits you only after thoroughly researching and analysing all aspects.

Conclusion

Even though there are much more useful and stable cryptocurrencies on the market, Dogecoin remains one of the best investment options. Today, it is no longer seen as a joke as it was at the beginning of its emergence, but as a currency with potential and the opportunity to generate income. However, investors looking how to buy Dogecoin on eToro should exercise caution and due diligence, recognising that it lacks the same level of maturity, security and market recognition as its more established counterparts, such as Bitcoin or Ethereum.

Therefore, it is very important to choose a secure trading platform. When choosing a platform to trade Doge, it is important to consider all aspects to ensure that it is a suitable and safe option. In this article, our experts have reviewed and recommended some of the best platforms this year.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

FAQs

References

• https://blockworks.co/price/doge
• https://www.cfr.org/backgrounder/cryptocurrencies-digital-dollars-and-future-money
• https://www.youtube.com/watch?v=c6nFs9xhmA8
• https://www.simplilearn.com/tutorials/blockchain-tutorial/blockchain-technology#:~:text=Blockchain%20is%20a%20method%20of,computers%20participating%20in%20the%20blockchain.