How and Where to Buy Dogecoin (DOGE) in the UK 2024

Dogecoin was first created in 2013 as a “meme” cryptocurrency. However, in 2021, meme coin gained new life as a tipping mechanism. Dogecoin’s resurgence was made possible by Elon Musk, Mark Cuban, and Snoop Dogg.

One of the most highly traded cryptocurrencies, its market capitalization in May 2021 was US$78 billion. However, at the time of composing (late December 2021), the figure had decreased to US$23 billion. However, it continues to be a popular investment amongst crypto enthusiasts. If you’re looking to diversify your portfolio with Dogecoin, this guide will take a look at how to buy Dogecoin in the UK as well as the best exchanges to buy it from.

What is Dogecoin?

Dogecoin was introduced in December 2013 as an open-source, peer-to-peer cryptocurrency that encourages social interaction. As one of the early crypto-era’s leading players, Dogecoin was launched shortly after Bitcoin and Litecoin. By creating a more memorable cryptocurrency project, the original goal of Dogecoin was to help the general public better understand the technology behind blockchains. Dogecoin has, however, become a symbol of the internet-driven era of retail investors. In 2021, it was impossible to avoid the Shiba Inu, the logo of the meme coin.

Like other cryptocurrencies, Dogecoin employs blockchain technology. Furthermore, DOGE makes Bitcoin’s technology faster and more affordable by introducing several improvements. Moreover, other cryptocurrencies offer better, more innovative solutions that lower transaction costs. Although Dogecoin trading isn’t revolutionary, it was the first project to harness the power of the community to gain traction in the market.

Why Buy Dogecoin UK?

Dogecoin started as a joke but has quickly gained traction in the investing world. While some may still see it as a meme coin, many investors now see it as a viable way to diversify their crypto portfolios. There are several reasons why people are turning to this digital currency.

Firstly, Dogecoin offers a low entry point for investors. With Bitcoin and other popular cryptocurrencies reaching astronomical prices, buying a whole coin can be unaffordable for many. However, Dogecoin is more affordable, allowing investors with smaller budgets to get a piece of the crypto market.

Secondly, Dogecoin has a strong and loyal community. The Dogecoin community is known for its active and supportive nature. From charity initiatives and fundraisers to online forums and social media groups, Dogecoin enthusiasts come together to support each other and promote the coin. This sense of community creates a network effect, leading to greater adoption and potential future growth.

Thirdly, the market sentiment surrounding Dogecoin has improved significantly. With prominent figures like Elon Musk showing their support for the coin through tweets and public statements, interest in Dogecoin has soared. This increased attention from influential individuals and companies has created a positive perception of the cryptocurrency, which may contribute to its long-term success.

How to Buy Dogecoin in the UK

Are you interested in buying Dogecoin? You can buy Dogecoin on Coinbase with a minimum investment of $20. Below is an overview of how to use the platform to invest in DOGE.

Step 1: Open an account with a centralized exchange

You can open an account on Coinbase, or any other dogecoin exchange, by visiting their website and clicking the ‘Create account’ link.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

Please enter your email address and password, and click the link in the email sent to you to verify your email address.

Step 2: Upload ID

Coinbase requests that you verify your identity. Your driver’s license or passport photo should be uploaded to your account. As well as a bank statement, a utility bill must be uploaded to verify your address.

Step 3: Deposit Funds

The next step is to fund your account by connecting a payment method and sending fiat currency to your account balance. The safest option is to send funds from your bank account however, Coinbase also accepts debit card and eWallet transfers.

Step 4: Buy Dogecoin UK

Search for the Dogecoin cryptocurrency token in Coinbase’s dashboard to buy it. To open an order form, click ‘Trade’ when it appears. Then, click ‘Open Trade’ to complete your trade after entering the amount of Dogecoin you wish to buy.

The Best Dogecoin Trading Platforms in the UK Reviewed

In the following section, we will take a closer look at the best platforms to trade Dogecoin. Dogecoin is available on decentralized exchanges and centralized exchanges which means that it is possible to buy the token with fiat currencies or other crypto. Read through our mini reviews to decide which exchange is best suited to you.

1. Coinbase – Best centralized exchange to buy Dogecoin for beginners

Cryptocurrency exchange Coinbase is currently the largest in the world. The exchange will have a clear interface and a wide range of trading pairs available to customers.

Located in Wilmington, Delaware, Coinbase is the largest exchange for digital currencies in the United States. Coinbase’s user interface is so easy to use that even beginners can use it. However, Coinbase Pro is also available to experienced traders.

Cryptocurrency company Coinbase is another popular company. They also offer trading and exchange services. In addition, the platform also offers users a business payment platform, custody services, and cryptocurrency COIN. Coinbase Pro also allows traders to buy Dogecoin UK.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

2. OKX – Popular altcoin exchange with excellent staking features

OXK is a Seychelles-based exchange. Considering that this platform has cheap exchange fees, it might be the best option.

More than 250 cryptocurrencies, including Dogecoin, are available at OKX, and new cryptocurrencies are being added regularly to the platform.

You should be aware that there are two ways to trade cryptocurrencies on OKX: the standard method and the leveraged method. You will have access to resources, chart analysis, and living order access with one of these choices. Leverage allows for increases of up to 125X. Therefore, if you are someone with market experience, this platform may be excellent for you.

As well as trading Dogecoin, OKX also offers users the opportunity to stake their holdings to earn interest. It is also possible to join a crypto mining pool and also to lend your crypto to provide liquidity.

Dogecoin can be bought from OKX with a trading fee of just 0.010%- small compared to many other exchanges. Furthermore, the platform is decentralized which means that transactions are fast and no third parties are involved.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

3. Crypto.com – The best platform to buy Dogecoin on mobile

The cryptocurrency exchange Crypto.com is one of the fastest-growing in the world today. Due to the hard work of a large team of developers and a strong marketing team, this site is one of the fastest and one of the most secure. Their stablecoin staking program boasts a return of 14% a year on a portfolio of over 40 cryptocurrencies and stablecoins.

The Crypto.com platform is one of the most ambitious platforms of our time, securing 12th place in the list of digital coins with the CRO coin, which has a market cap of $16.6 billion. In addition, the company offers margin trading, derivatives trading and is starting to move into the NFT market. Transactions at Crypto.com require a minimum investment of $1.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

4. Alvexo – Best platform to buy Dogecoin and other financial instruments

The main goal of this broker is to provide its traders with a convenient and friendly trading environment. Additionally, they can acquire new skills and learn valuable things through such an endeavor. A subsidiary of Alvexo, which is headquartered in Paris, the company also has offices in Cyprus. Traders at Alvexo have access to a platform that allows them to execute trading orders quickly and efficiently.

Trading CFDs online with Alvexo is possible for foreign exchange traders. Mobile applications and web-based platforms are among the platform’s features that are similar to those of a stockbroker. Alvexo is a CFD platform, so the spread is deducted from the commission for each asset since it’s a CFD platform. Classic Accounts have a wide range of spreads. However, Classic Accounts can offer even lower spreads, as low as 2.9 pips. All other charges are included in the spread fee.

It is easy to learn and trade with Alvexo. There is a wide range of educational features and trading signals available on the platform and news, webinars, eBooks, economic calendars, and a financial web TV channel. Additionally, since CySEC is known for its reputation for security, traders can benefit from the fact that the platform is licensed and regulated in the EU.

76.22% 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.

5. Margex – Best exchange for active Dogecoin trading

Margex has been providing cryptocurrency brokerage and trading services worldwide since it was founded in 2020. Due to these factors, the market conditions for launching this platform in Seychelles are particularly favorable. Therefore, the information needed for KYC is not required for the operation of the exchange, but there is another important factor to take into account.

Due to its availability from any location, it’s more convenient, and the privacy of your financial information is assured. Margex’s security program offers users the ability to protect themselves from financial risks by creating their own MP Shield (Listener Protection Shield) with data encryption. Moreover, the platform does not maintain a record of cryptocurrency assets that have been subjected to price manipulation in terms of liquidity trading pairs. There are several security options available for withdrawals and deposits to ensure your account’s safety.

Furthermore, some platforms also provide certification for the second step. The disadvantage of not doing this is that you will be unable to use some of the service’s features.

Beginner cryptocurrency traders can learn about Margex’s trading platform using its intuitive interface. Then they can get started right away. Additionally, beginners can benefit from reading material, such as articles and videos to make money from crypto trading. Margex’s trading website is easy to use as a beginner cryptocurrency trader because it offers easy-to-use features before you begin to trade right away. Likewise, beginners who wish to gain profits in crypto trading can find articles, video guides, and useful reading material.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

6. Huobi – Excellent Dogecoin trading platform for advanced trading strategies

Singapore-based Huobi is an exchange and online financial services company focused on cryptocurrencies. Huobi, the popular exchange for crypto-assets, offers users a wide range of resources, including Bitcoin, Ethereum, and XRP, as well as the opportunity to participate in initial coin offerings (ICOs) ahead of their mainstream rollout. Huobi was founded in Beijing, China. After the Chinese government expelled cryptocurrency exchanges in 2017, its presence in the market grew rapidly.

A favorable crypto law regime led the company to move to Singapore. With over 355 types of cryptocurrency available on Huobi, it’s the largest crypto exchange globally. There are 130 countries represented on the platform, with over 5 million active users in total. Based on the daily trading volume derived from Coinmarketcap, Huobi is ranked third among the leading cryptocurrency exchanges.

It is because of this accessibility that Huobi has become so popular. That is one of the most convenient ways to trade both for new and experienced traders at the same time.

After you have completed the account setup process, you will only have to wait about two minutes for it to be complete. If you also have no problems with it, you are more than welcome to do it.

Huobi did not experience any security breaches since launching its company wallets. They have achieved this enviable record through several security protocols. The crypto funds for Huobi are also secured by a cold storage facility located off-chain, so bad actors cannot access them.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

7. Binance – Top-Rated Dogecoin Trading Platform UK

There is a possibility that you will find the cryptocurrency you are looking for on Binance. The reason is that this cryptocurrency exchange conducts billions of dollars worth of transactions every day.

The list includes several small-cap coins as well as hundreds of pairs. ERC-20 tokens are also represented in large numbers. You might be able to use your debit card where you live.

The fees range from 3 to 4%, however. Nevertheless, Binance’s fees are extremely low. For example, you’ll pay just 0.1% if you own Binance Coins (BNB) on the platform. In addition, Binance will be a great option if you enjoy performing technical analysis since it offers different charting options and order types. Buy dogecoin UK is also available.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

8. Coinjar – Best exchange to buy Dogecoin for long-term investors

As a global cryptocurrency platform, Coinjar has won several awards over the years for its development. It is still the biggest digital currency broker globally despite its entry into the Australian market. A user of Coinjar can easily purchase and sell Bitcoin and other cryptocurrencies simultaneously.

This site records the cryptocurrency exchanges throughout the day and provides 24-hour access to that service. Aside from that, Coinjar also provides Bitcoin wallets in the United Kingdom and the ability to purchase cryptocurrencies from its platform. Currently, Android, as well as iOS platforms, are supported, making it convenient for users.

You can find all the features laid out and optimized to fit your specific operating system, making this a very easy application. When you have installed the application, you will receive your cryptos at your unique wallet address as soon as it has been installed.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

9. CoinCorner – Best mobile app to buy Dogecoin in the UK

For beginners looking for a bitcoin wallet without a lot of technical knowledge, CoinCorner might be your best option. CoinCorner is also a trading platform so that you can buy and sell Bitcoins through the wallet. In contrast to the other platforms on this list, CoinCorner’s wallet cannot be downloaded separately; it can only be accessed through the CoinCorner platform.

Additionally, CoinCorner’s bitcoin wallet lacks the safety features that the other options on this list do. So, even though it has been designed for beginners, the platform’s security can be questioned for some time. Nevertheless, beginners usually start with CoinCorner because it is one of the most secure and advanced Bitcoin wallets before moving to other, more advanced platforms.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

Buying Dogecoin Safely

Technically, Dogecoin trading is not a scam. That is just another cryptocurrency that is gaining traction. Nevertheless, Dogecoin trading is a poor investment in terms of the fundamentals of investing – other cryptocurrencies are better.

The Robinhood platform makes Dogecoin easily accessible to retail investors. As with Gamestop, its value depends on speculation, but it is not a scam.

Due to Dogecoin’s steep price increase since 2018, it is a very risky investment. Furthermore, after considering the cryptocurrency’s lack of value, the cryptocurrency does not possess any utility.

Risks of Buying Dogecoin

Because of its popularity, Dogecoin also has an unpredictable future. In general, the higher a coin’s value, the greater the chance that its value may suddenly increase or decrease.

Dogecoin trading is very popular, and therefore there is the possibility of a third party accidentally raising or lowering the price. In addition, Dogecoin’s price can drastically change just by Elon Musk’s presence on Twitter since people will buy it or sell it depending on his tweets.

Dogecoin buyers are also encouraged to keep up with what is said. As an example, celebrities play a part in influencing the feelings of their fans about currency, in addition to the usual differences in value.

The use of the same consensus model as Bitcoin is a key characteristic of Dogecoin trading, making it relatively secure. However, the cryptocurrency has been unceremoniously hacked. It took hackers only a few weeks after the launch to seize 21 million Dogecoins, worth $12,000 at the time.

Dogecoin’s blockchain wasn’t compromised; hackers only compromised Dogecoin’s website so that payments were directed to their wallets. That, therefore, makes Dogecoin’s trading platforms very secure.

Conclusion

Despite its creation as a joke, the Dogecoin cryptocurrency has now survived for more than eight years. Elon Musk recently gave Dogecoin a boost – and although the excitement has died down, it may only be a matter of time before social media spotlights come back once more for the meme coin.

In this guide, we have taken a look at how to buy Dogecoin from Coinbase in the UK. We have also revealed 7 other Dogecoin exchanges that you could use to invest in Dogecoin in 2024. Before making any investment, take time to thoroughly research the market and ensure that you can afford to lose the money that you invest.

Cryptoassets are highly volatile. Please make sure that you can afford to lose your investment.

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