How to Buy Dogecoin and Place a Bet – Beginner’s Guide
On this page, “Bookmaker Ratings” tells how you can buy Dogecoin and what methods are available to users when transacting in Dogecoin. You can also learn how to bet with Dogecoin, what tools you can use to store cryptocurrency and transfer it from wallet to wallet, and other useful nuances of working with DOGE.
Ways to Acquire Dogecoin
Cryptocurrency holders can buy Dogecoin using the following methods:
- through OTC markets and P2P trading,
- through the exchange,
- on crypto exchanges.
OTC markets are the least profitable and reliable way to buy. It is necessary to pay a commission, the acquisition rate is lower than on the stock exchange, and the risk of being deceived is higher.
P2P trading is more reliable than the previous method but is also characterized by a low purchase rate. The situation is the same on crypto exchangers, but the fraud moment is almost excluded here – if only you access the service with negative reviews.
Buying through a crypto exchange is the most profitable and safest way. You can purchase assets for rubles or other currencies directly from your bank card. The course will be relevant, the speed of the operation is high, and the risks are minimal.
How to Buy on the Exchange?
To buy Dogecoin through a crypto exchange, you need to follow this instruction (for example, we will use the Binance exchange):
Step 1: Go to the Binance site and click the “Register” button.
Step 2: Enter the required data and confirm the creation of an account.
Step 3: After confirming the registration, go to account verification.
Step 4: Next, click the “Buy cryptocurrency” button and choose the method that is best for you (P2P or bank card).
Step 5: Now enter the purchase amount and select the DOGE token to purchase.
Step 6: Confirm the purchase by entering the codes and waiting for the tokens to be credited to your spot account.
Where to Store Dogecoin?
Modern investors have enough ways to store cryptocurrencies – offline and online tools exist. Let’s highlight the most popular options from the existing ones:
- Hardware wallet – It looks like a flash drive, only a little more – a classic adapter. It stores private keys in electronic form; with its help, it is convenient to make transfers, and you can easily transport them to different places. The most preferred option for storing large amounts;
- Cold wallet is often used as a PC that has never been connected to the Internet. One of the safest ways to store DOGE;
- Exchange account – Often, users leave tokens in their account after buying on the exchange. The method is characterized by average reliability. After all, funds have been withdrawn from exchanges more than once in the history of the crypto industry;
- Browser wallet – Looks like PC software, a browser extension. The least reliable way to store funds, but quite convenient for small amounts of assets. Has high popularity.
Now, let’s figure out how to have a browser wallet on your smartphone.
Download and Install Metamask
Metamask is one of the most popular browser wallets at the moment. You can download it from the official website at Metamask.io – use this site because the company has a lot of phishing links.
After navigating to the site, select your browser version and click on it.
Immediately after that, the extension download will begin and its automatic installation. Upon completion of the installation, the Metamask icon will appear on the toolbar in the browser; by clicking on it, you can create your first wallet and fix the seed phrase (it is better to do this on paper). You can also assign a password and save the private key. You can open the wallet with one click on the icon.
Transferring Funds to a Wallet
To transfer Dogecoin tokens to a browser wallet, after purchasing assets, do the following:
Step 1: Log in to your exchange account and select a spot.
Step 2: Click on the withdrawal button opposite the DOGE asset.
Step 3: Copy the wallet address in Metamask.
Step 4: Enter the address on the exchange website, and specify the number of tokens and the network.
After confirmation, the assets will be in your wallet within a few minutes!
How to Place a Bet?
Nowadays, there are many sportsbooks that accept Dogecoin. How to find these sportsbooks? We have already done that. We have compiled all TOP online bookmakers that accept DOGE. Go to our “Best Dogecoin Sportsbooks & Crypto Betting Sites 2022” to learn more.
The Dogecoin cryptocurrency is a popular asset in many areas where money is used. You can buy DOGE on exchanges, OTC, P2P, and through exchangers. Storing assets is a personal matter for everyone; you can do it using browsers, hardware, cold wallets, and on-exchange accounts. You can bet on Dogecoin not in all bookmakers but in those that accept cryptocurrency. To make a bet, you must replenish your account in DOGE tokens and place a bet.
Is it possible to buy Dogecoin in small amounts?
The DOGE token is worth much less than a dollar (as of September 2022, its value is about $0.07). Therefore, you can buy a token for small amounts in different ways.
Is it safe to store Dogecoin on an exchange?
If we are talking about a small amount, you’re not afraid to lose; it is safe. But it is important to choose a reputable exchange that is not known for money laundering, such as Bybit, Binance, etc.
Where to buy Dogecoin?
You can buy DOGE cryptocurrency through an exchange, on OTC markets, and in P2P trading, as well as through crypto exchanges.
What is the safest way to store Dogecoin?
The most reliable way to store Dogecoin is through hardware and cold wallets.
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