(Pocket-lint) - Disclaimer: This article does not constitute financial advice and is intended for informational purposes only. Investment carries risk, and you should only invest what you can afford to lose. The author of this sponsored article may receive a commission if you sign up through its links.
Dogecoin was initially created as a joke currency, but has now garnered a mainstream following due to Elon Musk and the larger crypto community.
Users looking to purchase Dogecoin online will find the following top five Dogecoin exchanges to be perfect for their needs.
Binance has grown to the point where it is practically synonymous with cryptocurrency. Although it was founded relatively recently in 2017, the exchange arguably plays the most important role in the growth of cryptocurrency.
Every single important coin is traded on Binance. As such, Dogecoin can be traded through the exchange, and its popularity has only soared as time has gone by.
When users choose Binance to trade Dogecoin, they get a host of other benefits from the platform. For example, Binance is one of the largest trading platforms out there, and ensures quick order matching and completion.
Binance also has over 100 payment methods for users to purchase Dogecoin. Purchasing with a credit or debit card is the fastest way, but users can also purchase Dogecoin through bank transfers through P2P trading.
On top of that, due to its size and the fact that it is insured, users can also keep their Dogecoin in their Binance wallet. While this is not recommended as the most secure method of storing crypto is cold storage, Binance is one of the safest hot wallets out there.
A lot of the arguments that you would make for Binance being the best place to buy Dogecoin also apply to Coinbase.
Like Binance, it is one of the largest crypto platforms out there. This means that trades are quick and easy to execute. Also, users can keep their Dogecoin in their Coinbase wallets without having to worry too much about its safety.
Unlike Binance, Coinbase focuses less on trading and more on helping users use crypto like fiat currency. As such, while it is possible to trade Dogecoin on Coinbase, we would recommend the exchange for those that want to use the coin instead.
For example, users can use Dogecoin and other cryptocurrencies in their wallet to loan it out and earn interest. Users can also make payments through Coinbase, and even apply for a credit card.
Of course, users can use existing credit and debit cards to purchase Dogecoin. The option to use PayPal is also available.
Lastly, Coinbase is ‘the’ exchange for businesses that are looking to expand into crypto. Businesses that want to purchase Dogecoin, or set up a way for their customers to pay them using Dogecoin, should default to Coinbase.
Coinbase has the most business-friendly features, ranging from industry-leading analytics to institutional-grade offline storage. Cold storing Dogecoin on a flash drive is perfect for someone who has a few coins, but institutions need something more secure. Those institutions should use Coinbase.
Uphold works in a slightly different manner from the other exchanges. It is not a crypto-exclusive exchange. Instead, it tries to offer various different asset classes.
Uphold offers over 60 cryptocurrencies for users to purchase and sell. Apart from crypto, the exchange also offers equities (stocks), precious metals, and environmental assets. Like Coinbase and Binance, it is possible to get a crypto-backed card on the platform.
One of the biggest reasons to use Uphold to purchase Dogecoin is its speed. The platform claims that users can trade fiat currency for crypto within seconds, and it is true.
While the trading features offered on the platform cannot compete with most of the other exchanges on the list, users can engage in automated trading. Automated trading allows users to set up a strategy based on specific parameters and make money without requiring any manual input.
Users that are looking to purchase and hold Dogecoin will benefit the most from Uphold. Users that want to hold cryptocurrency along with traditional financial assets will also find Uphold useful.
KuCoin is a traditional cryptocurrency exchange, much like Binance and Coinbase. While most users gravitate towards the larger exchanges, many choose KuCoin and other smaller ones due to their fee structures.
Smaller exchanges often try to convince users to join their platform by offering lower fees. For KuCoin, that is only partially true. Certain fees on the platform are lower than the industry average, while others are higher.
However, KuCoin offers a lot of rewards, benefits, and promotions for its users. As such, it is possible for users to get cash and cryptocurrency for free. While the currency is not Dogecoin, users can easily trade it for Dogecoin through the platform.
KuCoin also has various trading competitions. This means that users that are sure of their trading skills will be able to win various prizes by competing against other traders. Like Uphold, there is also an option to use a trading bot for automated trading.
Overall, KuCoin is a platform that is extensively geared towards traders. Users that not only want to purchase Dogecoin, but also want to capitalize off its price volatility, will find KuCoin to be the perfect exchange for its needs.
FTX is another platform that is perfect for advanced traders. There are numerous features that allow traders to do what they want. These include various order types and ways through which traders can automate what they do.
While the focus may be on trading, users can still purchase Dogecoin easily for both crypto and fiat currencies. The option to use credit cards and PayPal is available on FTX, facilitating users in quickly purchasing the coin.
FTX is also known for having one of the best mobile apps for trading. People that want to be able to trade Dogecoin and other cryptocurrencies on the go will be very happy with the fully-featured trading interface on FTX. Users also have the choice of trading NFTs, options, and leveraged tokens on the platform.
There is a specific feature on FTX called Quant Zone that allows people that like to use extensive algorithms to trade. Traders that want to captialize off the large market movements that are common in the price of Dogecoin will find FTX to fit their needs.
Where To Buy Dogecoin (DOGE): Final Thoughts
It doesn’t matter how Dogecoin was created, as it functions exactly like any other cryptocurrency. Those who purchase Dogecoin get to enjoy the exact same benefits as any other cryptocurrency. It is anonymous, decentralized, and has a large community supporting it.
Unlike many other cryptocurrencies, Dogecoin does not have a supply cap. This means that it can be mined indefinitely. This can be a good or a bad thing, depending on who people ask.
All of the five aforementioned exchanges are great for purchasing Dogecoin in most countries (Including the USA, UK, Canada, Australia, India & more).
Depending on the needs of the user, a different platform may be the right one for each. Users should go through each exchange and its fee schedule before they make a decision.
However, those who want a one-size-fits-all solution should opt for Binance or Coinbase, as they have the biggest featureset and the largest user base.
Disclaimer: This article does not constitute financial advice and is intended for informational purposes only. Investment carries risk, and you should only invest what you can afford to lose. The author of this sponsored article may receive a commission if you sign up through its links.