In January 2022, Elon Musk confirmed on Twitter that Tesla will accept DOGE as payment for merchandise, causing the meme coin’s value to rally.
In December 2021, the crypto market witnessed a 20% rise in the DOGE/ BTC pair following a tweet by billionaire entrepreneur, Elon Musk. It is regarded as one of the best performing digital currencies of 2021, with the Dogecoin price rising from $0.004 to $0.71 in just five months.
That is an incredible 17,000% increase. It has made many traders enthusiastic about this crypto. And of course, we cannot deny the influence figures like Elon Musk are having on the coin. In January 2022, Elon Musk confirmed on Twitter that Tesla will accept DOGE as payment for merchandise, causing the meme coin’s value to rally.
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Our guide will help you understand more about DOGE and how to buy Dogecoin with a credit card at the lowest fees. We will help you figure out the best exchanges for your DOGE purchase. If you want to buy Dogecoin without paying any commission, then just follow our recommendations.
Best Platforms to Dogecoin with a credit card at the lowest fees in 2022
The crypto platforms below are the best places to buy Dogecoin with credit card in 2022:
• eToro
• Coinbase
• Binance
How to Buy Dogecoin on eToro using your credit card?
1. Open an account for free on eToro.
2. Upload IDs and verify
3. Deposit funds into your account: Choose credit card as your payment option
4. Buy Dogecoin
You can also use the eToro mobile wallet to withdraw Dogecoin.
Step 1: Create an account on eToro
Go to the eToro website and create an account for free.
Step 2: Upload IDs and Verify
eToro is a highly-regulated trading platform wherein KYC process is mandatory. You need to submit a copy of your ID- either passport or driving license. You will also need to submit a utility bill/ bank statement for address verification.
You can also download the eToro mobile app to trade on the go. Many users are more comfortable with the app than the desktop version and both of these have the same features. The mobile app is available for Android as well as iOS devices.
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Step 3: Deposit Funds Into Your Account
After your account is verified, you can deposit funds into your trading account. Select Credit Card as your payment method when you deposit. The minimum deposit is $50 (about £40). Depositing funds into your account using a credit card is easy on eToro.
Step 5: Buy Dogecoin
Type “Dogecoin” in the search bar and click on it when it appears. Next, click on “Trade” at the top right corner of the screen. Enter the amount of the crypto you wish to buy and confirm your order.
Where can you buy Dogecoin with a credit card?
1. eToro– Best Overall
eToro is the best platform for you to buy Dogecoin with a credit card as its high regulation ensures optimal safety to your transactions. It has over 13 million active users and the platform is preferred by many traders because of its social trading platform and copy trading features.
These make the broker stand ahead of others in the industry and enable investors to have comprehensive trading experiences. You can buy Dogecoin with a credit card on eToro as well as trade cryptos against fiat currencies. You can select from the wide array of assets on the platform from global stock exchanges and ETFs. It has a minimum investment of $25.
eToro is a 100% commission-free trading platform. You need not pay any deposit charges when you use a credit card or any other payment option to add funds (in USD) to your eToro account.
Pros
• Highly-regulated platform
• 100% commission-free trading
• Supports credit cards
• Copy trading
• Social trading
Cons
• Flat $5 withdrawal fee
• May not be preferred by traders looking for advanced technical analysis
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
2. Coinbase: Among the Largest Crypto Platforms
Coinbase is the top crypto exchange in North America and is even listed on the NASDAQ exchange. Users can buy Dogecoin on the platform instantly by using a credit card. The trading and transaction fees range from 0.5-4.5% depending on the asset and currency type.
This broker offers a user-friendly interface, which is also suitable for inexperienced crypto investors. The minimum account balance on the platform is only $2. It is known to offer optimal safety to users and their funds in addition to hosting a plethora of currency pairs. It also has various deposit options, inducing credit cards.
Pros
• Many currency pairs
• Supports credit cards
• User-friendly interface
• Minimum account balance of $2
Cons
• Complicated fee structure
Buy Dogecoin on Coinbase.
Your capital is at risk.
3. Binance– Facilitates High Trade Volumes
Binance is another alternative for you to buy Dogecoin with a credit card and a well-known exchange for carrying out large trading volumes. It has low trading fees of just 0.1% maker and taker fees. The Binance platform is suitable both for newbies and seasoned traders to buy Dogecoin using multiple payment options, including a credit card. A reputed name in the industry, Binance processes over $60 billion worth of daily crypto transactions.
It has more than 150 crypto assets on the platform and offers more listings and features compared to other popular crypto exchanges. It facilitates both margin and futures trading. It is possible to earn through the Binance Earn program along with earning crypto assets by staking crypto funds in the future projects of the Binance Launchpool platform.
Pros
• 0.1% Trading fees
• Supports hundreds of crypto pairs
• Supports credit cards
• Suitable for professional traders as it offers advanced features
• Synthesized stock options
• Binance Earn program
Cons
• May not be suitable for new investors
What is Dogecoin?
Created in 2013, Dogecoin has become a popular cryptocurrency today and has led to the relevance of other meme coins. Its creation was intended as a joke, paying tribute to a popular meme of a Shiba Inu dog. Dogecoin also runs on blockchain technology like just many popular cryptos. One aspect that makes DOGE different from other coins like BTC is that its supply is not limited.
Hence, there is no end to the number of DOGE coins that can be released and this is one reason why investors do not expect a rise in its value like Bitcoin. Dogecoin is also not considered a store of value. Well, that has not distorted its popularity and DOGE community members still enjoy being a part of the ecosystem. Mention of Dogecoin by famous personalities like Elon Musk, Snoop Dogg, and Jason Derulo has indeed contributed to its renewed fame.
Will Dogecoin be a good investment in 2022?
It is clear that the sudden rise in the value of Dogecoin in 2021 happened after Tesla CEO, Elon Musk showed continued interest in it. In addition to his repeated mention of DOGE, the Reddit GameStop traders also influenced its rise, pushing it to $0.087, an all-time high.
There is no doubt about the high volatility of this ‘meme coin’ as it grew over 12,000% in just 5 months (January-May 2021). Such an exponential rise is in contrast to coins like Bitcoin and Ether. For reference, Bitcoin’s price saw only a 95% rise and Ether rose 369% in the same five months.
Dogecoin has less significant fundamentals than cryptos like Ethereum and Bitcoin. This is one reason why experienced investors do not consider this crypto as a profitable long-term investment option. The possibility of an infinite amount of DOGE coins circulation is another reason for such a perspective. Many feel it might be a good short-term investment asset if traders are comfortable with about a 30% rise in price.
Although the popularity of the coin has faded to some extent, all we probably need could be another tweet or social media reference for it to rise again.
How do you choose the best broker to buy Dogecoin?
1. Payment Methods: The best and the established brokers provide a diverse range of payment methods, including credit cards. If you want to buy Dogecoin with a credit card, then be sure that whichever broker you choose supports credit cards as an option.
2. Fees: The fees charged by different brokers vary according to assets, currency types etc. There are also platforms like eToro that do not charge any trading fees. You should properly understand the different trading and non-trading fees of various platforms before you buy a crypto. Sometimes there are hidden fees that add to your inconvenience so looking for a transparent broker is a good idea.
3. Regulation: When you choose a well-regulated broker like eToro, you are in safe hands. As you go for a platform with high regulation, it ensures the safety of both your funds and personal information.
4. Customer Support: A well-established exchange will always prioritize its customers. Having an active customer support service helps in delivering the right assistance to clients and they do not feel helpless when they seek support, be it for a transaction or any other process.
5. Available Platforms: The brokers that we have included in this guide offer accessibility on the web and mobile apps. They have the same features in both cases, enhancing user experience along the way. When you want to access your trading account or record your transactions from anywhere, a seamless mobile app interface becomes significant.
Conclusion
To buy Dogecoin with a credit card, simply opt for regulated platforms like eToro. You will be able to carry out your transaction with ease and your crypto purchase will reflect in your account instantly. eToro ensures maximum safety of users and funds. It also comes with interesting features, making the experience comprehensive, especially for new traders.
Benefit from eToro’s user-friendly interface by opening a free account and utilize the variety of payment options if offered, including credit cards. Also, the minimum trade on eToro is just $25. So, to buy Dogecoin on eToro, visit their website now!
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% 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.
