Summary: Dogecoin is a cryptocurrency meme coin that was created in 2013 as a joke. In this article, we’re going to go over everything you need to know about buying and selling Dogecoin on eToro. Is it safe, legit, and easy to get started with Doge on eToro?
Let’s dive in.
Trading Dogecoin on eToro - Complete Guide to eToro Dogecoin
On May 9th, 2021 eToro announced that they listed Dogecoin (see the USA DOGE markets page here).
A top 10 crypto, and a meme coin favorite, the announcement was well received by eToro customers.
Here’s the links and stats you’ll need to explore Dogecoin on eToro:
eToro Dogecoin Links
What is Dogecoin?
But what is Dogecoin and should you buy Doge on eToro? Let’s dig a little deeper.
Dogecoin (Ticker: $DOGE) is a cryptocurrency that was created in 2013 by software engineer Jackson Palmer. Similar to Bitcoin, Doge is a clone of Litecoin, itself a clone of Bitcoin, and runs a proof-of-work algorithm very close to Bitcoin’s own. One key difference is that Dogecoin has an endless supply that will constantly increase, making it highly inflationary.
Over the years, Dogecoin (Or simply, Doge - pronounced ‘Doje’), gathered a massive cult following and became immortalized when famed entrepreneur, Elon Musk, began promoting the coin on Twitter.
Another popular meme coin, Shiba Inu, is also available for trading on eToro, under the ticker SHIBxM (Shiba Inu in Millions).
eToro is a great option for buying or selling Dogecoin: you can buy or sell it on the trading platform, swap for other coins on eToro’s wallet, or copytrade prominent Dogecoin traders using their social trading platform.
What is eToro?
eToro is a social trading and investment platform that allows users to trade a variety of assets, including cryptocurrencies, ETFs, stocks, and more. You can trade Bitcoin on eToro and tons of other cryptos.
One of the largest cryptocurrency exchanges in the world, with over 15 million active users, eToro is well known for its copy trading platform which allows investors to automatically copy trade professional traders.
In our eToro review, we cover everything you need to know about the platform itself. In this article we’ll mostly focus on Doge on eToro.
How To Get Started With eToro
If you're interested in buying or selling dogecoin on etoro, the first thing you need to do is create an account.
Creating an account is easy and free, plus you’ll get a free $100,000 trading account when you sign up.
Once you have created your account, you will need to deposit funds into your etoro trading account.
You can do this by credit/debit card, bank transfer, or PayPal. Once your funds are deposited, you're ready to start trading.
How To Buy Dogecoin on eToro
Buying dogecoin on etoro is simple. Just log into your account and follow the steps below.
Step 1 - Sign up for an eToro account here if you don't already have one.
Step 2 - Deposit funds to eToro.
Step 3 - Click “Discover” on your eToro dashboard then select “Crypto” to explore cryptocurrency markets.
Step 4 - Scroll down and find Dogecoin or go to the DOGE markets page here.
Step 5 - Click the “buy” button, choose how much you want to invest, and then click “Open Trade.”
Once you get the order confirmation, you should now see your balance in your eToro wallet.
Alternatively, you can copy trade Dogecoin traders on the eToro copytrader platform.
How To Sell Dogecoin on eToro
Selling dogecoin on etoro is just as easy as buying it. Follow the same steps as above.
Just log into your eToro dashboard, select "Dogecoin" from the list of assets, enter the amount of dogecoin you want to sell, and click "Sell".
How To Send Dogecoin to eToro's Wallet
If you want to store your dogecoin in etoro's wallet, you can do so by clicking on the "Wallet" tab, and selecting "Dogecoin" from the list of assets. Then, enter the amount of dogecoin you want to send to your etoro wallet, and click "Send".
eToro Dogecoin Fees & Costs
The fees associated with etoro dogecoin transactions (and all crypto trades on eToro) are very reasonable.
Buying and selling fee: When buying or selling Dogecoin on eToro, you’ll pay a single, simple fee of 1%. The 1% fee gets deducted from your balance immediately, for example, if you purchase 100 Dogecoin, you will see 99 Dogecoin in your wallet upon purchase completion.
Transfer fee to the eToro wallet: When you transfer from the eToro platform to their wallet, you’ll pay a coin transfer fee of 2% of the transaction fee, with a minimum fee of $1, and a maximum fee of $100.
Blockchain fee: Depending on the coin you are trading, you may incur fees from the blockchain itself.
Here’s a video explaining more about eToro’s fees:
FAQs About eToro Dogecoin
Yes, etoro offers dogecoin trading to its users.
Buying Dogecoin on eToro is easy. You have several choices. You can buy/sell directly from the eToro trading platform, copy trade a professional trader, or use the eToro wallet app to swap your Dogecoin for another asset.
If you’re looking to jump onto the Dogecoin meme craze, look no further than eToro for your investing needs.
eToro has reasonable trading fees, multiple ways to buy and sell DOGE, and makes copy trading professional Doge traders easy.
Signing up is free and comes with a $100,000 trading demo account.