How to buy large amounts of Dogecoin in 2023

By:

James Knight

James is a lead editor for Invezz, where he covers topics from across the financial world, from the stock… read more.

Updated: May 11, 2023

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Use this guide to help you get your hands on a lot of Doge. It tells you what sort of platform you need to find, explains the pros and cons of the different approaches, and compares the best exchanges around.

Compare the best places to buy large amounts of Dogecoin

These platforms are the best place to get a lot of Dogecoin right now. Click through the links in the table below to get started, or keep reading to learn more about how to choose between them.

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What is a large amount of Dogecoin?

The exact value that represents ‘a lot’ varies from person to person but in this case, we mean $10,000 worth or more. Although the exchange rate can be volatile, that’s equal to 40-50,000 DOGE.

What’s the best way to buy a lot of Dogecoin?

The two main options come in the form of traditional crypto exchanges with high maximum trade limits and over the counter (OTC) exchanges. You still might be able to get a substantial amount of Dogecoin from a broker but there’s usually a max trade size that means you can’t get more than $500 or $1000 worth.

Cryptocurrency exchanges vs OTC exchanges

The main difference between the two methods is that with a traditional exchange you make trades with other users in real-time through the platform. On an OTC exchange, you essentially place an order with the exchange at an agreed price, and it then obtains all the Dogecoin you want.

To help you decide which of the two methods is best for you, we’ve summarised the key points of each and compared them. 

Traditional crypto exchanges

An exchange is the easiest way to make a crypto purchase. Exchanges usually offer the best and most accurate prices on the market as they constantly refresh as more orders come in. Assuming this isn’t the first time you’ve bought Dogecoin, you’re probably familiar with them already.

The challenge with buying a lot of coins on an exchange is that you won’t usually be able to fulfil the order by matching with one particular seller. Instead, lots of different trades have to go through to make up the whole and that can cause ‘slippage’, where you get the best price on the first one but it gets worse (or ‘slips’ away) with every transaction.

OTC exchanges

An OTC exchange is similar to how traditional brokers worked before the internet. You contact the exchange to say you want to buy (or sell) a set amount of an asset, you agree on a price, and the exchange deals with actually obtaining it.

Crypto OTC exchanges are designed for large or institutional buyers, where it’s not practical to go out and buy many thousands of dollars worth of coins. For that reason, they’re the best bet if you really are trying to get a lot of DOGE, but the trade-off is that you will have to pay a premium for the service.

Other options

Your alternatives beyond these two methods depend on how much a ‘large amount’ is for you. As a single Dogecoin is so cheap, it’s quite easy to get hundreds of coins through a standard broker. That might be the easiest option if you aren’t planning to spend thousands.

Otherwise, if security or anonymity are most important then you can look at ways to organise trades away from a standard platform. You can buy Dogecoin anonymously by using an ATM or arranging in-person meetings or look through our guide to buying Doge to look through the other options available.

Things to look out for

As with any cryptocurrency purchase, you should make sure to pick a platform that gives you a great user experience as well as the best value for money. Here are the most important things to take into consideration when you pick a service and place an order.

Slippage

This is when the market moves before your order is fully completed and is a common issue with big purchases. The less liquidity (trading volume) and more volatility there is in a market, the more slippage can become an issue, as the price can shift dramatically while the exchange is fulfilling your order.

One way to combat this is to organise your purchase through an OTC exchange and agree the price in advance. Another is to gradually build up to owning a lot of coins by spreading out smaller trades over a period of time.

Trading volume

Trading volume is linked to slippage and you want to make sure you’re using an exchange where lots of trades are happening all the time. That way, you can be confident there’ll always be someone out there to take the other side of your deal and your transaction won’t be enough to cause a big change in the price.

Fees

Almost all crypto exchanges or brokers charge fees and that’s still true when you’re dealing with a lot of coins. Before you sign up and start using a platform, check its fee structure and look out for deposit and withdrawal fees along with how much you’ll be charged for every trade. Remember to consider blockchain fees as well.

Trading limits

Most brokers and some exchanges have minimum and maximum limits on how much you can buy. Obviously, to buy a large amount of anything you need to make sure the platform has high enough limits that you can get as much as you want. It shouldn’t be an issue with most exchanges but it’s worth making sure.

Security

When you’re putting a lot of money on the table then security is an important consideration. Look into the protection a platform offers before signing up and it’s certainly worth looking around to make sure it has a strong history of keeping other customers’ money secure.

Quick answers to key questions

Is there a limit to how much Dogecoin I can buy?

No, not in a practical sense. The limit is what you can afford. Theoretically, there is a fixed total amount in circulation but as that figure is well over 100 billion, it’s unlikely to restrict what you can get. The only restrictions come from specific platforms that have maximum trading limits in place and there’s no limit to what you can own.

Can I buy Dogecoin with another cryptocurrency?

Yes, you can swap any other leading cryptocurrency for Doge on specific exchange platforms. When it comes to buying a lot of it, you might have to use either a fiat currency like GBP or USD, or a major cryptocurrency like Bitcoin or Ethereum.

Will I have to pay extra fees for a big transaction?

Yes, in some form, but the exact amount and make up of the fee will vary depending on where you decide to do it. An OTC exchange will include its fee in the price that’s quoted to you, while a traditional exchange will charge a small commission. Remember that you might have to pay more due to ‘slippage’ if you use a traditional exchange as well.

Can I use more than one exchange?

There’s no limit to the number of exchanges you can use. In practice, it might simply be easier to use one exchange or go through an OTC platform that can do the work for you. But theoretically, you can sign up and use as many exchanges as you like to get your Dogecoin.

Where should I store my coins?

A cryptocurrency wallet is the most secure way to store a lot of coins. There are a variety of different Dogecoin wallets available but hardware wallets that keep your coins in ‘cold storage’ (offline) might be the safest option. There’s nothing to stop you from leaving them in an exchange account other than the security risk of the platform being hacked.

What should I do now?

To go ahead and get Dogecoin now, use the table above to pick a platform and get started. Otherwise, you can go to our Doge hub and learn more about the different ways to invest, discover the basics through our crypto guides, or get to grips with the latest Dogecoin news below.