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Can you buy Dogecoin on eToro?
In this guide
- 1. Can you buy Dogecoin on eToro?
- 2. Is Dogecoin on eToro?
- 3. How to buy Dogecoin on eToro – A step-by-step guide
- 4. What are the fees for buying Dogecoin on eToro?
- 5. How to store Dogecoin on eToro
- 6. Can I buy Dogecoin with leverage on eToro?
- 7. How to sell Dogecoin on eToro – Step-by-step guide
- 8. Should I use eToro to buy Dogecoin?
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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
In our in-depth eToro review, we explain the many benefits of using the platform. This page takes a closer look at Dogecoin on eToro. Read on to learn all about buying Dogecoin on eToro.
Is Dogecoin on eToro?
Yes, Dogecoin is available to buy on eToro. It’s just one of a selection of 80 coins on the platform. Buying Dogecoin on eToro is a very quick and easy process that takes just a few minutes. eToro also offers the ability to store your DOGE tokens in a dedicated wallet or keep them within the platform.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
How to buy Dogecoin on eToro – A step-by-step guide
To help you buy Dogecoin on eToro as easily as possible, we’ve explained the process below in a handy step-by-step guide. Just follow the instructions below to buy Dogecoin on eToro.
Step 1. Register an account with eToro
You’ll need to open an eToro account to get started. Just visit the eToro homepage, click the ‘start investing’ button, and follow the onscreen instructions to register an account. To make things easier, you can also register using a Facebook or Google account if you have one. If you already have an eToro account, you can skip to step 3 below.
Step 2. Verify your account
Verifying your account is the next step. You’ll be required to upload documents for proof of identity and address, so make sure you have your identity documents available. The verification process on eToro is extremely fast and usually takes a couple of minutes.
Step 3. Make a deposit
Now you’ll need to fund your account; eToro has a low minimum deposit amount of just $10. Click the blue deposit button on the left toolbar and follow the instructions to make your deposit.
Step 4. Search for Dogecoin
Navigate to the Dogecoin trading page from your account dashboard. Simply type Dogecoin into the search bar at the top of the screen and you’ll be taken to its page.
Step 5. Buy Dogecoin
To buy Dogecoin on eToro, click the green ‘Invest’ button at the top right of its trading page. Now fill in your order details, including the number of tokens you want to buy or how much you want to invest and click open trade. You will have now successfully bought DOGE on eToro.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
What are the fees for buying Dogecoin on eToro?
eToro has a flat fee structure for cryptocurrencies. There is a 1% charge each time you buy Dogecoin on eToro and a 1% charge each time you sell Dogecoin on eToro. This fee automatically adds to the price and does not show separately in your account statement.
eToro also charges a 0.5% transfer fee when you send coins from your trading account to your Dogecoin wallet. You’ll also need to consider the bid/ask spread, which is the difference between Dogecoin’s buy and sell price.
How to store Dogecoin on eToro
When it comes to storing your Dogecoin, a couple of options are available. eToro offers its members a free crypto wallet which supports over 120 different coins. Within the wallet itself, you can exchange more than 500 crypto pairs. If you plan on buying DOGE on eToro for the long term, the wallet is the best option as it offers additional security features.
If you plan on trading Dogecoin on eToro and have a short term view, then you can store your coins within the trading platform. You don’t need to take any additional steps to do this. It’s important to remember that when you transfer your Dogecoin to a wallet, you cannot move it back to the eToro platform.
Can I buy Dogecoin with leverage on eToro?
Yes, you can buy Dogecoin on eToro with leverage, although this is only possible for certain users in specific countries. You can buy DOGE via contracts for difference (CFDs), a type of derivative mostly used by short term traders. When you use CFDs, you do not actually own any Dogecoin and are simply speculating on its price moving either up or down.
The maximum leverage available on eToro for Dogecoin is x2. This means you can trade a large position than you have deposited. For example, you can buy $200 worth of DOGE while only depositing $100 into your account. Before using leverage, it is important to remember that both your gains and losses are magnified.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
How to sell Dogecoin on eToro – Step-by-step guide
Selling DOGE on eToro is as simple as buying it and takes just a few minutes. Use the guide below to learn how to sell Dogecoin on eToro.
Step 1. Log into your account
Log into your eToro account using your username and password. Next, click the Portfolio button on the left toolbar to be taken to your open positions.
Step 2. View your open positions
The portfolio section of your eToro account will list all of your open trades. Find your Dogecoin position and click on it. You’ll now be able to view whether it is in profit or loss and other related information.
Step 3. Sell your DOGE
At the top right of the screen, click the close trade button. A popup will appear; you only have to click close trade. You’ll have now sold Dogecoin on eToro.
Should I use eToro to buy Dogecoin?
If you’re a beginner, eToro is one of the best platforms to buy Dogecoin. You’ll only pay 1% in fees for buying DOGE on eToro, which is considerably cheaper than other crypto exchanges, which charge between 3% – 4%. The process of buying crypto on eToro is extremely simple and it even offers a free wallet making it a top choice for long term holders.
If you’re planning to trade Dogecoin, then you can use CFDs which eToro offers (for users in specific countries). Overall, using eToro to buy Dogecoin is a good option, although is best suited if you’re a beginner. For experienced crypto enthusiasts, there may be better options available.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
