How to Buy Dogecoin (DOGE) on Coinbase? A Step-by-Step Guide

What is Dogecoin (DOGE)？

Dogecoin is a type of digital currency or cryptocurrency that was introduced in December 2013. It started as a joke based on the popular “Doge” internet meme featuring a Shiba Inu dog and was developed by Billy Markus and Jackson Palmer. Despite its origins as a joke, Dogecoin has become a popular cryptocurrency and gained considerable recognition and value.

Like other cryptocurrencies, Dogecoin works using blockchain technology, providing a decentralized network where transactions are recorded and confirmed by peers. Dogecoin has often been used for fundraising and charitable donations due to its community's ethos, which prioritizes philanthropy and fun over pure profit-making.

As the above screenshot shows, you can see that Dogecoin currently has a trading price of $0.1836 and its 24-hour trading volume amounts to $3.37 billion. Both of these data points place Dogecoin in the top 10 cryptocurrencies based on these metrics.

Dogecoin's circulation and total supply are identical, with 143.64 billion DOGE being in circulation. Unlike some cryptocurrencies that have a maximum supply cap, Dogecoin has an unlimited max supply (∞).

What is Coinbase？

Coinbase is a digital currency exchange headquartered in San Francisco, California. Founded in 2012 by Brian Armstrong and Fred Ehrsam, it provides a platform for buying, selling, and storing cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. Coinbase operates in over 100 countries and serves over 56 million users, facilitating the trade of over 50 cryptocurrencies.

One of Coinbase's key strengths is its user-friendly platform, which makes it accessible even for those new to cryptocurrency. It is also known for its robust security measures, and it offers an insurance policy should any digital currency be lost or stolen from the platform.

How to Buy Dogecoin (DOGE) on Coinbase？

The Coinbase platform provides an in-depth, step-by-step guide on successfully purchasing Dogecoin (DOGE) through its interface.

Step #1: Create a Coinbase account

Visit Coinbase.com or download the Coinbase app and start the sign up process. You will need a valid ID and may be asked for proof of address in order to transact, so be sure to have those ready. Verifying your ID may take longer than a few minutes, depending on where you live.

You can access comprehensive guidelines for buying Dogecoin on Coinbase by visiting the following link: https://www.coinbase.com/how-to-buy/dogecoin. Look for and select the 'Buy Dogecoin' button to initiate the process.

Fill in all the necessary details, including your legal first name, legal last name, email, and password. Subsequently, verify that you are over 18 years of age and are the sole beneficiary of this account. Also, read and understand the User Agreement and Privacy Policy. Once you confirm all these details, select the 'Create free account' button.

Please confirm your email address to proceed with the account creation process.

Inspect your email inbox and initiate the email verification process by clicking on the 'Verify Email Address' button.

Upon clicking the verification link, you'll be directed to a page. Here, if you wish to subscribe to tailored email updates about various products, services, and offers based on your interests and usage, select the 'Yes' option. If you prefer not to, simply choose the 'No' option.

Input your phone number, upon which you will receive a verification code that secures your account with two-factor authentication. Then, proceed by clicking the 'Continue' button.

You'll need to input the security code that will be dispatched to your phone, so ensure to check your message box.

Identify the country of your citizenship from the given options and then proceed by clicking the 'Submit' button.

Answer three questions 'What is your primary use for Coinbase？' 'What is your main source of funds？' 'What is your employment status？' and then click 'Submit' button.

Make sure to verify your information and respond to two important questions: 'What's the total value - including cash and cryptos - that you expect to transfer to your Coinbase account in the next 12 months？' and 'What industry do you work in？'. Once done, proceed by hitting the 'Submit' button.

Choose the type of identification document you possess.

However, there are certain restrictions on the types of identity documents accepted.

For residents of the United States, the choices are limited to state-issued IDs - such as a Driver's License or Identification Card, Passport, and the United States Permanent Resident Card (Green Card).

For residents of Italy, an up-to-date National Identity Card with the codice fiscale is required.

For clients not residing in the US or Italy, acceptable forms of identification include a Government-issued photo ID, National Identity Card, and Passport.

Please note that School IDs, Medical IDs, Temporary (paper) IDs, Residence Permits, Public Services Cards, and Military IDs are not accepted.

Please proceed by uploading the front and back images of your ID card, and then finalize the process by clicking the 'Upload' button.

At this point, you've completed filling out all necessary documents and Coinbase has acknowledged their receipt. However, while verification usually takes place within a few hours, it can sometimes take longer. Rest assured, Coinbase will keep you posted via email regarding any updates on your verification status.

Step #2: Add a payment method

Tap on the payment method box and connect a payment method. You can use a bank account, debit card or initiate a wire.

Step #3: Start a trade

On Coinbase.com, select Buy & Sell. On the Coinbase mobile app, tap the ( + ) Buy on the Home tab.

Step #4: Select Dogecoin from list of assets

On Coinbase.com, click the Buy panel to search and select Dogecoin. On the Coinbase mobile app, search for Dogecoin by typing “Dogecoin” into the search bar. When you see Dogecoin appear in the results, tap it to open up the purchase screen.

Step #5: Enter the amount you want to buy

Use the number pad to input the amount you want to spend in your local currency. The app will automatically convert that into a Dogecoin amount. You can tap the arrow buttons to the right of the amount of money you want to spend to switch the number to the equivalent amount of Dogecoin

Step #6: Finalize your purchase of Dogecoin

Tap “Preview buy” when ready. Youll be shown the details of your purchase. Make sure everything looks good and then confirm your purchase by clicking “Buy now”.

Step #7: Done

Once the order processes, you‘ll be taken to the confirmation screen. That’s it, youve bought Dogecoin.

Alternative Exchanges to Buy Dogecoin (DOGE)

Aside from Coinbase, there are several other trusted cryptocurrency exchanges where you can purchase Dogecoin (DOGE).

1. Binance: As one of the biggest cryptocurrency exchanges globally, Binance offers a wide range of cryptocurrencies for trading, including Dogecoin. It caters to both beginners and advanced traders and offers various trading options.
2. Kraken: Kraken is another well-known cryptocurrency exchange that supports Dogecoin. It is recognized for its security features and transparent fee structure.
3. Gemini: Co-founded by the Winklevoss twins, Gemini is a regulated cryptocurrency exchange based in the US that allows you to buy, sell and store cryptocurrencies, including Dogecoin.

Conclusion

In conclusion, acquiring Dogecoin (DOGE) on Coinbase is a straightforward and user-friendly process that is accessible even to those who are new to cryptocurrency. While Coinbase provides a comprehensive platform for purchasing and managing your DOGE, there are numerous other viable alternatives like Binance, Kraken, and Gemini to broaden your trading experiences. Thank you for your time and attention, and we wish you a seamless experience with Coinbase moving forward.