How to Buy Dogecoin on eToro In 2024: Beginner’s Guide

Step-by-Step Guide to Buy Dogecoin on eToro

Step 1 - Create eToro Account

Before buying Dogecoin on eToro, you must create an account first. As a user-friendly platform, eToro makes it simple for you to register and create an account. You need to go to the eToro official website and choose the ‘Join Now’ button.

If you don’t want to dive in directly, and still need to prepare to invest your money, you have the option to open an eToro demo account to practice your trading strategies, understand the platform, and test the copy trading feature. Even for seasoned traders, demo accounts can assist in familiarizing yourself with a new platform.

The eToro demo account provides $100k in virtual money, which you can use  to try out the platform without putting your hard-earned money at risk. Follow the instructions provided to set up a complimentary account, navigate through the virtual portfolio, and learn the process of purchasing Dogecoin on eToro.

Go to the eToro website and select the ‘Join eToro’ or ‘Join Now’ button located on the homepage.

Enter the necessary personal information in the pop-up form, including username, email address, and password.

Familiarize yourself with eToro’s Terms & Conditions and privacy policy before ticking the agreement box if you agree with them.

Click on the ‘Create Account’ button to send in your details.

Input the code sent to your email address in the pop-up box to finish the registration process.

After confirming your email, you will be able to log in to eToro’s dashboard. You have the option to switch between the Real Portfolio and the demo account based on your preference.

Step 2 - Verify Your Identity

In order to utilize the Real account and participate in live market investments with your own funds, you must take additional steps. All investors who are new must complete the Know Your Customer (KYC) process in accordance with regulatory rules.

For this, you need to upload a copy of your identity card and proof of address. You can any utility bill like an electricity bill or bank statement as proof of address.

The platform might take a few days to complete the verification process and activate your account. Verifying your identity on eToro is essential to comply with the KYC and AML guidelines. Without this process, you may not be able to purchase Dogecoin on eToro and cannot access all the features of the platform.

eToro platform ensures the security of your funds and personal information. However, you can employ security measures like 2-factor authentication (2FA) to add another layer of security and ensure that your account is safe. You can enable the 2FA option in the ‘Settings’ section and go ahead to buy Dogecoin safely.

Step 3 - Deposit Funds on Your Account

After creating the account and verifying your identity, the next step is to deposit funds in your eToro account. eToro exchange platform supports different payment methods like bank transfers, and online payment systems like PayPal, credit, and debit cards.

Go to the ‘Deposit Funds’ section on the dashboard and select your preferred payment method and follow the instructions. After selecting the payment method, enter the payment details and confirm the deposit amount.

It is important to consider the payment option based on your convenience and preference. Because each method has its own processing time and fees. To understand the Fee Structure of the platform go to the ‘Fees’ section and find the details.

The majority of transactions are typically completed in a matter of minutes, although the waiting period may differ depending on the payment method service provider.

Step 4 - Search 'DOGE' or 'Dogecoin' in the Search Bar

Now that funds are in your eToro account, you are free to buy the crypto of your choice. This is the process of purchasing Dogecoin on eToro for beginners.

Find the search bar at the top of your eToro account. Type either ‘DOGE’ or ‘Dogecoin’ and select it from the search results by clicking on it.

Opening the coin’s details page will show DOGE’s current price, chart, market analysis, news, and statistics. You can utilize all of this information to make well-informed trading choices.

Step 5 - Buy Dogecoin on eToro

If you are happy with the current market price and other details, select the Trade button located in the upper right-hand corner. You will be prompted to open the order confirmation window in which you can input the quantity of Dogecoin you wish to purchase.

You will also be able to decide on the type of order you want.

Market Order: Completes your trade instantly at the most favorable market price.

Limit Order: This enables you to specify the highest price at which you are willing to buy Dogecoin. The execution of the order will happen only when the market price hits the limit you have set or goes below it.

Every detail of your transaction will be shown, such as the overall cost and any associated fees. Examine the information and select Open Trade to complete the purchase. You are able to observe your Dogecoin assets and monitor your investments through the portfolio tab in your account.

Conclusion

The eToro platform is easy-to-navigate and user-friendly. You can explore various sections on the dashboard like Watchlist, Portfolio, News Feed, and Trade Markets. The platform also allows you to customize your dashboard to display your preferred sections.

Buying Dogecoin on the eToro exchange platform is a simple process. You first need to create and verify your account and then deposit the funds. After selecting payment methods and entering all the details, you can buy Dogecoin on the eToro platform. Hope this guide helps you take your first step in buying DOGE on eToro!

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