If you’re interested in buying Dogecoin, the popular cryptocurrency created as a joke based on the Shiba Inu internet meme, Crypto.com is an excellent platform to get started. This step-by-step guide will take you through the process of purchasing Dogecoin on Crypto.com. I will walk you through the basics of Dogecoin and Crypto.com. Next I will tell you about setting up your account, funding your wallet, purchasing Dogecoin, and managing your investment.
This is part of my series on how to buy Dogecoin
Understanding Dogecoin and Crypto.com
What is Dogecoin?
Dogecoin is a decentralized, peer-to-peer digital currency that was created in 2013 by programmers Billy Markus and Jackson Palmer. Introduced as a fun and light-hearted alternative to Bitcoin, Dogecoin has gained significant popularity among cryptocurrency enthusiasts.
One of the reasons for Dogecoin’s popularity is its community, which is known for its sense of humor and generosity. Dogecoin has been used to raise funds for various charitable causes, including building wells in developing countries and sponsoring Olympic athletes.
Despite its lighthearted origins, Dogecoin has become a serious player in the world of cryptocurrency. Its market capitalization reached an all-time high of over $90 billion in May 2021, making it one of the top 10 cryptocurrencies by market cap.
What is Crypto.com?
Crypto.com is a leading cryptocurrency exchange and payment platform that offers users access to a variety of digital assets, including Dogecoin. Crypto.com was founded in 2016 and is headquartered in Hong Kong, with over 10 million users globally.
In addition to its exchange and payment platform, Crypto.com offers a range of other services, including a crypto debit card. The card allows users to spend their cryptocurrency at millions of merchants worldwide. The company also offers a crypto earn program, which allows users to earn interest on their cryptocurrency holdings.
Crypto.com has been at the forefront of the cryptocurrency industry, pushing for greater adoption and acceptance of digital assets. In 2021, the company became the first cryptocurrency platform to partner with a Formula 1 team, sponsoring the Aston Martin Cognizant Formula One™ Team.
Overall, both Dogecoin and Crypto.com are important players in the world of cryptocurrency. Each bring their own unique strengths and contributions to the industry.
Setting Up Your Crypto.com Account
If you’re interested in investing in cryptocurrencies like Dogecoin, one of the first steps you’ll need to take is setting up an account on a reputable exchange. Crypto.com is a popular choice for many investors, offering a user-friendly mobile app and a wide range of digital assets to choose from.
Downloading the Crypto.com App
The first step to buying Dogecoin on Crypto.com is to download the Crypto.com app on your mobile device. The app is available for both iOS and Android devices. Just navigate to App Store or Google Play Store to download it.
Once you’ve downloaded the app, you’ll be prompted to create an account. This process is quick and easy, and you’ll just need to provide a few basic details to get started.
Creating an Account
To create your Crypto.com account, you’ll need to provide your email address and create a strong, unique password. It’s important to choose a password that you’ll remember, but that’s also difficult for others to guess or hack.
Once you’ve entered your email and password, Crypto.com will send a verification code to your email address. You’ll need to enter this code into the app to confirm your account and start using the platform.
Verifying Your Identity
Before you can buy Dogecoin on Crypto.com, you’ll need to complete the app’s identity verification process. This process involves confirming your personal information, including your name, address, and date of birth.
Verification is an important step in the process, as it helps to prevent fraud and ensure that Crypto.com is complying with relevant regulations. To verify your identity, you’ll need to provide a government-issued ID, such as a passport or driver’s license, and take a selfie to confirm your identity.
Once your identity has been verified, you’ll be able to start buying and selling cryptocurrencies on the Crypto.com platform. You can fund your account using a variety of payment methods, including credit or debit card, bank transfer, or cryptocurrency transfer.
Overall, setting up a Crypto.com account is a straightforward process that can be completed in just a few minutes. By taking the time to verify your identity and secure your account, you can start investing in cryptocurrencies like Dogecoin with confidence.
Funding Your Crypto.com Account
Crypto.com is a popular platform for buying and selling cryptocurrencies like Dogecoin. If you’re new to the platform, you may be wondering how to fund your account. Fortunately, the process is simple and straightforward.
Linking Your Bank Account
The first step is to link your bank account to your Crypto.com account. This is necessary in order to add funds to your wallet. To link your bank account, you’ll need to provide your bank account and routing numbers. Crypto.com will then make a small deposit into your account, which you’ll need to confirm in order to complete the linking process.
It’s worth noting that Crypto.com takes security very seriously, and your bank account information will be kept safe and secure at all times.
Adding Funds to Your Wallet
Once your bank account is linked, you can add funds to your Crypto.com wallet through a bank transfer. This is a simple process that can be done online or through your bank’s mobile app.
Simply enter the amount you wish to add, and the funds will be credited to your wallet within a few days. It’s important to note that the time it takes for funds to appear in your wallet may vary depending on your bank’s processing times.
Once the funds are in your wallet, you can use them to purchase Dogecoin or any other cryptocurrency available on the platform. Crypto.com offers a wide range of cryptocurrencies to choose from, so you’re sure to find something that fits your investment goals.
Overall, funding your Crypto.com account is a simple and secure process that allows you to start investing in cryptocurrencies like Dogecoin with ease.
Purchasing Dogecoin on Crypto.com
Dogecoin has been making headlines in recent months as its value has skyrocketed. If you’re interested in purchasing some Dogecoin for yourself, Crypto.com is a great platform to use. Here’s how to do it:
Finding Dogecoin on the App
First, make sure you have the Crypto.com app downloaded on your device. Once you’re logged in, navigate to the app’s “Crypto” section. Here, you’ll find a list of all the available cryptocurrencies that you can purchase.
Scroll through the list until you find Dogecoin. It should be easy to spot, as it’s currently one of the most popular cryptocurrencies on the market. Once you’ve located it, you’re ready to move on to the next step.
Placing a Buy Order
Now that you’ve found Dogecoin, it’s time to place a buy order. To do this, enter the amount of Dogecoin you wish to purchase. You can use the app’s calculator to determine how much you’ll need to spend to get the desired amount of Dogecoin.
Once you’ve entered the amount, confirm the trade. The DOGE will be added to your wallet instantly. You can then check your balance in the “Wallet” section of the app.
It’s important to note that the price of Dogecoin can fluctuate rapidly. Hence it’s a good idea to keep an eye on the market and make your purchase when the price is right for you.
Setting a Limit Order (Optional)
If you want to ensure that you purchase Dogecoin at a specific price, you can place a limit order instead of a market order. With a limit order, you can set a maximum price that you’re willing to pay for Dogecoin, and the order will only be executed if the price falls within that range.
This can be a useful strategy if you’re trying to buy Dogecoin during a dip in the market, or if you want to make sure you don’t overspend on the cryptocurrency.
Overall, purchasing Dogecoin on Crypto.com is a straightforward process that can be completed in just a few clicks. Whether you’re a seasoned cryptocurrency investor or a newcomer to the world of digital assets, Crypto.com is a great platform to use for buying and selling Dogecoin.
Storing and Managing Your Dogecoin
Dogecoin has become a popular cryptocurrency in recent years, with many investors getting in on the action. However, it’s important to understand how to safely store and manage your Dogecoin, just like any other digital asset.
Understanding Crypto Wallets
A crypto wallet is a digital wallet that enables you to safely store and manage your digital assets. This includes cryptocurrencies like Dogecoin, as well as other digital assets like tokens and NFTs. Crypto wallets come in many different forms, including hardware wallets, software wallets, and online wallets.
Hardware wallets are physical devices that you can plug into your computer or mobile device. They offer the highest level of security, as they are not connected to the internet when not in use. Software wallets are programs that you can download onto your computer or mobile device. They offer a good balance of security and convenience. Online wallets are web-based wallets that you can access through a browser. They are the most convenient option, but also the most vulnerable to hacking.
Crypto.com offers its own wallet, but many users prefer to use a third-party wallet, such as Exodus or Ledger. It’s important to do your research and choose a wallet that meets your needs in terms of security, convenience, and compatibility with your device.
Transferring Dogecoin to a Wallet
To transfer your Dogecoin to a crypto wallet, you’ll need to navigate to the app’s “Wallet” section and select “Withdraw.” From there, you can enter the amount of Dogecoin you wish to transfer and the address of your crypto wallet. It’s important to double-check the address to ensure that you are sending your Dogecoin to the correct wallet. Crypto.com will charge a small fee for the transaction, which will be deducted from your wallet balance.
Once your Dogecoin is in your crypto wallet, you can rest assured that it is safe and secure. You can also use your crypto wallet to send and receive Dogecoin, as well as other cryptocurrencies and digital assets.
Tracking Your Dogecoin Investment
Finally, it’s important to stay informed about the value of your Dogecoin investment. Cryptocurrencies are notoriously volatile, with prices fluctuating rapidly and unpredictably. You can track your investment using the Crypto.com app or other third-party apps, such as Blockfolio or CoinMarketCap. By monitoring the value of your investment, you can make informed decisions about buying and selling Dogecoin in the future.
It’s also important to stay up-to-date on news and developments in the world of cryptocurrency. Dogecoin has gained a lot of attention in recent months, with high-profile endorsements from celebrities like Elon Musk. However, it’s important to remember that the cryptocurrency market is still relatively new and unregulated, and there is a lot of uncertainty and risk involved.
Overall, storing and managing your Dogecoin requires a combination of knowledge, caution, and vigilance. By taking the time to understand how crypto wallets work, transferring your Dogecoin to a secure wallet, and tracking your investment, you can enjoy the benefits of this exciting new asset class with confidence and peace of mind.
Alternatives to buying DOGE on Crypto.com
Hey, if crypto.com seems too complicated then check out my article on the best places to buy Doge for other alternatives