How to buy dog coins on eToro? Dog coin is a popular meme based cryptocurrency, but it is not a viable long-term investment option. Dog coin does not have any physical asset support, and its market value is too low to become a strong competitor in the cryptocurrency field. Let's learn how to buy dog coins on eToro.
How to buy dog coins on eToro
According to supporters of dog coin, the token will "fly to the moon". If you have not purchased cryptocurrency before, you may not know how to purchase dogcoin. The following steps are about how to purchase dog coins on eToro. It will cover everything you need to know, from how to open an account to how to set up an encrypted wallet to how to buy dog coins.
Step 1: Open an eToro account
To get started, visit eToro's website and click Register. Enter your email, and then select your username and password for your current trading account. On the next page, eToro will ask for your name, phone number, zip code, and birthday. You should complete these questions.
Step 2: Verify
In order to comply with the "know your customer" requirement, eToro requires you to verify your identity. You can complete this step by taking your driver's license or passport and uploading it to the platform. You also need to upload your proof of residence to verify your address. This may be the latest utility bill or bank statement.
Step 3: Deposit funds
EToro requires all current accounts in the United States to deposit at least $10. You can pay with Visa or Mastercard debit or credit cards, PayPal, Neteller, and Skrill. EToro also accepts bank transfers with a minimum deposit of $500. This means that you can buy the best counterfeit currency through a series of payment methods that suit your needs.
Step 4: Set the encrypted wallet
You do not need eToro dog coin wallet to buy dog coin. However, if you want to send or receive cryptocurrencies, it helps to have a cryptocurrency wallet. EToro provides a free encrypted wallet application for iOS and Android. Simply download the app from Google Play or Apple App Store and log in with your eToro username and password.
Step 5: Search for dog coins
Go to your eToro control panel and find the search box at the top of the page. Enter DOGE or Dogecoin, and when Dogecoin appears in the search results, click Transaction. This will open a new order form.
Step 6: Purchase dog coins
Enter the number of USD dog coins you want to purchase. You can choose the stop loss or profit taking price, which is usually used for eToro Dogecoin trading rather than long-term investment. When you are ready, click Open Transaction to complete your dog coin purchase.
Current use of DOGE
As a counterfeit currency used by many users, Doggie Coin's DOGE is now used in many online business transactions. On social media platforms such as Reddit and Twitch, many users are exchanging tangible items for DOGE as a payment method.
EToro dog coin statistics
According to eToro's investor update in the fourth quarter of 2021 (March 2022), Dogecoin is the number one crypto asset on eToro, and is tied with Bitcoin, Ether, Cardano, Ripple, and Shiba Inu. The transaction volume of DOGE accounts for 4% and 2% of all assets under management.
In general, Doggie Coin is the same as other cryptocurrencies. Whether you are an experienced investor or a first-time investor, you should be cautious before investing in cryptocurrencies. The advantage of investing in DOGE is that its value is less than $1 and the risk is lower than that of purchasing other more expensive cryptocurrencies.