Dogecoin is a cryptocurrency featuring a likeness of the ShibaInu dog from the “Doge” Internet meme as its logo. Introduced on 8 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014.
Why should you buy Dogecoins?
Well friends, your first step into owning cryptocurrencies is here. So let us dive right in and find out the best ways to buy dogecoins instantly.
- Buy Directly with Fiat (USD/EUR) via Exchange:
At the moment there is no site that allows you to directly buy Doge with cash. This requires one to buy bitcoin first from sites like Coinbase, Coinmama, Bitpandaetc and then using a service like Changelly or Shapeshift.io to convert your bitcoins into dogecoins.
- Buy from Another Dogecoin Holder with Fiat (USD/EUR):
You can find people selling their dogecoins via forums, social media groups, classified ads sites, crypto specific trading platforms etc which offer an escrow system for ensuring a smooth transfer of funds from buyer to seller.
- Trade On a Cryptocurrency Exchange:
Dogecoin is one of the most popular cryptocurrencies (digital currencies that serve as mediums of exchange) in the cryptosphere and therefore has a decent number of fiat to dogecoin pairs.
You can sign up for an account at any cryptocurrency exchange which offers fiat to dogecoin pairs like Coinbase, CEX,Bittrex etc. and start trading immediately.
- Buy Mining Contracts:
You can actually mine dogecoins instead of buying them outright. This method takes time though depending on your setup but is generally believed to be more profitable than simply buying from anywhere else because there is no fixed supply limit on Dogecoins. If this interests you, it is recommended that you check out cloud mining services like Genesis Mining which lets users buy dogecoin and hash power from the cloud and mine cryptocurrencies on their behalf.