You have probably heard of Dogecoin, also known as DOGE – the cryptocurrency based on an older meme that has seen a resurgence in recent years. With so many people talking about Dogecoin, it might seem like a good idea to get into it – but how?
If you are new to cryptocurrency and want to dip your toes into Dogecoin, then here are some ways to start.
Get Paid in Dogecoin
The easiest way to get any kind of crypto is to have somebody pay you in it. If you have a business or a hobby that occasionally makes money, some people may offer to pay in crypto, especially if you have already set yourself up with the ability to receive it.
This is not a reliable way to earn any kind of crypto, but it is a good way to passively collect some from a side business. Most of the time, though, you will have to earn it yourself, whether that is through simply buying the coins or trading for them with something else.
There is always a chance that you will simply be given some Dogecoin. If you have crypto-loving friends, who are already established in their own corners of the market, mentioning that you are getting into cryptocurrency might land you with a few coins to get you started.
A cryptocurrency exchange is any platform that allows crypto to be bought, sold, and traded. These are the heart of any cryptocurrency transactions since they are the places that most people will get their first coins. They are also the main place to earn a profit with crypto if you are trading it.
Keep in mind that there are a lot of exchanges, and not all of them will support all major cryptocurrencies. Some will provide you with a digital wallet, and others will not, so you should do your research beforehand and choose a platform that you think you will like.
If you want to get Dogecoin, then you can simply use a crypto exchange to buy Dogecoin directly for your national currency. The exchange rates will depend on the value of a single Dogecoin relative to the value of the currency you use, and this can fluctuate on a daily or even hourly basis.
Usually, the simplest way to get Dogecoin without waiting for a random payment is to dip your toes into the water with the exchange. A few coins could cost you less than $10 to $20 depending on which one you are buying, and you are free to re-sell them at any time (ideally for a profit).
Trade Other Crypto
If you have other cryptocurrencies already, then you can also trade crypto types to get DOGE instead. Crypto exchanges make this very easy. However, exchange rates also matter here as well – a single coin of one cryptocurrency may only be worth half a Dogecoin, or the other way around.
Remember that prices can fluctuate, so it is often best to wait for a good dip that is likely to be followed by a spike in value. Even if you do not plan to trade and just want to spend your DOGE somewhere, it is still a good idea to buy low and spend high since this maximizes your money.