A Detailed Guide on How to Buy Dogecoin in the UK
Our best choice:
There is a range of cryptocurrencies that can be beneficial in terms of investment opportunities. You can buy crypto coins and then sell them once their price reaches the desired level. It is possible to buy Dogecoin in the UK if you live in this country and believe that this cryptocurrency is a good option for investment. In this article, you will find detailed information on Dogecoin, the best exchanges to choose to buy it, suitable wallets to store this crypto coin, and more.
Why Should You Buy Dogecoin in the UK?
Dogecoin was created in 2013 by the developers Jackson Palmer and Billy Markus. It runs on blockchain technology. The crypto coin quickly became popular, and one of the reasons for that is its hilarious logo with a dog. By 2021, its value has increased by 5,000%. This is a favorite crypto coin for Elon Musk, which surely contributes to its popularity. Lots of people want to buy Dogecoin in the UK and other countries because they consider it a good option for investment. You can follow breaking news to catch the right money for making a profit or use the scalping technique to get many small profits due to quick changes in prices. This crypto coin can be used for payments in a range of online or physical stores.As for the question on how to buy Dogecoin, this is possible to do online or in-person, but the procedure depends on the service provider you use.
How to Buy Dogecoin if You Live in the UK
If you wish to buy Dogecoin, you need to pick the right exchange that perfectly matches your preferences. You have two options:
- Register and undergo the verification procedure to use a preferred payment method
- Use an instant payment method that allows making a transaction immediately
Where Can You Buy Dogecoin with GPB?
If you have some GPB, you can use them for buying Dogecoin. The very first step you will need to take is to find a reliable exchange. The following are the factors you should take into account when choosing one:
Buying Dogecoin at Binance
It is one of the most popular choices for those who wish to purchase Dogecoin and other cryptocurrencies. This platform provides users with tough security measures and low fees.
Here is how to buy Dogecoin in the UK on the Binance platform:
The platform offers a quick registration procedure. Simply fill out the necessary fields in the sign-up form.
Undergo the verification procedure
Send required documents, such as a scan of your ID, and wait for this information to be checked.
Deposing some funds
Pick a preferred payment option and add some funds to your account.
Select this cryptocurrency from the list of options, specify the amount of your purchase, and complete the transaction. There is also a video on how to buy Dogecoin with a credit/debit card on the official site of this platform. You can watch it if you wish to use this payment method.
Buying Dogecoin at Changelly
It is a trustworthy and secure exchange platform. Currently, people can trade more than 100 different cryptocurrencies at Changelly, and new altcoins are added to the platform regularly. This exchange offers users to enjoy a great trading experience.
This is how to buy Dogecoin on this platform:
Choose the crypto pair for exchange
There is an online form, in which, you will indicate what assets you wish to exchange. Check whether you are fine with the rate and proceed.
Confirm your transaction
Once you confirm your transaction, you will need to sign in/sign up to your account using just your email address. This will allow saving the transaction history.
Complete the transaction
Now, you need to send the needed amount to the address provided and get the crypto in your wallet within a few minutes. All in all, it will not take you a long time to make such a transaction with Dogecoin.
Buying Dogecoin at ShapeShift
ShapeShift has a simple interface, which makes it a good choice for beginners. It is a very quick and easy-to-use platform since customers are not required to undergo KYC or pay any commission.
You will be able to exchange assets on this platform quickly and simply:
Register and log in to your account
The registration procedure is quick and easy, and you will undergo it within a few minutes.
Choose assets for trades
You need to pick which assets you wish to exchange. For instance, you can exchange Bitcoin for Dogecoin.
Enter the details of your wallets
In the relevant fields, you will need to enter the address of your wallets. The first one is the wallet from which crypto will be taken, and the second one is the address to which cryptocurrency will be received.
Buying Dogecoin at Bittrex
Bittrex is one of the oldest crypto platforms that have been around since 2014. It allows trading various assets and many crypto pairs. It comes with an instant buy/sell option, which is very convenient for many users. Bittrex offers tough protection for personal information and funds.
Although there is an instant sell/buy option, it is available for users who have undergone the verification procedure.Here is how to buy Dogecoin on this platform:
You will start your trading experience by clicking on the Sign Up button and filling out a brief registration form.
Filling out your profile
After you log in to your account, you will need to add more information to your profile.
Now, you will need to prove your identity. This can be done by submitting the scan of your ID.
Providing additional info
You may also need to add some more information on the platform.
Now, you can make a transaction by choosing the asset you wish to buy and the payment method.
Buying Dogecoin at Cryptomate
Cryptomate has been launched to allow customers to enjoy quick, easy, and secure cryptocurrency transactions. Its services are available for British residents who have access to online banking. Usually, orders are executed within 15 minutes.
There is the instruction on buying Dogecoin from the Cryptomate platform:
Choose your cryptocurrency
There are various cryptocurrencies you can purchase on the Cryptomate website. If you wish to purchase Dogecoin, you need to pick it from the list of options.
Get a wallet address
You need to choose a wallet you wish and get its address.
Place your first order
You will specify how many Dogecoins you wish to buy. This crypto coin will be bought using the money you have in your account.
Buying Dogecoin with a Credit Card
Today, more and more platforms allow users to buy Dogecoin with a credit card. Another convenient method that can be used is a bank transfer. One of the reasons why many people prefer using those two options is that such transactions can be conducted instantly. This means users are not required to register on the platform first. Also, they do not need to undergo the verification procedure to complete the transaction. The thing is that it will be easy to identify the buyer if it is needed.
Where Is It Possible to Store Your Coins after Buying Dogecoin
Where are you going to store your coins after you buy Dogecoin with GPB? It is possible to do that right in your account on the exchange of your choice, or you can transfer them to a separate wallet. There are several options you can consider in this case. If your priority is top security, choosing a hardware wallet would be a good choice. If you want to get access to your funds quickly, consider opting for web-based, mobile, or desktop wallets.
Here are a few wallets you can use after buying Dogecoin:
- Ledger Nano S. It is the most popular hardware wallet on the market. The device is small; so, you can carry it with you without any problems. It is a good option for those looking for a well-protected way to store their cryptocurrencies.
- KeepKey. It is also a good hardware wallet. KeepKey is a nicely designed device that comes at an affordable price.
- Jaxx. This wallet can be run on PCs and mobile devices. It comes with decent security features, and it is very easy to use. This option is suitable for storing over 90 cryptocurrencies.
- Coinomi. This mobile wallet allows storing more than 500 crypto coins. It first appeared in 2014, and since then, its popularity has been growing. This wallet is a great option for those interested in a high level of privacy.
- Dogecoin Core. It is an official wallet that has been specially designed for storing Dogecoin. It can be used on both PCs and mobile devices.
Legal Purposes for Buying Dogecoin
One of the reasons why crypto coins like Dogecoin are used for payments is anonymity. This advantage is interesting for many people who wish to use this digital asset for legal purposes. However, those who aim at spending money for unlawful purposes also appreciate this benefit. While the cryptocurrency market is decentralized, local governments can do a range of actions to ensure the legal use of digital money. For instance, if you buy Dogecoin in the UK, you are required to undergo the verification procedure. It is associated with providing necessary documents that can prove your identity, address, and some other details.
Also, exchanges offering transactions with crypto money must be properly registered. In some cases, it is enough to obtain an e-license to provide such services. The Financial Conduct Authority (FCA) is the body that registers such exchanges and makes sure transactions are made legally. You cannot buy Dogecoin in the UK for a range of purposes, including the following:
- Money laundering
- Terrorism financing