How To Buy Dogecoin In Australia: Complete Guide 2022
Are you also wondering about how to buy Dogecoin in Australia? Dogecoin is one of the most popular altcoins in the crypto industry that can be bought and sold easily on many cryptocurrency exchanges and lending platforms worldwide.
Catching hype on social media, Dogecoin is now a choice of every individual trader. Buying Dogecoin in Australia is a simple task that can be performed by investors regardless of their trading experience.
Rampant trading of Dogecoin depicts its high chances of stability in the future crypto market. The trading platforms below are backed by research then after we have brought them to you to guide you on how to buy Dogecoin in Australia. So without further ado, let’s get started with the article.
Contents
How to Buy Dogecoin In Australia – Quick Guide
You do not have to go through the hurdles to buy Dogecoin. It involves just a few steps.
Let’s take Binance for the sake of simplicity. Binance, being one of the simplest crypto exchanges, offers an easy and user-friendly interface for buying, selling, and holding Dogecoin.
◾ Your first step to buying Dogecoin is signing up on Binance with your phone number or Email address.
◾ Once you have created your account, Binance allows you to buy Dogecoin via bank transfer and through the Debit / Credit cards directly. Binance accepts Visa and MasterCards for deposits.
◾ You are asked to buy stable coins if you are depositing money via a bank transfer. Then after you can turn your stable coins into Dogecoin.
Where to Buy Dogecoin in Australia
How wonderful it is that you are wondering to find any such platform where you can buy your coin safely and comfortably. No worries, here in this guide we will discuss the step-by-step procedures for buying Dogecoin in Australia. Several other platforms are offering the same service. But, some of the easiest and safest platforms for you are as follows.
Buying Dogecoin on Swyftx Exchange
When it comes to knowing how to buy Dogecoin in Australia, Swyftx is a well-trusted exchange. Buying Dogecoin and so many other cryptocurrencies on Swyftx can be a safe and profitable choice of yours.
It includes a few simple steps to go. How safe is Swyftx? Swyftx asks for the two-factor authentication and biometrics for login.
For starting a trade on dogecoin or any other asset on swyftx you first need to sign up with your phone number and en email address followed by the verification of them. Deposit AUD in your account, select the dogecoin to buy, and click ‘Buy Doge’.
Buying Dogecoin on eToro Exchange
eToro, Australia’s one of the leading investment platforms offers its users investments in stocks, crypto, and other assets at 0% commission. Etoro can be the safest choice in terms of reliability and ease.
Like many other digital assets, you can buy, sell and store dogecoin in the safe hands of eToro.
For getting the benefits of 0% commission and fractional shares on eToro, you need to create an account, verify your details and make a feasible deposit from your bank account or via the deposit and Credit cards.
You can use PayPal for making deposits into your account. Knowing how to buy Dogecoin on eToro can make your transactions easy and smooth across the domain of meme coins.
Buying Dogecoin on Binance Exchange
Binance is still the first choice of novice and advanced traders and knowing how to buy Dogecoin Australia from Binance can be critical for Dogecoin traders. Its simple and hustle-free interface amasses people on it from across the countries.
Binance offers the lowest trading fee to its users in the crypto world. Along with the dogecoin you can buy, sell, store and hold 600+ other digital assets on a single platform.
Like many other exchanges, Binance also needs an account to be opened first for buying Dogecoin and other assets followed by the deposition of the minimal amount from your bank account or through the Visa and MasterCard.
Ways of Buying Dogecoin In Australia
Like Bitcoin, Ethereum, and many other digital assets you can buy Dogecoin also by depositing an affordable amount either directly from your banks or e-payment cards. Here you will know how to buy Dogecoin in Australia with different payment methods.
Buy Dogecoin With Paypal
Using your PayPal account for buying Dogecoin brings you more benefits and safety. It provides seamless deposits and withdrawals instantly. As not all the exchanges support transactions via PayPal account some platforms support it.
Etoro and Binance are among those platforms that allow their users to deposit with PayPal.
Binance charges a low trading fee of about 0.1% and free deposits, so it becomes easy for the users to buy highly reputed and volatile dogecoin from such platforms.
Etoro and swyftx on the other hand come with low fees and spreads allowing users to trade comfortably.
Buy Dogecoin With A Credit Card/Debit Card
As you have opened an account there on any of the above exchanges, now you can Buy dogecoin. For this, you can pay either by entering your bank account details or through Visa and MasterCards. Platforms like Binance do not allow you to buy Dogecoin directly from your Bank accounts but via Debit and Credit cards.
On eToro, you can buy with a little amount of $200 using your debit/credit cards.
On swyftx deduction from your cards can also happen but it may take up to 30 minutes most often.
Dogecoin Price Prediction
As you are aware of the volatility of cryptocurrency, how frequently and abruptly the price of any asset falls and rises. Cryptocurrency is solely dependent upon market requirements.
As the demand increases the price of an asset increases and vice-versa. Dogecoin is a coin based on a meme that caught hype on social media when Elon Musk announced buying it. Though, the price of any digital asset can not be estimated because of the volatility in its nature.
Recently, the Dogecoin price in AUD is 0.19 AUD, which can be expected to rise to $1 in 2-3 years.
Benefits of Buying Dogecoin?
Dogecoin is an alternative to some other well-known Cryptocurrency coins such as Bitcoin and Ethereum. Dogecoin is replicable with Bitcoin because Bitcoin consumes much transaction time and power that is harmful to the ecosystem.
Whereas, Dogecoin is backed by Litecoin which consumes much less energy than Bitcoin and other heavy coins.
There are some key reasons on behalf of those it is expected that Dogecoin will rise in the market. It started as a meme but it grew to the least expected price of $0.75 within a short period of a few months in the past.
Hence, knowing how to buy Dogecoin in Australia can fetch you great results in the long run.
Risks of Buying Dogecoin?
Along with its some notable beneficial features, there are some risks involved too. You need to know everything when you decide to invest your hard-earned money in Dogecoin.
Because there are chances that you may end up losing money. As there are many thefts noted from the dogecoin wallet in the past, it might happen that you also lose your money if you had not chosen the right broker.
The price rise of dogecoin is mostly dependent on social media as it has been since its birth. This means if social media stops sharing memes on dogecoin and take the support back, it will fall abruptly. Thus knowing the different aspects of your assets before investing could be the best thing you can do.
The Procedure For Buying Dogecoin On Binance
We will make it easy for you to buy bitcoin from any platform that suits you. Because the procedure of buying tokens on all the platforms is the same, we will use Binance as an example.
Binance is one of the most operating platforms in the world and Australia because of the availability of the abundance of coins.
Buying Dogecoin on Binance
Before arriving on any platform you must have a clear vision of what you have intended to buy. Binance is an easy and ready-to-go platform that reduces hustle before taking any further action. Steps ahead will teach you how to buy Dogecoin in Australia using Binance.
Create And Verify The Binance Account
Binance is a trustworthy platform where you can trade and hold your assets safely. If you are a beginner in trading or on Binance and have not created an account, first you need to sign up to Binance with your phone number and email address. Binance will ask you to verify your number and email address, after verification checkout for another step.
Fund Your Account
And now when you have created and verified your account, it is time for the next step.Now, in the market section search for Dogecoin, select the dogecoin out of the list provided of cryptocurrencies.
Check the amount with which you are asked to fund your account. Select suitable payment options. Payment options are Bank transfers, deposits via debit/credit cards, and PayPal.
Buy Dogecoin
This is the last step to completing the purchase. You have selected the purchase method. Now you are just a click away to buy Dogecoin. Hit the buy button and complete the transaction.
After the transaction is complete you can now either push your coin for trading on the same platform or you can lend them for earning interest passively.
Best Wallet To Keep Your Dogecoins
To store your Dogecoin a trustable, secure, and protected wallet is essential. Crypto trading is a risky task and if some immoral elements add to it, the trading leads you towards bankruptcy.
Digital assets being on Blockchain that are highly protected, shielded, and secure source is not safe. Keeping in mind the protection of your assets you must grab a wallet that assures you completely the protection.
And such wallets are cold wallets. Which we call offline wallets also. And if you are concerned about the protection of your dogecoin. Then here is the solution to your worry.
Ledger Nano X Hardware Wallet
If you are the one who is much concerned about the security features of wallets. Ledger Nano X is the wallet for you. Ledger Nano X is the hardware wallet and stores all your dogecoins offline away from the hot wallets.
Hot wallets or software wallets that are not trustworthy and safe. You can safely put multiple currencies in Ledger Nano X along with dogecoin.
Let’s now understand some of its safety features.
Safety
As we have seen it is a cold wallet and stores all your currencies offline so no bad hands of hackers reach it. Your private keys are stored in an offline chip which is certified by common criteria (CC). Ledger Nano X wallet uses a Blockchain operating system called blockChain Open ledger operating system that makes it more reliable and trustworthy. The Ledger Nano X is enabled by Bluetooth and supports up to 100 crypto apps.
Price
When security is the priority then you may forget the price of the lock. Ledger Nano X is also an expensive but reliable and secure wallet based on blockchain technology. This hardware material varies in price. As of now, it costs around $199 AUD. But, buying it will be a profitable choice because it keeps all your assets safe and secure. You can withdraw assets at any time without the hackers knowing.
How to Sell Dogecoin
After buying Dogecoin you can either push your coin to trade or stake it for some passive income on Binance. Binance charges very low trading and withdrawing fee allowing you to withdraw and trade your assets at any time.
On Binance to establish a sale of your Doge or any other digital assets you need to place an order for it on P2P then it will excrowd your asset. After placing an order you will now receive the payment from the buyer on P2P for your Doge or altcoins.
Once you confirm the transaction has occurred between you and the buyer, you can release your crypto. This is how easily your doge can be converted to AUD.
How to Buy Dogecoin in Australia: Final Thoughts
We hope this guide will help you in buying Dogecoin on any of your chosen platforms. In this How to Buy Dogecoin in Australia article, we have tried to cover every single point and grant you a complete road map for buying Doge in Australia.
On Binance it has become considerably easier to buy any coin or Doge than in other crypto Exchanges. Binance is a beginner-friendly and easy-to-use interface not only for new traders but also for the pro trader.
You are just asked to create an account there, deposit your funds and buy. And you can sell your Doge any time you want to on Binance P2P. We hope that this guide will help you with all the information that you need to start trading in Dogecoin in Australia.
Choosing the right exchange for your trading could be the difference between a good and bad portfolio and this article will assist you in making an informed decision.
