Invest In Dogecoin UK – How To Invest In Dogecoin For Beginners
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
There is a lot of hype surrounding Dogecoin in the UK, thanks to various celebrity endorsements and subsequently – its huge rise in value. If you want to access this speculative digital token, it’s important to do so with a reputable platform behind you.
Today we explain how to invest in Dogecoin in the UK – which includes full reviews of the best brokers to access the market alongside a detailed step-by-step walkthrough of how to complete your purchase in under five minutes.
Table of Contents
#1 Broker to Invest in Dogecoin UK – eToro
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Mobile AppYes
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Mobile AppYes
How To Invest in Dogecoin UK – Choose a Broker
See below a sneak peek at the best places to invest in Dogecoin in the UK:
- eToro – Overall Best Place to Invest in Dogecoin UK
- Capital.com – Trade Dogecoin CFDs with a Trusted Broker
- Alvexo – Invest in DOGE CFDs with a Regulated Broker
- Coinbase – Great Way to Invest in Dogecoin for Beginners
- OKEx – Quality Low-Cost Dogecoin Trading Platform UK
- Binance – Top-Rated Dogecoin Platform UK for Experienced Traders
You will find a review of the above-listed platforms further down in this guide on how to invest in Dogecoin UK.
How to Invest in Dogecoin UK – A Quick Guide For 2022
We offer a more detailed guide on how to invest in Dogecoin in the UK later. Nevertheless, below you will see a quick run-through that will see you complete your DOGE investment in just four simple steps.
- Step 1: Open an Account with eToro – Once you arrive on eToro’s homepage, you can easily sign up by clicking ‘Join Now’. Next, enter your full name, home address, national insurance number, mobile number, and a unique username and password.
- Step 2: Upload Your ID – Before you can request a withdrawal or make a large deposit ($2,250, which is around £1,625) you need to complete the KYC procedure. The same goes for any regulated broker, as they must adhere to AML laws. For this, send a copy of your photo ID – such as a passport, and a recent bank statement so that eToro is able to validate your address.
- Step 3: Deposit Funds – When making a deposit to invest in Dogecoin, you will pay a small fee of 0.5% to swap GBP to USD. There are various payment methods accepted to fund your account. This includes credit and debit cards and bank transfers. You may also choose e-wallets such as Skrill or PayPal.
- Step 4: Invest in Dogecoin UK – The eToro website is designed for both newbies and seasoned traders alike, so you should find locating DOGE tokens a breeze. The easiest way to find any asset is to use the search box. Once found, hit ‘Trade’ and you can place a buy order to invest in Dogecoin UK. Hit ‘Open Trade’ when you are happy to complete your purchase. This broker allows orders as low as $25, so beginners can take a slow and steady approach to this volatile marketplace.
eToro supports fractional purchases, which is why the minimum order amount starts from just $25. Furthermore, the platform is beginner-friendly, offers low fees, and will store your DOGE tokens at no extra charge. You will find a full review of what eToro has to offer next.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Where to Buy Dogecoin in the UK – Full Broker Reviews
Once you’re comfortable with how to invest in Dogecoin UK, you will need to find a suitable platform from which to buy it. As such, in the sections below, we have reviewed the very best Dogecoin brokers in the cryptocurrency space. This covers a wide scope of aspects, including everything from fees and listed markets to features and regulatory standing.
1. eToro – Overall Best Place to Invest in Dogecoin UK
eToro serves millions of clients from over 100+ countries. The platform is easy to get around, so placing orders is a breeze. When signing up with this broker, you will need to complete the KYC process, which involves sending in two forms of documentation to prove your identity and address. We found that this takes a matter of minutes from start to finish. Another added convenience is the ability to add funds to your account with a variety of UK payment types. This includes credit and debit cards by Visa and Mastercard, e-wallets such as PayPal and Neteller, and also bank transfers.
In terms of fees, there is a small exchange charge of 0.5% on your deposit. This is because the platform operates in US dollars. Compared with other Dogecoin brokers we reviewed, this is very competitive. Additionally, it saves you from swapping GBP to USD yourself via a third party. This provider keeps costs low as you will only pay the spread to buy and sell Dogecoin and many other assets. This starts from just 0.75% per slide. If you would prefer to begin your cryptocurrency adventures cautiously, you can invest in Dogecoin in the UK for as little as $25 each time.
We mentioned the need to complete the KYC process. This is industry-standard for any regulated brokerage. eToro is approved and regulated by the FCA in the UK, and also ASIC (Australia) and CySEC (Cyprus). As such, you know the provider is legitimate and follows the rules and standards laid out by the aforementioned regulatory bodies. Should you wish to diversify later, you will find a wide range of other cryptocurrencies too. This is inclusive of major tokens like Bitcoin, Ethereum, Ripple, Litecoin, and more. More recent additions include Enjin, Aave, Spark, Basic Attention, and Shiba Inu – to name a few.
Ever thought about the prospect of buying your digital investments passively? If so, one of the most popular features offered by eToro is Copy Trading. As the name suggests, this entails investing in a pro trader and copying them like-for-like, order-by-order. For instance, let’s say you allocate $1,000 to JoeCrypto123 and they risk 20% of their available equity on Dogecoin and 10% on Stellar. Your portfolio will show $200 dedicated to DOGE and $100 in XLM tokens. When they sell, this will be reflected in your own account. Finally, the minimum deposit is just $200 at eToro, which is around £145.
Pros
- Invest in cryptocurrencies on a spread-only basis
- Buy thousands of UK and international stocks at 0% commission
- Minimum investment per trade from just $25
- Supports debit/credit cards, e-wallets, and local bank transfers
- Regulated by the FCA, CySEC, and ASIC
- Used by over 20 million people
- Perfect for beginners
- Social and copy trading tools
Cons
- Perhaps too basic for technical traders
- No support for MT4 or MT5
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
2. Capital.com – Trade Dogecoin CFDs with a Trusted Broker
Are you looking for a reliable and trustworthy broker that offers CFD trading and spread betting? If so, Capital.com is an excellent choice for you.
Capital.com is a leading broker with thousands of assets available to trade at 0% commission.
Capital.com gives you the power to trade CFDs on shares, indices, commodities, currencies, and cryptocurrencies.
With Capital.com’s user-friendly platform and competitive variable spreads, you can trade confidently, knowing that your investments are in good hands.
Capital.com is excited to offer its customers the ability to trade major cryptocurrencies like DOGE against various fiat currencies on its platform.
Furthermore, you can trade various crypto-cross pairs on Capital.com, making it easy to find a suitable investment for you.
And with Capital.com, you can take advantage of the emerging cryptocurrency market with the security and peace of mind that comes with trading with a regulated broker.
In addition, Capital.com’s customer support team is available 24/7 to help you with any questions or concerns you may have.
So whether you’re a seasoned trader or just starting out, Capital.com is an excellent platform for you. So get started today and open up a world of possibilities with Capital.com.
Pros
- 0% commission on all markets
- Tight spreads
- $20 minimum deposit on debit/credit card and e-wallet payments
- Heavily regulated
- Thousands of listed markets – from stocks and indices to forex and crypto
- Leverage offered on all markets
- MT4 supported
Cons
- $250 minimum if opting for a bank wire
- The main trading suite is a bit basic
- Unable to invest in traditional assets – derivatives only
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.25% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.
3. Alvexo – Invest in DOGE CFDs with a Regulated Broker
Alvexo is one of the best DOGE brokers for experienced and professional traders who demand low spreads and excellent customer service.
Alvexo’s Classic accounts offer spreads as low as 2.9 pips, while their Gold account holders enjoy spreads of just 2.2 pips! With Alvexo, you can trade with confidence knowing that you’re getting the best possible deal.
Looking to trade CFDs on a range of assets? Look no further than Alvexo. Alvexo offers CFDs on cryptocurrencies, stocks, indices, and commodities – so you can profit from movements in global markets.
Alvexo is committed to the highest standards of financial integrity and safety. Their product, service offerings are all carefully thought out by experts in their field who have been able to achieve success because they follow regulations set forth by Cyprus Securities Commission (CySEC).
Alvexo is a low-fee online trading brokerage that offers excellent opportunities for long-term savings. With no withdrawal or deposit fees, you can keep more of your money in your account.
However, a small monthly inactivity fee of $10 applies after three months of no trading or transactions. So if you’re looking for a hassle-free way to save, Alvexo is the perfect solution!
Alvexo’s platform is easy to use and they offer dedicated customer support for your convenience. Plus, their competitive spreads give you the edge over the competition. So why wait? Sign up today and start trading with Alvexo!
Pros
- Low fees
- Easy to use and understand
- Simplify the process of exchanging many different crypto assets
- Trade in a safe way
- Earn rewards on staked assets
Cons
- Fees are prohibitively high for novices who use the Instant Buy platform
- Customer service is limited
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
4. Coinbase – Best Way to Invest in Dogecoin for Beginners
Coinbase offers a user-friendly experience for beginners and has approximately 73 million verified users from around the world. The website is simple to navigate – so you can invest in Dogecoin in the UK with ease. Importantly, you can fund your account with fiat money here, but note you must upload the aforementioned documents to complete the KYC process. Accepted payment methods include Visa and Mastercard. However, you will be charged 3.99% to buy DOGE tokens using a debit card. This is quite the contrast compared with the 0.5% stipulated by eToro.
You may also opt to avoid this cost by making a deposit using a UK bank transfer, but you should note that this will delay your ability to invest in Dogecoin by a few days. We checked out other applicable fees and found a standard commission of 1.49% – which means a $1,000 investment would set you back $14.90. As such, it has to be said, this platform isn’t the cheapest place to access the cryptocurrency markets. On the other hand, there isn’t a lack of market variety. Alternative digital currencies comprise well-known tokens such as Bitcoin, Ethereum, Cardano, Binance Coin. Smaller offerings include Pofi, Daily, Alias, and more.
Coinbase stores 98% of all digital assets in geographically separated and encrypted cold wallets. For further peace of mind, you can set up two-factor authentication. This requires a one-time password via Google Authenticator or Duo. It’s also recommended by the provider to secure your email, reset your passphrase frequently, and protect your cloud storage accounts with 2FA too. If you want the convenience of managing your portfolio and investing in Dogecoin on the move, you can download the Coinbase mobile app for free.
Coinbase is an easy-to-use cryptocurrency exchange for buying and selling digital currencies. Beginners will appreciate its simple, user-friendly design, while more advanced users can take advantage of Coinbase Pro’s unique features and order types. Any Coinbase user can switch to Coinbase Pro for a more comprehensive trading experience. With low fees and advanced functionality, Coinbase Pro is perfect for serious traders.
Pros
- One of the most popular cryptocurrency exchanges
- Approximately 73 million users
- Supports instant debit card purchases
- Dozens of digital currencies to choose from
- Institutional-grade security practices
Cons
- Debit card deposits are expensive at 3.99%
- You will pay a standard trading commission of 1.49%
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
5. OKEx – Quality Low-Cost Dogecoin Exchange
If you are looking to invest in Dogecoin in the UK whilst also having access to hundreds of cryptocurrency pairs – look no further. This platform has over 400 pairs to choose from, inclusive of large-cap options such as Bitcoin, Ethereum, Litecoin, Cardano, and Polkadot, to name a few. At the other end of the scale, you will find tokens like Echoin, Swerve, NDN Link, Convergence, and more. The standard commission charged is 0.10% of your order value. Notably, OKEx rewards high-volume investors with a lower fee. You might also look to purchase some of the provider’s native OKB tokens, which will reduce this commission rate even more.
To get started, you need to link your account to a valid UK mobile number and bank account, as well as completing the KYC process. You may fund your account using a UK debit or credit card, bank transfer, or using some digital assets you already hold. In the case of the latter, there is no need to validate your identity with documentation. On the main platform, newbies will find the ‘Learn’ section useful – as it features various beginner tutorials on almost every aspect of the cryptocurrency sector. This includes industry analysis, trading ideas, and glossaries.
Are you looking to invest, swap, and access your account on the go? If so, OKEx offers a free mobile application available for both iPhone and Android users. This interface caters to both advanced investors as well as newbies. The application allows you to view the gains and losses of your portfolio’s performance over a set time chosen by you. Securing your account with 2FA is mandatory here. Furthermore, this platform provides industry-leading security tools such as anti-phishing codes, and a one-time password feature using Google Authenticator, and mobile verification.
Pros
- Trusted crypto exchange with over 20 million users
- More than 400+ digital currency pairs
- Buy and sell cryptocurrencies with a debit/credit card or bank transfer
- Low commissions that start from 0.1%
- Fully-fledged mobile app on Android and iOS
- Great reputation and highly secure
Cons
- Debit/credit card fees could be more competitive
- Derivative products too complex for beginners
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
6. Binance – Top-Rated Dogecoin Platform UK for Experienced Traders
Binance is the biggest crypto exchange in the world in terms of trading volume. This is one of the best places to invest in Dogecoin for people with a little more experience. The first thing to mention is that this platform allows you to buy DOGE tokens with a credit or debit card and accepts a long list of fiat currencies. The provider stipulates a charge of 1.8% for this payment type, which is less pricey than Coinbase but not as cheap as eToro. Notably, at this time, bank account deposits/withdrawals are temporarily suspended for UK clients.
You will pay commission here to buy and sell crypto – which stands at 0.10%. If opting for a credit/debit card over a crypto deposit, you will not be able to withdraw an amount over 0.06 BTC before completing the KYC process. As such, you may as well finish the verification procedure when signing up. Other digital assets to invest in comprise Bitcoin, Ethereum, Cardano, Aave, Enjin, Polygon, Terra, Chainlink, Solana, Zcash, and many more. For those of you who want to store your own assets, you can check out Trust Wallet – which is backed by Binance. This free app allows you to transfer tokens between the main account and your mobile.
This guide found plenty of features to aid you in predicting the best time to invest in Dogecoin, or indeed when it might be a good time to cash out your investment. Trading tools include TradingView compatibility, order books, popular indicators, adaptable price charts, and various timeframes. You can also easily limit the wallet addresses on your safe list by utilizing Withdrawal Address Management. This offers you and your assets extra protection against unauthorized access to your account. You can also use the aforementioned 2FA.
Find the best crypto trading platforms in the UK to fit your needs right here. With hundreds of markets to choose from, we make it easy for you to find what you’re looking for – all from the comfort of your home.
Pro
- Facilitates billions of dollars in daily trading volume
- Supports hundreds of digital asset pairs
- Deposits via UK debit/credit cards
- Trading commission starts at just 0.1% per slide
- Offers crypto savings accounts
- Ideal for both beginners and experienced traders alike
Cons
- Not all supported cryptocurrencies can be purchased with a debit/credit card
- No e-wallet deposits or withdrawals
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
7. Crypto.com – Invest in DOGE and Earn Interest on Your Holdings
Looking for a comprehensive crypto exchange app? Look no further than Crypto.com! The Crypto.com App provides everything you need to get up to speed with the latest markets and coins. Plus, the charts are always updated with the latest info, so you can make informed decisions about your investments. Don’t miss out on this essential tool for any crypto enthusiast!
Welcome to Crypto.com, the leading exchange for DOGE trading in the UK! Crypto.com offers a fast, reliable, and secure service with support for DOGE trading. With Crypto.com’s easy-to-use platform, you can quickly buy and sell this popular digital asset. Furthermore, with the Crypto Earn service, you may even earn interest on your DOGE holdings and make a profit!
The Crypto.com mobile app is the quickest, simplest way to buy and sell Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Ripple (XRP). With the easy-to-use mobile app, you can instantly check your portfolio’s value in both your local currency and cryptocurrency. Moreover, the Crypto.com app permits you to easily transfer funds from one wallet to another without unreasonable rates. So whether you’re just starting out in the world of cryptocurrency or you’re a seasoned pro, Crypto.com has everything you need to get started today!
Why so serious? Laugh a little with Crypto.com’s premium metal Visa debit card! Get higher rewards and APR when you stake CRO on the app, plus enjoy all the benefits of a top-notch Visa debit card. It’s about time you had some fun with your finances!
Looking for a way to make some extra money from your crypto holdings? Check out our list of the best crypto staking platforms! Staking is a great way to generate passive income, and with so many platforms to choose from, you’re sure to find one that’s right for you. So what are you waiting for? Start staking today!
Crypto.com offers a range of easy-to-use products that make it simple for anyone to take advantage of fast, secure payments. Their Visa debit cards and DeFi wallet are perfect for your future’s security. In addition, Crypto.com is the perfect place to start your digital asset journey with features like its rewarding cashback program. With a massive $700 million naming rights deal, Crypto.com is quickly becoming a household name in the crypto world.
Looking to get into the cryptocurrency game but don’t know where to start? Look no further than Crypto.com! Crypto.com’s low 0.4% trading fee for new users with a trading volume of up to $25,000 a month makes it easy and affordable for anyone to get started, so you can start trading right away – without breaking the bank. So what are you waiting for? Get started today!
Pros
- Buy and sell a wide variety of cryptocurrencies with low fees
- Earn cashback rewards and enjoy numerous privileges
- Invest in a portfolio of coins and tokens with just one click
- Earn interest on your crypto holdings
- Safe and Secure Transactions
Cons
- Fees are higher unless you own and utilize CRO
- Navigating can be difficult for beginners
- Inadequate client service
- Discounted trading fees can be difficult to understand
- Insufficient educational resources
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
8. Gemini – Buy Low, Sell High on Dogecoin
Gemini is a popular DOGE platform that makes it easy for you to buy, sell, store, and spend cryptocurrencies. Gemini provides you with a simple, convenient, and secure way to access your cryptocurrencies with a secure website and mobile app. Use Gemini to get started in the exciting world of cryptocurrency today!
The future of money is in your hands! The Gemini Mobile app is your all-in-one solution for trading crypto. Stay on top of the market with real-time price alerts, and take advantage of buying opportunities when they arise. Create a free account in minutes and get started today!
Cryptocurrencies can be confusing to buy and sell, but with Gemini, it’s easy. Gemini makes the process simple, so you can focus on what’s important: making money. With quick and easy linking of your debit card, you can be buying crypto in minutes! Gemini also accepts bank transfers for immediate funding of your account. Plus, Gemini’s user-friendly platform makes it easy to get started. So why wait? Get started today!
Looking for a low-cost way to fund your Gemini account? Look no further than Gemini! With free ACH, wire transfer, and crypto transfer from external accounts, Gemini is the most affordable option around. Plus, debit card deposits incur a small 3.49% fee. So why wait? Fund your account today!
Remember that convenience costs are included in the quoted price of the cryptocurrency you’re buying and are increased by 0.5% for buy orders. The transaction fee is determined by the currency and volume of the transaction.
Gemini is the most reliable and advanced Dogecoin trading platform in the world. Gemini’s ActiveTrader platform provides the tools you need to get ahead in the cryptocurrency markets. With advanced charting and various order types, Gemini ActiveTrader delivers a first-rate experience.
Trade with confidence, knowing Gemini ActiveTrader is always there to help you get ahead in the markets. Its lightning-fast speed ensures reliable and secure trading, so you can focus on your profits. In addition, Gemini ActiveTrader is reliable and secure, making it the perfect choice for anyone looking to trade DOGE like a pro.
Gemini is the perfect tool for any Dogecoin investor who wants to get started with a user-friendly interface and sophisticated tools. With Gemini, you can trade your Dogecoins with ease and confidence. So why wait? Get started today!
Dogecoin is a rapidly growing cryptocurrency, and it’s more important than ever to find a safe and secure place to store your coins. Our selection of the best Dogecoin wallets in the UK is perfect for every need – so you can rest assured that your investment is in good hands. With options to suit everyone, we have the best DOGE wallet for you. So why wait? Invest in Dogecoin today!
Pros
- Add more diversity to your investment portfolio
- Intuitive features for a more efficient workflow
- A cutting-edge trading platform
- Earn daily interest for your crypto holdings
- High quality, reputable exchange
- Maintain peace of mind knowing that your assets are insured
- Makes you feel like a pro
- Create a portfolio that reflects your personality
Cons
- The fee structure is prohibitively expensive for modest trades
- Could be challenging for beginners
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
9. Coinmama – Invest in DOGE with Ease
Looking to break into the exciting and burgeoning world of Dogecoin? Look no further than Coinmama! Coinmama’s user-friendly platform makes it simple to buy Dogecoin with your credit card or bank transfer. Plus, Coinmama’s dedicated customer support team is always available to answer any questions you may have. So why wait? Invest in DOGE and get started today!
Looking for a reliable and easy-to-use Dogecoin exchange? Coinmama is the perfect place for beginners who want to invest in digital currencies. With competitive commission rates and an easy-to-use platform, you’ll be able to buy a variety of digital currencies in no time. Plus, with Dogecoin being one of the most popular cryptocurrencies around, it’s an excellent option for investors looking to diversify their portfolios. So what are you waiting for? Start investing today with Coinmama!
Introducing the Coinmama Loyalty Program – Coinmama’s way of thanking you for your business. Coinmama has three levels of savings, so you can get the best deal whether you’re a light spender or a long-time customer. Plus, there’s no need to do anything – automatic enrolment means you start saving right away! So take advantage of this program today and start saving on your transactions.
Customers who spend $5,000 over 90 days receive a 12.5% discount on their sales fee. In contrast, customers who spend $18,000 over 90 days or who complete a lifetime purchase of $50,000 or more enjoy a 25% discount on their sales fee.
Coinmama offers competitive rates based on the market rate of TradeBlock’s XBX Index along with 2%, plus a commission fee of up to 3.81% when purchasing cryptocurrencies and up to 0.9% to sell bitcoin. In addition, Coinmama is pleased to offer a reduced rate of 2.86% for users of the highest reward program. So whether you’re an experienced trader or a beginner, Coinmama has you covered.
Looking for a safe and easy way to invest in cryptocurrency? Try Coinmama – the leading Dogecoin exchange trusted by millions of investors worldwide. Coinmama makes it simple for you to get started with an easy-to-use interface. So why wait? Sign up today and buy Dogecoin in minutes!
We’ve all been there: feeling overwhelmed and unsure of where to start when it comes to crypto trading. But don’t worry, we’ve got you covered! With our list of the best crypto apps, you can get started in no time and take advantage of every opportunity that comes your way. From finding new opportunities to keeping track of your portfolio, these apps have everything you need to get started in the world of crypto trading. So what are you waiting for? Start exploring today!
Pros
- No fees for cryptocurrency deposits or withdrawals
- Numerous payment methods
- Verification within minutes
Cons
- Higher fees than some other competitors
- No iOS mobile app
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
10. Uphold – Trade your DOGE For a Profit Easily!
Looking to invest in precious metals or trade cryptocurrencies? Look no further than Uphold! Uphold’s platform is perfect for anyone looking to get started in the world of crypto investing. Uphold makes it easy to get started on your investment journey with a user-friendly interface and all the features. So what are you waiting for? Sign up today and explore the possibilities!
Uphold offers dedicated customer support to help you every step of the way. Plus, Uphold’s low fees make it more affordable than ever to get into the market. So sign up today and see the difference Uphold makes!
Looking for a way to buy cryptocurrencies without paying outrageous fees? Look no further than Uphold! So why wait? Uphold is the perfect way to purchase assets fee-free, thanks to ACH withdrawals and bank accounts. However, be prepared to pay a 3.99% fee for credit card transactions. Never, the spread on Uphold is far broader and more volatile. So sign up today and start investing in your future!
The exchange rate is determined by the nature of the asset being converted. For cryptocurrencies, the spread fluctuates between 0.80% and 1.20% for users in the U.S. and Europe and is roughly 1.80% in other countries.
Looking for a versatile and user-friendly way to purchase multiple assets like Dogecoin? Look no further than Uphold! With a wide range of currencies available, you’re sure to find the perfect option for your needs. Plus, Uphold is easy to use and offers excellent customer support if you need any help along the way. So why wait? Start buying today with Uphold!
Uphold is the perfect platform for anyone looking to invest in rapidly-growing equities. With Uphold’s easy-to-use platform, users may trade their cryptocurrencies for a potential profit. Why risk your money on uncertain investments when you can have the security and stability of Uphold? With Uphold’s reliable platform, you can get in on the action quickly and easily – without having to sacrifice safety or security. Try Uphold today!
Looking for a way to get into the Dogecoin market without being gouged on fees? Look no further than Uphold! Uphold offers free bank deposits and withdrawals, so you can keep more of your hard-earned money in your pocket. So sign up today and start using one of the most innovative platforms out there!
Looking for a reliable and trustworthy Dogecoin trading platform? Look no further than our list of the best Dogecoin trading platforms in the UK. We only recommend platforms that have been tried and tested, so you can be sure your money is in safe hands. Whether you’re a beginner or an experienced trader, we have something for everyone. So what are you waiting for? Start browsing today!
Pros
- Provides trading in precious metals, equities, and cryptocurrencies
- Without any hidden fees or spreads, you’ll always know what you’re going to get
- Eliminate the fear of making costly mistakes when managing digital assets
- You can begin using Uphold in minutes
Cons
- Compared to competitors, it has fewer educational resources
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
How to Invest in Dogecoin – Step-by-Step Walkthrough
By now, you should have a much clearer vision of how to invest in Dogecoin in the UK. As we said, the most secure and straight-cut way to access the cryptocurrency markets is to sign up with a trustworthy platform that is regulated by UK financial authority the FCA.
As such, for this walkthrough, you will see instructions on how to sign up with eToro. The reason for this is that the broker allows you to invest in Dogecoin and many other cryptocurrencies from just $25 on a spread-only basis.
Step 1: Open a Broker Account to Invest in Dogecoin
Complete the first step of the sign-up process by clicking the ‘Join Now’ button and filling in all of the information required within the registration box.
This includes your first and last name, mobile number, email address, and other details such as your national insurance number and a little about your knowledge of investing.
When you are satisfied with the information you have entered, you can confirm everything and validate your email address and mobile – as instructed by eToro.
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
Step 2: Upload Some Documents to Validate Your Identity
To invest in Dogecoin in the UK without deposit and withdrawal limitations, you will need to upload some documents. This is so that eToro can comply with AML regulations and validate the personal details you have entered.
Documentation needed to complete the KYC process includes:
- ID: A clear colored copy of your passport, driving license, or other accepted photo ID.
- Address: A bank statement or utility bill dated within 3 months. This must show your name, address, and the date the letter was issued to you.
Validating your ID and address should take less than 1-2 minutes from start to finish at eToro.
Step 3: Add Some Funds to Your UK Broker Account
You are another step closer to investing in Dogecoin. Next, you need to add some funds to your complete account. As we mentioned in our earlier review. This platform is super easy to use and supports a wide range of payment types.
eToro is compatible with credit and debit cards from Mastercard and Visa, UK bank transfers, and also e-wallets like PayPal. The fee to deposit is just 0.5%, as the site is US dollar-denominated. This is highly competitive and means you don’t have to exchange GBP to USB somewhere else first.
Step 4: Locate Dogecoin Tokens
Locating Dogecoin tokens is easy at eToro, as it’s a simple case of using the search facility on the main dashboard.
As you can see from the above, we began typing Dogecoin and a list of markets appeared. Hit ‘Trade’ when you’ve found the correct asset.
Step 5: Place an Order to Invest in Dogecoin
Now you can invest in Dogecoin in the UK by creating a buy order at eToro. You can begin by entering the amount you wish to allocate to DOGE tokens.
Here we are looking to purchase the minimum amount of just $25, which at the current price of $0.31 gets us around 79 units of Dogecoin. This is a great way for beginners to invest in Dogecoin without risking too much capital. Moderate amounts or not, it’s still crucial you understand the inner workings of this marketplace before diving in.
Finally, click on the ‘Open Trade’ button to invest in Dogecoin!
How to Sell Dogecoin in the UK
The vast majority of people looking to invest in Dogecoin in the UK will want to cash out at some time in the future – for more than they initially paid. How you are able to do this will very much depend on the platform from which you made your purchase.
For instance:
- At FCA regulated broker eToro, you can invest in Dogecoin with a simple buy order.
- You can also store and sell (cash out) DOGE tokens on a 24/7 basis.
- To cash out your investment, simply create a sell order.
- eToro will then fund your account with the proceeds.
At an unregulated exchange, this process can be long-winded. It often involves transferring digital funds from an existing wallet to a third-party platform and then swapping your DOGE tokens to GBP – before requesting a withdrawal. eToro offers an end-to-end investment solution, as you can invest, store and cash out under one roof.
Different Ways to Invest in Dogecoin in the UK
You now know how to invest in Dogecoin in the UK. But, you also need to pay consideration to where you might make your purchase. As we mentioned above, choosing a regulated brokerage makes cashing out easier.
We offer a brief explanation of both Dogecoin brokers and exchanges below.
Invest in Dogecoin UK via an Online Broker
Regulated online brokers create peace of mind for people looking to invest in Dogecoin in the UK. This is especially the case for platforms regulated by the FCA, the body responsible for maintaining stability and enforcing rules surrounding fee transparency and such.
- eToro is regulated by the FCA, ASIC, and CySEC and is also approved by US organizations FINRA and the SEC.
- Many regulated platforms support fiat deposits and withdrawals, which is a bonus for people with no existing digital holdings.
- This type of online broker also adheres to strict rules on ethical conduct and completing the KYC process.
Investing in cryptocurrencies does not come without risk, so legitimacy is a good place to start when looking for a good place to make your first Dogecoin purchase.
Invest in Dogecoin UK via a Crypto Exchange
There is no shortage of crypto exchanges offering Dogecoin to UK clients – the problem is many are not approved by the FCA. Without this regulation, you won’t know whether the company you are handing your payment details and personal information to is above-board.
It’s also important to note that decentralized exchanges that support fiat deposits using a debit card can sometimes charge hefty fees. We cover potential charges shortly for any beginners so that you know what to expect.
Is Dogecoin a Good Investment?
Whether it is good to invest in Dogecoin in the UK will depend on various aspects, such as your experience, appetite for risk, and understanding of digital assets like this.
In other words, investing in cryptocurrencies is highly speculative. It’s important to have a strong understanding of how the market works before going ahead and throwing your life savings at it. You can start by learning the ropes and allocating small amounts via a broker that supports fractional investments.
With that said, you will see below some of the standout characteristics of Dogecoin, which may help you decide whether it’s a good investment for you.
Online Communities and Celebrities Boost the Value of Dogecoin
Dogecoin started as a parody of a meme, so was considered a bit of a joke. Despite this, years after its release, many online groups, influencers, and celebrities have gotten behind this digital asset and their opinion on it went viral. In turn, this has boosted the market value of DOGE tokens.
In case this recent interest in Dogecoin has passed you by, see below:
- Elon Musk influenced the market value of Dogecoin in a massive way via social media. The Tesla CEO famously tweeted a parody of a Vogue cover, with the magazine’s usual title replaced with ‘Dogue’. This caused a price increase of 800% in Dogecoin!
- On another occasion, Dogecoin rose by 44% after Elon Musk tweeted ‘Dogecoin is the ‘people’s cryptocurrency’.
- Snoop Dogg also attributed to an increase in the value of Dogecoin after engaging in tweets with Elon Musk. The rapper caught the attention of millions of followers by altering the image of one of his iconic album covers, replacing the original title with ‘Snoop Doge’, in support of the digital currency.
- KISS rocker Gene Simmons once stated that he owns six figures worth of DOGE tokens, referring to himself as the ‘God of Dogecoin’.
- Billionaire Mark Cuban, a well-known technology investor, stated on social media that he would buy Dogecoin over a lottery ticket if he had to choose.
- Famously, in a video challenge that went viral, TikTok users managed to push the value of DOGE tokens up by 1,900% in just two days in July 2020.
- Kevin Jonas explained the value of Dogecoin to his 5.3 million Twitter followers. This caused DOGE tokens to rise to their highest value at the time.
When reading up on how to invest in Dogecoin in the UK, it’s important you reign in your emotions. As we touched on, one of the first things to do is educate yourself on the ins and outs of digital assets. This is so that you understand what you are purchasing and how the market works.
It’s also wise to be cautious when reading online hype surrounding a cryptocurrency. Some celebrities or groups may have an ulterior motive for wanting to drive the price of Dogecoin in one direction or another. On the other hand, once you understand how the space works, you may be able to try to use these price spikes to your advantage.
Dogecoin and Its Many Diamond Hands
When researching how to invest in Dogecoin in the UK, you may have seen the phrase ‘diamond hands’. This is slang used to refer to someone who purchases digital assets intending to hold long-term. This category of investor has a high tolerance for risk and volatility and isn’t concerned with what happens in the short term.
For anyone unaware of this terminology, see further explanation below:
- The slang word HODL means to buy a cryptocurrency like Dogecoin and hold on to it long-term.
- There are different types of HODLers such as emerald, diamond, gold, steel, and more.
- A diamond hands HODLer is someone whose trading strategy is to not sell under any circumstances – even if the price of the tokens experiences a sharp decline.
- The idea is to hold on until the tokens become valuable (like a diamond).
Dogecoin has heaps of diamond hands, but what does this mean for the cryptocurrency? The more people that buy digital assets with no intention of selling, riding out the storm when prices drop – the less likely DOGE tokens are to collapse. If this sounds like a strategy that you’d like to try yourself, be aware that, for a beginner, the process can be daunting.
It will mean standing your ground even when all analysis points to potential gains from cashing out. The easiest way for newbies to HODL is to adopt a slightly modified version and grow a portfolio in small amounts over time. Preferably, when tokens are ‘cheap’ in comparison to recent highs.
eToro allows investments as low as $25 to invest in Dogecoin in the UK. As we mentioned, this is only around £18. You should never risk more than you can realistically afford to lose. Furthermore, you should always perform your own in-depth research into the market in question.
Dogecoin Has Potential to Head to The Moon
A common rallying cry in this industry is ‘to the moon’ – which often means a sharp price increase may be imminent – or is called for. Dogecoin has been around since the end of 2013. However, it’s only in recent years that DOGE tokens have been valued at higher than a fraction of a cent.
As we mentioned, supply and demand as well as retail investors HODLing can have an effect on the performance of a cryptocurrency.
For instance,
- Had you looked to invest in Dogecoin in the UK in early May 2015, you would have paid $0.0002.
- At the time of writing, a DOGE token is worth $0.30.
- This is a difference of over 134,000%.
- Although this cryptocurrency still hasn’t risen to $1 yet, there are tons of online groups calling for this to happen.
- In the past year alone, DOGE tokens have increased by a whopping 10,000%.
As we mentioned, celebrity endorsements also play a huge role in retail investors flocking to purchase DOGE tokens – which also leads to a rise in value. Speculation is what investing in cryptocurrencies is all about – so make sure you fully comprehend every aspect of how to invest in Dogecoin in the UK before diving in.
Is it Risky to Invest in Dogecoin in the UK?
Yes. There is always risk involved in buying and selling digital assets, as their price often fluctuates based on speculation. As such, investing in Dogecoin in the UK shouldn’t be taken lightly.
What goes up can also come down. When reading stories of Dogecoin and its meteoric rise in value – remember there is nothing to stop this crypto asset from fading away like many others before it. That’s why it’s so important to always conduct in-depth research on any market you want to allocate money to.
What is the Cost of Investing in Dogecoin?
There are some fees that cryptocurrency investors expect to pay. It’s important to understand the cost involved in investing in Dogecoin in the UK, as this will differ depending on your choice of platform.
You will find the most common fees below:
- Commission Fees: Commission fees are commonplace. After all, brokers need to cover their losses. Always study the fee table at a potential platform before joining. Let’s offer you an example of the disparity found whilst researching the best places to invest in Dogecoin. eToro only charges the spread – instead of commission, which starts from 0.75%. On the other hand, Coinbase charges 1.49%.
- Deposit Fees: The deposit fee charged by platforms will usually depend on the payment type. Some providers charge eye-watering fees to fund an account using a debit card. For instance, Coinbase charges 3.99% when taking this route, eToro only stipulates 0.5%.
The lower the fees are charged by a Dogecoin broker, then the better it will be for your potential gains. As you can see, if you fund your account with $1,000 (approximately £725) using a debit card at eToro, you will pay the broker $5 (around £3.60). At the crypto exchange Coinbase, the fee for the same deposit method and amount would set you back $39.90!
How to Invest in Dogecoin UK: Conclusion
It’s never been more simple to invest in Dogecoin in the UK. Tesla, the American electric vehicle manufacturer led by billionaire Elon Musk, has begun accepting Dogecoin payments for brand merchandise. With this cryptocurrency’s rising popularity amongst retail investors, there are now heaps of platforms offering access to this digital asset. We reviewed crypto exchanges as well as regulated brokers and found that the latter is the safest and more convenient option for beginners.
eToro came out the best place to invest in Dogecoin. The broker is approved, licensed, and regulated by the FCA, CySEC, and ASIC and only charges the spread to buy and sell digital assets.
Furthermore, you can purchase as little as $25 worth of DOGE tokens, which prevents you from overexposing yourself to such a volatile marketplace. The provider supports many deposit methods, including UK credit and debit cards, bank transfers, and popular e-wallets like PayPal and Neteller, and only charges 0.5% to swap GBP for USD.
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