Buying Dogecoin at Bitvavo
Are you interested in Dogecoin? On this page, we will discuss how you can invest in Dogecoin by purchasing it at Bitvavo!
How can you buy Dogecoin at Bitvavo?
It is easy to buy Dogecoin at Bitvavo. You can only buy cryptos like Dogecoin at Bitvavo, after your account is verified, and you have deposited money. You can read how this works in more detail in this article.
To buy Dogecoin, first navigate to the Dogecoin cryptocurrency in the cryptocurrencies overview. Click on the Dogecoin cryptocurrency to open the order screen.
In the order screen, you can enter the amount you wish to purchase Dogecoin for. This can be as little as a few euros!
You’ll see the trading costs and the spread on the transaction. Press buy to purchase Dogecoins.
Bitvavo will then execute the order at the best available price. If you wish to sell your Dogecoins at a later date, you can sell your Dogecoin again by clicking on the sell button.
What is Dogecoin?
Before you invest in Dogecoin at Bitvavo, it may be smart to study what Dogecoin is. The original founder of DOGE, Jackson Palmer, once created the coin as a joke. The cute appearance of the cryptocurrency further emphasizes this.
That Dogecoin eventually grew to be much more may be obvious! In 2021, the price of Dogecoin skyrocketed so that even with a small investment, you could have made a fortune!
Dogecoin is also being used more and more in the real world. For example, the cryptocurrency is often used for tipping. DOGE was also used in the past to sponsor various charities. This gave the coin a lot of positive attention, which further contributed to the rising price.
What do you have to look out for?
Before investing in Dogecoin, it is wise to research the cryptocurrency first. Cryptocurrencies are very volatile and the price can fluctuate greatly under the influence of both positive and negative news. A tweet from Elon Musk can cause the price to rise significantly… or collapse.
It is therefore important to only invest with money in Dogecoin that you can afford to lose. This is because there is a high chance that you will lose money with an investment in DOGE.
It is also very difficult to select the perfect moment to buy. By investing on multiple moments, you increase the chance of making a positive return. If you invest in DOGE with all your money at one moment, there is a chance that you buy at the top of the market and that you can lose a considerable amount.
Investing in cryptocurrencies like Doge is not for everyone. Due to the high degree of volatility, it can be very interesting to trade them. But only do this if it doesn’t keep you up at night.
Frequently Asked Questions about Dogecoin
Yes! At Bitvavo, you can buy Dogecoin and other cryptocurrencies using iDEAL without a problem.
You do not need a Dogecoin wallet to invest in DOGE. In fact, at Bitvavo, you can use their online wallet for free. Of course, you always have the option to send the crypto coins to an offline wallet.
It is very easy to buy Dogecoin at Bitvavo. You can only buy cryptos like Dogecoin at Bitvavo, after your account is verified, and you have deposited money. You can read how this works in more detail in this article.