How to Buy Dogecoin with PayPal5-min read

Dogecoin is the leading memecoin in the world. It had started as a social experiment, given as a reward for spreading positive messages on social media platforms like reddit. However, with the support of corporate legends like Elon Musk, its value has grown inside the crypto space – and outside it. That has led to many brokers allowing fiat methods such as PayPal to buy Dogecoin.

This guide explains how to buy Dogecoin with PayPal in India and abroad, who the best dogecoin brokers in India are, and the benefits and drawbacks of buying Dogecoin using PayPal.

Brief History of Dogecoin

Dogecoin is a cryptocurrency that was created in 2013 by software engineers Billy Markus and Jackson Palmer. It was initially created as a joke but has since gained a significant following and is now considered a legitimate cryptocurrency. Dogecoin is based on the same technology as Bitcoin, but it has a few key differences. For example, Dogecoin has a faster block time and a larger supply limit than Bitcoin.

Where to Buy Dogecoin in India and Abroad – Best Dogecoin Brokers for March 2023

When it comes to buying Dogecoin in India, the best crypto trading platforms listed below have gained positive reviews from the community due to their reliability, trustworthiness, and ease of use.

Binance: The Best Platform to Buy Dogecoin with PayPal

Binance is the world’s biggest crypto exchange by market capitalization, user count, and 24-hour trading volume. The platform has over 120 million users, possibly 18% of which are Indian crypto traders, and has a 24-hour trading volume of 76 million dollars.

Binance is a trusted cryptocurrency exchange offering multiple ways to trade Dogecoin. In addition to providing standard spot trading for this memecoin, Binance has added DOGE/BUSD and SHIB/DOGE to margin pairs. In addition, to offering trades, Binance also offers Dogecoin staking with Binance earn.

However, to buy Dogecoin on Binance via Paytm, you can’t interact with the standard exchange but must rely on Binance P2P. Binance P2P will let you directly trade Dogecoin from other sellers on the platform with PayPal and 51 different methods.

Libertex: Best Platform to Swap Dogecoin with Another Crypto

If you’re an advanced trader looking to swap your cryptos for Dogecoin, we recommend Libertex. While the standard trading platform is not available in India, crypto-to-crypto swapping exists.

Libertex is one of the world’s largest cryptocurrency exchanges, with over 2.9 million users. Indian users, however, make up for only a margin of those customers, but given the country’s crypto ownership growth YoY (of 421% from 2021 to 2022), Libertex is becoming increasingly more popular as the top choice for Indians, at home and abroad, especially given its unmatched user-friendly dashboard and recurring giveaways exclusive to regions like India, such as its draw allowing customers to win up to 500 BTC.

How to Buy Dogecoin with PayPal in India and Abroad

1. Choose the broker
2. Create a crypto account
3. Deposit funds with a card
4. Search for Dogecoin
5. Buy Dogecoin

Here is a detailed explanation of these steps:

1. Choose a broker: The first step is choosing a broker. Conduct comprehensive research about a cryptocurrency broker’s trading history before selecting one that suits your requirement.
2. Create a crypto account: Once you have selected a broker, create a crypto account on its platform. Building a crypto account on Binance is simple.
3. Deposit Funds with Card: Binance requires at least $10 to start trading. So log in, go to your dashboard, click “deposit,” and fund your account using your card.
4. Search for Dogecoin: Click on “Buy Crypto”. Select the payment method. In the dialogue box, select DOGE in the receiving section.
5. Buy Dogecoin: Click on Pay. Choose PayPal once it becomes available. For now, only a few third-party payment channels are available, including Bifinity, GEO Pay, ADVCash, and Simplex.

KYC and Verification

To buy or sell any cryptocurrency, you must provide your KYC details to Binance. It would include any government-issued ID. For an Indian consumer, that would be an Aadhar card, PAN card, Voter ID card, or driving license. Binance has taken these measures under the Anti-Money Laundering rules (AML), making it one of the most responsible exchanges in the market.

Buy Dogecoin Using PayPal on Binance

To buy Dogecoin using Paypay, you need to follow the steps below:

1. Go to Binance P2P exchange.
2. Select DOGE from the “Buy” section once it becomes available.
3. Enter the amount you want to swap for Dogecoin.
4. Select the seller who accepts PayPal.
5. Log in with your Binance credentials.
6. Buy Dogecoin.
7. Get the receipt.

Buy Dogecoin with a PayPal Account on Libertex

Here are the steps to buy Dogecoin with Pay on Libertex.

1. Make sure that your PayPal wallet has Bitcoin
2. Connect with Libertex
3. Go to PayPal wallet and choose the coin to transfer.
4. Click on send and note down the unique crypto address.
5. Go to your Libertex account and go to deposit.
6. In the receive section, enter the unique crypto address.
7. Click on receive.
8. Swap Bitcoin for Dogecoin.

Benefits and Drawbacks of Using PayPal to Buy Dogecoin

One of the main benefits of using PayPal to buy Dogecoin is the convenience factor. PayPal is a widely accepted payment method and is very easy to use. Additionally, transactions made with PayPal are usually processed quickly, which means you can buy Dogecoin and have it in your wallet within a matter of minutes. PayPal also provides security features such as buyer protection, which can help protect you against fraud.

Automated Dogecoin Trading: A Game-Changing Innovation

Crypto trading robots are a game-changing innovation in the world of trading. With this technology, you can program and automate trades without any manual intervention, allowing you to stay ahead of the curve in today’s fast-paced market. Companies like BlackRock have already leveraged this technology to stay ultra-rich, even when the global market is down.

The latest advancements in machine learning technology have made it possible for crypto trading bots to accurately predict market trends. This is especially critical for volatile cryptos like Dogecoin, which is suitable for day traders. By reacting instantly to market changes, these bots can help intra-day traders get the most benefit from the volatility of the crypto market.

If you’re interested in investing in Dogecoin, you might want to consider using a trading bot like Dogecoin Millionaire. This bot has been specifically developed to predict fluctuations in the Dogecoin market and make optimal investments at the most strategic time. Unfortunately, due to high demand, new registrations are limited to meet capacity. However, you can bypass waiting times and sign up instantly by clicking here.

How Do Crypto Trading Bots Work?

Crypto trading bots work by executing trades on behalf of a user based on pre-defined rules and strategies. These bots use various indicators and technical analysis tools to identify profitable trades and execute them automatically. Users can set parameters for the bot to follow, such as the amount to trade, stop-loss and take-profit levels, and the frequency of trades.

The bots can be programmed to monitor market conditions and execute trades 24/7, which is especially useful for traders who cannot monitor the market all the time. They can also backtest trading strategies using historical data to assess their performance and refine them.

If you’re interested in using a crypto trading bot, we have compiled a list of top crypto trading bots that our experts have tested for safety, useability, and accuracy. However, as this technology is still new, it’s important to assess the bots before signing up. For more information, you can explore the bitcoin bots available in the Indian crypto market on our review site.

Best Dogecoin Bot for March 2023

Dogecoin Millionaire has consistently passed our vetting process over a period of six months, from multiple test accounts, as the most reliable Dogecoin trading bot on the market. The bot has successfully foretold several small Dogecoin price surges and garnering considerable ROI accordingly.

Choosing the Right Exchange for You

Here are the tips for choosing the right exchange.

1. Decide if you want an exchange for a long-term or short-term investment. Are you looking for a platform for long-term trading or day trading?
2. Research the security measures the exchange has taken.
3. Don’t expect positive results always; the crypto market is volatile.
4. Find out whether a platform provides cold storage for Dogecoin holdings.

Fees

It is important to be aware of any fees that may be associated with buying Dogecoin with PayPal. PayPal may charge a fee for processing the transaction, and the cryptocurrency exchange may also charge a fee for buying and selling Dogecoin. Additionally, there may be other fees that apply, such as network fees.

Vetting our Recommended Brokers

Our experts review the crypto exchanges that we have shown. We created the account on the platform, traded on it, and learned the intricacies of withdrawal and deposit time. We also take community feedback in our reviews to ensure that we do not leave any stone unturned during the review process.

However, ensure you read in-depth reviews of every broker and do your research before investing. To learn more, check out our review of the best cryptocurrency trading platforms.

Automated Dogecoin Trading Software

Apart from the usual established brokers, there are also automated trading bots which could be used for buying and selling Dogecoin at the most strategic time. It is imperative however to always read the reviews and access this software from reliable review sites, for otherwise new customers risk stumbling upon the many fake versions attempting to impersonate otherwise legitimate brands. The market for automated trading bots is still unregulated and – as such – the need to conduct thorough research remains indispensable.

What to Know Before Buying Dogecoin

Dogecoin is a memecoin, a joke currency that gained ground as soon as Elon Musk tweeted in its support. That led to bullishness in the community, leading Dogecoin to reach all-time high levels. And when the community’s perception of this token was down, its price dropped. Therefore, you must understand its fundamentals before you buy Dogecoin.

Another thing to keep an eye on are the review sites for Dogecoin. Make sure that they provide unbiased insight about this cryptocurrency and provide a raw look into the market conditions of this token.

Always Be Aware of Potential Risks

As with any investment, there are risks associated with buying Dogecoin. The cryptocurrency market is known for its volatility, which means that the value of Dogecoin can fluctuate greatly in a short amount of time. Additionally, there is always a risk of fraud or scams, so it is important to do your research and only buy Dogecoin from reputable sources.

Alternatives to buying Dogecoin with PayPal

While PayPal is a popular payment method, it is not the only way to buy Dogecoin. Other payment methods that are commonly accepted include credit cards, bank transfers, and other cryptocurrencies. Additionally, there are many cryptocurrency exchanges that accept PayPal as a payment method.

Investing Responsibly

When investing in cryptocurrency, always assess your risk tolerance. Always consider how much you can afford to lose because the wealth you invest can disappear within a day. Take the case of Terra, for instance. Within a day, its value dropped to zero. While it is highly unlikely that Dogecoin will suffer the same fate, one must always be watchful of the market conditions before investing.

Why Buying Dogecoin with PayPal Is a Good Choice

Buying Dogecoin with PayPal can be a good choice because it offers convenience, speed, and security. PayPal is widely accepted and easy to use, and transactions are usually processed quickly. Additionally, PayPal provides security features such as buyer protection, which can help protect you against fraud. However, it is important to be aware of any fees that may be associated with buying Dogecoin with PayPal and to understand the risks associated with investing in cryptocurrency.

Latest Developments:

According to a blockchain analytics firm, a majority of Dogecoin (DOGE) holders are currently in profit, while Shiba Inu (SHIB) holders are faring much worse. IntoTheBlock reports that 56% of DOGE holders are currently profitable, 34% are at a loss, and 10% are breaking even. Meanwhile, just 29% of SHIB holders are in profit, and 67% are underwater. Dogecoin is currently trading at $0.075, down 24% from its 2023 high, while SHIB is worth $0.000011, down 31% from its high this year of $0.000016. The Shiba Inu ecosystem recently launched its layer-2 scaling solution, Shibarium, in beta form. Once testing is complete, Bone ShibaSwap (BONE) will be the governance token for the new ecosystem and used to pay for gas fees. However, Kusama has warned that coins in Shibarium’s beta form are not real, and users should not spend their SHIB trying to accumulate them.

Conclusion

We reviewed the best brokers from which you can get Dogecoin, and we have also discussed the “how-to” buy steps to buy Dogecoin using PayPal. You now also know how to choose the right crypto exchange for buying Dogecoin and what you should know before investing. Please consider this guide before buying Dogecoin or any other crypto investment.

PayPal’s move to integrate and facilitate crypto transactions through its platform is a major step towards the mainstream adoption of digital assets. This could have a significant impact on the wider cryptocurrency market and could lead to an influx of new users and investors. Popular exchanges like Binance and Libertex allow easy purchase of DOGE through PayPal.

Dogecoin, the popular meme coin, has been making waves in the crypto industry since 2013. Despite the tough market conditions in 2020, Dogecoin has managed to move up two spots on the crypto ladder and is now ranked 8th by market capitalisation. As Dogecoin continues to prove its strength and stability, now is the perfect time to start investing in Dogecoin with PayPal.

Key Takeaways:

1. Dogecoin is a volatile memecoin
2. Binance and Libertex are the best exchanges to buy Dogecoin
3. You can only buy Dogecoin with PayPal only on P2P exchanges at the moment.
4. You must consider your investment needs before choosing an exchange.
5. You must invest only after considering your risk tolerance.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.