How to Buy Dogecoin with Paytm12-min read

Navigating the Purchase of Dogecoin via Paytm: An Insight into Indian and Global Transactions

Dogecoin is a speculative cryptocurrency that has grown in popularity because of Elon Musk’s interest in this crypto. This being said, the bear market has tempered the crowd’s perspective towards this chaotic but profitable asset. In response, Dogecoin has begun introducing better real-life use cases, leading to many serious crypto investors in India asking how to buy Dogecoin with Paytm given how the India-native mobile payment platform has warmed up considerably to the Blockchain sector as a whole.

This guide covers this question and points out the best crypto trading platforms in India, the process of buying Dogecoin with Paytm, and what you must know before buying Dogecoin.

In This Guide:

1. Introduction to Dogecoin
2. Where to Buy Dogecoin in India – Best Dogecoin Brokers for December 2024
3. Understanding Paytm: A Brief Overview
4. Guide to Purchasing Dogecoin via Paytm in India
5. Benefits and Drawbacks of Using Paytm for Buying Dogecoin
6. How to Buy Dogecoin Using Paytm in India
7. Choosing the Ideal Dogecoin Exchange to Suit Your Needs
8. Vetting Our Recommended Brokers
9. What to Know Before Buying Dogecoin?
10. Alternative Methods for Buying Dogecoin
11. Invest Responsibly in Dogecoin
12. Conclusion

Introduction to Dogecoin

Dogecoin is a peer-to-peer digital currency that was created in 2013 by programmer Billy Markus and marketer Jackson Palmer. It is based on the popular “Doge” meme, featuring the Shiba Inu dog, not to be confused with the SHIB token. Dogecoin was initially created as a fun and light-hearted cryptocurrency but has since gained a massive following due to its low transaction fees and fast processing times.

Dogecoin is built on the same technology as Bitcoin, called blockchain, which is a decentralised ledger that records all transactions made using the cryptocurrency. This means that Dogecoin is not controlled by any central authority, making it a decentralised currency that operates independently of governments and financial institutions.

Where to Buy Dogecoin in India – Best Dogecoin Brokers for December 2024

Dogecoin is a speculative asset, so you must be careful about the crypto broker you buy it from. The Dogecoin brokers listed below have gotten rave reviews from the crypto enthusiasts because of their security features and inclusive UIs. Those factors make these brokers fit for veteran and first-time crypto investors.

AvaTrade: A Premier Destination for Dogecoin Endeavours

Esteemed within the financial sphere, AvaTrade presents tailored avenues for enthusiasts eager to navigate the crypto waters. One standout feature? A bonus structure devised to cater both newcomers and adept traders. Keen to amplify your Dogecoin pursuits with exclusive perks? Let’s embark on a deeper exploration!

The AvaTrade Reward Scheme: Empowering Your Financial Leverage

Presently, while bonuses are tethered to deposits, AvaTrade’s investment-centric rewards guarantee a fortifying start to your venture. A preliminary deposit of 200 USD, or its equivalent in ZAR, GBP, EUR, or AUD, sets the stage. The premise is uncomplicated: as your deposit ascends, so does your bonus, crafting an enticing avenue for prospective Dogecoin stakeholders. Here’s a glimpse at the reward tiers:

• A deposit of 200 USD yields a 40 USD bonus.
• For a 300 USD infusion, reap an added 60 USD.
• Committing 500 USD? Rejoice with a 100 USD bonus.
• Amplify with a 1000 USD deposit and garner a hefty 200 USD reward.

Regulations and Preconditions

Such enticing bonuses are reserved for traders operating verified real accounts. If you’re navigating via a demo, it may be prime time for an upgrade. While these incentives are sculpted to uplift your trading odyssey, they aren’t instantly accessible for withdrawal. Achieving a specified trading threshold is crucial to redeeming your gains.

Tapping into AvaTrade’s Reward Offerings

Two predominant bonuses await your command: AvaTrade Inception Bonus: Newly integrated with AvaTrade? Upon the activation and crediting of your account, an inaugural bonus beckons. This bonus is multifaceted, suitable for FX, CFD dealings, and Dogecoin procurements. A crucial advisory: ensure you meet the stipulated trading volume within a six-month frame, lest you forfeit the bonus. It’s also vital to recognise that bonuses might be non-applicable for transactions via Neteller or Skrill.

To encapsulate, irrespective of whether you’re a die-hard Dogecoin devotee or a versatile crypto merchant, AvaTrade transcends as merely a trading nexus. It emerges as a springboard to hone and harness your investment acumen right from the outset.

Sign up for AvaTrade here to claim a deposit bonus between 40% and 80%

Binance

Binance is one of the most popular cryptocurrency exchanges globally, renowned for its diverse asset selection, competitive fees, and extensive support for different payment methods. For Indian users, Binance offers a simple way to buy Dogecoin with Paytm through peer-to-peer (P2P) trading, where users can connect with buyers and sellers willing to exchange crypto directly.

Features and Benefits:

• Multiple Payment Options: Offers support for Paytm, UPI, NEFT, and more for ease of deposit and withdrawal.
• P2P Trading Platform: Binance’s P2P feature allows users to trade Dogecoin directly with others using Paytm, which ensures a higher level of control and competitive pricing.
• Low Trading Fees: With fees starting at 0.1%, Binance is a cost-effective platform for frequent traders.

WazirX

WazirX, an India-based cryptocurrency exchange, is highly favoured among Indian crypto enthusiasts for its local payment method integrations. WazirX facilitates buying Dogecoin with Paytm, making it a convenient choice for those who prefer familiar payment systems.

Features and Benefits:

• Local Payment Support: WazirX has integrated with several Indian payment solutions, including Paytm and UPI, making deposits straightforward for Indian traders.
• User-Friendly Interface: WazirX is well-known for its easy-to-use trading platform, perfect for both novice and seasoned crypto investors.
• Fiat Gateway: Users can quickly convert INR into Dogecoin using Paytm, enabling seamless trading without having to go through multiple currency conversions.

CoinDCX

CoinDCX is another India-centric cryptocurrency platform that facilitates Dogecoin transactions. Known for its compliance with Indian financial regulations, CoinDCX supports a variety of payment methods, including Paytm, to ensure a hassle-free crypto trading experience.

Features and Benefits:

• Comprehensive Payment Options: Allows payments via Paytm, UPI, and bank transfer.
• No Minimum Deposit: CoinDCX has no minimum deposit requirement, making it an ideal platform for those who want to start small.
• Instant Buy and Sell: CoinDCX offers instant order fulfillment, making it easier to quickly buy or sell Dogecoin at prevailing market rates.

Bitbns

Bitbns is one of India’s premier cryptocurrency exchanges, offering seamless trading options, including buying Dogecoin with Paytm. It’s a great choice for those looking for a highly liquid marketplace with local payment support.

Features and Benefits:

• Paytm Integration: Bitbns has integrated Paytm as a deposit method to streamline INR to Dogecoin transactions.
• Staking Opportunities: Beyond just buying Dogecoin, Bitbns offers staking opportunities for a variety of cryptocurrencies, providing a way for users to earn passive income.
• 24/7 Customer Support: The exchange offers round-the-clock customer support, ensuring users have help when they need it.

KuCoin

KuCoin is a globally recognized exchange that supports Indian users, providing multiple payment methods, including P2P transactions where Paytm can be used. KuCoin offers a feature-rich platform, ideal for traders looking for advanced tools and options.

Features and Benefits:

• P2P Market for Paytm Payments: Similar to Binance, KuCoin allows P2P trades where you can use Paytm to fund your purchases.
• High Liquidity: KuCoin’s global user base ensures that liquidity remains high, which translates to better pricing and fewer delays for Dogecoin buyers.
• Advanced Trading Tools: KuCoin’s advanced charting tools and margin trading options make it an attractive choice for those looking to do more than just buy and hold Dogecoin.

ZebPay

ZebPay is one of India’s oldest and most established cryptocurrency exchanges, known for its ease of use and security features. It provides a direct method for users to buy Dogecoin using Paytm, with competitive fees and a straightforward registration process.

Features and Benefits:

• Simple Interface: ZebPay’s straightforward interface ensures a smooth user experience, ideal for newcomers to crypto trading.
• Mobile-First Approach: ZebPay offers a well-designed mobile application, providing convenient trading on the go using Paytm.
• Security First: ZebPay takes security seriously, with features like multi-signature wallets and insurance against security breaches, adding an extra layer of confidence for investors.

Understanding Paytm: A Brief Overview

For those embarking on the digital payment journey in India, one name stands out prominently: Paytm. But what is this platform, and why is it revered by millions? Let’s delve deeper.

1. Origins and Evolution: Launched in 2010 by Vijay Shekhar Sharma, Paytm began as a modest platform for mobile and DTH recharging. Over the decade, it has metamorphosed into a comprehensive digital wallet and a leading financial services company.
2. Diverse Utility: While it initially catered to mobile top-ups, today Paytm’s repertoire includes utility bill payments, movie and flight bookings, and even online shopping through its e-commerce arm, Paytm Mall.
3. Banking Transition: Venturing beyond digital payments, Paytm introduced its banking segment, Paytm Payments Bank, which offers savings accounts, fixed deposits, and other standard banking services.
4. Safety Features: Paytm places paramount importance on user security. With multi-tier encryption and a slew of safety protocols, the platform ensures that users’ data and funds remain protected against potential threats.
5. Widespread Acceptance: Owing to its user-friendly interface and diverse offerings, Paytm enjoys widespread acceptance across merchants in India, both online and offline.
6. Innovation at Its Core: Always at the forefront of the digital revolution, Paytm has been instrumental in pioneering features like QR code-based payments and contactless transactions, particularly vital in a post-pandemic world.

In essence, Paytm isn’t merely a digital payment tool. It encapsulates a financial ecosystem, simplifying transactions and banking for the masses, and has played a pivotal role in spearheading India’s march towards a cashless economy.

Guide to Purchasing Dogecoin via Paytm in India

Follow these steps to acquire Dogecoin using Paytm in India:

1. Identify a reputable Dogecoin broker.
2. Set up a cryptocurrency account.
3. Inject funds into your account.
4. Locate Dogecoin on the platform.
5. Proceed with your Dogecoin purchase.

For a more in-depth understanding, here’s a breakdown:

1. Identify a reputable Dogecoin broker: Engage in due diligence to pinpoint a Dogecoin broker that aligns with your needs. Prioritise factors like security measures and a seamless trading interface.
2. Set up a cryptocurrency account: Navigate to the broker’s official portal and initiate the account creation process. The preliminary phase requires typical registration details like username and password. Subsequent steps will involve furnishing KYC documentation.
3. Inject funds into your account: Upon logging into your selected Dogecoin broker platform, head to the dashboard. Seek out the “Deposit” option. While conventional methods like Mastercard or Visa debit/credit cards are commonplace, many brokers also facilitate transactions through bank transfers, ACH transfers, Google Pay, Apple Pay, and notably, Paytm.
4. Locate Dogecoin on the platform: Utilise the broker’s search functionality to pinpoint Dogecoin.
5. Proceed with your Dogecoin purchase: Upon accessing the Dogecoin trading interface, specify the quantity you’re aiming to acquire. Complete the transaction using preferred methods such as credit/debit cards, bank transfers, or directly through your Paytm wallet.

KYC and Verification

Most centralised exchanges have begun to embrace regulations and require KYC from those who sign up. So, when you get asked to provide your KYC document, upload a scanned copy of your government-issued ID. For Indian investors, those would be Aadhar cards, PAN cards, Voter ID cards, or Driving Licenses. Platforms like Binance implement KYC to follow their AML (Anti-Money Laundering) rules. It signifies that the crypto exchange is responsible and cares about the customers.

Benefits and Drawbacks of Using Paytm for Buying Dogecoin

How to Buy Dogecoin Using Paytm in India

Step 1: Download the Paytm app on your smartphone and create an account. You will need to provide your phone number and email address and set up a password.

Step 2: Link your bank account or credit card to your Paytm account. You can do this by going to the “Bank Account” section in the app and selecting “Add Bank Account.” You will need to provide your account details and complete the verification process.

Step 3: Once your bank account or credit card is linked, go to the “Dogecoin” section in the app and select “Buy.” You will need to enter the amount of Dogecoin you want to purchase and confirm the transaction.

Step 4: Paytm will process the transaction, and your Dogecoin will be credited to your Paytm wallet. You can then hold onto the Dogecoin or sell it at a later time.

It’s worth noting that Paytm charges a fee for buying and selling Dogecoin. Make sure you check the current fees and exchange rates before making a transaction.

To buy Dogecoin using Paytm, you’ll need to make sure that you have enough funds in your Paytm account to cover the cost of the Dogecoin you want to buy. It’s also important to remember that the value of Dogecoin can be volatile, so it’s essential to keep an eye on the market and make informed decisions when buying or selling.

In conclusion, buying Dogecoin using Paytm in India is a simple and accessible process. As with any investment, it’s crucial to do your research and stay informed to make the most of your investment.

Choosing the Ideal Dogecoin Exchange to Suit Your Needs

Consider the following criteria when determining the most suitable broker for you:

1. Define your trading objectives: Understand your specific trading goals. Given the speculative nature of Dogecoin, you need to ascertain whether you’re aiming for a long-term investment or are keen on realising swift profits through intra-day trading.
2. Gauge your expectations from the crypto market: The cryptocurrency market is notorious for its volatility, often experiencing dramatic highs and lows within mere hours. Consequently, opt for a broker equipped with the requisite tools for in-depth market analysis, allowing you to harness this volatility.
3. Determine your trader profile: Are you a novice taking your initial steps in the crypto world, or a seasoned player aiming for significant returns? Beginners ought to seek out Dogecoin exchanges that offer an intuitive trading interface, whilst experts should gravitate towards platforms that furnish a comprehensive array of technical indicators for their analyses.

Vetting Our Recommended Brokers

Before recommending the brokers, we employ the following vetting system.

1. First-hand testing: Our experts create an account on the platform by ourselves to check the withdrawal and deposit times.
2. Reviewing the investment portfolio: We study the portfolio of the most popular traders on the platform to see if their approach aligns with the market fundamentals.
3. Assessing the payment requirements: We analyse the payment methods that brokers employ and the fee they ask for trading crypto on the platform.
4. Assessing the terms and conditions: Our legal content experts check the terms and conditions to learn if there is an ambiguity in the rules specified by the Dogecoin broker.

Our vetting process also involves your feedback. We take your feedback into account and use your experiences to fine-tune our vetting system. We do that because it is important for new investors to dive into the crypto market as safely as possible.

Crypto markets are still not fully regulated, and scams are rampant. Therefore, it is important to choose an expert-vetted platform. To know more, check out our list of the best cryptocurrency trading platforms.

What to Know Before Buying Dogecoin?

Before venturing into Dogecoin, here are four crucial insights you should familiarise yourself with:

1. Dogecoin is inherently speculative, possessing a confined practical application. Owing to this, its value can experience substantial shifts within a single day.
2. Prioritise review platforms that furnish an impartial perspective on the crypto exchanges that facilitate Dogecoin transactions.
3. Dedicate time to conduct thorough research and grasp the core market principles related to Dogecoin.
4. Regularly consult cryptocurrency charts prior to acquiring Dogecoin. A diminished value often signals a more opportune moment for purchase.

Alternative Methods for Buying Dogecoin

While buying Dogecoin using Paytm is a popular option, there are also other ways to purchase this cryptocurrency. Let’s explore some of the alternatives to buying Dogecoin using Paytm:

PayPal

An increasingly popular method for buying Dogecoin is through PayPal, a widely accepted digital payment platform known for its security and convenience. If you already have a PayPal account, you can seamlessly integrate it with platforms like AvaTrade, to buy Dogecoin with PayPal. Notably, Elon Musk, an influential figure in the crypto world due to his endorsement of Dogecoin, co-founded PayPal, bringing an interesting connection between the two. To buy using PayPal:

1. Ensure your PayPal wallet has Bitcoin or sufficient balance.
2. Connect with a Dogecoin-supporting exchange like Libertex.
3. Transfer funds or Bitcoin from PayPal to the chosen exchange.
4. Once the funds are deposited, proceed to buy Dogecoin.

It’s essential to note the potential fees associated with using PayPal and to choose exchanges with good track records to avoid any complications.

Credit or Debit Card

You can buy Dogecoin in India and abroad using your credit or debit card on various cryptocurrency exchanges. Some popular options include Libertex, Admiral Markets, and AvaTrade. To buy Dogecoin using your card, you’ll need to create an account on one of these exchanges and go through a verification process. Once you’ve verified your identity, you can link your credit or debit card and purchase Dogecoin directly.

1. • Credit Card: Buying Dogecoin with a credit card is a popular option for many investors because it’s fast and convenient. However, keep in mind that credit card transactions may be subject to higher fees and interest rates than debit card transactions.
   • Debit Card: Buying Dogecoin with a debit card is another option that can be more cost-effective than using a credit card. When using a debit card, you’ll be spending money you already have in your bank account, which can help you avoid accumulating debt.

Bank Transfers

Another option is to buy Dogecoin using a bank transfer. This process is similar to buying Dogecoin using Paytm, but instead of using your Paytm account, you’ll use your bank account to transfer funds. Some popular exchanges that allow bank transfers include Coinmama and Bitit.

P2P Exchanges

Peer-to-peer (P2P) exchanges allow you to buy and sell Dogecoin directly with other individuals. These exchanges often offer a wider range of payment options, including bank transfers, PayPal, and even cash.

Regardless of which option you choose, it’s essential to do your research and choose a reputable exchange or platform. Keep in mind that each payment method may have different fees, processing times, and minimum purchase amounts. It’s also important to remember that the value of Dogecoin can be volatile, so it’s crucial to monitor the market and make informed decisions when buying or selling.

In conclusion, while Paytm is a popular way to buy Dogecoin in India, there are also other options available. By exploring these alternatives and choosing the payment method that works best for you, you can purchase Dogecoin with ease and join the growing community of Dogecoin investors.

Invest Responsibly in Dogecoin

Dogecoin, as a cryptocurrency, is characterised by its pronounced volatility, often witnessing significant surges and dips within a single day. As such, caution is paramount when committing your hard-earned funds to Dogecoin investments. Prior to venturing, evaluate your risk appetite comprehensively. Maintain vigilant oversight of your financial allocation, and consistently study the core market dynamics surrounding Dogecoin. Such diligence will guide you on optimal withdrawal and selling moments to optimise your returns.

Conclusion

We have covered everything from where to buy Dogecoin to how to Buy it in this guide. Crypto markets are volatile, and Dogecoin is a speculative asset. Understand these realities before you invest, and be mindful of the Dogecoin broker you choose.

India’s leading digital payments platform Paytm strode big towards embracing cryptocurrencies by allowing users to transact in crypto assets. Such has enabled popular CEXs and DEXs to facilitate the purchase of crypto coins, even altcoins, functioning via P2P lending mechanisms. Notable exchanges that offer Paytm support include Admiral Markets, AvaTrade, and Libertex.

Key Takeaways:

1. Dogecoin is an extremely speculative asset.
3. You can buy Dogecoin with Paytm on P2P trading platforms.
4. You must conduct your own research and review the market fundamentals before investing.
5. Only invest the amount that you can afford to lose.

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