How to Buy Dogecoin with Paytm6-min read

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.

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. 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 decentralized 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 March 2023

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.

1. Binance: the most renown Dogecoin broker in India
2. Libertex: best for Crypto-to-Crypto Dogecoin Swapping
3. WazirX: best for first-time crypto investors
4. Huobi Global: a deeply liquid Dogecoin broker

Binance: The Best Dogecoin broker in India

Binance is the world’s biggest cryptocurrency exchange, and with its partnership with WazirX, is India’s favourite crypto trading platform. It has upwards of 120 million users and a 24-hour trading volume of $76 billion. 15 million out of those investors are Indian traders. That is why to provide an inclusive trading experience for traders like yourself, Binance P2P supports 51 payment methods. But if you want to buy Dogecoin using a card, you can do so even on the standard trading exchange.

Another big reason why Indian investors rely on Binance is security. Being the world’s most liquid cryptocurrency exchange, Binance has implemented many security measures, from standard 2FA to advanced whitelisting and insurance policies, to protect users’ assets. Binance has also kept the fees low. If you want to swap another crypto for Dogecoin, you only need to pay a 0.10% fee, and you can reduce it if you have BNB tokens in your wallet.

Libertex: Best for Crypto-to-Crypto Dogecoin Swapping

What sets Libertex apart from all other brokers lies in the simplicity of its UI, rendering even the most complex mechanisms entirely easy to use even to the newest traders. Libertex customers can buy Dogecoin through MetaTrader4. Regardless of their experience level, Libertex makes it incredibly easy to catch, thus being the first broker to take an active stand in giving those new to crypto trading a boost. Apart from its impeccable user experience, new and veteran Libertex customers alike are given special prizes that very few brokers would dream of giving away, such as the change to win 500 BTC from their recurring, now-famous draw, or a new Tesla, or iPhones, or some truly remarkable cash incentives.

How to buy Dogecoin with Paytm in India

Here are the steps to buy Dogecoin with Paytm in India:

1. Choose a suitable Dogecoin Broker.
2. Create a crypto account.
3. Deposit the funds in the account.
4. Search for Dogecoin.
5. Buy Dogecoin.

Here is a detailed explanation of the steps:

1. Choose a suitable Dogecoin Broker: Research and select a Dogecoin broker that fits your requirement. Ensure the broker has a secure platform and a hassle-free trading experience.

2. Create a crypto account: Go to the official website of the said broker and create a crypto account. It will ask you to provide a username and password in the first phase of signing up. In the second phase, you must provide the KYC documents.

3. Deposit the funds in the account: Log in to the Dogecoin broker you have chosen and go to your dashboard. Find the “Deposit” button and use Mastercard or Visa debit/credit card to deposit the initial amount. Most brokers also offer bank transfers, ACH transfers, Google Pay, Apple Pay, and Paytm to fund the account.

4. Search for Dogecoin: Go to the search bar of the Dogecoin broker and search for Dogecoin.

5. Buy Dogecoin: Select Dogecoin, and you will land on the Dogecoin trading page. Select the amount of Dogecoin you want to pay and pay using credit/debit cards, bank transfers, or a Paytm wallet.

KYC and Verification

Most centralized 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.

Buy Dogecoin with Paytm on Binance

Here are the steps to buy Dogecoin with Paytm on Binance
1. Go to Binance.
2. Register your account.
3. Hover the mouse over Buy Crypto.
4. Select P2P Trading.
5. Select Dogecoin in the “Buy” section.
6. Enter the amount of INR you want to spend to buy Dogecoin.
7. Select Paytm as your Payment method.
8. Select the seller location; by default, all regions are selected.
9. Place a P2P order.
10. Send money to the seller.
11. After the seller confirms receiving money, you will get your Dogecoin.

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 Right Dogecoin Exchange for You

Here are the points to keep in mind when choosing a broker.

1. Find out your trading requirements. You must know what your trading requirements are. Dogecoin is a speculative asset. So, are you looking to invest in it as a long-term investment or only want to make quick gains from intra-day trading?
2. What are you expecting from the crypto market? The crypto market is extremely volatile, capable of reaching parabolic highs and lows within the same day. Therefore, choose a broker that lets you capitalize on that by providing the right tools to analyze the markets.
3. What level of trader are you? Are you a beginner dabbling in the crypto markets for the first time or a veteran looking to make big gains? First-timers should look for Dogecoin exchanges that have a simple trading interface. On the other hand, veterans must find a Dogecoin exchange that puts all the technical indicators at their disposal.

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 analyze 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.

Automated Dogecoin Trading: A Revolutionary Technology

In today’s fast-paced trading world, crypto trading robots are game-changing innovations. With this technology, you can automate trades without any manual intervention, allowing you to stay ahead of the curve. This innovation has already been leveraged by companies like BlackRock to stay ultra-rich, even in the global market’s downturn.

With the latest advancements in machine learning technology, crypto trading bots can accurately predict market trends, making it critical for volatile cryptocurrencies like Dogecoin, especially for day traders. These bots react instantly to market changes and help intra-day traders get the most benefit from the crypto market’s volatility.

Dogecoin Millionaire is a top-performing trading bot that predicts Dogecoin market fluctuations and makes optimal investments at the most strategic time. New registrations are currently limited due to high demand, but you can sign up instantly by clicking here to bypass the waiting times.

The Mechanism Powering Crypto Trading Bots

How do crypto trading bots work? They execute trades on behalf of the 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. Bots can also monitor market conditions and execute trades 24/7, making them useful for traders who cannot monitor the market all the time. These bots can backtest trading strategies using historical data to assess their performance and refine them.

Our experts have tested the top crypto trading bots for safety, usability, and accuracy. However, it’s important to assess the bots before signing up, as this technology is still new. For more information, you can explore the crypto bots available in the Indian crypto market on our review site.

Best Dogecoin Trading Bot for March 2023

Our top-performing bot for March 2023 is Dogecoin Millionaire. The bot has consistently passed our vetting process over six months, from multiple test accounts, as the most reliable Dogecoin trading bot on the market. It has successfully foretold several small Dogecoin price surges, generating considerable ROI accordingly.

What to Know Before Buying Dogecoin?

Here are the four things you must know before buying Dogecoin.

1. Dogecoin is a speculative asset with a limited use case. Due to that, its value fluctuates drastically in one day.
2. Focus on review sites that offer an unbiased view of the crypto exchanges that support Dogecoin.
3. Do your own research and understand the market fundamentals around Dogecoin before investing.
4. Always watch the crypto charts before buying Dogecoin. The lower the value, the better time it is for you to buy Dogecoin.

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:

1. 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 and Binance. 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.
   • 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.
2. Bank Transfer: 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.
3. 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. Some popular P2P exchanges include Binance and Libertex. The former is available for US customers, whilst the latter is available for Indian customers. Nonetheless, regardless where you live in the world, you could always use a VPN to bypass such restrictions.

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.

Investing Responsibly

Dogecoin is a volatile cryptocurrency capable of achieving enormous highs and lows within the same day. Therefore, be careful when you invest your hard-earned money on Dogecoin. Always assess your risk tolerance before investing. Keep an eye on the bankroll and research the market fundamentals around Dogecoin. It will let you know when to withdraw and sell to maximize your returns.

Latest Updates

According to blockchain analytics firm IntoTheBlock, the majority of Dogecoin (DOGE) holders are currently profitable, while the majority of Shiba Inu (SHIB) holders are underwater. About 56% of DOGE holders are profitable, with 34% experiencing losses and 10% breaking even. Meanwhile, only 29% of SHIB holders are in profit, with 67% underwater. DOGE is currently trading at $0.075, down more than 24% from its 2023 high of $0.099. SHIB is worth $0.000011, down more than 31% from its high this year of $0.000016. Shibarium, the highly anticipated layer-2 scaling solution for the Shiba Inu ecosystem, recently went live in beta form.

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 Binance and Libertex.

Key Takeaways:

1. Dogecoin is an extremely speculative asset.
2. Binance and Libertex  are the most reliable and popular Dogecoin brokers in India.
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.