How to Buy Dogecoin with Paytm8-min read

Prateek Arora

Prateek Arora |  Updated on 19/8/2023

 Dogecoin

Dogecoin

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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.

CoinBharat artwork of a beautiful Indian woman buying cryptocurrencies on her phone

In This Guide:

  1. Introduction to Dogecoin
  2. Where to Buy Dogecoin in India – Best Dogecoin Brokers for February 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 February 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.

CoinBharat artwork of a beautiful Indian woman buying crypto tokens in a futuristic setting, cosplaying as the Dogecoin Shiba Inu dog masco

Admiral Markets Review

Admiral Markets Review

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Pros

  • list bullet Over 40,000 active clients from 110+ countries, carrying out an average of 1.5 million trades per year.
  • list bullet Competitive spreads as low as 0.5 pips and up to 500:1 leverage for forex trading.
  • list bullet Provides access to over 8,000 trading instruments, including 40+ forex pairs, 200+ stocks, and 5+ cryptocurrencies.

Cons

  • list bullet Admiral Markets has relatively high minimum deposit requirements for some account types, such as those in GBP.
  • list bullet Some users have reported slow response times from customer support, during excessively busy periods.
Libertex Review

Libertex Review

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Pros

  • list bullet 0% fees on stock trades, minimum deposit of only $10 or equivalent
  • list bullet Over 322 tradable assets available
  • list bullet Unmatched user-friendly interface, easy for beginners to catch on

Cons

  • list bullet Unavailable in some countries, including the United States
  • list bullet Only features two types of accounts (Demo and Standard)
AvaTrade Review

AvaTrade Review

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Pros

  • list bullet Swift Account Setup: Account activation in approximately 5 minutes with an efficient digital process.
  • list bullet Robust Support & Education: 24-hour multilingual support and comprehensive educational resources through AvaTrade Academy.
  • list bullet Diverse Investment Products: Over 1,260 tradeable symbols, including Forex and cryptocurrency CFDs.

Cons

  • list bullet Withdrawal Timeframe: Although competitive, withdrawals can take up to two business days.
  • list bullet Mobile App Features: While AvaTrade's mobile apps are innovative, they lack some advanced features compared to other industry leaders.

Admiral Markets: Get a 100% Welcome Bonus on Your First Deposit

Admiral Markets logoAdmiral Markets is a stock and forex trading platform that also offers cryptocurrency trading, including Dogecoin. The platform is accessible to customers from both the US and India, providing a convenient way to buy and sell cryptocurrencies using Paytm.

One of Admiral Markets’ key USPs is its competitive exchange rates for Dogecoin, allowing users to get the most value for their money. The platform charges a commission of 0.1% for trading cryptocurrencies, which is lower than the industry average. Additionally, Admiral Markets provides a transparent fee structure, ensuring users are aware of all fees before making a trade.

Admiral Markets also prioritises the security of its users’ funds and personal information. The platform uses SSL encryption to protect data and offers two-factor authentication for added security. Admiral Markets is also regulated by top-tier financial authorities, including the FCA and ASIC, ensuring compliance with strict security standards.

Moreover, Admiral Markets provides a user-friendly platform with advanced trading tools, including customisable charts, technical analysis, and real-time market updates. The platform offers educational resources and customer support to assist users in making informed trading decisions.

In conclusion, Admiral Markets’ competitive exchange rates, transparent fee structure, high security standards, and user-friendly platform make it an excellent choice for customers looking to buy Dogecoin.

 

Libertex: Best for Crypto-to-Crypto Dogecoin Swapping

Libertex is a popular cryptocurrency trading platform that offers its customers the ability to buy and sell Dogecoin using Paytm. One of the platform’s key USPs is its 100% welcome bonus on the customer’s first deposit, which effectively doubles their investment funds for free.

In addition to the welcome bonus, Libertex provides its customers with competitive exchange rates for Dogecoin, ensuring that they get the most value for their money. The platform charges a commission of 0.41% for trading cryptocurrencies, which is slightly higher than the industry average, but the competitive exchange rates more than make up for it.

Libertex also prioritises the security of its customers’ funds and personal information. The platform uses SSL encryption to protect data and offers two-factor authentication for added security. Moreover, Libertex is regulated by top-tier financial authorities, including CySEC, ensuring compliance with strict security standards.

Furthermore, Libertex provides a user-friendly platform with advanced trading tools, including custom-made charts befitting the user’s input, technical analysis, and real-time market updates. The platform also offers educational resources and customer support to assist users in making informed trading decisions.

In conclusion, Libertex’s competitive exchange rates, high security standards, and user-friendly platform make it an excellent choice for customers looking to buy Dogecoin with Paytm. The 100% welcome bonus offered by the platform is a particularly attractive incentive for new customers, effectively doubling their investment funds for free.

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:

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.

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.

paytm artwork

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.

Dogecoin tokens

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

Pros

  • list bullet

    Hassle-free process.

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    No need to enter the account details.

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    Fast transaction.

Cons

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    Only available on a few exchanges.

  • list bullet

    Mostly valid in P2P exchanges.

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.

CoinBharat artwork of an Indian woman buying crypto tokens in a futuristic bar

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.

Buy Dogecoin in India

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 Libertex 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.

    • 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. 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.

CoinBharat artwork of an Indian beauty in a futuristic server room used to mine cryptocurrencies

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.
2. Admiral Markets, AvaTrade, 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.

FAQs

How to buy Dogecoin in India?

You can buy Dogecoin in India at the crypto exchanges that support Dogecoin. You can either buy Dogecoin using fiat or swap it for another crypto.

Where to buy Dogecoin in India?

You can Dogecoin in India on many crypto exchanges. The best Dogecoin brokers in India are Binance, Libertex, and WazirX.

What can I buy with Dogecoin in India?

You can swap Dogecoin for other cryptocurrencies on Libertex.

Can I use Paytm to buy Dogecoin in India?

Yes, you can use Paytm to buy Dogecoin in India on Binance. It is a P2P exchange that allows you to buy Dogecoin using 351 different payment methods, including Paytm.

What are the best exchanges to buy Dogecoin from?

The best exchanges to buy Dogecoin in India are Libertex, and Binance. They offer a wide array of payment options to buy Dogecoin, including PayPal and Paytm.

Is Dogecoin safe?

Dogecoin is a memecoin – and a volatile one at that. It is also a hyperinflationary cryptocurrency. Whether it is safe or not depends on the type of investor you are.

Should I buy Dogecoin now?

At the time of writing, Dogecoin is volatile. Find a low price suitable for you, and then buy Dogecoin.

Why invest in Dogecoin?

Dogecoin is a volatile crypto asset with enormous short-term upsides. So, if you are an intraday trader, invest in Dogecoin.

What are the pros of buying Dogecoin?

Dogecoin is a speculative asset capable of generating profits by manifolds depending on the community's response. Many vendors across the globe accept Dogecoin as payment.

Is Dogecoin a good investment?

Dogecoin is a good investment for short-term and social media-savvy traders. However, it has a limited use case for now. If the project evolves, it will become a worthier investment.

How to buy Dogecoin online?

You can buy Dogecoin online at the cryptocurrency exchanges that support it.

When is the right time to buy Dogecoin?

The right time to buy Dogecoin is when the Dogecoin price is low.