Dogecoin is a cryptocurrency that started as a joke but gained immense popularity over the years. By 2017, many investors wanted to learn how they could buy Dogecoin with USD in the USA, capitalizing on its growing fame. In this article, we will explore the methods to purchase Dogecoin, the platforms available, and tips for keeping your investment safe.
Understanding Dogecoin and Its Popularity
Originally created in December 2013 by software engineers Billy Markus and Jackson Palmer, Dogecoin was based on the popular “Doge” meme featuring a Shiba Inu dog. Initially set up as a tipping system on social media, it quickly transformed into an active online community where users could exchange the coin for goods and services. By 2017, Dogecoin had gained notable traction in the cryptocurrency market, making it an appealing option for investors.
How to Buy Dogecoin with USD
To buy Dogecoin with USD in the USA, you need to follow a series of steps. Here are some of the popular methods to purchase Dogecoin:
1. Cryptocurrency Exchanges
Cryptocurrency exchanges are perhaps the most effective way to buy Dogecoin.Here’s how to get started:
- Choose an Exchange: Select a reputable cryptocurrency exchange that supports USD and Dogecoin pairing, such as Coinbase, Binance, or Kraken.
- Create an Account: Sign up with your email and create a secure password. You may need to verify your identity, which often requires submitting a government-issued ID.
- Deposit USD: Once your account is verified, deposit USD using a bank transfer, credit card, or another method supported by the exchange.
- Trade for Dogecoin: Search for Dogecoin on the exchange’s trading platform and place an order to buy it with your deposited USD.
2. Peer-to-Peer platforms
Peer-to-peer (P2P) platforms allow users to buy Dogecoin directly from other individuals without intermediaries. Here are some steps to follow:
- Select a P2P platform: Use platforms like LocalBitcoins or Paxful that facilitate P2P transactions.
- Create an Account: Register and verify your identity as per the platform’s requirements.
- Search for Sellers: Find sellers who offer dogecoin for USD.
- Execute the Trade: Agree on a price and payment method, ensuring that the seller has a good reputation.
3. Cryptocurrency ATMs
Although less popular,cryptocurrency ATMs offer a convenient way to buy Dogecoin directly with cash. Here’s how to use one:
- locate an ATM: Use websites or apps that track cryptocurrency ATM locations near you.
- Check Supported Coins: Confirm if the ATM allows you to purchase Dogecoin.
- Provide Cash: Insert cash and follow the on-screen instructions to purchase Dogecoin.
- Receive Your Dogecoin: After the transaction is confirmed, you will receive a paper receipt or a wallet QR code to access your newly purchased Dogecoin.
Keeping Your Dogecoin Safe
Once you’ve purchased Dogecoin, securing your investment is crucial. Here are some recommendations to ensure safety:
- Use a Secure Wallet: Store your Dogecoin in a secure wallet. hardware wallets offer the best protection compared to software or exchange wallets.
- Enable Two-Factor Authentication (2FA): Always opt for 2FA on your accounts to enhance security.
- Be Wary of Scams: Stay vigilant against phishing emails and websites that impersonate legitimate platforms.
In summary, whether you’re looking to buy Dogecoin from an exchange, engage in peer-to-peer transactions, or use an ATM, itS essential to follow these steps carefully and prioritize the security of your investment.
FAQs
1. Is it safe to buy Dogecoin?
Yes, buying Dogecoin can be safe if you use reputable exchanges and wallets, enable strong security measures, and remain vigilant against scams.
2. what payment methods can I use to buy Dogecoin with USD?
Common payment methods include bank transfers, credit cards, PayPal, and cash via ATMs or peer-to-peer platforms.3. How can I store my dogecoin securely?
You can store Dogecoin securely in hardware wallets, which are offline devices providing high security. Software wallets and exchange wallets can also be used but might potentially be less secure.
By following the above steps and recommendations, you can easily buy dogecoin with USD in the USA in 2017 and beyond, while ensuring your investment stays secure.