How Can You Buy Dogecoin with USD in the USA in 2017?

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.