There are literally few options for buying Dogecoin with PayPal.
This is because only a few cryptocurrency exchanges accept PayPal payments.
The safest and cheapest way to do it would be to buy bitcoins using PayPal first and then convert or trade these coins with the dogecoins.
Before discussing the method to buy dogecoins with PayPal, let’s discuss Dogecoin itself first.
What is Dogecoin?
Dogecoin is one of the oldest cryptocurrencies, which came out as a joke in the first place. But soon, it gained a lot of traction and a loyal community, and now it has become one of the most popular cryptocurrencies.
Dogecoin was first introduced in 2013. Programmers from Portland named Billy Markus and Jackson Palmer created the first Dogecoin in December 2013, eventually gaining a large online following.
Dogecoin is well known around the globe for its meme-inspired logo of the Shiba Inu dog.
Purpose of Dogecoin
As Dogecoin was first created as a joke currency, it was fun to buy Dogecoin. But over time, the online community began to use Dogecoin as a form of tipping to other users for their content on forums like Reddit.
This form of tipping them became the sole purpose of Dogecoin. Since its creation, doge has also been used to donate money to charities and trade online.
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Will Dogecoin be the Future Coin?
Although Dogecoin cryptocurrency does not have any particular advantages over other coins, the adoption it collected throughout the years makes it look like stating here for quite a long time.
Buy Dogecoin with PayPal
You can buy Dogecoin with PayPal using a cryptocurrency exchange liking as with e-Wallets like Neteller and Skrill. You will need only for steps simple steps to follow to complete the trade.
Open an Account
Open an account on eToro to buy Dogecoins. It is very convenient to use as it offers commission-free trading with a wide range of deposit methods. Click “Join Now” to open a new account on eToro.
eToro will ask to verify your identity. You can verify your ID by uploading a copy of your driver’s license or passport.
Once your identity gets verified, you can quickly deposit funds there. For eToro, there is a deposit limit of 50$ for US inhabitants and 200$ for most other countries.
And you can pay using different methods, including a debit card, credit card, PayPal, Neteller, Skrill, and bank transfer.
Search “Dogecoin” in the bar and select “Trade” when Dogecoin appears. Finally, enter the amount you wish to purchase (at least 25$). Click “open trade” to buy Dogecoin.
Buy Dogecoin with Bitcoins
Buying Dogecoin with PayPal is tricky. Cryptocurrency exchanges rarely accept PayPal. The reason is that users can report the transactions to PayPal and have their money back then. And obviously, exchanges do not want people to steal their cryptocurrency.
But there are some ways to buy Dogecoin using PayPal. And for that, the safest way is to buy bitcoins by using PayPal first. Exchanges such as LocalBitcoins often have traders willing to accept PayPal, but it is shocking how much they charge for the service.
Steps for Buying Bitcoins Using PayPal
- Go to the official website of Local Bitcoins.
- Sign up there for free.
- After login, select the link that says “buy bitcoins” by using the option PayPal. You will see that the price is much higher than the usual market prices. This is because PayPal traders often get scammed. Therefore, they need to compensate by keeping prices higher than usual.
- After finalizing the transaction, you must withdraw your Bitcoins to websites like Binance (an exchanger site).
- You can then trade your Bitcoins for Dogecoins by using a Binance exchanger. And for that, a simple procedure is all you can follow.
- To convert your BTC to Doge, copy your Binance address and paste it at the LocalBitcoins site.
Dogecoin seems to be slightly different from all other cryptocurrencies.
It has not been created as a deflationary currency as the supply is always getting more significant. Dogecoin serves a beneficial purpose, just like all the other cryptocurrencies today.