How_to_Buy_and_Trade_Dogecoin

okxapp (33)in #edgex • 13 days ago

The surge in Dogecoin's popularity is undeniable. Over the past year, its remarkable 161-fold increase has captivated investors—if you had invested 10,000 RMB in Dogecoin a year ago, it would now be worth 1.61 million RMB.

These extraordinary returns quickly propelled Dogecoin to the top of Weibo's trending charts and ignited widespread discussion. This guide provides a detailed walkthrough on purchasing Dogecoin. Before diving into the steps, let's briefly explore what Dogecoin is. Like Bitcoin, Dogecoin (coded DOGE) is a cryptocurrency, originally inspired by an internet meme. It has evolved into a unique ecosystem through community culture, social spread, and practical applications. Using Binance as an example, we'll outline the process for buying and trading DOGE to help new investors get started swiftly.

1. How to Buy Dogecoin? Step-by-Step DOGE Purchase Guide

Dogecoin is available on over 120 global exchanges, including OKX, Binance, Huobi, and Gate.io. Below is the full process for purchasing DOGE via OKX. To buy DOGE, you first need USDT.
Visit the official OKX website—one of the world's top three exchanges, offering a 20% trading fee discount upon registration! New users also receive a free blind box with tokens worth $2–$8.

Click here to register your OKX account → or alternative link (VPN may be required in some regions)

Access the OKX site using the link above and enter your registration email:

Provide your phone number based on your location. For a domestic number, select the +86 country code, then input the 6-digit SMS code to verify:

After SMS verification, confirm your country or region (e.g., China). Click next and approve the popup:

Note: Ensure your region matches your ID or residence proof. Fill in accurately, agree to the Terms of Service/Privacy Policy, and proceed. Set a login password to access the dashboard:

Account registration is now complete, but identity verification is required for crypto transactions. Completing KYC earns a random blind box with up to 50 USDT rewards.

After registering, log in to trade USDT. Click 【Register】, select China, enter your email, and submit. Once registered, download the OKX app. Security warnings during installation are routine for crypto apps—ignore them if downloaded from the official site. Apple users may need an overseas Apple ID for App Store access; search Zhihu for setup instructions. After installation, purchase USDT as follows:

Buying and Selling USDT

With an OKX account, buy USDT via C2C trading or quick trade using RMB, or convert USDT back to RMB. Detailed steps:

1. On OKX, click 【Buy Crypto】 → 【C2C Buy】.
1. In the app, select 【Buy Crypto (C2C Buy)】 → 【Quick Trade】 → choose USDT → enter amount → select payment method (Alipay, WeChat Pay, or bank card) → transfer funds to the assigned seller.
1. Click the seller's 【Buy】, input the amount, choose payment, complete payment, then click 【I Have Paid】. After seller confirmation, USDT is credited.
  This converts RMB to USDT, a USD-pegged stablecoin. Check your balance under 【Asset Management】→【My Assets】. Transfer USDT to your trading account for token exchanges. In the trading interface, select 【Spot Trading】, choose a token pair, enter the amount, and execute the trade.

Buying DOGE with USDT

To convert USDT to Dogecoin (DOGE), tap "Trade" → "Spot" → select 【DOGE/USDT】. Enter the DOGE amount based on your USDT balance and click "Buy DOGE". To sell, input the amount and click "Sell DOGE". Use:

Limit Order: Set a target price for automatic execution at that level.
Market Order: Execute immediately at current prices for fast trades.
View your DOGE holdings under 【Asset Management】.

To sell DOGE for cash, use a market order to convert to USDT. Transfer USDT to your funding account, then use 【C2C Trading】 to exchange for RMB.

2. Is Dogecoin Still Worth Investing In?

Compared to Bitcoin, Dogecoin adopts a lighthearted, community-driven approach. Initially for online tipping and microtransactions, it aligned with American "tip culture" and gained rapid social media traction. Its low barrier and playful appeal made it the second-most-popular tipping crypto in the US within a week of launch.

Despite starting as a joke, Dogecoin's performance has exceeded expectations. Created by Jackson Palmer and Billy Markus, DOGE remained resilient during crypto downturns and is among the few projects to endure multiple market cycles.

Canadian crypto researcher Kevin Rooke highlights Dogecoin's high activity, noting that in December 2018, its daily active addresses surpassed December 2017 levels, ranking third after Bitcoin and Ethereum. Messari data shows DOGE had 72,955 active addresses per day, trailing only Bitcoin (536,738) and Ethereum (235,004), and far ahead of Tron (21,255).

Dogecoin also excels in daily trading volume—nearly 30,000 transactions totaling $264 million—demonstrating a robust, active network.

Kevin Rooke adds that DOGE's network throughput and transaction capacity outperform established cryptos like Bitcoin Cash, Litecoin, and Dash, solidifying its technical relevance.

3. Advice for Crypto Beginners

Dogecoin boasts a unique "personality"—absurd, humorous, and community-centric—that resonates with the "meme community" culture challenging traditional finance. Elon Musk's endorsements have amplified its market visibility.

With a low entry barrier, Dogecoin is accessible for ordinary investors and offers growth potential. Its lower market cap reduces trading costs and manipulation pressure, appealing to retail traders. However, some veterans remain cautious, citing limited real-world use beyond tipping and modest performance in recent DeFi trends.

Nonetheless, DOGE has transformed from a joke into a significant investment force. For beginners, understanding its mechanics and purchase process is the first step into crypto.

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