Buy Dogecoin Without Fees 2023: Is it Possible? Explained

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It is possible to buy Dogecoin without fess in any of the transaction fees that are charged by various exchanges. Let's find out how. There are many different ways in which you can buy Dogecoins, but all of them involve setting up an account on a cryptocurrency exchange like Bittrex or Poloniex.

Once you have created an account, you will need to send some Bitcoin (BTC) over to your account before you are able to purchase any of the other cryptocurrencies that are supported on the exchange.

However, there is one site where you can buy Dogecoin directly with fiat currency without ever having to worry about paying transaction fees or being subject to the volatility of the cryptocurrency markets.

Yes, you can buy Dogecoin without any fees with apps like Voyager. Also, they offer Dogecoin to USD conversion with no charge. But on the other hand, there are other apps where you can buy Dogecoin with a low spread.

Let Us Understand How To Buy Dogecoin Without Fees At These Apps.

1. Voyager:

Voyager is an app for buying and selling cryptocurrencies without any fees. It's easy to use, with no sign-ups or complicated processes involved.

You do not need to share your personal details if you don't want to; all you need is a wallet address (to receive your cryptocurrency) and some cash. Voyager also offers the ability to buy and sell cryptocurrencies with over 80 different fiat currencies.

Voyager

How To Buy Dogecoin With Voyager?

  1. Download the app from the Google Play Store or Apple store.
  2. Verify your account with a photo of your ID or by connecting your Facebook/Google+ account.
  3. Add some cash to your account.
  4. Deposit or withdraw cryptocurrencies from your Voyager account at any time, as per your convenience.
  5. Please note that fiat currency added into the Voyager is converted into USD value.
  6. Once you have added cash and crypto balances are updated, select the cryptocurrency you want to buy/sell, and click on "Buy" or "Sell."
  7. On the next page, select the cryptocurrency pair you want to invest in. In this case, we will be purchasing Dogecoin using Ethereum.
  8. Select the amount of Dogecoin you wish to purchase and click on 'Confirm Buy.'
  9. Once your order is confirmed, you can view your updated balance on the top of the screen.
  10. To withdraw Dogecoin from Voyager to a different wallet address, please click on 'Edit' next to the "Withdraw" option. Enter the wallet address and the amount of DOGE you wish to send. Click on the checkmark, then confirm the withdrawal.

You Can Also Withdraw Dogecoin From Your External Wallet Address

  1. Choose the cryptocurrency you wish to sell, and select the amount of crypto you want to convert it into. In this case, we will be selling Ethereum for USD.
  2. On the next screen, you will see details regarding your transactions, such as current market rates and crypto amount.
  3. Once you click "Confirm," your transaction will be processed instantly, and you can see the updated balance at the top of the page. You don't have to pay any commission or service fee for trading cryptocurrencies. This is a free service with a low spread from the Voyager app.

Voyager is currently available only in the USA.

2. Robinhood:

Robinhood is a free app that lets you buy and sell cryptocurrencies. It charges no commission fees, which means you are getting the most out of your investment every time you trade!

Robinhood is a no-fee online brokerage that was launched in 2013. The company is headquartered in Menlo Park, California, and offers trading of stocks, ETFs, options, and cryptocurrencies on its platform. In 2018 it announced plans to expand into banking services, providing checking and savings accounts at some point this year.

robinhood

Robinhood is the commission-free broker that's making online trading easier and more affordable than ever before. With no hidden fees or commissions, you can invest in your favorite stocks and ETFs without breaking the bank. Robinhood's cutting-edge technology makes it easy to stay on top of your portfolio no matter where you are.

How To Buy Dogecoin With Robinhood?

  1. Download the Robinhood app from Google Play or Apple stores.
  2. Verify your account by answering some questions about yourself, like your name and email address, etc.
  3. Once you verify your account, you can add a payment method. You could use your debit card for this process.
  4. Now that you've added a payment method, you can buy cryptocurrencies like Dogecoin with Robinhood!
  5. Go to the "Cryptocurrencies" tab and select which cryptocurrency you want to buy. In this case, we will be buying DOGE using Ethereum.
  6. On the next screen, you'll see details of your transaction, along with the current market price of DOGE.
  7. Once you hit "Confirm Buy," your order will be processed, and you'll see updated balances on the page.
  8. To withdraw Dogecoin from Robinhood to a different wallet address, open up your cryptocurrency portfolio by clicking on 'Cryptocurrency Portfolio' in the top right corner of your screen.
  9. On your cryptocurrency portfolio page, select Dogecoin from the list. Now that you have selected Dogecoin, click on 'edit' next to "Withdraw," and then enter the wallet address and amount that you want to withdraw. Click on "Submit," and then check to make sure that you entered the correct information.
  10. Once you click "Submit," your withdrawal request will be processed instantly, and your updated balance will appear at the top of the page.

3. Coinbase:

Coinbase is among the world's most popular bitcoin wallets. Coinbase was started in 2012 and offers both a wallet service and an exchange for fiat currencies, as well as trading with cryptocurrencies. It has many of the same features as eToro, such as instantly buyable cryptos, customer support, and more.

It also doesn’t allow traders from certain countries, including the US. It’s important to note that Coinbase holds all crypto assets in cold storage and provides its users with insurance protection for hacked funds.

However, Coinbase charges a 1.49% fee per trade, which can be very expensive compared to other exchanges, and doesn’t offer copy trading.

How To Buy Dogecoin With Coinbase?

  1. Sign up with Coinbase and verify your email address. Click on "Sign Up" in the upper right corner of the screen to begin the registration process. Once you have verified your email address, click "Buy" in the upper left corner of the screen.
  2. On the next page, select "Ethereum" and click on "Add Card."
  3. Enter your credit/debit card information and choose your billing country. If you want to use a different payment method other than a credit or debit card, click on "Add Another Payment Method." You can add your bank account details instead of a credit/debit card.
  4. On the next screen, you'll see the total cost of your order and all of the details regarding your purchase.
  5. Once you have confirmed the transaction, click on "Buy Ethereum Instantly."
  6. Your Ethereum will now be added to your Coinbase account. Just like with Robinhood, you can either keep your Ethereum on the exchange or withdraw it to an external wallet address. If you decide to withdraw it to another address, click on "Accounts" in the upper right corner of the screen and select which currency you wish to withdraw.
  7. Proceed to the "Send/Request" tab, and enter the wallet address of your recipient along with the amount you wish to send them. Make sure that if you are sending Ethereum (ETH), it is not being sent from Coinbase directly since sending ETH from Coinbase will result in a loss of funds. Once you have confirmed your payment details, click "Confirm and Send."
  8. Your recipient will receive the funds you sent them, usually within a few minutes.
  9. To withdraw Ethereum from Coinbase to another wallet address, select ETH in your "Accounts" list. Next, enter the amount of ETH you want to send along with your wallet address in the "Recipient" box. Make sure to double-check all of your details before sending.
  10. Once you have confirmed the transaction, click on "Send Funds." Your funds should arrive shortly.

4. eToro:

eToro is a social trading service that allows people to buy and sell cryptocurrencies. eToro is a forex broker that has been operating since 2007. eToro is regulated by the Cypriot Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and several other governing bodies, including Japan's FSA.

eToro was the first social investment network and had over 10 million users. The company is well-known for its user-friendly interface and its low transaction fees, especially when trading stocks.

eToro

What makes the platform so attractive to new investors is that you can copy trades from more experienced traders, meaning that if successful traders made a large sum of money trading a particular stock or cryptocurrency, you can copy their trade and receive the same returns.

eToro allows traders to trade on currency pairs, commodities, and indices. Traders looking to invest in stocks can also do so through eToro, as it offers a range of stocks from Apple Inc. (AAPL) and Tesla (TSLA) to the likes of Netflix (NFLX) and Google (GOOGL), Boeing (BA), and more.

How To Buy Dogecoin With eToro?

  1. First, sign up on the site and complete your account registration by entering your personal information. Verify your email address and then log in to your new account.
  2. eToro will require you to link your bank account (or, alternatively, credit card information). If you choose to link your bank account, you will need to go through a verification process. The entire verification process can take up to 24 business hours in the beginning but might be faster if it's your first time verifying with eToro.
  3. Once your eToro account has been verified, you will be able to deposit funds into your wallet. Go back to the homepage by clicking on "Home." You can then click on "Deposit" if you want to add USD or EUR into your account using a bank transfer or select the currency that you would like to deposit from the list on the top right corner of the screen.
  4. In order to buy Dogecoin using eToro, you first have to purchase a contract or investment that's tied to a specific altcoin. eToro offers several different types of contracts, and each one holds a different amount of risk, so it's up to you which contract you want to buy.
  5. Once your purchase has been completed, the clock starts ticking, and your amount of Dogecoin will start increasing or decreasing depending on how well that particular altcoin is doing against the USD during that time period. If it's going up, then your investment value will increase as well. If it's going down, then your investment value will suffer as well.

Is It Safe To Use These Platforms?

Buying cryptocurrencies is generally safe. However, the most secure way to store your cryptocurrency is by using a hardware wallet. A hardware wallet will allow you to securely store your coins off of an exchange on a device that only you have physical access to.

Exchanges are more prone to being hacked than individual user accounts because the hacker only needs to find one vulnerability to exploit.

However, exchanges also represent a more convenient way of storing your altcoins because they will allow you to trade them more quickly, unlike storing cryptocurrency on an individual wallet that takes much longer to access.

Even though these platforms are regulated by governing bodies that have been known to work with the cryptocurrency community, you might want to diversify where you store your Dogecoin in case anything goes wrong. Lastly, never share your private keys with anyone because this could compromise the security of your account.

If a website or a person asks you to provide your private keys, then it is most likely a scam. This is especially true if they ask for it through an email or by clicking on a link. It's safe to say that the only time anyone should share their private keys with someone else is if they are looking for help recovering an account because they've forgotten their login information.

It's important not to leave any funds on an exchange because if they get hacked, then you're putting yourself at risk. Also, exchanges aren't meant for holding cryptocurrency because they don't offer any security measures to your account.

If an exchange ever gets hacked, it could result in the loss of all of the funds that were stored on that platform. In some cases, there has been no way to recover those lost funds as well.

What Is Dogecoin?

Dogecoin is an alternative currency that was created with the intention of reaching a broader demographic than Bitcoin. Dogecoin works in a similar way to Litecoin and Ethereum in the sense that it's mined and traded through cryptocurrency exchanges, but there are some key differences.

To start with, Dogecoin has significantly lower transaction fees because its mining algorithm uses different parameters. In addition, Dogecoin has a higher coin supply, and it's been around for a much shorter time period than both Litecoin and Ethereum.

what is dogecoin?

These factors have led to Dogecoin being more widely used as a day-to-day payment method rather than an investment because of the lower fees associated with it.

It was created as a joke by Billy Markus and Jackson Palmer in late 2013. However, the popularity of this altcoin has led to several charitable campaigns being created with its emphasis on helping people in need.

What Is The Future Of Dogecoin?

Dogecoin is still very much alive and kicking, which you can tell by the number of online stores that accept it as a payment method. However, there are no clear-cut predictions on where Dogecoin will go in 2023, considering how young it is compared to its counterparts like Bitcoin and Litecoin.

It's safe to say that Dogecoin could have a very bright future ahead because of its active community and unique use cases. Much more coins can be mined due to the fact that Dogecoin uses a Scrypt mining algorithm, while Bitcoin and Litecoin use SHA 256. That means that it is more efficient to mine this virtual currency.

What is the future of Dogecoin?

Transaction time is extremely short, even if your computer isn't very powerful. In other words, as soon as the transaction is confirmed, it can be used. In comparison with Bitcoin, Dogecoin gives you superb speed and efficiency.

How Can I Earn Money With Dogecoin?

You can generate profit by using both long-term and short-term trading on the eToro platform. Here's what to do:

  1. Deposit a sum of money and select a Dogecoin contract (or if you already have the virtual currency, then simply buy it at eToro).
  2. Now that your portfolio is active, wait for Dogecoin to increase in price. If you notice that the value is growing, simply sell it before users get panic and the value drops.
  3. If you don't have experience with trading, then just follow the money that has been invested by others and copy it into your account. The system will do all the jobs for you.
  4. After a while, so as to earn from short-term investments, buy Dogecoin as soon as possible. In simple words, you should buy Dogecoin when eToro releases it on the platform (as is the case with most of the cryptocurrencies).

What Are The Advantages Of Buying Dogecoin?

  • As with Bitcoin, it is easy to see how many units there are of this virtual currency and where they are located. In other words, you can't generate more Dogecoin than the system allows.
  • Number one cryptocurrency that was designed as a joke but turned into reality shortly after its first appearance on Moolah.
  • Widely accepted on various trading platforms, such as eToro.
  • The massive amount of Dogecoin ensures that the virtual currency will not disappear anytime soon (even though it's quite similar to Litecoin and Bitcoin).

What Are The Disadvantages Of Buying Dogecoin?

Of course, there is a downside: volatility. Since this cryptocurrency appeared just a few years ago and was not widely accepted (it only reached the top after Bitcoin and Litecoin), its price can change dramatically. It can rise or fall several times during a single day, and it's up to you to decide how much risk you want to take.

Note:

If You Are Planning To Invest.

Keep in mind that investing in Dogecoin requires you to take a certain risk. In addition, this virtual currency is not regulated at all, and there's no one guarantee that your investment will return a profit.

If You Are Just Looking To Use It Like Money.

It doesn't make sense to invest in Dogecoin if your only plan is to trade it. In other words, if you are looking for a virtual currency to use as a money/a method of payment, then it will be much more efficient to invest in cryptocurrencies such as Bitcoin. However, you can always sell Dogecoin on eToro and transfer the money into your bank account or use them otherwise.

What Should You Remember Before You Head Out To Buy Dogecoin?

If you have already decided that this virtual currency is worth investing in, then there are several things to remember:

  • As mentioned above, it's important to take a certain risk because this cryptocurrency can lose its value anytime. In order not to end up losing all your money, always invest only the sum that you can afford to lose.
  • Keep in mind that the value of this virtual currency is extremely unstable, and it's not regulated at all. In other words, don't invest money if you can't take a loss, the negative impact will be inevitable.
  • Dogecoin is a cryptocurrency with no upper limits or restrictions on use (that is, there aren't any limitations on how and where you can spend it). Since this virtual currency was designed as a joke, its value grew quickly and continues to grow.
  • The number of users who use Dogecoin is constantly increasing (so far, the number of users exceeds 100,000). That means that you will not have trouble using this cryptocurrency for transactions.
  • The virtual currency is widely accepted on various trading platforms, including eToro. This means that you can trade Dogecoin whenever you want without having to worry about meeting someone who accepts it as a payment method.

What Is the Best Way To Store It?

Even though Dogecoin is not yet widely accepted as a method of payment or money, it is possible to store it in your wallet and use it whenever you want. Since there's no limit on how many Dogecoin can be produced (just like with Bitcoin), you will always be able to sell them on eToro (since this is the only platform that trades Dogecoin).

Conclusion :

If you are just looking for a virtual currency to use as money, then it would be more efficient to invest in Bitcoin or another cryptocurrency that has already proven itself. However, if you decide that Dogecoin is worth investing in, congratulations, you will surely not regret this decision! Just keep in mind that the main risk in investing in this virtual currency is its volatility.

Michael Restiano

I lead product content strategy for SaltMoney. Additionally, I’m helping our broader team of 4 evolve into a mature content strategy practice with the right documentation and processes to deliver quality work. Prior to Instacart, I was a content strategy lead at Uber Eats and Facebook. Before that, I was a content strategist at SapientNitro, helping major Fortune 500 brands create better, more useful digital content.

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