How to Buy Dogecoin (DOGE) in the UK?

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The rapidly developing crypto markets can’t stop attracting investors who want to multiply their funds in the context of the booming crypto values. While many people consider only the well-established giants like Bitcoin or Ethereum, neglecting other altcoins isn’t the best investment decision: you risk missing a lucrative speculative opportunity and gain a lot.

In this article, we will elaborate on how to buy Dogecoin in the UK, where to store it, and why, in the first place, you should consider it.

Table of Contents
1
What Is Dogecoin (DOGE) and Why Should You Buy It?
2
A Step-by-Step Guide on How to Buy Dogecoin in the UK
1. Registration
2. Account Verification
3. Depositing
4. Purchasing
3
Where to Buy DOGE in the UK
Binance
Paxful
Kraken
LiteBit
BC Bitcoin
Indacoin
Crypto.com
4
Where to Store Dogecoin?
Trezor Model T
Ledger Nano X
Atomic Wallet
5
Cryptocurrency Regulations in the UK
6
Final Thoughts
7
FAQ
What Is the Best Exchange to Buy DOGE?
Where Can I Buy Dogecoin?
Is Dogecoin a Good Investment 2021?
Can Dogecoin Make You Rich?
Will Dogecoin Reach $1?
Will Dogecoin Ever Hit $1,000?

What Is Dogecoin (DOGE) and Why Should You Buy It?

The cryptocurrency that became famous as a joke got its name from a once-popular meme. While it was created back then in 2013 for the sake of crypto enthusiasts rather than as a serious opponent to other cryptos, everything has changed. Today, DOGE ranks 7th by market capitalization according to the data from CoinMarketCap and shows the potential for wide adoption in the future.

The coin’s value experienced a staggering growth this year, spiking from $0.0048 in the beginning of January 2021 up to $0.4 in April. While it can be attributed to the overall crypto market development, DOGE, in particular, is associated with Elon Musk, who gave his endorsement. The famous Tesla CEO mentioned Dogecoin on his Twitter, saying that it’s his most favourite crypto and he will plant a physical token on the moon.

However, it isn’t the only driver of the coin’s popularity. In the future, Dogecoin has the potential to substitute traditional money. The decentralized peer-to-peer cryptocurrency that was forked from Litecoin (LTC) allows fast and secure transactions, which can easily become a norm provided the coin gains massive adoption. This, in turn, can significantly rocket the value and enrich the investors who purchased DOGE before.

A Step-by-Step Guide on How to Buy Dogecoin in the UK

Here are some simple steps to take to buy Dogecoin in the UK:

1. Registration

Find a crypto exchange like Kraken or Binance and register. Usually, you need to fill in your email, phone number, country of residence and create a password.

2. Account Verification

Some desktop platforms allow you to start buying crypto prior to account verification. However, you can’t miss the step to withdraw the money. To verify your account, provide a photo of your ID or passport.

3. Depositing

Go to the deposit section and select the preferred payment method. Specify the amount of the deposit and complete the transaction.

4. Purchasing

Visit the Markets section and choose your pair (GBP/DOGE). Specify the amount you want to spend or buy, double-check the data, and confirm the transaction.

Where to Buy DOGE in the UK

Here is the list of the best exchanges where you can buy Dogecoin in the UK.

Binance

Binance logo

Payment methods:

  • Credit/debit cards (Visa, Mastercard)
  • PayID
  • Osko
  • Cryptocurrency
  • Bank transfer

Supported deposit currencies: 50 fiat currencies, including GBP, USD, EUR, and many others.

Depositing, withdrawal, and trading fees:

  • No deposit fees
  • Low withdrawal fees vary depending on the payment method. For more information, visit the Fee Schedule section
  • A 25% discount on the trading fees

Daily limits on a virtual Binance card – 870 GBP, on a physical Binance card – 8,700 GBP

Trading limits:

  • A minimum trade amount – 0.1 DOGE
  • Minimum order size – 10 GBP

Pros

Cons

  • Reliable and secure exchange
  • Low trading fees and limits
  • Limited functionality for the UK investors

How to buy Dogecoin on Binance:

  1. 1
    Set up and verify an account.
Buying DOGE on Binance step 1
  1. 2
    Deposit the funds on the “Funds” page.
Buying DOGE on Binance step 2
  1. 3
    Choose the GBP/DOGE pair and fill in the amount of the transaction. Also, remember to provide the crypto wallet address.
Buying DOGE on Binance step 3

Paxful

Paxful logo

Payment methods: cryptocurrencies

Supported deposit currencies: Bitcoin, Ethereum, Tether

Fees:

  • Buying cryptocurrency – 0% fee
  • Selling cryptocurrency – 1% fee

Trading limits vary depending on the deal.

Pros

Cons

  • Secure – supports Escrow
  • A wide community of p2p traders
  • No DOGE/fiat transactions

How to buy Dogecoin on Paxful:

  1. 1
    Register and complete the verification of your account.
Buying DOGE on Paxful step 1
  1. 2
    Specify the amount of crypto to pay and DOGE to receive.
Buying DOGE on Paxful step 2
  1. 3
    Find the deal to trade BTC/ETH/USDT for DOGE in the finder and complete the transaction.
Buying DOGE on Paxful step 3

Kraken

Kraken logo

Payment methods:

  • Credit/debit cards
  • Etana Custody
  • FPS
  • CHAPS
  • BACS (for GBP)

Supported deposit currencies: GBP, USD, EUR, CAD, AUD, CHF, JPY.

Depositing fees:

  • Free for FPS/BACS (ClearJunction) and SWIFT (Etana Custody)
  • 21 GBP for CHAPS (ClearJunction)
  • 3 GBP for SWIFT (Bank Frick)

Withdrawal fees:

  • FPS/BACS (ClearJunction) – 1.95 GBP
  • CHAPS (ClearJunction) – 21 GBP
  • SWIFT (Bank Frick) – 13 GBP
  • SWIFT (Etana Custody) – 35 GBP

Depositing limits (minimum):

  • FPS/BACS (ClearJunction) – 1 GBP
  • CHAPS (ClearJunction) – 22 GBP
  • SWIFT (Bank Frick) – 4 GBP
  • SWIFT (Etana Custody) – 150 GBP

Withdrawal limits (minimum):

  • FPS/BACS (ClearJunction) – 100 GBP
  • CHAPS (ClearJunction) – 10,000 GBP
  • SWIFT (Bank Frick) – 14 GBP
  • SWIFT (Etana Custody) – 150 GBP

Pros

Cons

  • User-friendly platform
  • High level of security
  • Depositing and withdrawal fees
  • Acceptable payment methods and limits depend on the account verification status

How to buy Dogecoin on Kraken:

  1. 1
    Sign up on the exchange and verify your account.
Buying DOGE on Kraken step 1
  1. 2
    Buy Bitcoin with GBP.
Buying DOGE on Kraken step 2
  1. 3
    Select the BTC/DOGE pair, specify the amount of the trade. Complete the transaction.
Buying DOGE on Kraken step 3

LiteBit

LiteBit logo

Payment methods:

  • Credit cards
  • iDEAL
  • SEPA transfer
  • Mobile 2 app
  • LiteBit credits
  • GiroPay/Sofort
  • Bancontact

Supported deposit currencies: EUR

Trading fees: 2-5%, additional exchange costs may be applied

Limits for transactions:

  • Daily – 35,000 EUR
  • Weekly – 245,000 EUR
  • Monthly – 500,000 EUR

Pros

Cons

  • Extended limits
  • Numerous payment methods
  • Doesn’t support GBP

How to buy Dogecoin on LiteBit:

  1. 1
    Create a LiteBit account.
Buying DOGE on Litebit step 1
  1. 2
    Visit the “Buy” page and find DOGE.
Buying DOGE on Litebit step 2
  1. 3
    Specify the details of the deal and confirm the trade.
Buying DOGE on Litebit step 3

BC Bitcoin

BC Bitcoin logo

Payment methods:

  • Visa
  • Mastercard
  • Bank transfers
  • SEPA
  • FPS

Supported deposit currencies: GBP, USD, EUR

Transaction fees:

  • Transaction costs a minimum of 10 GBP
  • BC Bitcoin fee – a minimum of 3 GBP

Minimum order limit – 250 GBP

Pros

Cons

  • User-friendly platform
  • Fast and simple transaction for the UK residents
  • Not regulated
  • High minimum order limit

How to buy Dogecoin on BC Bitcoin:

  1. 1
    Sign up and verify your BC Bitcoin account.
Buying DOGE on BC Bitcoin step 1
  1. 2
    Go to the “Buy” section and select DOGE as well as your payment method. Also, choose GBP and specify the sum of the trade.
Buying DOGE on BC Bitcoin step 2
  1. 3
    Check the fees, provide your wallet address, and complete the transaction.
Buying DOGE on BC Bitcoin step 3

Indacoin

Indacoin logo

Payment methods:

  • Visa
  • Mastercard

Supported deposit currencies: GBP, EUR, USD, AUD, SEK, RUB, CAD, and many others.

Trading and deposit fees vary. Indacoin will show the fees for a particular transaction on a calculator page.

Withdrawal fees: for crypto/fiat – 7%

Initial transaction limit is a maximum of $200.

Pros

Cons

  • UK-based exchange
  • Fast and secure transactions
  • Limits for new clients

How to buy Dogecoin on Indacoin:

  1. 1
    Register on the exchange.
Buying DOGE on Indacoin step 1
  1. 2
    Visit the “Calculator” section and choose Dogecoin. Fill in the amount in fiat to be withdrawn from your card.
Buying DOGE on Indacoin step 2
  1. 3
    Provide your email and crypto address to finalize the transaction.
Buying DOGE on Indacoin step 3

Crypto.com

Crypto.com logo

Payment methods:

  • Debit/credit cards
  • Bank transfers

Supported deposit currencies: GBP, EUR

Trading fees vary according to the level.

Level

Maker Fee

Taker Fee

1

0.1%

0.16%

2

0.09%

0.15%

3

0.08%

0.14%

4

0.07%

0.13%

5

0.06%

0.12%

6

0.04%

0.1%

No withdrawal fees for credit cards.

Limits per transaction: Indacoin has increased the limit for many cryptocurrencies lately.

Pros

Cons

  • Loyalty programs
  • 0% fee for withdrawals via credit cards
  • User-friendly app
  • The highest rebates are hard to open
  • Little depositing methods

How to buy Dogecoin on Crypto.com:

  1. 1
    Set up an account on the platform and complete verification.
Buying DOGE on Crypto.com step 1
  1. 2
    Deposit the funds in GBP.
Buying DOGE on Crypto.com step 2
  1. 3
    Go to the currency converter and fill in the sum of the transaction. Click “Buy DOGE” to purchase the crypto.
Buying DOGE on Crypto.com step 3

Where to Store Dogecoin?

Once you buy Dogecoin in the UK, you need to find a place to store it safely and anonymously. Some exchanges provide such a service; however, it’s still more secure to keep DOGE in a third-party crypto wallet. The wallets that accept DOGE are below.

Trezor Model T

A hardware wallet with top-notch security, Trezor Model T is a popular choice for crypto investors. They value the support of 1000+ cryptocurrencies, besides Dogecoin, a touchscreen that allows taking a glance at the state of the wallet quickly, and a simple set-up.

Ledger Nano X

Another hardware wallet that is slightly cheaper than Trezor Model T. Ledger Nano S offers users Bluetooth and is compatible with the majority of OSs, including those for smartphones. The device has a screen that shows the vitals.

Atomic Wallet

It’s an online wallet that any trader can get free of charge. While it may be considered less secure compared to the hardware wallets, the software has a lot to offer. For example, you can trade on the platform.

Cryptocurrency Regulations in the UK

Although there are no introduced regulations in terms of Dogecoin and other digital currencies, the UK has significantly matured recently in the matter. Here are some important factors to take into consideration:

  • Crypto assets are property. The United Kingdom confirmed that previous year. Nonetheless, the digital assets don’t fall into the legal tender category yet.
  • Crypto exchanges must register in the UK. According to the regulations, any exchange that aims to fully operate within the country must comply with the FCA (Financial Conduct Authority) requirements. However, those who don’t can still operate in the UK.

Final Thoughts

Although there are a lot of exchanges that offer lucrative conditions for crypto traders, the best way to buy Dogecoin in the UK is to look for security and reasonable fees. If you plan to scale up, consider the limits, as they may present a complication for huge deals.

Moreover, investors should choose a crypto wallet prior to the purchase as not all exchanges allow storing DOGE on their premises. It’s advisable to go for a hardware model, especially if you have thousands of pounds in the form of a crypto asset.

FAQ

What Is the Best Exchange to Buy DOGE?

Binance is considered to be the best exchange to buy Dogecoin. The platform is recognized for its security and favourable fee policies on a global scale. Moreover, its wide adoption reduces the risk of investing in a scam.

Where Can I Buy Dogecoin?

You can buy Dogecoin on a crypto exchange. Popular exchanges in the UK are Binance, Kraken, Indacoin, BC Bitcoin.

Is Dogecoin a Good Investment 2021?

Yes, Dogecoin is a good investment if you seek a coin with steady growth. Potentially, the coin may reach $1.33, while its maximum for 2021 is $0.44 in October, according to DigitalCoinPrice.

Can Dogecoin Make You Rich?

Considering that DOGE is going to increase in value in the coming years, you can become rich if you buy a lot of coins while it’s still cheap.

Will Dogecoin Reach $1?

Yes, Dogecoin is likely to soar to a $1 benchmark, based on the data from DigitalCoinPrice. However, it will take several years.

Will Dogecoin Ever Hit $1,000?

Currently, the majority of analysts don’t believe that one Dogecoin will equal $1,000. Nonetheless, the coin is likely to keep growing, but insignificantly.