Coinbase, Dogecoin and other basics
Dogecoin (DOGE) is a digital money that gained a meaning amount of popularity in 2021. DOGE is Dogecoin’south symbol (ticker). Despite its uncapped maximum supply and comedic condition, Dogecoin has achieved pregnant price highs and is available on numerous centralized crypto exchanges including Coinbase.
Coinbase is a public crypto company that has a number of unlike products under its branding. Ane such product is a well-known and simple application for buying and selling various cryptocurrencies — the Coinbase app.
Wondering how to buy Dogecoin on Coinbase, or how to sell Dogecoin on Coinbase? Can yous buy Dogecoin on Coinbase? Read on for more information.
A little about Dogecoin
Billy Markus and Jackson Palmer created Dogecoin in 2013 as an act of comedy, building the asset based on a popular meme — the one that has grammatically wrong phrases pasted around a picture show of a Shiba Inu domestic dog sitting with proper posture while staring into the camera.
Dogecoin has no limit on its maximum coin supply with x,000 new DOGE approximately coming into beingness every infinitesimal. Therefore, DOGE is an inflationary asset, contrary to Bitcoin (BTC) which has a maximum supply of 21 meg coins.
DOGE and BTC run on their own respective blockchains. DOGE’s blockchain produces a new block roughly every minute, while BTC’due south blockchain has most a 10-minute block time. This makes DOGE transactions generally faster than BTC transfers.
Is Dogecoin a good investment? Historically, DOGE has seen enormous price increases. DOGE’s cost rose from less than a penny in 2019, all the mode upwardly to effectually $0.74 in 2021, according to Cointelegraph’s DOGE price index linked above. How much is Dogecoin worth? DOGE’s toll changes constantly, only the Cointelegraph DOGE price index keeps track of DOGE’s price live and shows Dogecoin’s marketplace cap.
Judging by history, investors or traders who bought and sold DOGE within that timeline could have potentially made a significant profit. All the same, numerous factors come up into play as far as profit is concerned such every bit merchandise timing.
Billionaire Elon Musk helped bring Dogecoin into the mainstream spotlight with his tweets referencing the coin. Additionally, Dogecoin gained mentions aslope discussion of WallStreetBets, a markets-focused Reddit-based group.
Preparing to purchase and sell Dogecoin
Explaining a footling about Coinbase
Wondering where to invest in Dogecoin? Coinbase is one possibility where you tin can do so. Founded in 2012 and based in the United States, Coinbase is a prominent company in the crypto manufacture.
Coinbase went public in 2021 with its stock listing on Nasdaq under the ticker Money. Coinbase has a number of crypto solutions under its wingspan, such equally its Coinbase mobile app, website platform and its Coinbase Pro mobile app and website interface.
Coinbase and Coinbase Pro are two platforms on which a person can buy and sell Dogecoin. Coinbase’s user interface differs from Coinbase Pro. Coinbase Pro has a trader-centric layout with toll charts and lodge books, while the main Coinbase platform is more simplistic. (The website address for the Coinbase Pro browser-based platform is pro.coinbase.com.)
Setting upwards a Coinbase business relationship
Buying or selling Dogecoin on Coinbase requires setting up a Coinbase account. Completing the procedure on the mobile app looks like to signing up via the browser page.
During the process of creating an account, Coinbase guides users through diverse steps via prompts they must fill out. These prompts typically include various personal details such as name, date of nativity, email accost and phone number. Users must follow Anti-Money Laundering (AML) information and submit an image of government-issued identification that matches the name used for signing upwards.
The account cosmos procedure and data requirements for such may vary based on a user’southward jurisdiction. Even so, in general, Coinbase requires a notable amount of information from its customers due to regulatory requirements. Users of some parts of the globe may besides be barred from using Coinbase.
Anyone interested in opening a Coinbase account must be at least 18 years old and agree to sure terms and atmospheric condition. Opening an account on Coinbase too by and large involves verifying an email address, equally well equally providing a phone number for initial two-factor authentication (2FA) setup. Users can change their 2FA method to something other than a phone number-based method afterwards account creation, which may be desirable due to sim swapping risks.
Wondering about Coinbase Pro? A user’s Coinbase account works like a base, with Coinbase Pro as sort of like an extension of Coinbase. For example, clicking the button on the Coinbase Pro browser website redirects users to sign up on the master Coinbase website.
Funding the account
Establishing a Coinbase business relationship involves linking a method with which to spend or send fiat funds (U.S. dollar, etc.), if fiat funding is desired. Users can also send crypto assets to their Coinbase business relationship.
How do you get Dogecoin on Coinbase Pro? If a user sets upwardly a Coinbase business relationship and sends assets to the main Coinbase platform, he or she must transfer any of their desired funds from that main platform to the Coinbase Pro platform.
Users can send funds directly to their Coinbase Pro platform from external crypto wallets or banks as well. Fiat and crypto funds tin be sent to either the Coinbase platform or the Coinbase Pro platform and transferred between the two. Still, the main Coinbase platform has more fiat payment options than Coinbase Pro. Performance on either app should human activity similarly to the browser feel.
How to buy Dogecoin on Coinbase
After a user sends funds to his or her Coinbase account, purchasing Dogecoin is relatively simple. Click the “Buy/Sell” button on the acme correct corner of the main contour page (Coinbase browser platform).
Click “Buy” and choose Dogecoin from the list (finding Dogecoin might crave using the search bar included with the list). Below that box, choose a method of payment. Also make sure to indicate if this purchase should be just a single time or a recurring outcome.
Cull an corporeality of money to spend on DOGE, and then click “Preview Purchase.” Ensure the details of the buy are correct, take note of the fee and then click “Buy at present.”
On Coinbase Pro (browser platform), a user interested in buying Dogecoin would notice a DOGE asset pairing that is compatible with assets he or she holds on the platform.
Nugget pairings are just that — pairs of assets. A user can purchase or sell 1 asset in the pair in exchange for the other asset listed. For case, a DOGE/USD pair lets users purchase and sell DOGE in exchange for USD.
Click the drop-downwards card on the top left corner of the main page and choose the applicable DOGE pairing from the list. Brand sure the “Buy” and “Market” settings are selected, type in the desired corporeality to spend and click “Identify buy order.” Fees and the corporeality of DOGE that will be purchased are shown above the order button.
Using the “Limit” and “Stop” orders are more complicated. For more information on gild types, read Crypto trading basics: A beginner’s guide to cryptocurrency order types.
Be mindful of the fees associated with Coinbase and Coinbase Pro trades.
How to sell Dogecoin on Coinbase
Selling Dogecoin on Coinbase (browser platform) looks similar to buying the nugget.
Dogecoin tin also exist converted into other digital avails and vice versa via the “Convert” tab, which sits adjacent to the buy and sell tabs.
On Coinbase Pro (browser interface), the DOGE sale procedure also functions similarly to the Coinbase Pro purchase process. Click a DOGE pair from the drop-downwards menu, ensure the “Sell” and “Marketplace” settings are clicked, blazon in an amount of DOGE to sell and striking “Place sell order.”
Should I buy Dogecoin?
Participating in Dogecoin trading on Coinbase or elsewhere is a choice that will vary from person to person. Everyone should decide for themself whether or non to buy or sell Dogecoin, and on which trading platform.
People may not hold on what is the all-time identify to buy Dogecoin. Peoples’ desires, goals and preferences all differ, which can make decisions a personal option in the crypto space. Nevertheless, it is of loftier importance to make certain to ever comply with any applicable jurisdictional laws.