Can You Buy Dogecoin on Cash App? – Cash App Dogecoin
No, you cannot buy Dogecoin on Cash App. The only cryptocurrency you can buy on Cash App is Bitcoin and nothing else other than this. However, Dogecoin can be bought on other cryptocurrency exchanges like Binance or Kraken. Dogecoin started in 2013 as a peer to peer digital currency, which you can use to send and receive money online. This was not considered something serious or legit before, and people normally took it as a joke.
However, today it is worth more than the Western Union or Under Armor. Cash App only allows verified accounts to trade in cryptocurrency, which only includes Bitcoins. If you want to trade in something other than Bitcoin, then Cash App may not be the option for you. However, some people adopt various strategies to trade in Dogecoin using Cash App which is described below.
How To Buy Dogecoin on Cash App?
Unfortunately, no such thing is possible but there are multiple ways you can buy Dogecoin on other cryptocurrency exchange platforms. You can only buy Bitcoin on Cash App and the process of buying Bitcoin is pretty simple and easy.
If you want to buy Dogecoin only from Cash App, then you can first buy Bitcoin and then trade it in exchange for Dogecoin. Using KuCoin for this task is recommended, however, it is still up to you to use whatever you desire. Follow the given procedure to buy Dogecoin from KuCoin and trade it with Bitcoin:
- First of all, buy Bitcoin from Cash App.
- Then, proceed to make your KuCoin account and create a Bitcoin wallet.
- Then send the Cash App Bitcoin to the KuCoin Bitcoin Wallet.
- After this, trade Bitcoin to Dogecoin and you’re done.
You can also use a different crypto exchange like Crypto.com, Kraken, Coinbase, OkCoin, etc.
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Is Dogecoin a Good Investment?
Many people are curious about whether Dogecoin is a good investment or not. Yes, previously this currency was considered a joke and had no serious importance, but it has managed to gain much importance during the present era.
Over the past few years, Dogecoin has risen to considerable extent and one of the core reasons for this is that, Dogecoin is tapped into Litecoin which is the grandparent of Doge. This is because both of these currencies have a similar mining process and this can prove to be very helpful in increasing the security of the Doge network.
There are many factors which influence the value of cryptocurrencies including security, scarcity, and the scale of the community involvement etc.
How Can You Buy Dogecoin on Binance or Kraken?
You cannot buy Dogecoin on Cash App however, you still have the option to do so on Cryptocurrency exchanges like Binance or Kraken. What you have to do is set up and fund an account with US Dollars or cryptocurrency. Then, you are able to buy or exchange cryptocurrency, including Dogecoin.
There are some other online brokers like Robinhood and TradeStation which allow you to buy Dogecoin in addition to other assets like stocks, bonds, and mutual funds. Following is a detailed description on how to buy Dogecoin on Binance:
- First of all, register an account on Binance.
- Then, proceed to deposit some funds in your account.
- Further, click on “wallet” and “Fiat and Spot”.
- Then go to click the “Deposit” option. Make sure that you select the deposit currency as USD for the exchange process.
- Then follow all the information given.
- After this, type “Doge’ in the search bar. Tap on the “Doge/ USDT” pair.
- Then enter the amount of Dogecoin you wish to purchase, choose the Market tab.
- After this, click on “Buy Doge”.