There are literally little to no options when it comes to buying Dogecoin with PayPal. The reason for this is that only a few cryptocurrency exchanges accept PayPal payments. The safest and cheapest way to do it would be to buy bitcoins using PayPal first and then convert or trade these coins for dogecoin (doge).
Before talking about the method to buy dogecoin with PayPal, let’s talk about the Dogecoin itself first.
What is Dogecoin?
Dogecoin is one of the oldest cryptocurrencies, which came out as a joke in the first place. But soon, it gained a lot of traction and a loyal community, and now it has become one of the most popular cryptocurrencies around.
Dogecoin was first introduced in 2013. Programmers from Portland named Billy Markus and Jackson Palmer created the first Dogecoin in December 2013, and it eventually gained a large online following. Dogecoin is well known around the globe for its meme-inspired logo of Shiba Inu dog.
Purpose of Dogecoin
As Dogecoin was first created as a bit of a joke currency, it was obviously fun to buy Dogecoin. But over time, the online community began to use Dogecoin as a form of tipping to other users for their content on forums like Reddit.
This form of tipping them became the sole purpose of Dogecoin. Since its creation, doge has also been used to donate money to charities and trade online.
Will Dogecoin be the Future Coin?
Although Dogecoin cryptocurrency does not seem to have any particular advantages over other coins, the adoption it collected throughout the years makes it look like it started here for quite a long time.
Buy Dogecoin with PayPal
You can buy Dogecoin with PayPal by using various P2P cryptocurrency exchanges as well as e Wallets like Neteller and Skrill. You will need only simple steps to follow in order to complete the trade.
Open an Account
Open an account on a peer to peer platform to buy Dogecoins. It is very convenient to use as it offers commission-free trading with a wide range of deposit methods.
Some exchanges will ask to verify your identity before allowing trades with PayPal. You can verify your ID by uploading a copy of your driver’s license or passport.
Once your identity gets verified, you can easily deposit funds there. You can pay using different methods, including a debit card, credit card, PayPal, Neteller, Skrill, and bank transfer.
Search “Dogecoin” in the bar and select “Trade” when Dogecoin appears. Finally, enter the amount that you wish to purchase (at least 25$). Click “open trade” to buy Dogecoin.
Buy Dogecoin with Bitcoins
Buying Dogecoin with PayPal is a bit tricky. Cryptocurrency exchanges rarely accept PayPal, with the P2P exchanges being the exception. The reason is simply that users can report the transactions to PayPal and
can have their money back then. And obviously, exchanges do not want people to steal their cryptocurrency from them.
But there are some ways to buy Dogecoin using PayPal. And for that, the safest way is to buy bitcoins by using PayPal fest. Decentralized Exchanges and in general peer to peer trading platforms often have traders willing to accept PayPal, but it is shocking how much they charge for the service.
Steps for Buying Bitcoins Using PayPal
1. Go to any major Crypto Exchange, it can be even a Centralized one.
2. Sign up there for free
3. After logging in, select the link that says “buy bitcoins” by using the option of PayPal. You will see that the price there is a lot higher than the usual market prices. This is because PayPal traders often get scammed. Therefore, they need to compensate by keeping prices higher than the usual prices.
4. After finalizing the transaction, you need to withdraw your Bitcoins to any websites/wallet like an exchanger site.
5. You can then trade your Bitcoins for Dogecoin (DOGE) using an online crypto-to-crypto exchange. And for that, a simple procedure is all you can follow.
As we can see, Dogecoin seems to be a bit different from all other cryptocurrencies. Also, it has not been created as a deflationary currency as the supply is always getting bigger. Dogecoin is serving a beneficial purpose just like all the other cryptocurrencies around today.