How to Buy Dogecoin (DOGE) in Australia?

Dogecoin (DOGE) is not your ordinary cryptocurrency. For one thing, it was made as a joke back in 2013 by a software engineering duo. The creators themselves admitted that they do not hold the coins in large quantities as they didn’t find any value in them.

Well, they were kind of wrong, as DOGE hit AU $0.89 in 2021, having been worth a fraction of a cent eight years prior. While some hold Dogecoin for the fun of it, others see it as kind of a lottery ticket. 

Interested in buying Dogecoin (DOGE)? Here is how you can buy Dogecoin safely through a regulated exchange such as Easy Crypto Australia. 

Learn more: What is Dogecoin (DOGE)?

How to buy Dogecoin (DOGE) in Australia

At Easy Crypto, we make sure that the transaction process is made as simple and cost-effective as possible. We understand that there are many costs associated with transacting on the blockchain. 

Many new customers of other crypto exchanges were surprised to learn that their purchasing power in crypto had decreased after converting their fiat currency. This is because they are not aware of what’s happening in the back end. 

In our case, we make things transparent. Once your funds are received by us, your order is instantly processed. The rate is locked in, regardless of what the market does.

Important. Do not mistype your address. Cryptocurrency transfers cannot be refunded. The best and easiest way to avoid this mistake is to simply copy-paste your address, instead of typing each symbol individually. 

Need help with anything? Read our FAQ or contact our Help Desk.

Things to consider before buying Dogecoin (DOGE)

Download a software wallet or buy a hardware wallet

Cryptocurrencies are “stored” in a crypto wallet, which is an interface that allows you to look at your crypto asset balance, send or receive cryptocurrencies and tokens at any time. 

Unlike a physical wallet, crypto wallets don’t physically store your cryptocurrencies (i.e. there is no file inside the wallet that represents your assets).

Rather, there is software that interacts with a global distributed ledger that recognises your ownership of a certain amount of the crypto asset.

So, don’t let the dogs out – you’ll need a secure wallet to keep your Dogecoins. Wallets typically come in two types – hardware and software wallets.

Hardware wallets are considerably more secure than software wallets. With hardware wallets, you need to first connect one to your computer in order to even have access to your cryptocurrencies.

The good news is, hardware wallets like Trezor and Ledger support Dogecoin (DOGE).

However, many people also use software wallets for the convenience that they offer. For example, Exodus and Trust Wallet are mobile and desktop wallets respectively. There are also many other options available for storing Dogecoins.

 Not sure which one to get? Check out the article below.

Get started with crypto wallets: Cryptocurrency Wallets – What are your options?

Visit a trusted cryptocurrency exchange in Australia

Cryptocurrencies exist in the digital realm, so regardless of where you are, provided that you have an internet connection, you can buy or sell cryptocurrencies in Australia or anywhere else in the world.

This means there are dozens of different cryptocurrency exchanges to choose from. It’s now a matter of choosing which one that you like the most.

Tips for choosing a cryptocurrency exchange in Australia:

• Make sure that the exchange is registered and regulated. This protects you from exchanges that may not be helpful to you, and those that are downright scam.

• Watch out for fees. Some exchanges offer custodial services, which makes it seem like the transaction fee is cheaper. However, a surprise fee will become apparent once you try to withdraw your crypto assets into your own wallet.

• Learn to recognise normal crypto exchanges from the ones that are not typical of exchanges. This could potentially be a Ponzi scheme in disguise.

• DO NOT under any circumstances share your crypto wallet’s private key. An exchange that asks you for this is obviously a scam.

• Typical crypto exchanges only offer to exchange fiat money and cryptocurrencies. While they may also offer other services, such as managed crypto investments, this should be a separate service, and should never affect the buy price of the free market exchange significantly. 

Do an experimental buy and sell in an Australian crypto exchange

If you are an absolute beginner in the crypto space, the best way to get started is to take it one step at a time. Trusting a crypto exchange, the crypto wallet, or the entire buying process will take time for sure.

You can do a small, experimental buy and risk no more than $20, for instance. Then wait until the price of your crypto asset increases before selling at the same exchange.

Did you earn the expected amount of profit? If not, have you made any miscalculation or was there a misunderstanding with regards to the fees?

Ask as many questions as possible. If the crypto exchange can answer them for you, then you can be assured that they are serious in conducting their business with you.

Have an investment plan

Just like any investment endeavor, having a plan allows you to stay accountable for your assets. And you’ll also have an easier time tracking the growth as well and mitigate risks.

For those looking for a good place to start, try the dollar-cost averaging (DCA) strategy.

With DCA, you’re basically distributing the risk of volatility commonly associated with the crypto market, by making recurring purchases over a pre-determined timeframe.

Is that too much work for you? Don’t worry, we can automate that for you with our auto-buy templates.

More on DCA: Dollar-Cost Averaging Explained.

The auto-buy feature will allow you to set a specified amount of crypto to purchase and the interval in which you want the automation to execute the purchase.

You set it once, and let it do the heavy lifting for you.

Buy Dogecoin: Click here to buy Dogecoin (DOGE) in Australia.

Track your earnings with our portfolio feature

Any investor worth their money would want to see their assets grow. The best way to measure the growth of your investments is by tracking their value over time.

Not sure where to start? We got you covered.

Easy Crypto offers a built-in crypto portfolio tracker that allows you to set up your buy history only once and we’ll do the calculating and tracking for you.

No need for boring spreadsheets, or constant monitoring of price charts.

If you buy from Easy Crypto, you get additional benefits as the portfolio will automatically update itself when you make a purchase or a sale. 

Did you know we also have an affiliates program? Check your dashboard and send that over to a friend, and you’ll get a commission when they make a purchase!

The process is super easy. Check out this YouTube tutorial for those wanting to make some extra crypto!

Stay updated in the crypto space!

Dogecoin could actually replace Bitcoin – no joke. If you read our guide to Dogecoin, you’ll learn that Dogecoin transactions are much more energy efficient compared to Bitcoin’s. 

The “joke cryptocurrency”, while having a consistent and predictable inflation rate at 5 billion DOGE per year, is seen by some as possibly a better medium of exchange than Bitcoin.

This is because of “supply elasticity”, which is important in economics to maintain the coin’s controllable appreciation in value, even with rising demand.