How to Buy Dogecoin in Australia
Dogecoin (DOGE) is a decentralized, peer-to-peer digital currency that enables you to send money online easily. Dogecoin is very similar to Bitcoin. You can use it to buy goods and services or trade them for other currencies (both other cryptocurrencies or traditional currency like AUD).
One of the things that makes Dogecoin so popular is its fun, friendly community, and sense of generosity, as well as the fact that it’s free to use and easy to understand.
What is Dogecoin?
The coin was created by programmer Billy Markus from Portland, Oregon, who hoped to create a fun cryptocurrency to reach a broader demographic than Bitcoin. In addition, he wanted to distance it from the controversial history behind Bitcoin, mainly its association with online drug markets and Silk Road.
At first, people bought Dogecoin just for fun and speculation—but then speculators saw its value soar. The price of one token is currently 0.04 AUD.
What are the Benefits of Dogecoin?
The most significant benefit of using a digital currency like dogecoin is that you don’t have to carry cash or cards. Dogecoins can be stored and spent anywhere, at any time. Because it doesn’t cost anything extra, you can use dogecoins for any type of purchase.
Cryptocurrencies also allow you access to cheap international payments since they aren’t tied to specific banks; instead, they run on a global network of computers that verify transactions. Many merchants now accept these currencies as payment.
By accepting a digital coin rather than physical cash, merchants save on processing fees associated with credit card purchases. Plus, unlike credit card payments, there is no lengthy authorization period that results in customers leaving without purchasing during those crucial first minutes after arriving at the register.
Studies show that debit and credit card buyers spend more per transaction than those paying with mobile wallets such as Apple Pay or Android Pay. This makes cryptocurrencies ideal for businesses. But perhaps one of crypto-currencies best features is their privacy. All transactions are encrypted, making them secure.
Where Can I Buy Dogecoin (DOGE)?
Many exchanges and sellers accept DOGE. And if you want to sell or trade your DOGE, some services will handle that side of things for you as well. Let’s dive into finding where to buy Dogecoin!
Changelly is a cryptocurrency exchange that allows customers to buy various cryptocurrencies and send them to their private wallets almost instantly. Users can now acquire a handful of coins with AUD using a credit or debit card on the Changelly exchange.
At present, Bittrex does not allow users to withdraw DOGE from their platform directly; rather only BTC and ETH withdrawals are available for now. Also, they require verification of identity documents before they allow users to deposit fiat currency.
But once you get verified, you can deposit dollars via wire transfer or using one of their US bank-issued debit cards. They charge a 0% fee for both deposits and withdrawals, thus making them an ideal choice for traders who wish to minimize costs incurred by transactions done within and outside Bittrex.
Shapeshift allows its users to convert between various digital assets such as Bitcoin, Ethereum, Litecoin, etc. It is similar to Changelly, except Changelly allows its users to convert cryptocurrencies to USD/EURO, while Shapeshift only allows conversion between digital assets themselves.
This makes it one of our favorite choices when deciding where we should store our cryptocurrencies. Currently, they support 50+ digital assets while listing a few upcoming currencies on their website. Their transaction fees vary based on the demand and supply of funds available with them at any given moment in time and start at 0.5%.
One thing that sets shapeshift apart from many other crypto exchanges is that they do not ask their users to create accounts with them before trading takes place. However, they track user trades made through ShapeShift’s interface and disclose those details to their respective counterparty/partner trading partners subject to compliance requirements and financial regulations.
While Poloniex doesn’t list DOGE alongside altcoins like ETH and BTC, you can use it to trade two major privacy-oriented coins – Dash & Monero along with 100s of altcoins listed on Polo.
Cryptopia supports Dogecoin (DOGE) and charges a transaction fee of 0.2% to users on their end.
Yobit is much similar to Bittrex in terms of having a limited number of coins listed for trading. You can purchase DOGE from them but can’t withdraw it currently, although they are working on making DOGE withdrawal possible in the future.