How To Buy Dogecoin In The UK (May 2022)

January 24, 2022
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In the United Kingdom, there are two primary ways to buy, sell and trade Dogecoin (DOGE), and both will involve using platforms known as cryptocurrency exchanges. You can use real currencies like the Pound Sterling (GBP) or American Dollars (USD) to buy an equal amount of the currency on these platforms, or trade other cryptocurrencies like Bitcoin (BTC) for Dogecoin (DOGE) as well.

For knowledgeable British crypto investors, CoinSmart would be the first choice to come to mind, mainly for its high degree of security and simplicity of use. It also charges the lowest trading fees of all exchanges in the country, so if you’re searching for a safe, cost-effective method to buy and sell cryptocurrency, CoinSmart would be your best bet.

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How To Buy Dogecoin In The UK

There are two primary ways of buying DOGE in the United Kingdom.

The first is to do a Dogecoin purchase by using fiat currency (such as GBP or USD) on a cryptocurrency exchange through a variety of supported payment methods, such as a bank transfer. On the other hand, you may use the same cryptocurrency exchange to buy various cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), or Bitcoin Cash (BCH) and then trade them for Dogecoin (DOGE).

It’s worth noting that you can also mine Dogecoin (DOGE) directly from the blockchain with a high-performance computer, but such computers are very expensive and this wouldn’t be considered a purchase of said cryptocurrency.

Top 3 Crypto Exchanges To Buy Dogecoin (DOGE) In The UK

Here are the top crypto exchanges you can use to buy Dogecoin (DOGE) in the United Kingdom:

1. CoinSmart

Best Overall

Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

$50 offer ends May 19.

★★★★★

Rated 4.9/5

CoinSmart is, without a doubt, the best crypto exchange in the United Kingdom in 2022. If you haven’t heard of them, that’s because they’ve been pouring money into improving their trading experience, not marketing. Still, if you ask any experienced British crypto trader, they’ll tell you the same thing: CoinSmart is the best in the business.

CoinSmart’s trading fees are an incredibly low 0.20%. They offer excellent customer support via phone, live chat and email, and user accounts are verified instantly.

Most exchanges require users to trade every altcoin first with a stablecoin (eg. Chainklink with Bitcoin, and then Bitcoin with Shiba Inu), but CoinSmart allows users to trade altcoins directly (eg. Chainlink with Shiba Inu), minimizing fees and boosting your profits. And you’re buying real crypto with CoinSmart, which means you can move it on and off the exchange whenever you want.

I’ve personally used CoinSmart for more than a year now and have had nothing but excellent experiences with them. I’ve tried out many of the other cryptocurrency exchanges on this list, so I’m confident that CoinSmart is the best place to buy crypto in the United Kingdom.

Features

  • Extremely low trading fees (just 0.20% per trade)
  • 24/7 customer support available via phone, live chat or email
  • Instant account verification
  • Supports 16 cryptocurrencies
  • Trade all altcoins directly
  • Immediate deposits and withdrawals
  • User-friendly for both beginners and advanced traders
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Trading Fees: 0.20%

Signup Bonus

$30 bonus when you sign up using this link

Best For

Investors looking to trade stablecoins or altcoins with the industry’s lowest fees.

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2. Crypto.com

Crypto.com: best crypto exchange Canada

Crypto.com is a major global player as far as exchanges go. It supports 100+ cryptocurrencies, making it an ideal fit for anyone looking to invest in undiscovered altcoins before the masses.

Crypto.com also offers some unique features that few British cryptocurrency exchanges can match. Users can trade options and futures contracts, earn interest by staking their coins, and make trades with up to 10x leverage when they feel particularly confident in a coin.

Crypto.com has invested an enormous amount of money into its platform security, which makes trading with them extremely safe. The exchange is also lightning quick (prices update dozens of times per second), which gives day traders an upper hand over the rest of the market.

Features

  • Supports 100+ cryptocurrencies
  • Allows up to 10x leverage
  • Trade crypto derivatives (futures and options contracts)
  • Earn daily interest by staking your coins
  • Purchase newly-listed coins at up to 50% off
  • Reasonable trading fees (0.4% per trade)
  • Free deposits from all cryptocurrencies

Cost

  • Trading Fees: 0.4%

Signup Bonus

$10 of CRO when you stake $1,000 of CRO using this link

Best For

Investors looking to buy altcoins and other new crypto assets before they go mainstream.

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Extremely secure, 10x leverage

3. Binance

Binance is an international cryptocurrency exchange that currently serves as the world’s largest crypto trading platform by volume of daily trading. It began operations in 2017 and is now headquartered in the Cayman Islands.

Binance was founded in Hong Kong but later moved its headquarters overseas due to increased government intervention in cryptocurrencies. It has several notable characteristics, including powerful charting tools and access to the Binance Earn feature, as well as a Binance Visa Card.

Features

  • The largest array of supported cryptocurrencies (300+)
  • Wide array of supported fiat currencies (50+)
  • Binance Earn feature
  • Binance Visa Card
  • Advanced charting tools
  • Earn lower fees by using the exchange’s native currency (Binance Coin)

Cost

  • Crypto deposit fees: Free
  • Fiat deposit fees: From 0% to 3.5%
  • Crypto withdrawal fees: From 0% to 2,5%
  • Taker fees: From 0.04 to 0.1%
  • Maker fees: From 0.02 to 0.1%
  • Futures trading maker fees: 0.02%
  • Futures trading taker fees: 0.04%
  • Instant buy/sell trade fees: 0.5%
  • Debit/credit card purchases: 4.5%

Best For

International cryptocurrency investors that are interested in investing in rare or relatively unknown altcoins.

What Is Dogecoin?

Dogecoin is a cryptocurrency that was created by Billy Markus and Jackson Palmer in 2013. The logo of Dogecoin is inspired by a famous photograph of a Shiba Inu dog that became an Internet meme (often known as Doge), and the currency was made with little purpose outside of being amusing.

In early 2013, the Shiba Inu picture and the misspelling of the word “dog” as “doge” became linked. A subreddit for the new Doge meme was created, and the term took off shortly after. The original photograph is still used in most Dogecoin-related jokes, with the dog’s face serving as a template for the Dogecoin logo.

Later that year, the two software developers behind Dogecoin announced its launch. At first, Palmer mocked the number of different cryptocurrencies available on the market at the time, considering it a joke on Twitter. However, his Tweet prompted him to create the currency shortly afterwards.

Dogecoin has been gaining a lot of momentum lately (especially in 2022), and it’s now supported by well-known personalities such as Elon Musk, Kiss bassist Gene Simmons, and Snoop Dogg.

The Dogecoin blockchain and the Bitcoin blockchain operate similarly, but the use of Scrypt technology by the Dogecoin blockchain lowers mining power consumption.

Additionally, Dogecoin has no limit on the number of coins generated (as opposed to Bitcoin’s 21 million coin limit). It was created with the intention of discouraging hoarding, being cost-effective to run, and distributing coins to miners. Dogecoin originally had a finite supply of 100 billion coins, but this restriction was removed over time, and the number of Dogecoins that can be mined is now limitless. The present quantity of Dogecoins in circulation is approximately 130 billion.

Dogecoin is a spin-off of a line of Bitcoin offshoots that began with Luckycoin, which was based on Junkcoin and Litecoin, both of which were derived from Bitcoin. It has since grown into something far more significant than the original purpose that Markus and Palmer had intended.

How Does Dogecoin Work?

Dogecoin follows Bitcoin in that it is a peer-to-peer money transfer system using a proof-of-work consensus mechanism to create new Dogecoin and verify transactions.

The Dogecoin network organizes transactions into blocks, which are then neatly divided. Blocks on the Dogecoin network keep track of all transactions that happen between different accounts over a one-minute time period.

The system links these units together as part of a ledger and keeps track of user funds using this same ledger.

The blockchain’s blocks are validated using the proof-of-work mechanism. To validate a block, computers must use a lot of computing power and electricity to solve complicated math problems. They’re trying to find a number that validates the blockchain when added to the end of a block, and Dogecoin miners are rewarded with freshly created Dogecoin once this happens.

Can You Buy Dogecoin In the UK?

Yes. If you’re wondering how to purchase Dogecoin in the United Kingdom, all you have to do is exchange fiat money for Dogecoin or other cryptocurrencies on a cryptocurrency exchange that enables you to trade crypto.

For this purpose, I recommend using any of the following exchanges: CoinSmart, Crypto.com, or Binance. These are currently our top-rated exchanges in the United Kingdom, and each of these will allow you to acquire Dogecoin using the Pound Sterling with minimal fees.

Is Dogecoin A Good Investment?

It’s impossible to give a clear response to this question since cryptocurrencies are so new to the realm of investing, but it’s worth noting that cryptocurrencies are volatile and can have significant changes in price. If you’re planning on buying Dogecoin, be aware that it might be a wild ride.

If you’re not sure whether you’re capable of enduring these investment conditions, cryptocurrency investing and trading may not be for you.

Where Can I Buy Dogecoin In The UK?

Yes, you can buy DOGE using CoinSmart, Crypto.com, or Binance for the lowest fees in the market through your preferred payment method. These are our top three British cryptocurrency exchanges, and all of them have low trading costs when purchasing and selling Dogecoin.

Will Dogecoin Reach $1?

On January 1, 2021, Dogecoin was trading at $0.004681, with a peak of $0.7376 on May 8, 2021. It’s uncertain whether it’ll ever reach $1, but it’s a high-risk investment; be cautious.

How To Sell Dogecoin

To sell your Dogecoin, first, input the amount of DOGE you want to sell on your preferred exchange, and then the cryptocurrency trading pair or fiat currency that you’ll be selling it for.

You must first move your coins to the exchange’s mobile wallet before exchanging them for another cryptocurrency if they are held on an external hardware wallet.

In Summary

In the United Kingdom, there are two primary ways to acquire Dogecoin (DOGE), and both will require the use of cryptocurrency exchanges. You may buy an equal amount of the currency on these platforms by using real currencies like the Pound Sterling (GBP) or American Dollars (USD), or you could trade other cryptocurrencies like Bitcoin (BTC) for Dogecoin (DOGE) through a crypto exchange.

CoinSmart is the most well-known and reputable crypto trading platform in the United Kingdom, with a solid reputation for security and simplicity of use. It also has the lowest trading fees of all exchanges in the country, so if you’re looking for a secure, inexpensive method to buy and trade cryptocurrencies, CoinSmart would be your best option.

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The Best Crypto Exchanges In Canada

Best Overall

Supports: 16 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.2%

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★★★★★

Rated 4.9/5

Lowest Fees

Supports: 17 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.1% - 0.2%

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Rated 4.8/5

Best For Altcoins

Trading fees: 0.4%
Security: 95% cold storage
Signup bonus: $10

Trade with 10x leverage.

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Rated 4.2/5