To start with, it is not available on Coinbase. In fact, many users who buy this cryptocurrency are small investors or amateur traders, and Coinbase is a platform widely used by these types of people. Therefore, many people look for it on this exchange, but don’t find it simply because it’s not there.
Instead, the platform on which it is most traded is Binance, which is also the largest crypto exchange in the world.
However, it must be said that on this exchange the largest trading volumes of DOGE are not in fiat currency, but in stablecoins.
That is, most people who buy DOGE on Binance do so with USDT or BUSD, which are two stablecoins pegged to the US dollar. Both of these stablecoins can be bought on Binance if you wish.
However, the DOGE/EUR exchange pair on Binance has significant volumes, so if you want to buy Dogecoin in euros, you can do so on Binance. If you want to buy in US dollars, you need to use the US version of Binance, Binance.us.
How to buy Dogecoin outside Binance
The second exchange on which it is traded in USDT is VCC Exchange, but there are also significant volumes on OKEx, Huobi Global and XT, also in USDT.
As an alternative to Binance.us, those wishing to buy DOGE in US dollars can use the Kraken exchange, which has even more significant trading volumes for the DOGE/USD pair. There are also significant trading volumes in euros on this exchange.
In reality, however, there are many exchanges on which you can buy DOGE, even in other fiat currencies, so much so that both CoinMarketCap and CoinGecko report at least 100 different trading pairs on various exchanges.
So to buy Dogecoin you simply need to choose an exchange where there is a DOGE trading pair in the currency you want to use for your purchase. The CoinMarketCap and CoinGecko lists allow you to check which are the main pairs, and on which exchanges they are found.
Usually, it is best to choose pairs with higher volumes, because they are more liquid, and therefore with prices that follow the trend with greater precision, and lower spreads between the selling and buying prices.
Once you have chosen the right exchange, you will need to register, if you haven’t already done so, verify your identity if necessary, deposit the currency you intend to use for the purchase, and place a purchase order in the relevant exchange pair with DOGE. These procedures vary from exchange to exchange, but one thing is usually the same: on purchases made with credit or debit card transactions there are generally higher commission costs. Therefore, if you wish to make a purchase in fiat currency, it is best to deposit the funds by bank transfer.