How To Buy Dogecoin on eToro in 5 Simple Steps

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Dogecoin might’ve started as a joke, but with a market cap of more than $29 billion, this internet meme coin is serious business.

If you’re wondering how to buy Dogecoin on eToro, the process is simple. Log in to your eToro account, or sign up if you’re a new user. Locate Dogecoin (DOGE) in the search bar and click “Trade.” Enter your preferred trade amount and confirm by clicking “Open Trade.”

Keep reading to learn more about buying Dogecoin on eToro.

How To Buy Dogecoin on eToro

Here is a quick look at the steps you can take to buy Dogecoin on eToro.

Step 1. Create an eToro Account

Go to the eToro website and click on the “Start Investing” button. You’ll be taken to a signup page where you have the option of signing in with your Google or Facebook account.

You can also create an account using just your name and email address. A series of prompts will guide you through the rest of the profile creation process.

Step 2. Verify Your ID

Before you can start buying Dogecoin, you have to verify your ID. You can upload a government-issued ID, such as your driver’s license, passport or state ID by taking a picture with your smartphone. While eToro also asks for proof of address, your driver’s license or ID card suffices.

After this step has been completed, you’ll have to wait for the eToro team to process your documents. 

Step 3. Fund Your Account

You must deposit at least $50 but no more than $40,000 before making your first purchase. The minimum for wire transfers is $500. EToro accepts the following funding methods:

• Debit cards
• PayPal — bank account or PayPal balance
• Online banking
• Wire transfer

You can withdraw your funds whenever you want. There’s no withdrawal fee for U.S. users.

Step 4. Search for Dogecoin on eToro

Now that you’re all set up, it’s time to go off in search of Dogecoin. Navigate to the search bar located at the top center portion of your screen and type in “Dogecoin” or just “DOGE.” Then click on the entry and you’ll land on the DOGE overview page.

You can use this page to research DOGE before you place the order. You’ll find the following:

• A price chart
• Market rank
• Volume data
• Links to recent news articles about Dogecoin

Access additional information from the navigation links near the top of the page.

When you’re ready to place your order, click on the “Trade” button to get started.

Step 5. Place Your Dogecoin Order

Enter the amount of Dogecoin that you’d like to purchase. You can enter this sum in dollars. Select the “Open Trade” button when you’re ready to finish buying. 

Optionally, you can make a stop-loss order to automatically sell your DOGE if the price falls to whatever level you specify, or a take profit order to automatically sell if the price increases to a level you specify.

EToro Fees for Buying Dogecoin

The primary fees for buying Dogecoin on eToro are spreads and markups.

A spread is the difference between bid and ask prices.

The bid price is the most a buyer is willing to pay. The ask price is the least a seller is willing to accept, and it’s always the lower amount in the spread. EToro has no control over spreads — they’re determined by the market and are included in the price you see when you buy Dogecoin.

EToro makes its money by adding a 1% markup to the spread. You pay this fee whenever you buy or sell, and it’s also included in the price you see when you place your Dogecoin order.

That fee is high compared to fees from competing exchanges.

• Coinbase, for example, charges 0% to 0.60%, depending on whether the order goes through immediately or is added to an order book to await a matching order.
• Binance.us has similar pricing for orders under $10,000. Fees are lower for larger orders, and it discounts fees by 5% if you use Binance coin to pay them.

EToro doesn’t give you ways to reduce fees. But you can control how frequently you pay them by trading as infrequently as possible.

Storing Your Dogecoin on eToro

EToro will store your Dogecoin for you, but if you’d rather keep it in your possession, you can transfer it to an external wallet, or you can create an eToro Money digital wallet.

Using eToro’s Wallet

EToro’s crypto wallet is integrated into the eToro Money mobile app, so you’ll need to download the app from the Play Store or App Store.

Once the app is installed on your mobile device, you create your wallet by transferring crypto from the investment platform:

1. Navigate to your portfolio on the investment platform.
2. Click on “DOGE” or another asset you want to transfer.
3. Select the trade you’d like to transfer.
4. From the “Edit Trade” screen, select “Transfer to Wallet.”

You can also use the wallet to send and receive crypto to/from other wallets.

Transferring Dogecoin

Transferring Dogecoin out of your eToro wallet is a relatively simple process. What’s more, there’s no fee to transfer coins from your eToro Money wallet to a supported external wallet, but transfers are limited to $50,000 per transaction and $200,000 per day.

Here are the steps you can take:

1. Sign into your account.
2. Under the “Crypto” tab select “Dogecoin.”
3. Tap the “Send” button. You can select the amount of Dogecoin you’d like to transfer and the receiving wallet’s address.
4. EToro will send you a verification text message.
5. Hit the “Verify” button to complete the process.

Benefits of Buying Dogecoin on eToro

Trading with eToro has several benefits:

• Demo accounts: A demo account lets you practice trading before risking real money.
• Ease of use: EToro’s clean, uncluttered interface is easy for beginners to navigate.
• Social trading features: Mimicking successful traders’ portfolios and strategies can help you learn the ropes and avoid mistakes.
• Global access: EToro is supported in dozens of different countries. Note, however, that you can’t use eToro if you’re a U.S. citizen residing in a foreign country.

Risks of Buying Dogecoin on eToro

It’s important to understand the risks of buying Dogecoin on eToro before you begin trading.

• Price volatility: Dogecoin prices can rise and fall quickly, and without warning. That’s true regardless of the platform you use to trade it.
• Trading fees: EToro charges a higher fee than competing platforms such as Coinbase and Binance.

Talon Abernathy contributed to the reporting for this article.

Information is accurate as of March 5, 2025.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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