Dogecoin has indeed been enjoying huge attention recently in the crypto space. A coin that started as a mere internet joke has quickly grown a lot of traction and a loyal community behind it. Because of that, more and more people are rushing to invest in digital token.
Therefore, people are always on the lookout to know which methods they can use to Dogecoin. While there are a couple of options to explore in this wise, PayPal is not a popular one there. Not all exchanges accept the PayPal payment option for buying Dogecoin. But that doesn’t mean it is not possible. So, in this post, we will be showing you how to buy Dogecoin with PayPal. So relax and read the post to the end to see all that we’ve got for you there.
Not All Crypto Exchange Accepts PayPal Payment for Dogecoin
Again, we need to remind you that not all crypto exchanges will allow you to buy Dogecoin with PayPal. In fact, only a very few of them will accept this. The main reason behind this is that exchanges don’t want people stealing cryptocurrency from them. How?
After making a purchase with PayPal, users can easily report the transaction to PayPal and ask for chargebacks. Hence, they get their money back while they also have the coin with them too. Therefore, exchanges rule out that option from their platforms to stay on the safer side.
However, there is a way around this. And that is using an exchange like Binance, a popular exchange in the crypto space, to first buy Bitcoin with PayPal and then convert it to equivalent Dogecoins. But again, not all exchanges accept this method too. So, let’s take a quick walkthrough of how to go about this.
How to Buy Dogecoin with PayPal
Here, we will be using Binance, a reputable exchange to buy Dogecoin with PayPal. It is going to be a step-by-step approach, so you won’t be having any issues at all. Just follow the steps below:
-
Create an account with Binance
This is the first thing to do. If you don’t already have an account with the crypto exchange, go to their website and register for one. If you already have one, log in to your account to get started.
-
Start your buying process
Click on the Buy Crypto option at the top of the page to get started. You will be required to enter your billing details. Choose the Credit/Debit Card option and proceed with your Bitcoin purchase. Once the Bitcoin reaches your crypto wallet, then you can proceed to make the conversion for your Dogecoin.
-
Go to the Trade Menu
Once you have your BTC in your wallet, click on the Trade Menu option at the top of the page. Then click on the Convert option.
-
Choose BTC to DOGE and preview the conversion
Select the BTC to DOGE option. That means if you are converting only 0.3 BTC into Dogecoins, enter 0.3 in the From space, and then choose Dogecoin in the To option.
-
Preview your conversion
A new window will pop up for you to preview your conversion. There, you will be able to check the amount of DOGE you will be getting. And you will also see the conversion rate listed there too. Once everything looks good, you can then confirm the transaction to get your Dogecoin in your wallet. That’s it. That’s an easy way to buy Dogecoin with PayPal using Binance.
What’s more to Know about Dogecoin?
What Is Dogecoin?
Dogecoin is an open-source cryptocurrency that came to the market in 2013. It was created as a joke but has been making big waves in the crypto space since the opening of 2021. Dogecoin has an easy-to-use interface, making it easy for even crypto beginners to find their feet investing in it. Presently, Dogecoin has an unlimited supply although it started out with a limit of 100 billion coins.
Why Should You Consider Adding Dogecoin to Your Portfolio?
If you are not sure if you should include Dogecoin in your portfolio, here are some points that might motivate you:
- The coin is presently gaining huge traction in the crypto market and so has a promising future than most other coins in the crypto space.
- It has a very low value, and because of that, the coin has a great potential to expand more
- There is a huge community backing it up, including many celebrities and organizations. And these are all contributing to its rise in value.
Is It All Crypto Wallets That Support Dogecoin?
Unfortunately, the answer is no. not all crypto wallets support Dogecoin. There are some very specific wallets you can use to receive the coin. But as the coin begins to grow in popularity, so is the number of crypto wallets supporting it increasing. But some of the best options you can opt for are CoinBase, Binance, PrimeXBT, and Robinhood wallets.
Conclusion
It is not unusual to come across a lot of queries online asking about how to buy Dogecoin with PayPal. But unfortunately, not all crypto exchange allows this option. The reason is because of the way users charge bark on PayPal purchases, leaving crypto exchanges robed of their cryptocurrency.
Therefore, only a very few of them accepts PayPal as a payment option. In this post, we have talked about Binance, and how you can use the popular platform to buy Dogecoin with PayPal. If that sounds interesting to you, go over the post again to see a guide on how to go about it.
