Recently, the popularity of Dogecoin has become quite evident. Expanding the time dimension to nearly a year, its increase is astonishing—up to 161 times. In other words, if I had invested 10,000 yuan in Dogecoin a year ago, it would now be worth 1.61 million yuan.
Such an incredible return rate quickly topped the Weibo trending search list and attracted the attention and discussion of many investors. Today, we will provide a detailed introduction to the purchasing process of Dogecoin. However, before we get into the specifics, let's briefly understand what Dogecoin is. Dogecoin, similar to Bitcoin, is a type of digital currency with the code DOGE. It was originally created based on an internet meme but has gradually formed a unique ecosystem in recent years within community culture, social dissemination, and certain application scenarios. Next, using Binance as an example, we will provide a detailed tutorial on buying and trading DOGE to help investors get started quickly.
1. How to buy Dogecoin? Detailed steps for buying DOGE#
Dogecoin has been listed on over 120 mainstream exchanges worldwide, including well-known platforms like OKX, Binance, Huobi, and Gate.io. Below is the complete process for purchasing DOGE through the OKX exchange. To buy DOGE, you first need to hold USDT—
Open the official website of OKX. As one of the top three exchanges globally, registering can reduce trading fees by 20%! New users can also receive a blind box for free, randomly yielding tokens worth $2 to $8.
Click here–> Go to the official website to register an OKX account or alternative link, some regions may require a VPN
- First, visit the OKX official website via the link above. Then, enter your registration email:
- Next, set your phone number. Fill in according to your actual situation, and you can choose a domestic phone number starting with 86. Enter the 6-digit SMS verification code to complete verification:
- After completing the SMS verification, proceed to the next step, verify your country or region, select China, and click next. Confirm when prompted in the pop-up:
Note: The country or region verification must match your identification or proof of residence, so it is recommended to fill it out truthfully. After selecting the region, check the agreements for service terms/privacy policy, and proceed to the next step. Then, set your login password, and after creation, you will be automatically logged into the backend:
This completes the account registration, but identity verification is still pending. Currently, OKX requires identity verification to purchase or recharge digital currencies. Completing real-name verification can randomly yield a blind box, with a maximum reward of 50 USDT.
After registering on OKX, you can easily create an account, complete registration, and log in. Then, you can conduct USDT buying and selling operations on the trading platform.
By clicking the [Register] button, select China as your residence area, and fill in your email. After filling in the information, click [Register] to complete account creation.
Wait for the OKX account registration to finish, download and install the app. If the system prompts a security risk during installation, you can ignore it, as virtual currencies are often falsely reported; this is the official download from the website, and routine prompts are harmless.
Apple users need to log in to the App Store with an overseas Apple ID to download the app. Methods for applying for an overseas (e.g., Hong Kong, US) Apple ID can be searched on Zhihu. Be patient while waiting for the OKX App to install successfully. Then follow the steps to purchase USDT:
Completing this step allows you to exchange RMB for USDT. USDT can be regarded as a stablecoin pegged 1:1 to the US dollar, and this exchange is essential.
After the purchase is complete, check your USDT balance by clicking on [Asset Management] and then [My Assets]. If you need to exchange USDT for other currencies, you can transfer it from your funding account to your trading account, and after the transfer, you can exchange it on the trading platform. Enter the trading interface, select [Spot Trading], and choose the currency, then enter the purchase amount to complete the transaction.
Buying and Selling USDT#
Once you have an OKX exchange account, you can purchase USDT through C2C trading, quick trading, and other methods. You can buy USDT with RMB or exchange USDT for RMB. Here are the specific operation steps—
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- Enter the OKX platform, click the [I want to buy coins] button at the top, and select [C2C Buy Coins].
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- Click on the app homepage— I want to buy coins (C2C Buy Coins) — Quick Trading — select USDT — enter the purchase amount — choose payment method (Alipay, WeChat, or bank card), and transfer to the merchant assigned by the system as prompted, and wait a moment.
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- After clicking the merchant's [Purchase] button, enter the amount and select the payment method. After completing the payment, click [I have paid]. Once the seller verifies the receipt, USDT will be credited directly to your account.
Completing this step allows you to exchange RMB for USDT. USDT can be regarded as a stablecoin pegged 1:1 to the US dollar, and this exchange is essential.
- After clicking the merchant's [Purchase] button, enter the amount and select the payment method. After completing the payment, click [I have paid]. Once the seller verifies the receipt, USDT will be credited directly to your account.
After the purchase is complete, check your USDT balance by clicking on [Asset Management] and then [My Assets]. If you need to exchange USDT for other currencies, you can transfer it from your funding account to your trading account, and after the transfer, you can exchange it on the trading platform. Enter the trading interface, select [Spot Trading], and choose the currency, then enter the purchase amount to complete the transaction.
Converting USDT to DOGE#
If you need to convert USDT to Dogecoin (DOGE), click on the "Trade" at the bottom of the app—select "Spot"—select the [DOGE/USDT] trading pair. Based on the amount of USDT you hold, enter the desired amount of DOGE to buy in the trading area, and click "Buy DOGE" to complete the purchase. If selling DOGE, enter the selling amount and click "Sell DOGE."
You can use limit orders or market orders to purchase Bitcoin.
- Limit Order—Set a target price, and when the market price reaches it, the system will automatically execute the trade.
- Market Order—Trade at the current market price, suitable for users who want to complete the transaction urgently.
After the purchase is complete, check your DOGE balance in [Asset Management].
If you need to sell DOGE for USDT, similarly choose a market order, enter the selling amount, and the system will quickly execute the transaction at the current market price. After selling, you can transfer USDT from the trading account to the funding account, and then sell it for RMB through [C2C Trading].
2. Is Dogecoin still worth investing in now?#
Compared to traditional Bitcoin, Dogecoin takes a more relaxed and community-oriented approach. It was initially used for online tipping and "tip payments," aligning with the American "tipping culture," and quickly became popular on social platforms. With its low entry barrier and "cute" attributes, Dogecoin became the second most popular electronic currency for tipping in the U.S. just a week after its launch.
Although Dogecoin started as a joke project, its actual performance has far exceeded expectations. The DOGE project, created by Jackson Palmer and Billy Markus, remains active even during downturns in the crypto market and is regarded as one of the few online projects that can withstand cycles.
According to Canadian crypto researcher Kevin Rooke, Dogecoin's activity surpasses many mainstream cryptocurrencies. He pointed out that in December 2018, the daily average number of active addresses for DOGE exceeded the levels of December 2017, ranking third among all cryptocurrencies, only behind Bitcoin and Ethereum. Data from the Messari platform shows that on a certain day, DOGE had 72,955 active addresses, only behind Bitcoin's 536,738 and Ethereum's 235,004, far exceeding Tron (21,255).
Additionally, in terms of 24-hour trading volume, Dogecoin performs outstandingly—with nearly 30,000 transactions in a single day and a total amount of $264 million, demonstrating its high network activity and sustained vitality.
Kevin Rooke also pointed out that DOGE's network processing capability and transaction throughput outperform many established cryptocurrencies, such as Bitcoin Cash, Litecoin, and Dash. From a technical perspective, DOGE has become an undeniable crypto network.
3. Advice for newcomers to the crypto world#
Overall, Dogecoin possesses a unique "character" that is rare among other digital currencies—absurd, unruly, humorous, and rich in community sentiment. This characteristic aligns with the current cultural backlash of the "American leek community" against traditional financial institutions (such as hedge funds). Coupled with Elon Musk's repeated support on social media, it further amplifies DOGE's market attention.
From the perspective of price and market capitalization, Dogecoin has a low entry barrier, making it easy for ordinary investors to enter, with significant potential for price increases. Compared to high market capitalization mainstream cryptocurrencies, DOGE has low operational costs and low pressure for price manipulation, making it a favorite among many retail investors.
Of course, some veteran players in the crypto world hold a reserved attitude towards DOGE, believing it lacks practical application scenarios, primarily used for online tipping in the past, with limited promotion afterward, and showing no advantages in the DeFi wave, trending towards marginalization.
However, it cannot be denied that DOGE has evolved from a joke into a force that cannot be ignored in the investment world. For novice investors, understanding its mechanism and purchasing methods is the first step into the crypto world.
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