What is Dogecoin (DOGE)?
Dogecoin (pronounced dohj coin) is a cryptocurrency that was started as a joke in 2013, to make fun of the speculative hype around cryptocurrency, but has since rebranded itself as a "fun and friendly internet currency". In 2014, the Dogecoin community wanted to prove that this cryptocurrency had an actual use, and raised funds using DOGE donations to support sporting and charity causes, including raising $30 000 to send the Jamaican bobsled team to Russia for the 2014 Winter Olympics and raising $50 000 to support a Charity: water project to build clean water facilities in Kenya.
After Tesla CEO and billionaire Elon Musk posted several tweets about Dogecoin in 2020, the price of the coin began to pump, and in 2021 the price of the coin reached its all-time high above $0.90 (AUD). Although it was never intended to be, Dogecoin is now an extremely popular cryptocurrency that has it sitting at #7 by market capitalisation.
Where can I buy Dogecoin?
Dogecoin is an extremely popular cryptocurrency, the 7th largest by market capitalisation, so it can be bought on virtually any cryptocurrency exchange. The important thing is to buy DOGE from a respectable and reliable exchange so you aren't getting scammed out of your money. This list of crypto exchanges is a good place to start your research, as they are all registered with AUSTRAC to fight money laundering and terrorism financing.
My top recommendation for buying Dogecoin is Swyftx due to its user-friendly interface, and Live Chat support team. Swyftx even has a Demo mode, not found on other crypto exchanges, where you can practise buying, selling and trading cryptocurrency for free, using play money. As a bonus, if you sign up using this link you will receive $10 Bitcoin FREE to get you started. If you would like to find out more about Swyftx, read my detailed review here.
How to buy Dogecoin?
Buying Dogecoin in Australia is easy. It only takes four simple steps which I will walk you through below:
Step 1: Compare crypto exchanges
Step 2: Create an account
Step 3: Deposit AUD into your account
Step 4: Buy Dogecoin
Step 1 - Compare the best crypto exchanges
The most important step is to find a trusted and secure cryptocurrency exchange that suits your needs. Read my test of the best crypto exchanges, where I determine my top 3 choices, that I list below. In this walkthrough guide on how to buy Dogecoin, I will be using screenshots from my Swyftx account. If you want the easiest way to follow along how to buy Dogecoin, then I suggest you register on Swyftx.
Top 3 Recommendations
Best for OTC trades
Best for Low Fees
If you are still undecided on which exchange is best for buying Dogecoin, this review of the best crypto exchanges for Australians may help you decide. If you will be buying and selling Dogecoin and other coins using your mobile phone, you may find this article about the best mobile cryptocurrency apps helpful.
Step 2 - Create an account
It is really easy to create an account with Swyftx. Click on this link: https://trade.swyftx.com.au/register/ and fill out the short form with your personal information.
After creating your Swyftx account, you will be logged into the Swyftx exchange. From there, you will need to verify your account. In the dark menu on the left, click Profile, which opens a dropdown menu. Click on Verification (highlighted in blue in the screenshot below), and follow the instructions for verification of your mobile, email address and ID. This process should be finished in just a few minutes.
Step 3 - Deposit AUD into your account
Once your account verification is completed, you can now deposit money into your Swyftx account. The fastest way is to click Quick Deposit in the menu, then click Deposit AUD (circled in blue in my screenshot).
You will see a page with all the Deposit Methods listed, and you can select whichever deposit method you prefer. Many Aussies use Bank Transfer - Osko (the first option) because it is instant, and you can buy your Dogecoin straight away without worrying about price fluctuations. If you prefer to use a debit or credit card, then Swyftx is a great choice as it is one of the few exchanges that offers this deposit method. Swyftx does not charge any fees for depositing any amount, using any of their deposit methods. This is great, because you can spend your money on buying Dogecoin or other coins, instead of paying fees.
To deposit instantly using Bank Transfer (Osko), click on the Bank Transfer tab, which is the first option available. The tab will open up with Swyftx's bank account details (circled in blue below). Open another browser tab, and log in to your online bank. Transfer the amount you want to deposit, just like you would send to a friend. Input the account name, BSB, account number and reference details as listed. Once you have made the transfer, refresh your Swyftx account page, and your funds should be in your account. Scroll down to the bottom of the menu on the left, and you will see your AUD in the Balance section.
Step 4 - Buy Dogecoin
Now that your money is in your Swyftx account, you can buy some Dogecoin! At the top of the menu on the left, click on Trade, then click Buy (highlighted in blue in the screenshot below). Now type in Doge next to the magnifying glass icon and click on Dogecoin, in the Assets list. You will be able to see the price of Dogecoin on that page, which will constantly be fluctuating.
Choose how much Dogecoin in AUD that you want to buy (circled in green below). I bought $500 as an example, which gives me 1321 DOGE. Once you have entered the amount, you can click the blue Instant Buy button.
When you click Instant Buy, a window will pop up, with details of the amount of DOGE you want to buy the rate (price you are paying for DOGE), the fee, and the total AUD you are spending. Once you have checked that the details are correct, click the green Confirm Buy button, and your DOGE will now be in your online DOGE wallet on Swyftx. Congratulations, you have bought your first Dogecoin!
Frequently Asked Questions:
Where do I store my Dogecoin after buying?
After purchasing DOGE on any of the best crypto platforms it will be automatically stored in your Dogecoin wallet address on the exchange. It is not recommended to leave your DOGE or any cryptocurrencies on the exchange since it's not as secure as having it in your personal wallet. To hold your DOGE securely, you can send it from your crypto exchange account to your personal wallet (either a hot wallet app or a hardware cold wallet). Be sure to check that the wallet you are sending to supports DOGE. For example, some wallets are only for Bitcoin, and if you try to send your DOGE there, it will be lost and can never be recovered! It's worth noting that the crypto exchange you use may charge a fee for transferring your DOGE to your personal wallet.
Is buying DOGE in Australia legal?
Yes, it is 100% legal to buy, sell and trade Dogecoin in Australia.
Can I use this method for all cryptocurrencies or only Dogecoin?
If the coin that you want to buy is offered on the cryptocurrency exchange you are using, you will be able to use the same method to purchase it. Swyftx offers over 270+ different digital assets so there is a good chance you can use this guide to buy the coin you like. If you are interested in buying Bitcoin, you can also read my simple guide on how to buy Bitcoin.
How to buy Dogecoin with PayPal?
Unfortunately, Paypal is not supported as a deposit method on any of the top Aussie crypto exchanges. I suggest finding an alternative payment method; Swyftx offers several fee-free deposit methods such as bank transfer, POLi, PayID, credit cards and debit cards.
If you are not able to use any other payment methods, and you only have access to PayPal, I have an alternative solution, and that is to use eToro Australia. With eToro, you aren't buying the actual Dogecoin, but instead you are trading CFDs (contracts for difference) which has the same effect if you are speculating on the price of DOGE to rise or fall. However, remember that you do not own any DOGE if you go down this route. If you want to find out more, you can read this review of eToro Australia.
How to buy Dogecoin with credit card?
Swyftx is one of the few Aussie crypto exchanges that accept credit card purchases. You can easily buy DOGE using your credit card, by following the steps above to create an account with Swyftx. When you reach Step 3 of how to buy Dogecoin, select credit card instead of bank transfer.
How to buy Dogecoin with debit card?
Most crypto exchanges in Australia do not support debit card deposits, but Swyftx is one of the few that does. Buying DOGE with your debit card is easy, just follow the steps above to create an account with Swyftx, then at Step 3 of how to buy Dogecoin, select debit card instead of bank transfer.
How do I buy DOGE instantly?
If you want to buy Dogecoin immediately, without depositing money first, have a look at an Aussie exchange called Easy Crypto Australia. With Easy Crypto Australia, when you buy DOGE, you pay for it straight out of your bank account, and your DOGE is sent straight to your personal wallet. You don't need to deposit money into an exchange first, and the Dogecoin is never held on their exchange. You always have control over your fiat and crypto assets. If you want to find out more, there's a detailed review you can read here.
How do I buy Bitcoin?
Buying Bitcoin is easy, it is similar to buying Dogecoin. For an easy-to-follow guide, click here.
How to buy Dogecoin with USDT?
To buy DOGE with USDT, you need to send your USDT to a cryptocurrency exchange that offers coin swaps (I recommend using the secure Swyftx exchange for Aussies). Send your USDT to the USDT wallet address in your Swyftx account. Once your USDT is in your Swyftx account, click Trade in the menu on the left, then Swap. Search for USDT and select USD Tether under Assets. Choose Dogecoin as the coin you want to swap to (circled in green below), then choose how much USDT you want to spend (circled in blue below). To complete your purchase of Dogecoin using USDT, click the blue Swap button underneath.
Is buying Dogecoin in Australia safe?
Yes, if you are using one of the best Aussie crypto exchanges, then it is safe to buy, sell and trade Dogecoin in Australia. All of the best cryptocurrency exchanges (such as Swyftx) feature multi-layered security, and are registered with AUSTRAC so you can buy and sell with peace of mind. Take a look at the summary comparison table below which outlines important information about the best Australian crypto exchanges.
Comparison Table of the Best Crypto Exchanges in Australia
Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us.