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Tuesday, Aug 03, 2021

What are the best crypto apps for trading Dogecoin

What are the best crypto apps for trading Dogecoin

Have you heard of Dogecoin, but not sure where to buy it? There are currently several options to trade Dogecoin, and that doesn't just include cryptocurrency exchanges. You can purchase Dogecoin through mobile-only crypto brokers, online brokerages, and other finance apps. Here's a shortlist of places to buy Dogecoin:
Exchange Fees Best for
Kraken 0% – 0.26% Futures and margin traders
Binance.US 0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with US debit card) Peer-to-peer trading
eToro 0.75% – 5% spread, depending on cryptocurrency (0.1% crypto-to-crypto conversions) Beginners
Voyager 50+ cryptocurrencies, 2% interest for holding a minimum of 5,000 DOGE, FDIC insurance on USD holdings Low fees
Gemini $1.50-$4.50 fee for web transactions between $15 and $250 (1.49% fee for transactions over $250); 0.50% convenience fee; 3.49% for debit card transfers Bitcoin, ethereum, and dogecoin traders
Bittrex 0-0.35% maker/taker fees Account security

Arguably amongst the ranks of bitcoin, ethereum, and other crypto assets, dogecoin is a popular cryptocurrency that has captured the attention of traders around the world. In fact, through regular tweets and public displays of support, Tesla CEO Elon Musk has been among the driving factors of its momentum.

Created in 2013 by Billy Markus and Jackson Palmer, the coin’s mascot (known as “Doge”) comes from the Shiba Inu Japanese dog breed that was popularized in a series of online memes. 

Dogecoin’s prices have rapidly fluctuated over the past few months, even tripling in value in early April. If you’re wondering where to buy dogecoin, keep reading to find the best option for you.

Kraken: Best for futures and margin traders

Kraken
Account minimum Depends on type of cryptocurrency
Fees 0% – 0.26%
Features • Nearly 60 cryptocurrencies
• Margin and futures trading
• OTC trading
• Account management for HNW individuals and institutional clients
• Multiple trading platforms
• Educational resources
• Staking rewards
Open account

Why it stands out: Kraken offers exceptionally low trading fees with close to 60 cryptocurrencies for traders in the US and across the globe. Besides dogecoin access, its account perks feature futures trading (futures are contracts that give you the right to buy or sell an asset at a certain price on an upcoming date), margin trading, staking rewards (staking gives you interest rewards for holding crypto assets for a set period of time), over-the-counter (OTC) trading, and crypto services for institutional clients.

If you’re new to the crypto game, don’t worry. Kraken offers several educational resources for those looking to expand their investing knowledge. These include How to Buy DogecoinHow to Buy BitcoinHow to Buy Ethereum, and How to Buy Litecoin.

Kraken also offers multiple mobile apps for iOS and Android users. These include Kraken, Kraken Pro, and Kraken Futures. US traders should note, however, that the futures platform isn’t currently available in the US.

What to look out for: Kraken doesn’t currently serve traders in New York or Washington State (see a complete list of its geographic restrictions here). If you live in either of those areas, you’ll need to consider other exchanges.

Also, as mentioned above, Kraken Futures is not available in the US.

Visit the Kraken website »

Binance: Best for peer-to-peer trading

Binance.US
Account minimum $10
Fees 0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with US debit card)
Features • Automated recurring buys
• Over-the-counter trading
• Staking rewards
• Crypto pairs
• Institutional trading services
Open account

Why it stands out: Formed as a US extension of Binance in 2019, Binance.US offers dogecoin, bitcoin, and more than 50 other cryptocurrencies. Unlike Kraken, it doesn’t provide margin and futures accounts. But like Kraken, Binance.US offers staking rewards, OTC trading, and trading options for institutional clients.

In addition, if you’re big on crypto-to-crypto exchanges, there’s no shortage of crypto trading pairs at Binance.US (trading pairs consist of two assets that can be exchanged for one another). For instance, the exchange’s two Dogecoin trading pairs are DOGE/USD and DOGE/USDT.

And Binance.US has low fees compared to other exchanges. You’ll only need $10 to get started, and you’ll either pay 0.1% or 0.5%, depending on how fast you want your trades executed.

What to look out for: Binance.US has several geographic restrictions. You won’t be able to use the app if you’re a resident of Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont.

Visit the Binance.US website »

eToro: Best for beginners

eToro
Account minimum $50 ($25 to trade)
Fees 0.75% – 5% spread, depending on cryptocurrency (0.1% crypto-to-crypto conversions)
Features • Dogecoin and 15+ cryptocurrencies
• CopyTrader system
• Copy Portfolios
• eToro Trading Academy
Open account

Why it stands out: Though eToro USA has a more limited selection of investments — it currently offers dogecoin and 16 other cryptocurrencies — the exchange makes up for it with its easy-to-use interface, community-like crypto features, and educational resources.

One of eToro USA’s most popular features is its CopyTrader system. This feature is best for beginner traders, as it allows you to tie your portfolio strategies to that of more advanced crypto traders. In other words, you can use the feature to have your portfolio mimic the portfolios of top-performing traders. 

When it comes to educational offerings, eToro provides both written investing guides and an eToro Trading Academy that includes video tutorials on crypto trading.

What to look out for:  eToro USA doesn’t offer margin accounts, so it isn’t the best option for traders who seek additional buying power. In addition, you won’t be able to use the exchange if you live in New York, Delaware, Minnesota, New Hampshire, Nevada, Puerto Rico, Tennessee, Hawaii, Guam, American Samoa, and the US Virgin Islands.

Visit the eToro USA website »

Voyager: Best for low fees

Voyager
Account minimum $10 to trade
Fees 0%
Features • 50+ cryptocurrencies
• 2% interest for holding min. 5,000 DOGE
• FDIC insurance on USD holdings
Open account

Why it stands out: Voyager isn’t an exchange; it’s a mobile cryptocurrency broker that connects you to crypto trading opportunities through its proprietary routing technology. Nonetheless, the investment app offers commission-free trading on more than 50 cryptocurrencies, including dogecoin.

You’ll need at least $10 to trade, but Voyager offers several other perks, including interest on your crypto (up to 10%), FDIC insurance on USD holdings, fraud protection, and easy mobile access for iOS and Android users.

What to look out for: Voyager doesn’t currently allow coin-to-coin exchanges, nor does it let you decide where your trades are executed. In addition, the crypto app is available to all US states, except for New York. You’ll need consider other cryptocurrency exchanges if you’re a New York resident.

Visit the Voyager website »

Gemini: Bitcoin, ethereum, and dogecoin traders

Gemini
Account minimum $0
Fees $1.50-$4.50 fee for web transactions between $15 and $250 (1.49% fee for transactions over $250); 0.50% convenience fee; 3.49% for debit card transfers
Features • Trading options for beginners, experts, and institutions
• Gemini Earn, Gemini Wallet
• $200 million insurance in Gemini Custody
Open account

Why it stands out: Gemini offers more than 30 crypto assets, including dogecoin. You won’t need a minimum amount to get started, but you’ll run into different fees for web transactions and mobile transactions. And you’ll also incur a 0.50% convenience fee for each transaction.

But besides its fee schedule, Gemini offers an array of other features that beginner or experienced crypto traders might enjoy. These include its crypto rewards program (this allows you to earn up to 7.40% on certain assets), its Active Trader platform for advanced traders, its wallet storage options, and its educational webinars. 

What to look out for: This exchange only offers seven cryptocurrencies: Bitcoin, ethereum, litecoin, bitcoin cash, zcash, filecoin, and dogecoin. The remainder of its investment collection is made up of ERC-20 tokens.

Visit the Gemini website »

Bittrex: Best for account security

Bittrex
Account minimum $3
Fees 0-0.35% maker/taker fees
Features • Instant buy/sell
• Highly secure cold storage
• Mobile access
Open account

Why it stands out: While Bittrex’s $3 minimum and transaction fees are hard to beat, the exchange also excels when it comes to ease-of-use and account security. Its Instant Buy and Sell feature gives you the option to quickly trade dogecoin and other popular assets with the click of a button.

And if you’re a fan of account security, there’s no shortage of it with this exchange. Bittrex uses two-factor authentication, plus a multi-stage wallet strategy that ensures your crypto assets are securely stored through offline hardware. 

The exchange is also available on iOS or Android devices.

What to look out for: Bittrex currently offers fewer than 25 crypto assets. If you’re looking for a wider range of investments, you may need to consider other apps.

Visit the Bittrex website »

Other apps you could consider:

Webull: Webull is an online brokerage offering cryptocurrencies, stocks, ETFs, options, and more. You’ll only need a minimum of $1 to start trading, and the brokerage offers the following crypto assets: Bitcoin, dogecoin, bitcoin cash, ethereum, litecoin, ZEC, and XLM. It also offers 24/7 trading, but you won’t have as many crypto choices as other popular exchanges.

RobinhoodCommonly known as a pioneer of commission-free trading, Robinhood offers stocks, ETFs, options, American depositary receipts (ADRs), and cryptocurrencies. But like Webull, the brokerage has a more limited offering of crypto assets. Its cryptocurrency list includes dogecoin, bitcoin, bitcoin cash, bitcoin sv, ethereum, ethereum classic, and litecoin.

Crypto.comCrypto.com offers several impressive features, including more than 100 cryptocurrencies, crypto storage options, and interest rewards (you can currently get up to 14% on your crypto assets). But many of its coins aren’t available to US traders.

ChangellyFounded in 2015, Changelly is a Malta-based cryptocurrency exchange offering more than 170 crypto assets. Though the platform’s trading algorithm integrates with crypto apps like Poloniex and Bittrex, it isn’t currently available to US customers.

SourceWhat are the best crypto apps for trading Dogecoin May 2021 – Fintechs.fi

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