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Do not invest unless you are prepared to lose all the money you invest. Cryptoassets are high-risk investments, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Additionally, capital gains tax may apply to profits from cryptocurrency sales.
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To buy Dogecoin (DOGE) in the UK, you’ll need to:
We’ve put together a list of the best places to buy Dogecoin in the UK. These are crypto exchanges, platforms, wallets, apps, and websites where you can buy Dogecoin, Bitcoin, Ethereum, Solana, Cardano, and other cryptocurrencies in the UK.
Please remember that cryptoassets like Dogecoin are highly volatile, unregulated investment products with no UK or EU investor protection. You could lose all the money you put into them. Additionally, capital gains tax may apply to profits from cryptocurrency sales.
Here are the best places to buy Dogecoin in the UK:
eToro is a multi-asset trading platform that enables you to trade or invest in cryptocurrencies, NFTs, stocks, ETFs, commodities, forex, and indices. With eToro, you can trade over 70 “real” cryptocurrencies, including popular coins like Bitcoin, Ethereum, XRP, Binance Coin (BNB) and Dogecoin.
Crypto trading on eToro is suitable for both beginners and advanced traders. Beginners can benefit from the educational materials, user-friendly desktop and mobile apps and copy trading tools (which allow you to copy the trades of top-performing crypto traders on the eToro platform). Advanced traders can take advantage of superior charting and analytics tools, social trading features, and real-time crypto market news and insights. You can also benefit from eToro’s risk management tools, such as Stop Loss, Take Profit and Trailing Stop Loss, to better manage your positions, protect your investments and secure your profits. Stop Loss and Take Profit are not guaranteed.
It is entirely free to open an account with eToro, and all registered users receive a US$100,000 demo account for free, which you can use to practise buying crypto and other assets before committing real money. eToro does not charge a deposit fee but charges a 1% trading fee on all crypto positions. Trading on eToro occurs in USD, so a conversion fee will apply if you deposit or withdraw in a currency other than USD. Withdrawals incur a fee of US$5 (£4), and the minimum withdrawal amount is US$30 (£24). For UK customers, eToro offers an eToro Money app that allows you to convert your GBP to USD free of charge, thereby reducing your foreign exchange costs. The app also functions as a crypto wallet for storing your crypto holdings and allows for easy transfer of your cryptocurrency from one exchange or wallet to another.
Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.
CoinJar is a cryptocurrency app and exchange based in the UK and Australia. With CoinJar, you can trade or invest in 50+ cryptocurrencies, including popular coins such as Bitcoin, Ethereum, XRP, USD Coin, Dogecoin and Shiba Inu Coin. The CoinJar app, which doubles as a crypto wallet, allows you to buy, sell, hold, spend and transfer cryptocurrencies securely on your desktop, iOS or Android device. The CoinJar card lets you make purchases with your crypto, online and in-store, anywhere Mastercard is accepted. It is free to activate the CoinJar card, and there are no monthly fees for using it. When paying with the card, your crypto is automatically converted to fiat currency using CoinJar’s best rates at the time of the transaction. You can choose to have a virtual or physical card or both. The CoinJar card is fully integrated with Google Pay, so Android users can spend crypto instantly and securely with any device.
CoinJar has a unique feature called a Crypto Bundle. A Crypto Bundle is a themed basket of cryptocurrencies, similar to a crypto index fund, crypto ETF or a ready-made stock portfolio. For example, you can buy a CoinJar Universe bundle, which is a portfolio of all the cryptocurrencies available on CoinJar. One investment into such a bundle means you have invested in every cryptocurrency available on CoinJar with just a click of a button. Crypto Bundles can either be proportional, where the weight of each cryptocurrency in a bundle is equal or cap-allocated, where the weights are allocated based on market cap performance.
CoinJar is suitable for both beginners and advanced traders. Beginners can take advantage of the easy-to-use app and ready-made crypto portfolios, while advanced and professional traders can take advantage of CoinJar’s institutional-grade crypto solutions, such as the CoinJar OTC, with razor-thin spreads and globally sourced liquidity. The minimum deposit to open an account with CoinJar is £10. Deposits are made in GBP, so FX fees do not apply. There is a trading fee of 1% on the CoinJar mobile app and website. The CoinJar Exchange (for market orders and aggressive limit orders) charges 0.00% for Taker orders and 0.10% - 0.04% for Maker orders (limit orders).
Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.
Uphold is a beginner-friendly cryptocurrency exchange that allows you to buy and sell over 250 cryptocurrencies, including majors, altcoins and emerging tokens such as Bitcoin, Ethereum, XRP, Dogecoin, Polkadot, ApeCoin, PancakeSwap and Audius. Users can also buy and sell up to 3 national currencies, including GBP, EUR and USD and enjoy competitive forex rates. Uphold offers a free virtual crypto card that allows you to spend your crypto anywhere a Mastercard is accepted. With the Uphold crypto card, you receive up to 1% cashback on your card transactions paid to you in GBP. The card has no transaction fees when spending locally or internationally and can be easily linked to Apple Pay or Google Pay.
As an Uphold customer, you can earn staking rewards when you put your digital assets to work. Currently, customers can earn up to 13% APY. Please keep in mind that staking rates are variable and may change at Uphold’s discretion. Uphold offers crypto wallets for up to seven cryptocurrencies and crypto networks. Customers can store their crypto in the Uphold Bitcoin Wallet, Ethereum Wallet, XRP Wallet and many more. With Uphold, you can schedule regular transactions using AutoPilot, which allows you to set up recurring buy or sell orders and reduce the impact of price volatility. As an Uphold customer, you can also take advantage of the limit order feature, which allows you to buy or sell a cryptocurrency at a specified price. Customers can place up to 50 limit orders using one pool of capital.
There are multiple fees involved when trading crypto on Uphold. The most important fees to look out for are trading fees, FX fees, and market spreads. In the UK, US and Europe, Uphold charges a market spread ranging from 0.9% to 1.2% on BTC and ETH. Spreads can be significantly higher for low-liquidity cryptos and tokens such as XRP, ZIL, OXT, UPT, DOGE and others. You will be able to see the total cost of your trade before you place the trade. Uphold charges a withdrawal fee of $3.99 for bank transfers and $2.99 for crypto transfers. Visit Uphold to learn more.
Please note: Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take two minutes to learn more. Cryptoassets are not regulated by the FCA and are not subject to protection under the FSCS or within the scope of jurisdiction of the Financial Ombudsman Service. Capital gains tax may apply to profits from cryptocurrency sales.
Dogecoin is an open-source, peer-to-peer digital currency that brands itself as the “fun and friendly internet currency”. It was created by software engineers Jackson Palmer and Billy Markus in 2013 as a parody of Bitcoin, inspired by the ‘doge’ meme. It is now one of the most popular cryptocurrencies in the world, with a market cap of almost £14 billion (at the time of writing).
Dogecoin is based on technologies similar to other cryptocurrencies like Bitcoin but with faster access speeds and more affordable transaction costs. It uses the Scrypt hashing algorithm and proof-of-work protocol to enable it to receive work from other Scrypt-based networks.
Through the support of large online communities on platforms such as Reddit, Twitter and Discord, combined with publicity stunts like funding the Jamaican Bobsled team for the 2014 Winter Olympics, Dogecoin has become immensely popular, and its price has grown by more than 4,000%.
Unlike other cryptocurrencies like Bitcoin, Dogecoin has no maximum supply, and its miners earn 10,000 DOGE per block. Each block is created every minute, but only five billion Dogecoin are added every year.
Like many cryptocurrencies, Dogecoin operates on a decentralised network of computers that uses blockchain technology. Blockchain is a distributed, secure digital ledger that records and stores all the transactions made on its network. You can think of a blockchain like your bank statement or a bank ledger where you can see a history of transactions carried out over a particular period.
Dogecoin has its own blockchain, which relies on a proof-of-work consensus algorithm that ensures a miner can add a new block of transactions only if all the network mining nodes agree on the block’s validity. The network also verifies transactions and ensures the integrity of the data using cryptography.
Dogecoin is a peer-to-peer digital currency that can be used to pay for goods and services, tip people for services over the internet, or simply send digital money from person to person.
Transactions can be made semi-anonymously, even if a record is available publicly on the blockchain. And you can do this without going through a traditional intermediary such as a bank. Dogecoin is not a currency that effectively stores value due to the infinite number of coins that can be created. It is also most often used for light-hearted clout.
To buy Dogecoin in the UK, you’ll need to:
No, Elon Musk does not own Dogecoin. Dogecoin was created by Jackson Palmer and Billy Markus in 2013.
In early 2021, Elon Musk first announced that he personally holds some Dogecoin, which caused the value of Dogecoin to increase by nearly 15,000% in seven months. He has not disclosed how many Dogecoin he owns, but in February 2021, Musk revealed in a tweet that he had donated to a nonprofit organisation via Dogecoin. Reddit fans tracked the nonprofit’s transactions and speculated that Musk might have donated around 150,000 DOGE. In July 2022, Tesla sold most of its Bitcoin investments, but interestingly, Musk announced that no Dogecoin had been sold.
As with all cryptocurrencies, there are general risks, such as losing all your money if you lose access to your wallet. Though a network of decentralised nodes means that no single entity controls the network and that all participants need to agree on the blockchain in order for a block to be valid, it also means that no protective measures can be taken if you are a victim of a scam or fraud.
A 51% attack occurs when a single person or group does manage to control over 50% of the blockchain’s ability to generate a code, which allows them to block new transactions from being confirmed, change the order of transactions and ‘double-spend’, i.e. use the same cryptocurrency twice or more. Ethereum and Bitcoin have suffered 51% of attacks, and their networks are made up of a significantly higher number of decentralised nodes than Dogecoin’s 1,090 nodes. So, Dogecoin may be less safe due to relatively weaker security.
As with all investments, it is up to you to decide whether Dogecoin is worth your money. Like most cryptocurrencies, Dogecoin is a speculative investment - its price is determined solely by what other people are willing to pay for it. Dogecoin is also not backed by any assets or cash reserves. If you decide to invest in Dogecoin, please note that profit is not guaranteed, and you could lose everything you put into it.
Dogecoin is cheap primarily because it was designed to be plentiful in volume. Whereas Bitcoin was designed to be scarce and resist inflation, Dogecoin is intentionally abundant, and there is no maximum supply. Bitcoin’s software limits the number of Bitcoins in circulation to 21 million, but over 130 billion Dogecoin exist, and 10,000 Dogecoin are issued every minute.
Dogecoin’s abundance means it is not a practical cryptocurrency to store value, but you can pay with and send Dogecoin fairly easily with most crypto exchanges. Given that most of Dogecoin’s spikes in value follow Elon Musk’s tweets and viral publicity stunts, it may not be suited to any investors who are planning for their futures in the long term.
You can sell Dogecoin and cash out on a cryptocurrency exchange such as eToro, CoinJar, or Uphold, the same way you place your buy order to purchase Dogecoin.
Dogecoin’s coding is similar to Bitcoin’s. Billy Markus (one of the creators) has even stated that he used the Control F function to scroll through Bitcoin’s code and replace all occurrences of the word ‘Bitcoin’ with ‘Dogecoin.’ However, there are some notable differences:
The current price of one Dogecoin is £0.10 (at the time of writing). You can find the current price of Dogecoin on CoinMarketCap at any time.
You can buy Dogecoin in the UK from the following crypto exchanges:
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