Dogecoin has gotten much attention recently in the cryptocurrency market. A coin that began as an internet joke has swiftly gained significant support and a devoted community. As a result, an increasing number of people are rushing to invest in digital tokens.
As a result, people are constantly searching for ways to acquire Dogecoin. While there are a few solutions to consider in this regard, PayPal is not one of them. Not all exchanges accept PayPal as a method of payment when purchasing Dogecoin. However, this does not preclude it from being possible. Thus, in this post, we will demonstrate how to buy Dogecoin using PayPal. Therefore, relax and read the entire article until the conclusion to see everything we have in store for you.
Not Every Cryptocurrency Exchange Accepts PayPal for Dogecoin Payments
Again, we must emphasize that not all cryptocurrency exchanges accept PayPal for Dogecoin purchases. Indeed, only a small percentage of them will accept this. The primary reason for this is that exchanges do not want cryptocurrency stolen. How?
Following a PayPal purchase, customers can easily report the transaction and request chargebacks. As a result, they receive their money back while still having the asset in their possession. Thus, exchanges eliminate this option from their systems to be safe.
There is, however, a workaround for this. And that is by using a cryptocurrency exchange such as Binance. You can use Binance to purchase Bitcoin using PayPal and convert it to equivalent Dogecoins. However, not every exchange accepts this approach as well. Therefore, let us take a quick review on how to proceed.
How to Buy Dogecoin with PayPal
To do this, we’ll use Binance, a reliable exchange, to purchase Dogecoin with PayPal. It will be a step-by-step process, so you should have no problems. Simply follow the instructions outlined below:
Create a Binance account
This is the initial step. If you do not already have an account with the cryptocurrency exchange, you can create one by visiting their website and registering. If you already have an account, log in to get started.
Buy your Dogecoin
To begin, click the Buy Crypto option at the top of the page. You’ll be prompted to enter your billing information. Proceed with your Bitcoin purchase by selecting the Credit/Debit Card option. Once the Bitcoin has entered your crypto wallet, you may begin the conversion process for your Dogecoin.
Navigate to the Trade Menu
Once you’ve received your BTC, navigate to the Trade Menu option at the top of the website. Then select Convert.
Choose BTC to DOGE and preview the conversion.
Choose the BTC to DOGE conversion option. Let’s say you want to convert 0.3 BTC to Dogecoins; enter 0.3 in the From field and then select Dogecoin in the To field.
Preview your conversion
A new window with a preview of your conversion will open. There, you may verify the amount of DOGE you will receive. Additionally, you will see the conversion rate displayed there. Once everything appears in order, you can confirm the transaction and receive your Dogecoin. That is all. That is a simple way to purchase Dogecoin with PayPal via Binance.
There you have it.
Here are a few more things You Need to Know About Dogecoin?
What Is Dogecoin?
Dogecoin is a decentralized cryptocurrency that launched in 2013. It was designed as a joke but has made significant impacts in the cryptocurrency market since its launch in 2021. Dogecoin’s user interface makes it simple for even crypto newbies to get started investing in it. Dogecoin currently has an unlimited supply, even though it began with a cap of 100 billion coins.
Why Should You Consider Investing in Dogecoin?
If you’re unsure whether you should include Dogecoin in your portfolio, the following points may help you decide:
The coin is now getting significant traction in the cryptocurrency industry and has a more hopeful future than most other coins in the space.
It has a deficient value, which means that the coin has a lot of room to grow.
It is backed by a sizable community, including numerous celebrities and organizations. And all of these factors contribute to its increasing worth.
Do All Cryptocurrency Wallets support Dogecoin?
Sadly, the answer is no. All cryptocurrency wallets do not support dogecoin. You must use one of the specified wallets to get the coin. However, as the currency gains popularity, the number of cryptocurrency wallets supporting it grows. However, some of the best wallet options include CoinBase, Binance, PrimeXBT, and Robinhood.
There are many queries on how to buy Dogecoin using PayPal. However, not all cryptocurrency exchanges support this feature. This is because consumers charge bark on PayPal purchases, depriving cryptocurrency exchanges of their currency.
As a result, only a small percentage of them allow PayPal as a payment method. We discussed Binance in this article and how you can use the popular exchange to purchase Dogecoin using PayPal. If that seems interesting to you, go through the post again for instructions on how to proceed.