How to Buy Dogecoin with PayPal [2023] | Step-by-Step

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Summary: While PayPal does give you the option to buy cryptocurrency via its platform, the choice of available crypto coins is severely limited. Notably, Dogecoin is not among the few supported, so it can’t be purchased directly.

However, you can buy Dogecoin using USD or another fiat currency held on your PayPal account by relying on a regulated third-party investing platform like eToro.

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Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

Can you buy Dogecoin with PayPal?

Unfortunately, there are only four tokens available for purchase directly via PayPal – Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). Dogecoin (DOGE) isn’t among them, but even if it were, you probably wouldn’t prefer purchasing it through PayPal directly due to substantial fees involved (up to 1.8% + spread fees).

This is precisely why the most optimal way to buy Dogecoin with PayPal is to use the fiat currency from it as a funding method and make a purchase through a third-party service on much more favorable terms.

How to buy Dogecoin with PayPal?

When it comes to buying Dogecoin (or any other crypto coin), the best way is to use a licensed broker like eToro as a medium. This reputable multi-asset investing platform lends its support to more than 70 various digital currencies and hosts nifty features that include Copy Trading (mimicking tactics employed by the most successful crypto traders), staking, HODLing, a custom watchlist, and a plethora of charts and tools for exhaustive technical analysis.

To buy Dogecoin with Paypal using eToro, all you need to do is connect it with your PayPal account, provided your PayPal has enough funds or a card (Visa, Maestro, MasterCard, Visa Electron) with enough funds linked with it.

How to buy Dogecoin with PayPal: Step-by-Step

Simply follow these four steps and you will be able to buy Dogecoin with PayPal within minutes:

• Step 1: Create an account on eToro and complete your verification (personal or company);
• Step 2: Enter the amount of money you want to deposit on the eToro platform;
• Step 3: Connect your PayPal to deposit your selected fiat currency;
• Step 4: Finally, find Dogecoin on the given list of cryptocurrencies and proceed with the transaction.

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts

Get Started

Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

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About PayPal

PayPal (NASDAQ: PYPL) is a digital payment system that enables individuals and businesses to send and receive money online. The entire process is simple for the end user as transactions via PayPal require nothing more than a bank account or credit/debit card linked to it in order to securely and reliably process payments via an Internet browser or a mobile app. PayPal is available in almost every country in the world for many purposes, but most notably in e-commerce as it supports more than 25 currencies.

PayPal has also shown readiness to embrace new technologies lately, which is something that traditional transactional services have been reluctant to do. For example, PayPal has been vocal about its belief that cryptocurrencies will become an increasingly important part of the global financial system, which makes it a fertile platform for transactions such as buying Dogecoin. 

PayPal crypto policy

As a crypto-friendly platform, PayPal does not only support cryptocurrency, but it also allows a couple of different coins to be purchased directly through its app, as mentioned above. There are no official policies that hinder or discourage users from using funds from its accounts to invest into cryptocurrencies of any kind. Moreover, PayPal has expressed support for the integration of crypto into global finances.

How to buy crypto safely

As the most recent addition to global finances, cryptocurrencies are a trendsetter in the process of democratization of the world’s economy. However, the fact that just about anyone can start dealing with crypto, combined with the small span of time in which cryptocurrency flourished, has made prices highly unstable and the whole industry susceptible to scammers and fraudsters. Both seasoned veterans and novice investors can find themselves as targets.

Their biggest advantage can at times be their biggest flaw – crypto assets remain unregulated. No matter how much effort is put into enforcing obligations on registered broker-dealers, digital currencies themselves still remain outside regulations.

There are steps, however, that you can take to make sure that you remain as safe as possible when dealing with crypto. No matter what type of digital currency you’re looking to purchase, make sure to closely observe the following advice:

• Research the cryptocurrency you want to buy: Make sure you understand how crypto functions and what the risks involved are;
• Only use a safe device: Avoid public computers and Wi-Fi networks. Use VPN as an additional layer of protection that helps establish a secure connection between you and the web, keeping your private data secure;
• Choose an upstanding exchange: Confirm that the exchange is registered with the relevant regulators in your country and has a transparent and clean track record. Take a close look at the exchange’s user terms and agreements to find out where your funds are kept and what happens to your money in case of a breach or if the business goes bankrupt. Do a web search for user reviews to spot any potential red flags;
• Secure your account: Use two-factor authentication (2FA) and a strong password to protect your account;
• (Optional) Obtain a crypto wallet: Keeping your cryptocurrency in a secure wallet keeps it safe from online breaches and hackers. Whether you go for a hot (online) or cold (offline) wallet, it will represent an additional layer of security that can’t do harm. To help you opt for the right one, check out our detailed guide on crypto wallets;
• Only invest money that you can afford to lose: The crypto market is volatile, the prices are susceptible to sudden and broad shifts, and digital asset investments are even less predictable than traditional stocks and commodities. Be conservative with your investments and play safe, especially so when just starting out. Avoid these mistakes;
• Monitor your investments: Keep a close eye on the market and stay vigilant for any changes in the price of the cryptocurrency you’re investing in.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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