Recently, the popularity of Dogecoin has attracted much attention. Looking back over the past year, its increase has reached an astonishing 161 times. This means that if you had invested 10,000 yuan in Dogecoin a year ago, it would now be worth 1.61 million yuan.
Such an incredible return rate quickly topped the Weibo hot search list, sparking interest and discussion among many investors. Today, we will provide a detailed introduction to the process of purchasing Dogecoin.
Before proceeding, let's briefly understand Dogecoin: it is a digital currency like Bitcoin, with the code DOGE. Originally inspired by internet memes, it has developed a unique ecosystem in recent years through community culture, social dissemination, and application scenarios. Next, using Binance as an example, we will provide a detailed tutorial on buying and trading DOGE to help investors get started quickly.
1. How to buy Dogecoin? Detailed steps for buying DOGE#
Dogecoin has been listed on over 120 mainstream exchanges worldwide, including well-known platforms like OKX, Binance, Huobi, and Gate.io. Below is the complete process for purchasing DOGE through OKX. Before buying DOGE, you need to hold USDT—
Open the official website of OKX, one of the top three exchanges globally, and register to enjoy a 20% discount on trading fees! New users can also receive a free mystery box containing random cryptocurrencies worth $2 to $8.
Click here–> Go to the official website to register an OKX account or alternative link, some regions may require a VPN
- First, visit the OKX official website via the link above. Enter your registration email:
- Next, set your phone number. Fill in according to your actual situation, select a domestic phone number starting with 86, and enter the 6-digit SMS verification code to complete verification:
- After SMS verification, proceed to the next step, verifying your country or region. Select China and click next, confirming when prompted:
Note: The country or region verification must match your identification or proof of residence, so it is recommended to fill it out truthfully. After selecting the region, check the service terms/privacy policy agreements and proceed to the next step. Set a login password, and once completed, you will be automatically logged into the backend:
Account registration is complete, but you need to complete identity verification to purchase or recharge digital currency. After real-name verification, you can randomly receive a mystery box with a maximum reward of 50 USDT.
After registering on OKX, easily create an account and log in to buy and sell USDT on the trading platform.
Click the [Register] button, select China as your residence, fill in your email, and click [Register] to complete account creation.
After registration, download and install the APP. If you encounter a security risk prompt during installation (system false positive), you can ignore it.
Apple users need to use an overseas Apple ID to log into the App Store to download the APP (application methods can refer to Zhihu). After successful installation, follow these steps to purchase USDT:
Completing this step allows you to exchange RMB for USDT. USDT is pegged to the US dollar at a 1:1 ratio, making this exchange essential.
After purchasing, click on [Asset Management] and then [My Assets] to check your USDT balance. If you need to exchange for other cryptocurrencies, transfer USDT from your funding account to your trading account, and then exchange on the trading platform. Enter the trading interface, select [Spot Trading] and the target cryptocurrency, enter the amount, and complete the transaction.
Buying and selling USDT#
Once you have an OKX account, you can purchase USDT through C2C trading or quick trading. It supports purchasing USDT with RMB or exchanging USDT for RMB. The specific operation steps are as follows:
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- Enter the OKX platform, click [I want to buy coins] at the top, and select [C2C Buy Coins].
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- Click on the App homepage— I want to buy coins (C2C Buy Coins)— Quick Trading— select USDT— enter the purchase amount— choose to pay via Alipay, WeChat, or bank card, and transfer to the system-assigned merchant as prompted, and wait a moment.
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- Click the merchant's [Buy] button, enter the amount, and select the payment method. After completing the payment, click [I have paid]. After the seller verifies the payment, USDT will be credited to your account.
Completing this step allows you to exchange RMB for USDT. USDT is pegged to the US dollar at a 1:1 ratio, making this exchange essential.
After purchasing, click on [Asset Management] and then [My Assets] to check your USDT balance. If you need to exchange for other cryptocurrencies, transfer USDT from your funding account to your trading account, and then exchange on the trading platform. Enter the trading interface, select [Spot Trading] and the target cryptocurrency, enter the amount, and complete the transaction.
- Click the merchant's [Buy] button, enter the amount, and select the payment method. After completing the payment, click [I have paid]. After the seller verifies the payment, USDT will be credited to your account.
Purchasing DOGE with USDT#
If you need to exchange USDT for Dogecoin (DOGE), click on the bottom of the APP "Trade"— select "Spot"— select the [DOGE/USDT] trading pair. Based on the amount of USDT you hold, enter the amount of DOGE to buy in the trading area, and click "Buy DOGE" to complete the purchase. When selling DOGE, enter the amount and click "Sell DOGE."
You can use limit orders or market orders:
- Limit order: Set a target price, and the trade will execute automatically when the market price reaches that level.
- Market order: Trade at the current market price, suitable for quick transactions.
After purchasing, check your DOGE balance in [Asset Management].
When selling DOGE for USDT, choose a market order and enter the amount; the system will execute the transaction quickly at the market price. After selling, transfer USDT from the trading account to the funding account and sell it for RMB through [C2C trading].
2. Is it still worth investing in Dogecoin now?#
Compared to traditional Bitcoin, Dogecoin takes a relaxed community-oriented approach, initially used for online tipping and "tip payments," aligning with the American tipping culture, and quickly became popular on social platforms. With its low entry barrier and cute attributes, it became the second most popular electronic tipping currency in the U.S. within a week of its launch.
Although Dogecoin started as a joke project, its actual performance has far exceeded expectations. The DOGE project, created by Jackson Palmer and Billy Markus, remains active even during downturns in the crypto market and is considered one of the few network projects that can transcend cycles.
According to Canadian researcher Kevin Rooke, Dogecoin's activity surpasses most mainstream cryptocurrencies. In December 2018, its daily active addresses exceeded the levels of December 2017, ranking third among all cryptocurrencies, only behind Bitcoin and Ethereum. Messari data shows that on a certain day, DOGE had 72,955 active addresses, far exceeding Tron (21,255).
In terms of 24-hour trading volume, Dogecoin is also impressive— with nearly 30,000 transactions in a single day, totaling $264 million, demonstrating high network activity and sustained vitality.
Kevin Rooke also pointed out that DOGE's network processing capability and transaction throughput outperform established cryptocurrencies like Bitcoin Cash, Litecoin, and Dash. From a technical perspective, DOGE has become an undeniable force in the crypto network.
3. Advice for newcomers to the crypto world#
Overall, Dogecoin has a unique character— absurd, free-spirited, humorous, and rich in community sentiment, resonating with the current cultural backlash of the "American leek community" against traditional financial institutions (such as hedge funds). Coupled with Elon Musk's repeated endorsements on social media, the market attention on DOGE has further amplified.
From a price and market value perspective, Dogecoin has a low entry barrier, making it easy for ordinary investors to enter, with significant potential for price increases. Compared to high market cap mainstream cryptocurrencies, DOGE has low operational costs and less upward pressure, making it a favorite among retail investors.
Some veteran players in the crypto world hold a reserved attitude towards DOGE, believing it lacks practical application scenarios (mainly used for online tipping in the past) and has limited advantages in the DeFi wave, leading to a marginal performance.
However, it is undeniable that DOGE has evolved from a joke to an undeniable force in the investment world. For novice investors, understanding its mechanisms and purchasing methods is the first step into the crypto world.
🔥 Solving the issue of accessing OKX exchange in China#
Many exchanges' original domain names may be restricted or their servers located overseas, leading to slow access, causing users to mistakenly think there is a platform issue. In reality, it is often due to the network environment, and the platform regularly updates alternative domain names to ensure access.
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- OKX alternative domain Overseas OKX - requires VPN or alternative link
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- Binance alternative domain Binance
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- Bitget alternative domain Bitget
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- Bybit alternative domain Bybit/Bybitglobal
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- Huobi HTX alternative domain Huobi (Huobi/HTX)
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- Gate alternative domain Gate.io (Gate)
🔥 Further reading#
🔥 Useful tools for finding gold in the crypto world#
1️⃣ Axiom Dogecoin tool https://axiom.trade
2️⃣ Gmgn Dogecoin tool https://gmgn.ai
3️⃣ dbot Dogecoin tool https://app.debot.ai
4️⃣ Morelogin multi-account fingerprint browser www.morelogin.com
Everyone is searching for#
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