Recently, the popularity of Dogecoin is evident. Looking back over the past year, its increase is astonishing—up to 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 amazing return rate quickly topped the Weibo hot search list, attracting the attention and discussion of many investors. Today, we will provide a detailed introduction to the purchasing process of Dogecoin.
But before we start, let’s briefly understand what Dogecoin is. Dogecoin is a digital currency with the code DOGE, similar to Bitcoin. It was originally created inspired by internet memes but has formed a unique ecosystem in community culture, social dissemination, and application scenarios in recent years. Next, we will take the OKX exchange as an example to provide a detailed tutorial on purchasing and trading DOGE to help you 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 such as OKX, Binance, Huobi, and Gate.io. Below is the complete process for purchasing DOGE using the OKX exchange. To buy DOGE, you first need to have USDT—
Visit the official OKX website, as OKX is one of the top three exchanges globally, and registering can reduce trading fees by 20%. New users can also receive a blind box for free, containing random tokens worth $2 to $8.
Click here–> Go to the official website to register for an OKX account or alternative link, some regions may require a VPN
- First, access the OKX official website through the link above. Then, enter your registration email:
- Next, set your phone number. Fill in according to your actual situation, choose the one starting with 86, and enter the 6-digit SMS verification code to complete the verification:
- After completing the SMS verification, proceed to the next step to verify your country or region. Select China and click next, and confirm 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 agreement and proceed to the next step. Set a login password, and after creation, you will be automatically logged into the backend:
The account registration is complete, but identity verification has not been completed. OKX requires real-name authentication before you can purchase or recharge digital currencies. Completing the verification can randomly get you a blind box, with a maximum reward of 50 USDT.
After registering on OKX, you can easily create an account and log in, then buy and sell USDT on the trading platform.
Click the [Register] button, select China as your residence, and fill in your email. Once the information is completed, click [Register] to finish creating your account.
After waiting for the OKX account to be set up, download and install the app. If you encounter security risk prompts during the installation process, you can ignore them, as virtual currencies are often falsely reported; this is the official download from the website.
Apple users need to use an overseas Apple ID to log in to the app store to download the app. The application method can refer to tutorials on Zhihu. Patience is required to install the OKX App, and follow the steps below to purchase USDT:
After completing this step, you have exchanged RMB for USDT. USDT is pegged to the US dollar at a 1:1 ratio, and this exchange process is crucial.
After completing the purchase, click on [Asset Management] and then [My Assets] to check your USDT balance. If you need to exchange USDT for other currencies, transfer it from your funding account to your trading account, and you can exchange it on the trading platform after the transfer. Enter the trading interface, select [Spot Trading], choose the currency, enter the purchase amount, and complete the transaction.
Buying and selling USDT#
Once you have an OKX exchange account, you can purchase USDT through C2C trading or quick trading. You can buy USDT with RMB or convert USDT back to RMB. Here are the specific operation steps—
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- Enter the OKX platform, click on [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 payment method: Alipay, WeChat, or bank card. Transfer to the merchant assigned by the system 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, the USDT will be credited to your account.
After completing this step, you have exchanged RMB for USDT. USDT is pegged to the US dollar at a 1:1 ratio, and this exchange process is crucial.
- 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, the USDT will be credited to your account.
After completing the purchase, click on [Asset Management] and then [My Assets] to check your USDT balance. If you need to exchange USDT for other currencies, transfer it from your funding account to your trading account, and you can exchange it on the trading platform after the transfer. Enter the trading interface, select [Spot Trading], choose the currency, enter the purchase amount, and complete the transaction.
Purchasing DOGE with USDT#
If you need to convert USDT to 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 desired amount of DOGE to buy in the trading area, and click "Buy DOGE" to complete the purchase. When selling DOGE, enter the selling amount and click "Sell DOGE."
You can use limit orders or market orders to buy Bitcoin.
- Limit order— set a target price, and the transaction will be executed automatically when the market price reaches it.
- Market order— trade at the current market price, suitable for users eager to complete the transaction.
After completing the purchase, check your DOGE balance in [Asset Management].
If you need to sell DOGE to convert it to USDT, also choose a market order. After entering the selling amount, the system will quickly execute the transaction at the current market price. After selling, transfer the USDT from the trading account to the funding account, and then sell it for RMB through [C2C trading].
2. Is it still worth investing in Dogecoin now?#
Compared to traditional Bitcoin, Dogecoin takes a more relaxed and community-oriented approach. Initially used for online tipping and "tip payments," it resonated with the American "tipping culture" and quickly became popular on social platforms. With its low entry barrier and "cute" attributes, Dogecoin became the second most popular electronic tipping currency in the U.S. just a week after 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 has remained active during the downturn in the crypto market and is regarded as one of the few network projects that can withstand cycles.
According to Canadian crypto researcher Kevin Rooke, Dogecoin's activity surpasses many mainstream currencies. He pointed out that in December 2018, the average daily active addresses of DOGE exceeded the levels of December 2017, ranking third among all cryptocurrencies, only behind Bitcoin and Ethereum. Data from the Messari platform shows that on a certain day, DOGE had 72,955 active addresses, second only to Bitcoin's 536,738 and Ethereum's 235,004, far exceeding Tron (21,255).
In addition, in terms of 24-hour trading volume, Dogecoin performed impressively— with nearly 30,000 transactions in a single day, totaling $264 million, indicating a highly active network and sustained vitality.
Kevin Rooke also noted 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 a crypto network that cannot be ignored.
3. Advice for newcomers to the crypto world#
Overall, Dogecoin possesses a unique "character" that is rare among other digital currencies— absurd, free-spirited, humorous, and rich in community sentiment. This trait resonates 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, it further amplifies the market attention on DOGE.
In terms of price and market value, Dogecoin has a low entry barrier, making it easy for ordinary investors to enter, with greater potential for price increases. Compared to high market cap mainstream currencies, DOGE has low operational costs and low pressure for price manipulation, making it a favorite among retail investors.
Of course, some veteran players in the crypto world hold a reserved attitude towards DOGE, believing it lacks practical application scenarios, primarily used for online tipping in the past, with limited promotion, and has not shown advantages in the DeFi wave, tending to be marginalized overall.
However, it cannot be denied that DOGE has evolved from a joke to an undeniable force in the investment world. New investors understanding its operational mechanism and purchasing methods is the first step into the crypto world.
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