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 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, attracting the attention and discussion of many investors. Today, we will provide a detailed introduction to the process of purchasing 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 like 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 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 verification:
- After completing the SMS verification, proceed to the next step to verify 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 in truthfully. After selecting the region, check the service terms/privacy policy agreement and proceed to the next step. Set your login password, and once created, you will be automatically logged into the backend:
The account registration is complete, but identity verification is not yet finished. OKX requires real-name authentication before you can purchase or recharge digital currency. Completing the verification allows you to randomly receive 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 your OKX account to be set up, download and install the APP. If you encounter security risk prompts during installation, 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 into the App Store to download the APP. You can refer to tutorials on Zhihu for application methods. Be patient while installing the OKX App, and follow these steps 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, and enter the purchase amount to 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 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]. Once the seller verifies the payment, 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]. Once the seller verifies the payment, 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, and enter the purchase amount to complete the transaction.
Purchasing DOGE with USDT#
If you need to convert USDT to Dogecoin (DOGE), click on the "Trade" at the bottom of the APP— select "Spot"— choose 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 purchase 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 who want to complete the transaction quickly.
After the purchase is completed, check your DOGE balance in [Asset Management].
If you need to sell DOGE to convert it to USDT for cashing out, 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 USDT from the trading account to the funding account, and then sell it for RMB through [C2C Trading].
2. Is Dogecoin still worth investing in now?#
Compared to traditional Bitcoin, Dogecoin takes a more relaxed and community-oriented approach. Initially used for online tipping and "tip payments," it aligns 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 currency for tips 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 downturns in the crypto market and is considered 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 for DOGE exceeded the levels of December 2017, ranking third among all cryptocurrencies, behind only 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).
Additionally, 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 pointed out that DOGE's network processing capacity and transaction throughput outperform older 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 possesses a unique "character" that is rare among other digital currencies— absurdity, nonconformity, humor, and strong 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 value mainstream currencies, DOGE has lower operational costs and less 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 mechanisms and purchasing methods is the first step into the crypto world.
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