How to Buy Dogecoin in the UAE 2023

It’s never been simpler to invest in cryptocurrency. In this guide, we divulge the finer details of how to buy Dogecoin in the UAE.

We leave no stone unturned as we offer a step-by-step guide on how to create a crypto exchange account and place an order to buy DOGE tokens with low fees.

Cryptoassets are a highly volatile unregulated investment product. 

At eToro, you can buy crypto in fractional quantities, so if you add more expensive tokens later you don’t need to risk large amounts.

You will find a more detailed explanation of how to buy Dogecoin in the UAE later on. First, let’s take a look at which Dogecoin exchange platforms can fulfill your orders in a timely and professional manner at a low cost.

Where to Buy Dogecoin in the UAE 2023

Whether you are deciding where to buy Dogecoin in Dubai, or anywhere else in the UAE, it doesn’t get better than the platforms we’ve reviewed below.

Each platform differs but they all offer Dogecoin with low commissions in a user-friendly space.

1. eToro – Overall Best Platform to Buy Dogecoin in the UAE 2023

eToro is the overall best platform from which to buy DOGE in the UAE. In addition to Dogecoin, you can also buy and sell more than 60 other crypto assets. This includes everything from Bitcoin, Litecoin, and Ethereum, to Shiba Inu, ApeCoin, and Compound, alongside other tokens with varying market caps and uses.

UAE residents can also trade a range of commodities, such as oil, sugar, and gold, as well as stocks and ETFs. This platform is regulated and therefore very transparent with fees. The commission for cryptocurrency transactions is just 1%.

Furthermore, you can buy large-cap tokens in small fractions if you want to diversify your portfolio later. The minimum stake is just $10 at eToro. This means you can easily add more pricey tokens like Bitcoin and Ethereum without risking thousands of dollars. The local regulators ADGM and DFSA do not monitor eToro because it does not have a local office in the UAE.

However, eToro is governed by top-tier international financial regulators including the FCA, the SEC, ASIC, and CySEC. As such, it is regarded as being very safe for residents of the UAE. You can buy Dogecoin in the UAE with ease by creating an eToro account, completing the KYC process, and making a deposit.

Funding methods include credit and debit cards, wire transfers, and e-wallets such as PayPal. The minimum funding amount is just $50, unless you select a wire transfer. In this case, you need to deposit $500. When funding your account, you will be charged a conversion fee of 0.5% to swap your AED to USD – as this is the currency the eToro platform uses.

When you place an order to buy Dogecoin, the tokens will be stored in your eToro portfolio. As such, there is no need to take on the responsibility of choosing and securing a crypto wallet from a third-party provider.

This crypto platform also offers some passive trading features. This includes copy trading. All you have to do is allocate $200 or more to a seasoned investor. After allocating some funds to the individual, every time they buy or sell a crypto token you will see the same in your own portfolio.

If you like the idea of growing your crypto assets with little effort, you should also take a look at the smart portfolios offered by eToro. Smart portfolios are a collection of cryptocurrencies. In this case, you can take your pick from the many ready-made crypto-focussed portfolios and add one to your account by investing $500 or more.

There is a free mobile app offered by eToro too. It allows you to purchase, sell, and store dozens of different cryptocurrencies. Moreover, eToro provides Islamic accounts, which are of course compliant with Sharia law. eToro’s Islamic offering is a swap-free account and is therefore suitable for people of the Muslim faith. The fee is set and there is no interest.

What we like

Cryptoassets are a highly volatile unregulated investment product. 

2. Evest – Multi-Asset Platform that Offers Crypto CFDs

Evest is a popular platform that lets investors buy cryptocurrency CFDs without paying any commissions on their trades. Moreover, this platform lets investors trade over 525 financial instruments, including global stocks, indices, and forex pairs. 

A CFD (Contract for Differences) is a method of trading or speculating on a financial instrument without holding the underlying asset. Leveraging or shorting a cryptocurrency are types of CFDs which can be used on Evest. CFD Trading may be a preferable tool for advanced traders due to the added amount of risk involved. 

For beginner investors, Evest offers tools such as paper trading accounts to practice traders. The paper trading account comes with $25,000 of pre-loaded virtual funds. One can practice cryptocurrency CFD trading on this platform without risking any of their assets. 

Beginners can also gain more information about cryptocurrencies or the financial markets by accessing Evest’s Trading Academy. This tool has multiple informative courses and lessons on the basics of trading. 

While Evest does not charge additional deposit fees, it charges $5 per withdrawal. However, one can access Evest’s Diamond account to avoid paying any fees on withdrawals. Along with the Diamond account, investors can begin trading crypto CFDs and other assets on three account types – Silver, Gold, and Platinum. 

Beginner traders can benefit from the low minimum deposit of the Silver account, which is set at $250. However, forex traders can access the Platinum and Diamond accounts to trade FX pairs with less spreads. 

Evest uses SSL technology to secure all client’s deposits as a safe trading platform. The Vanuatu Financial Services Commission also regulates this popular trading platform. Evest can be accessed through a desktop and has also integrated MetaTrader 5, the popular web-based trading platform. 

Click on the link below and begin trading cryptocurrency CFDs with Evest now. 

What we like

3. Crypto.com – User-Friendly Platform to Buy Dogecoin and Earn Interest

Crypto.com is one of the best crypto exchanges in the UAE. As you likely know, the UAE is shaping up to be the global hub for all things crypto. In early 2022, Crypto.com was approved to offer its digital currency trading services in the UAE.

As a result, Crypto.com is establishing a regional office in the country. There are more than 250 cryptocurrencies available at Crypto.com so diversification is made easy. Moreover, have you thought about buying crypto in the UAE and earning a passive income?

If so, the Crypto.com platform allows you to earn an APY of up to 14.5% annually. This is very similar to a traditional fiat savings account. The Crypto.com interest tool supports around 40 different digital tokens which now includes Dogecoin.

If you buy Dogecoin in the UAE and store your tokens in a Crypto.com savings account, you will be given up to 5% per annum depending on the plan you choose. On the other hand, if you buy Bitcoin in the UAE, you could earn up to 6% per annum. You can pick your own terms which include a flexible, 1-month, or 3-month lock-up period.

Crypto.com also offers a Visa card which offers cashback of up to 8% on eligible purchases. Although this doesn’t seem to be available to order from the UAE at the time of writing, given the recent updates we talked about earlier, it’s likely only a matter of time – so keep an eye out for that.

You can fund your Crypto.com account to buy Dogecoin via a debit card or wire transfer. Note that the fee charged on debit card transactions is 2.99%. Furthermore, when you invest in Dogecoin in the UAE at Crypto.com, you will be charged up to 0.4% commission. Crypto.com also serves as an NFT marketplace and offers two storage options to traders.

If you would rather take a hands-on approach by storing your own investments and private keys – opt for the DeFi wallet. If, on the other hand, you would rather not take on that burden, you can store your tokens on the Crypto.com exchange. This platform has loyalty programs and you can stake CRO, Crypto.com’s native token, to earn rewards.

Check what offers are available when deciding where to buy Dogecoin in the UAE. Platforms like Crypto.com often offer free digital tokens for referrals and new sign up’s. For instance, in one offer, a referral sign-up bonus of CRO worth up to $50 can be claimed by qualifying traders.

What we like

Cryptoassets are a highly volatile unregulated investment product. 

4. Binance – Low-Fee Cryptocurrency Exchange to Trade Dogecoin in the UAE   

If you’re researching how to buy Dogecoin in Dubai, you will likely have come across Binance. Aside from the aforementioned eToro and Crypto.com platforms, Binance is one of the most popular places to trade digital currencies in the UAE.

At the time of writing, Binance is considered to be much safer than it used to be in terms of regulation. The platform has gained the provisional regulatory approval needed to operate as a broker-dealer of digital assets in the UAE. In fact, Binance has been granted operating licenses in multiple UAE locations.

You will find over 600 crypto assets to trade and the platform is easy enough to get around for newbie and intermediate traders. Not only that, but the commission is competitive, at 0.10% per slide and you can start trading digital assets from just 1 AED. The more you trade, the lower the commission fee becomes, depending on your VIP level and other variables.

If you elect to buy DOGE tokens as well as BNB, you can use the latter to pay fees and earn a discount of 25%. To get started you can sign up and fund your trading account using your preferred credit or debit card. You will need to check with the provider in question about what fees you might need to pay as it depends on the processor.

You can also finance your investments with a third-party Simplex payment, or via the P2P exchange. Either way, you’ll find everything from educational guides and learn and earn programs on Binance, to charts and technical indicators. Binance also offers institutional-grade reports and professional market insights.

Binance also happens to be one of the biggest NFT marketplaces. This means you can buy and sell unique digital art pieces, in-game products, virtual land, and other assets for a trading fee of just 1%. You can filter the results by sale type, collections, categories, and more. NFTs can be stored in your Binance wallet and to buy them you will need some BUSD, BNB, or ETH tokens.

What we like

Cryptoassets are a highly volatile unregulated investment product.

Should I Buy Dogecoin?

Dogecoin is a highly volatile asset, and Dubai cryptocurrencies in general don’t come without risk.

As such, whether or not you decide to buy DOGE in the UAE should be based on your own research and facts rather than subjective viewpoints.

That said, here’s some basic information about Dogecoin:

• While Dogecoin was infamously founded as a joke, investors now take it very seriously
• Everyone from Snoop Dogg to Mark Cuban and Elon Musk has expressed interest in Dogecoin and its widely considered to be the original meme cryptocurrency
• This crypto asset soared more than 7,000% in the first half of 2021 following a rally by a large community of retail investors
• Dogecoin is still a popular crypto choice, despite its price being extremely erratic, with a significant dip from its all-time high in mid-2021
• DOGE tokens were trading at around $0.74 each during this high, and the digital currency has since fallen by around 87%
• This could represent an opportunity to buy the dip, nevertheless, it is still a risky investment

Ultimately, your risk tolerance and level of experience should dictate whether you buy Dogecoin and also how much you are willing to invest.

It might, therefore, be wise to stake small amounts in the crypto asset. For instance, at eToro, you can allocate just $10 per trade. Crypto.com is another great option because the minimum trade is as little as $1.

Cryptoassets are a highly volatile unregulated investment product. 

Benefits of Buying Dogecoin

When you’re researching how to buy Dogecoin in the UAE, make sure you consider the benefits and drawbacks of investing in this digital asset.

We’ve listed some key advantages of electing to buy DOGE in the UAE below to help clear the mist.

Short-Term Gain Potential From Volatility

The fact that the price of Dogecoin fluctuates so much makes it a great option for short-term traders.

• This is because volatility ensures that there are always trading opportunities to take advantage of
• This is provided you buy DOGE and cash out at the right time for maximum gains
• For example, had you purchased Dogecoin at the start of 2021 and cashed out your investment in May of the same year, you would have made a profit of almost 7,000%
• Put another way, let’s say you had chosen to buy Dogecoin in the UAE with 4,000 AED
• Upon selling your tokens five months later, this would have translated to gains of 280,000 AED on top of your initial investment

In the last five years, DOGE tokens have increased by over 430%. Short-term traders have had multiple opportunities to benefit from the volatility of this cryptocurrency.

Strong Community

Part of the reason people research how to buy Dogecoin in the UAE is down to the awareness raised by various online communities.

This so-called meme token has a strong online community behind it and also has a string of high-profile supporters endorsing it.

• This increases interest in the crypto project, as celebrities and entrepreneurs openly support Dogecoin on social media platforms.
• For instance, every time Elon Musk tweeted about Dogecoin in 2021, the price of the token soared.
• On one occasion, the charismatic Tesla CEO took to Twitter to call Dogecoin his favorite token.
• He also referred to it as “the people’s cryptocurrency” and posted many memes about the token.

In 2021, SpaceX openly stated that they would send Dogecoin to the moon by accepting it as payment by early 2022.

None of this attention has hurt the popularity of Dogecoin. Elon Musk has more than 91 million followers on Twitter alone, so his opinions are far-reaching.

On one occasion online support from celebrities caused DOGE to rise by 60% in just 24 hours, and trading volume increased by over 1,400%. We also touched on Dogecoin’s community, which are groups such as WallStreetBets on Reddit that get together to drive a run on certain crypto assets and stocks.

A prime example of the power of these communities is Gamestop. The Reddit group famously forced the stock’s price up by encouraging large groups of independent investors to buy in their droves. The same happened with Dogecoin on more than one occasion and could happen again.

For instance, in the Dogecoin community on Reddit, there are 2.3 million ‘Subshibers’. That’s a huge online following and the power these communities can have on cryptocurrencies and stocks has been proven over the last two years.

Dogecoin Can be Used as a Payment Method

An increasing amount of businesses are accepting Dogecoin as a form of payment, thus increasing its usability and popularity.

• Some of the big names accepting Dogecoin in 2022 are Gucci, GameStop, Tesla, AMC theatres, and the online streaming service, Twitch
• Dogecoin was accepted by developers as a form of payment on the Samana Waves project – a residential building in Jumeirah Village, Dubai
• Samana developers also offered a 5% discount to those choosing Dogecoin as a payment method for the project
• Multiple real estate consulting and development companies now accept Dogecoin for various purchases
• Dubai license bureau Kiklabb, which is government-owned, allows UAE residents to pay trade license and Visa fees using DOGE tokens

The list of merchants that accept Dogecoin as a method of payment also includes airlines such as AirBaltic and even luxury hotel chain The Kesler Collection.

The more merchants that accept Dogecoin to pay for goods, the higher the demand for it is likely to be which could drive its price up. As such, this is something to be aware of when you buy Dogecoin in the UAE.

Dogecoin is more Efficient than Bitcoin

Miners can perform the mathematical calculations needed to complete and record transactions faster and more easily than Bitcoin by opting to use Dogecoin. This makes it slightly more efficient for processing payments.

On the Bitcoin blockchain, ratifying new blocks takes 10 minutes. In contrast, on the Dogecoin blockchain, it just takes one minute.

Not only is it faster, but when you buy Dogecoin, you are purchasing a digital asset that is much kinder to the environment. That is to say, mining Dogecoin uses significantly less energy than its Bitcoin counterpart.

The latter is well known for having a large carbon footprint during the mining process – which is why Tesla has temporarily halted accepting payments in BTC.

Dogecoin is Trading at a Low Price

As we touched on, if you buy Dogecoin today, you will pay around 87% less than you would have done in May 2021.

You could take advantage of this by choosing to buy Dogecoin in the UAE now, and cash out if or when the market rebounds at a later date.

Dogecoin is Working on Offline Functionality

Thanks to an emerging initiative called RadioDoge, Dogecoin may soon allow transactions even without internet access.

• Developers from the Dogecoin Foundation stated that RadioDoge could allow offline DOGE transactions via SpaceX’s Starlink satellite network
• A RadioDoge Regional Hub has already been established and this will be used as a testbed for next-generation technology
• RadioDoge focuses on combining low-cost and dependable radio technology (HF/LoRaWAN) with the worldwide Starlink satellite network
• The goal is to provide low-cost, wide-scale access to Dogecoin for individuals who live outside of the reach of standard internet infrastructure
• The first transactions on Libdogecoin, a decentralized financial payment network, are expected to be sent more than 150 miles from the HF Radio in Colorado to the Regional Hub
• The Starlink satellite will subsequently send transactions from the Regional Hub to the Dogecoin testnet

Despite their enthusiasm for this new development, the Dogecoin team acknowledges that they have a long way to go.

That said, this is exciting news for anyone looking to buy Dogecoin in the UAE with a long-term objective.

Ways of Buying Dogecoin?

There are multiple ways in which you can buy Dogecoin in the UAE.

We’ve listed the best options below.

Buy Dogecoin With PayPal

One of the fastest and most convenient ways to buy Dogecoin in the UAE is via PayPal.

Not all crypto trading platforms accept this payment type. As such, if you wish to finance your investments this way it’s best to check if it’s possible at your chosen exchange prior to creating an account.

You can buy Dogecoin with PayPal at eToro with only a small conversion fee of 0.5% payable on each transaction. The minimum PayPal deposit is just $50 for residents of the UAE.

Cryptoassets are a highly volatile unregulated investment product. 

Buy Dogecoin With Credit Card or Debit Card

You could also buy Dogecoin in the UAE with your preferred credit or debit card. Importantly, you must check fees before you elect to buy cryptocurrencies with this payment method in the UAE.

This is because, if you buy Dogecoin in the UAE with a debit card at Coinbase, you will be liable to pay a 3.99% fee on every transaction.

In contrast, at eToro, you will only ever be charged a simple conversion fee of 0.5% to swap AED for USD when making a deposit in your local currency.

Dogecoin Price

When you are informing yourself on how to buy Dogecoin in the UAE, you will notice that this digital asset is quoted in USD. As such, when talking about its price, US dollars is preferred by most analysts – including us.

Nonetheless, Dogecoin was created in 2013 when it was forked from Litecoin. For over seven years DOGE tokens were priced at below $0.01. In 2021, Dogecoin caught the attention of not only celebrities but also online communities such as those on Reddit.

At this point, Dogecoin experienced growth rates that far exceeded Bitcoin. In 2021, tokens reached an all-time high of around $0.74.

Another rally happened in July/August when DOGE tokens went from $0.19 to $0.32 in less than a month. Dogecoin entered 2022 at $0.17 and after another rally experienced a sharp increase of around 57% within 24 hours in January.

There has since been a market correction in the cryptocurrency market and Dogecoin is trading at its lowest value since April 2021. Once again, this allows you to buy Dogecoin in the UAE at a discounted entry price.

Dogecoin Price Prediction 

When carrying out research on whether to buy Dogecoin in the UAE, you will have no doubt seen plenty of price predictions.

It’s important to remember that Dogecoin price predictions are often unreliable. Moreover, some sources have an interest in swaying investors either way as well so bear that in mind.

And therefore, price predictions should be taken for what they are – speculative estimates. There will be a wide differentiation between the Dogecoin price predictions offered by crypto analysts.

As such, prior to placing an order to buy Dogecoin in the UAE – research the digital asset yourself. It’s better to start off buying speculative assets like this in small increments. This is made easy at eToro and Crypto.com.

How to Buy Dogecoin in the UAE – Tutorial

By now you should be familiar enough with how to buy Dogecoin in the UAE – so you can proceed to place an order at an online exchange.

To get the ball rolling, you’ll first need to create an account with your chosen provider. We like eToro because it’s heavily regulated and offers fee transparency.

As well as Dogecoin and more than 60 other cryptocurrencies, you’ll find lots of other assets, such as commodities, stocks, and ETFs.

As such, diversifying in the UAE is made easy at this trading platform.

Step 1: Open an Account

To open an account with eToro, you just need to click the button that is marked ‘Join Now’.

Upon clicking this you will see a registration form. Start by entering your chosen username and password, which will allow you to access to your investments at any time.

Next, add your first and last name, mobile number, residential address, and date of birth to continue. The platform will also ask you to complete a quick questionnaire surrounding your trading history to offer you the best possible experience.

Step 2: Upload ID

eToro operates within the guidelines of multiple global regulators so after submitting your information, you must also complete a KYC process. This is stress-free and fast as eToro uses automated technology to process new sign-ups.

All you need to do is attach a clear copy of a valid photo ID. This can be your passport, Emirates ID, or driver’s license.

You can also prove your residency by uploading a recent bill or letter. This must be on headed paper and can be a statement from your bank, a utility bill, individual tax residential certification, or any other supporting document.

Check eToro for more information as various forms of ID are accepted.

Step 3: Deposit Money

To fund your new account, click ‘Deposit’ and choose a payment method from what’s available. You can buy Dogecoin in the UAE using multiple payment types at eToro and will only need to pay a small deposit fee of 0.5%.

Deposit methods include e-wallets such as PayPal, credit and debit cards, and also wire transfers. The minimum deposit is just $50. However, if you elect to buy Dogecoin with a wire transfer you will need to deposit a minimum of $500.

Step 4: Search for Dogecoin 

To buy Dogecoin in the UAE, type the digital currency into the search box on the eToro platform as seen below.

When you see the correct market, confirm by clicking the button marked ‘Trade’ to create a buy order.

Step 5: Buy Dogecoin 

You can buy Dogecoin at eToro with a stake as low as $10. Here we are looking to purchase $10 worth of DOGE.

Enter a figure in the ‘Amount’ field and eToro will add the tokens to your portfolio after you click on ‘Open Trade’.

One of the advantages of opting for eToro when deciding where to buy Dogecoin in the UAE is that you will not need to concern yourself with choosing a wallet.

This is because the platform will add the tokens to your personal portfolio for you to access at any time.

How to Sell Dogecoin

As you can tell from our above step-by-step guide, you can buy Dogecoin in the UAE at eToro with very little effort.

Cryptocurrencies are volatile assets that are usually traded on a short-term basis, although this isn’t always the case. As such, there will probably come a time when you wish to cash out your investment for a profit.

See below a quick guide on how to sell Dogecoin at eToro:

• Sign in to your eToro account by entering your username and password
• Next, click ‘Portfolio’ to see your investments
• Look for Dogecoin
• Click the button marked with a cogwheel symbol followed by ‘Close’
• Note, if you have placed multiple orders to buy Dogecoin, you will be presented with a list of the different transactions
• In this case, you can go through the list and close each one if you like

If you only want to cash out some of your investment, you can click the box that says ‘Close Only Part of the Trade’ and enter the number of units you wish to sell. eToro will add the proceeds from the sale of your DOGE tokens to your available equity.

eToro will execute your order straight away and you can arrange a withdrawal to the deposit method you used to fund your account. Alternatively, you can reinvest the funds, or leave the proceeds in your eToro account to use at a later date.

Conclusion

Today we have explained the nuts and bolts of how to buy Dogecoin in the UAE. The key is to select a reputable and professional crypto trading platform for this purpose.

We reviewed the best places to buy DOGE tokens and concluded that eToro was the top option for traders in the UAE. Multiple regulators have approved the platform to offer cryptocurrencies, stocks, and more.

Fees are low and transparent and there are a number of different deposit methods to choose from.

Whether or not Dogecoin will offer the kind of returns seen by traders in 2021 remains to be seen. However, you can start trading at eToro by risking as little as $10.

Cryptoassets are a highly volatile unregulated investment product. 

FAQs