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The best dogecoin crypto apps of May 2022
Heard of dogecoin but not sure where to buy it?
Cryptocurrency exchanges are just one of the many outlets availble. You can also purchase dogecoin through mobile-only crypto brokers, online brokerages, and other finance apps.
Following price surges earlier in 2021, the cryptocurrency dogecoin captured the attention of traders around the world. In fact, through regular tweets and public displays of support, Tesla CEO Elon Musk has been among the driving factors of its momentum—the coin shot up 10% on April 4, 2022, after Musk’s holdings in Twitter were revealed.
Created in 2013 by Billy Markus and Jackson Palmer, the coin’s mascot (known as “Doge”) comes from the Shiba Inu Japanese dog breed that was popularized in a series of online memes.
If you’re wondering where to buy dogecoin, keep reading to find the best option for you.
Best for futures and margin traders: Kraken
Why it stands out: Kraken offers exceptionally low trading fees with more than 90 cryptocurrencies for traders in the US and across the globe. Besides dogecoin access, its account perks feature futures trading (futures are contracts that give you the right to buy or sell an asset at a certain price on an upcoming date), margin trading, staking rewards (staking gives you interest rewards for holding crypto assets for a set period of time), over-the-counter (OTC) trading, and crypto services for institutional clients.
If you’re new to the crypto game, don’t worry. Kraken offers several educational resources for those looking to expand their investing knowledge. These include How to Buy Dogecoin, How to Buy Bitcoin, How to Buy Ethereum, and How to Buy Litecoin.
Kraken also offers multiple mobile apps for iOS and Android users. These include Kraken, Kraken Pro, and Kraken Futures. US traders should note, however, that the futures platform isn’t currently available in the US.
What to look out for: Kraken doesn’t currently serve traders in New York or Washington State (see a complete list of its geographic restrictions here). If you live in either of those areas, you’ll need to consider other exchanges.
Also, as mentioned above, Kraken Futures is not available in the US.
Best for traders of all experience levels: Coinbase
Why it stands out: Coinbase offers well over 100 cryptocurrencies, including bitcoin, ethereum, and others. The exchange added dogecoin to its platform in June 2021, allowing both Coinbase Pro and regular account holders to access it through its web platform and iOS and Android mobile apps.
Coinbase also offers staking rewards, Coinbase Prime for institutional traders and high-net-worth individuals (people with at least $1 million), wallet storage, and a Coinbase Earn feature that gives you monetary rewards for watching educational videos about different assets.
In addition, Coinbase has also launching a transaction fee-free beta version of its NFT platform. This means that creators and collectors can exchange tokens without worrying about extra costs. However, this only available for a limited time
What to look out for: Coinbase doesn’t offer margin accounts for traders who need to take on additional buying power to purchase crypto assets.
Best for peer-to-peer trading: Binance
Why it stands out: Formed as a US extension of Binance in 2019, Binance.US offers dogecoin, bitcoin, and more than 50 other cryptocurrencies. Unlike Kraken, it doesn’t provide margin and futures accounts. But like Kraken, Binance.US offers staking rewards, OTC trading, and trading options for institutional clients.
In addition, if you’re big on crypto-to-crypto exchanges, there’s no shortage of crypto trading pairs at Binance.US (trading pairs consist of two assets that can be exchanged for one another). For instance, the exchange’s two Dogecoin trading pairs are DOGE/USD and DOGE/USDT.
And Binance.US has low fees compared to other exchanges. You’ll only need $10 to get started, and you’ll either pay 0.1% or 0.5%, depending on how fast you want your trades executed.
What to look out for: Binance.US has several geographic restrictions. You won’t be able to use the app if you’re a resident of Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont.
Best for beginners: eToro
Disclaimer: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
Why it stands out: Though eToro USA has a more limited selection of investments — it currently offers dogecoin and more than 25 other cryptocurrencies — the exchange makes up for it with its easy-to-use interface, community-like crypto features, and educational resources.
One of eToro USA’s most popular features is its CopyTrader system. This feature is best for beginner traders, as it allows you to tie your portfolio strategies to that of more advanced crypto traders. In other words, you can use the feature to have your portfolio mimic the portfolios of top-performing traders. See more here.
But eToro USA makes up for its more limited crypto selection by additionally offering stock and ETF trading. Plus, the platform charges $0 commissions for trading, and you can purchase fractional shares (get started here).
When it comes to educational offerings, eToro provides both written investing guides and an eToro Trading Academy that includes video tutorials on crypto trading.
What to look out for: eToro USA doesn’t offer margin accounts, so it isn’t the best option for traders who seek additional buying power. In addition, you won’t be able to use the exchange if you live in New York, Minnesota, Nevada, Northern Marianas, Puerto Rico, Tennessee, Hawaii, Guam, American Samoa, US Armed Forces (Americas), and US Armed Forces (Europe and US Virgin Islands).
Best for low fees: Voyager
Why it stands out: Voyager isn’t an exchange; it’s a mobile cryptocurrency broker that connects you to crypto trading opportunities through its proprietary routing technology. Nonetheless, the investment app offers commission-free trading on more than 100 cryptocurrencies, including dogecoin.
You’ll need at least $10 to trade, but Voyager offers several other perks, including interest on your crypto (up to 10%), a new USD coin-backed Voyager Debit Mastercard, FDIC insurance on USD holdings, fraud protection, and easy mobile access for iOS and Android users.
What to look out for: Voyager doesn’t currently allow coin-to-coin exchanges, nor does it let you decide where your trades are executed. In addition, the crypto app is available to all US states, except for New York. You’ll need consider other cryptocurrency exchanges if you’re a New York resident.
Best for bitcoin, ethereum, and dogecoin traders: Gemini
Why it stands out: Gemini offers more than 75 crypto assets, including dogecoin. You won’t need a minimum amount to get started, but you’ll run into different fees for web transactions and mobile transactions. And you’ll also incur a 0.50% convenience fee for each transaction.
But besides its fee schedule, Gemini offers an array of other features that beginner or experienced crypto traders might enjoy. These include its crypto rewards program (this allows you to earn up to 8.05% on certain assets), its Active Trader platform for advanced traders, its wallet storage options, and its educational webinars. See our full review of Gemini here.
Plus, on the spending and payments end, US customers can get up to 3% in crypto rewards for every purchase they make with the Gemini Credit Card. And Gemini Pay allows you to spend your crypto balances at more than 30,000 retail stores in the US.
What to look out for: This exchange only offers nine cryptocurrencies: Bitcoin, ethereum, litecoin, bitcoin cash, zcash, filecoin, tezos, solana, and dogecoin. The remainder of its investment collection is made up of ERC-20 tokens, stablecoins, and SPL tokens.
Other apps we considered
Abra: Abra is a global crypto exchange offering 100+ cryptocurrencies, wallet services, staking (with interest rewards up to 13.5%) crypto-backed loans, and much more. The company also serves investors in more than 150 countries, and it has an expansive suite of institutional services. It doesn’t charge investors fees for currency exchanges (although it earns income from the spread between different assets), but has high fees for Visa and Mastercard transactions. Bittrex: Bittrex excels when it comes to ease of use and account security. Its Instant Buy and Sell feature gives you the option to quickly trade dogecoin and other popular assets with the click of a button. In addition, Bittrex uses two-factor authentication, plus a multi-stage wallet strategy that ensures your crypto assets are securely stored through offline hardware. One downside is that it has limited customer support and educational resources. Webull: Webull is an online brokerage offering cryptocurrencies, stocks, ETFs, options, and more. You’ll only need a minimum of $1 to start trading, and the brokerage offers the following crypto assets: Bitcoin, dogecoin, bitcoin cash, ethereum, litecoin, ZEC, and XLM. It also offers 24/7 trading, but you won’t have as many crypto choices as other popular exchanges. Robinhood: Commonly known as a pioneer of commission-free trading, Robinhood offers stocks, ETFs, options, American depositary receipts (ADRs), and cryptocurrencies. But like Webull, the brokerage has a more limited offering of crypto assets. Its cryptocurrency list includes dogecoin, bitcoin, bitcoin cash, bitcoin sv, ethereum, ethereum classic, and more. Crypto.com: Crypto.com offers several impressive features, including more than 100 cryptocurrencies, crypto storage options, and interest rewards (you can currently get up to 14% on your crypto assets). But many of its coins aren’t available to US traders. Changelly: Founded in 2015, Changelly is a Malta-based cryptocurrency exchange offering more than 170 crypto assets. Though the platform’s trading algorithm integrates with crypto apps like Poloniex and Bittrex, it isn’t currently available to US customers.
How we determined the winners
We compared numerous crypto trading apps to find the best options for dogecoin access, user navigability, low fees, account custody, and mobile access.
We also researched whether the crypto exchanges offer features like staking or interest rewards, margin accounts, and educational resources.
Frequently asked questions
Why trust us?
At Personal Finance Insider, we strive to help smart people make the best decisions with their money. However, we know that the word best is usually subjective, so we highlight both the pros and cons of dogecoin crypto apps.
We spent hours comparing and contrasting the features and fine print of various dogecoin trading apps so you don’t have to.
What is dogecoin?
Dogecoin is an open source, peer-to-peer cryptocurrency (peer-to-peer cryptocurrencies are virtual assets that can be exchanged between different users without the help of a central financial institution). The asset — though originally used as a meme — was created in 2013 by software engineers Billy Markus and Jackson Palmer.
The cryptocurrency has a market cap of close to $20 billion.
What is a cryptocurrency exchange?
Cryptocurrency exchanges function as online marketplaces that allow you to buy, sell, and transfer a range of virtual assets like dogecoin, bitcoin, and others. Many exchanges (though not all) also provide wallet storage for your crypto assets. For instance, Coinbase offers its own online storage app for cryptocurrencies and non-fungible tokens (NFTs).
But since all crypto trading apps aren’t personal wallet services, you may need to consider other options for secure storage. Whether you’re trading bitcoin or dogecoin, most exchanges let you transfer assets between your exchange account and wallet whenever you need to.
Are cryptocurrency exchanges worth it?
Like most things in investing and personal finance, this depends largely on your preferences. You don’t necessarily have to use crypto exchanges to buy dogecoin or other popular virtual assets. As mentioned earlier, you can use online brokers like Voyager or platforms like Paypal or SoFi.
TradeStation, Robinhood, and Webull are also three online brokerages that offer fee-free crypto options, but there’s a catch. These investment apps give you greater access to different investment choices (eg. stocks, ETFs, and options), but they usually don’t offer as many crypto-specific features as other popular crypto exchanges.
If you’re struggling to make a decision, it’s best to choose the platform that offers the fees, features, and investment choices that align with your goals.
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