Recently, the popularity of Dogecoin has significantly increased. Looking back over the past year, its price has surged by 161 times, which is astonishing. For example, an investment of 10,000 RMB in Dogecoin a year ago is now worth 1.61 million RMB.
Such an incredible return rate quickly topped the Weibo hot search list, attracting attention and discussion from numerous investors. This article will detail the process of purchasing Dogecoin.
Before diving into the specifics, let's briefly understand the basic concept of Dogecoin: Dogecoin (code DOGE) is a digital currency similar to Bitcoin. It was originally created based on an internet meme but has developed a unique ecosystem in recent years through community culture, social dissemination, and application scenarios. Below, we will provide a detailed tutorial on buying and trading DOGE using Binance as an example.
1. How to buy Dogecoin? Detailed steps for buying DOGE#
Dogecoin is listed on over 120 mainstream exchanges worldwide, including OKX, Binance, Huobi, Gate.io, and others. Below is the complete process for purchasing DOGE through OKX. Before buying DOGE, you need to first acquire USDT—
Visit the official website of OKX (one of the top three exchanges globally), where registering can reduce trading fees by 20%, and new users can also receive a random blind box for free (worth $2 to $8).
Click here–> to register an OKX account or alternative link, some regions may require a VPN
- First, access the OKX official website through the link above and enter your registration email:
- Next, set your phone number (you can use a domestic number with the prefix 86) and enter the 6-digit SMS verification code to complete verification:
- After completing the SMS verification, select your country or region (it is recommended to fill in truthfully, such as China), click next, and confirm the prompt:
Note: The country or region information must match your identification documents. Check the service terms and privacy policy agreement, then proceed to set your login password. After creating the password, you will be automatically logged into the backend:
Account registration is complete, but you must complete identity verification (real-name authentication) to purchase or recharge digital currency. After verification, you can randomly receive a blind box reward (up to 50 USDT).
After registering with OKX, 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.
Download and install the OKX App (Apple users need an overseas Apple ID), ignoring system security risk prompts during installation. After successful installation, follow these steps to purchase USDT:
After exchanging RMB for USDT (USDT is pegged 1:1 to the US dollar), click [Asset Management] → [My Assets] to check your balance. If you need to exchange for other cryptocurrencies, transfer USDT from your funding account to your trading account, enter [Spot Trading], select the cryptocurrency, and enter the amount to complete the transaction.
Buying and selling USDT#
Once you have an OKX account, you can purchase USDT through C2C or quick trading. Here are the specific steps:
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- Enter the OKX platform, click [I want to buy coins] → [C2C buy coins].
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- On the app homepage, select [C2C buy coins] → [Quick trade] → choose USDT → enter the purchase amount → select Alipay, WeChat, or bank card payment → transfer to the merchant assigned by the system → click [I have paid] and wait for the seller to confirm.
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- Once the funds arrive, USDT will be deposited into your account.
After completing the RMB to USDT exchange, check your balance and transfer it to your trading account for exchange operations.
Purchasing DOGE with USDT#
Convert USDT to Dogecoin (DOGE): Click the "Trade" at the bottom of the app → select "Spot" → choose the [DOGE/USDT] trading pair. Enter the amount to buy and click "Buy DOGE," or enter the amount to sell and click "Sell DOGE."
You can use limit orders (set target price) or market orders (execute at current market price). After purchasing, check your DOGE balance in [Asset Management].
Sell DOGE to convert to USDT: Choose a market order and enter the amount for quick execution, and after completion, transfer USDT to your funding account to sell for RMB through [C2C trading].
2. Is it still worth investing in Dogecoin now?#
Compared to traditional Bitcoin, Dogecoin takes a more relaxed, community-oriented approach. Initially used for online tipping and small payments, it resonated with American culture and quickly gained popularity on social media platforms. With its low entry barriers and fun nature, it became the second most popular electronic currency for tipping in the U.S. within a week of its launch.
Despite originating from a joke project, Dogecoin has performed far beyond expectations. Created by Jackson Palmer and Billy Markus, it has remained active during downturns in the crypto market and is regarded as one of the few network projects that have survived through cycles.
Canadian researcher Kevin Rooke analyzed that DOGE's activity surpasses most mainstream coins: In December 2018, the daily active address count exceeded 2017 levels, second only to 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, DOGE had nearly 30,000 transactions, totaling $264 million, indicating a high level of network activity.
Kevin Rooke pointed out that DOGE's network processing capability and transaction throughput outperform established cryptocurrencies like Bitcoin Cash and Litecoin, making it an important crypto network from a technical perspective.
3. Advice for newcomers to the crypto space#
Dogecoin possesses a unique character—absurd, humorous, and rich in community sentiment, aligning with the current "American meme community" cultural backlash against traditional financial institutions. Coupled with Elon Musk's repeated support on social media, DOGE's visibility has significantly increased.
With a low price and market cap threshold, it is accessible for ordinary investors, offering substantial potential for price increases. Compared to high-market-cap mainstream coins, DOGE has low operational costs and minimal upward pressure, making it a favorite among retail investors.
Some seasoned investors remain cautious, believing that DOGE lacks practical application scenarios and is marginalized in the DeFi wave. However, it is undeniable that DOGE has evolved from a joke to an important force in the crypto market. Newcomers should prioritize understanding its mechanisms and purchasing methods.
🔥 Solutions for accessing OKX exchange in China#
The original domain names of exchanges are often restricted or experience access delays due to overseas servers, mostly due to network environment issues. OKX, Binance, and others regularly update 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 alternative domain Huobi/HTX
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- Gate alternative domain Gate.io
🔥 Further reading#
🔥 Practical tools for finding gold dogs#
1️⃣ Axiom Dog Tool https://axiom.trade
2️⃣ Gmgn Dog Tool https://gmgn.ai
3️⃣ dbot Dog Tool https://app.debot.ai
4️⃣ Morelogin Multi-account Fingerprint Browser www.morelogin.com
Everyone is searching for#
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