Nowadays, more people are using smartphones and computers, across the United States, for their banking needs. According to Statista, approximately 65 percent of Americans are expected to utilize online banking by 2022. Most of the mobile banking and payment service applications also support user investing, most recently, in cryptocurrencies. Our mission is to find out if Dogecoin and the Cash App have a working relationship.
As of 2021, the cryptocurrency Dogecoin cannot be purchased through the Cash App but, we’re sure this will change in the coming days. Due to the enormous surge Dogecoin has had from 2020 into 2021 and how mobile banking and online investing will evolve, the addition is inevitable.
We recommend using eToro to buy DogeCoin
Is There Dogecoin Purchasing on Cash App?
Currently, Dogecoin cannot be bought or utilized using the Cash App.
Cash App only supports the cryptocurrency Bitcoin and there has been no word from owners about adding Dogecoin.
If Not From Cash App. Then, Where? And How?
Just because you can’t buy Dogecoin on Cash App, doesn’t mean it’s particularly difficult to get your hands on some.
Where to buy Dogecoin?
You can purchase Dogecoin through cryptocurrency exchanges like Coinbase, eToro, Gemini, Binance or Kraken or from online brokers, including Robinhood and TradeStation.
Before creating an account, it’s best to compare all of the exchanges in order to find the one that suits your needs the most. Some don’t allow the transferring of Dogecoin, only the buying, and selling of it. Others charge higher fees based on how you deposit funds, and their source type.
We recommend eToro for the lowest fees!
How to buy Dogecoin?
- First, create an account with the exchange, or online broker, of your choice, input your information and complete a Know Your Customer procedure, which gives you the ability to buy cryptocurrencies, including Dogecoin.
- From there you need to deposit funds into your new account. Many available exchanges allow you to purchase Dogecoin using the fiat currencies – USD, EUR, AUD – as well as via credit and debit cards, e-wallets, or direct bank transfers.
- Now you can search for Dogecoin through the exchange. Simply enter the amount you want to buy and the exchange will calculate the Dogecoin equivalent based on the current market rate. You can purchase using any fiat currency or other cryptocurrencies.
- Once obtained, it’s a sound idea to transfer your digital coins to a crypto wallet. They come in 2 forms – Hardware and Software. Hardware wallets are the safest type but, they require an initial investment to own and use. From online services like Coinbase, to mobile device apps or your hard drive, your virtual wallet holds your various coins apart from the exchange. Thereby adding another layer of protection against hacks.
Dogecoin on Cash App – How Would That Effect Value?
Although you can’t obtain or use Dogecoin on Cash App currently, it’s easy to see how that method would influence the value of Dogecoin.
Dogecoin, like Ethereum or Bitcoin, is a cryptocurrency on the rise. Its origin story, however, is quite different. Dogecoin was originally created as a lighthearted jab directed mainly at Bitcoin.
Creators Billy Marcus and Jackson Palmer branded the cryptocurrency’s logo using a popular meme that displayed a picture of a Shiba Inu dog with the description “doge.”
Holders of the cryptocurrency are standing firm in their belief that the support of Dogecoin on Cash App will likely increase its value, popularity, and legitimacy. At the very least, it will grant more people access to the ability to purchase it. The addition of Bitcoin to Cash App caused similar value spikes.
Conclusion: Potential Solutions
As of writing – 2021, Dogecoin cannot be utilized in any fashion using the Cash App.
One possible solution could be the users of Cash App starting an e-mail campaign to request incorporating Dogecoin on their platform.
A better option, and one that you can forge ahead with immediately, is the cryptocurrency exchange eToro.
eToro is constantly growing its selection of cryptocurrencies – 17 in total as of 2021. Also, they have trademarked Crypto CopyPortfolios which present flexible options that offer balanced exposure and management by their expert investment committee.
Here is a current list of all the cryptocurrencies provided by eToro:
- Bitcoin and Bitcoin Cash
- Etheruem and Ethereum Classic
- Stellar Lumens
Now that we’ve given you some important insights, you're ready to dive in. Just because Dogecoin isn’t offered on the Cash App presently, doesn’t mean it will stay that way. Until then, there are many other options to look into so, be sure to research further and good luck!