How to Buy Dogecoin in Belgium in 2024

Buying Dogecoin in Belgium comes down to two major outlets; crypto exchanges and brokerage platforms. Belgian users can use either of the two to access the cryptocurrency market. 

Investing through exchanges is a popular way of purchasing cryptocurrency, especially for people that want to be long-term investors of Dogecoin. You can easily move the coins into an external wallet to ensure the maximum security of your investment.

The other option is to buy from brokerage platforms. The brokers provide services to traders who wish to speculate on the price of the cryptocurrency, using investment vehicles like contract for differences (CFDs) and futures or options. In this case, you are not buying the main DOGE, and you don’t need to buy a wallet and store the coins.

We want to make it easier for Belgians to trade DOGE on the best platforms available to them. Hence, our research team worked hard to select the best exchanges and brokers that sell Dogecoin in Belgium.

Step by Step Guide - How to Buy Dogecoin in Belgium

It can be a tough task for anyone to buy cryptocurrencies. It is even harder for people new to the market and yet to understand how crypto trading platforms work. We have broken down the DOGE buying process into five easy steps

Step 1: Find an Appropriate Platform to Buy Dogecoin

As one of the leading cryptocurrencies, Dogecoin is available on numerous brokerage platforms and crypto exchanges. You will need to choose a platform you wish to work with, and that depends on your investment needs and style.

You should use cryptocurrency exchanges if you fancy yourself to be a HODLer (a long-term investor). By buying DOGE from a crypto exchange, you are acquiring the real coins, giving you the option to move them to a cold storage wallet to ensure maximum security. However, a broker is your best bet if you are only interested in conducting quick, hassle-free trades.

Regardless of your investment style and choice of a platform, ensure that you work with regulated ones. The unregulated platforms will promise you lower fees and other perks. However, your funds are at risk with them since they are not regulated, and the platforms are not covered by any insurance in the event of a theft, a hack or an exit scam.

Step 2: Registration / Create a New Account

After setting your mind on the platform to use, open a trading account with them. Usually, most platforms allow you to open a trading account using an email address, a phone number or using your social media account.

The account will be activated almost instantly, and you will proceed to complete the KYC procedure before buying DOGE. Each of our recommended platforms will require you to provide necessary copies of your ID (like passport, driver’s license or more) and proof of address (bank statements or utility bills). Some might even ask for a selfie.

Some traders think this process is inconvenient, and they switch to unregulated platforms to avoid it. However, KYC is important to ensure the safety of your DOGE investment and other cryptocurrencies. KYC is already popular in other financial markets, and it should be the same with cryptocurrency platforms.

Step 3: Deposit Funds

With the KYC process completed, your exchange or brokerage account will be fully activated, allowing you to buy DOGE. However, you will need funds to buy DOGE, and this is what this stage is about. Belgian investors can fund their trading accounts using a wide range of payment methods. Some of the most popular ones include bank transfers, PayPal, credit and debit cards and others. The choice is yours, but each of the platforms has its pros and cons.

PayPal is a funding option on some cryptocurrency trading platforms. However, it is not readily available on most platforms, which means you have to choose the exchange or broker that supports your payment needs.

Step 4: Start Trading or Buying Dogecoin

After the deposited funds reflect in your account, you can use them to purchase DOGE or start trading the cryptocurrency against other leading coins or fiat currencies. If you choose to go with a crypto broker, you will be granted exposure to DOGE through investment vehicles like CFDs. This allows you to make profits from DOGE’s price performance without holding the underlying coin.

On the flip side, if you choose an exchange, you will purchase the actual DOGE coins, giving you the option of moving them to external wallets for safekeeping or using them for other functions. 

We also have exchanges like Binance that grant traders exposure to cryptocurrencies via futures and options, and we have brokers such as eToro that allow users to purchase the actual coins from their platforms.

Step 5: Optional Steps

You can take extra steps to ensure the safety of your investment or boost your potential profits after buying Dogecoin. These optional steps are listed below.

• Store in an external wallet: As a long-term holder, it is recommended to move your DOGE coins to external wallets like Trezor, Ledger or Trust Wallet. This will increase the security of your DOGE investment.

• Hedge the coins: Derivative traders can open complementary positions to hedge their DOGE coins.