How to Buy Dogecoin With PayPal in 3 Steps (with Photos)

Have you heard about the Dogecoin craze sweeping the internet? This lighthearted cryptocurrency featuring the famed Shiba Inu meme dog has quickly risen to become one of the most popular altcoins.

But if you use PayPal as your primary online payment method, you may have noticed there‘s no direct way to purchase the trending DOGE token.

Not to worry! This comprehensive, 2500+ word guide will demonstrate step-by-step how to buy Dogecoin safely using your trusted PayPal account and a supporting crypto exchange.

Here‘s what I‘ll cover:

So if you‘re eager to join the pack of Dogecoin enthusiasts thanks to PayPal‘s convenience and security, read on! I‘ll be guiding you through this process as a friend, using simple yet comprehensive explanations.

Overview: PayPal‘s Crypto Offering

PayPal opening up cryptocurrency purchases directly through their platform is a huge milestone. This grants easy access to digital coins for over 350 million account holders globally.

Some standout benefits include:

• No bank details needed – Unlike traditional crypto exchanges, you don‘t need to connect a bank account or card details to fund buys
• Trusted provider – PayPal has an over 20-year track record of security and resolving fraud
• Instant trading – Lightning-fast transfers between your balance and supported coins
• On-the-go functionality – PayPal‘s slick mobile app enables trading crypto anywhere

Despite the above advantages, PayPal currently only lets you buy and sell these four cryptocurrencies:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Bitcoin Cash (BCH)

This (sadly) leaves out Dogecoin for now, despite DOGE consistently ranking among the top 10 market cap coins.

But don‘t abandon your doge dreams just yet! By using a supporting third-party crypto trading platform, you can buy DOGE with PayPal in just three easy steps:

Step 1) Fund your PayPal balance
Step 2) Select a platform selling DOGE with PayPal payments
Step 3) Enter DOGE amount and complete purchase via PayPal

Let‘s explore each step in more detail…

Step 1: Fund Your PayPal

In order to buy Dogecoin or any cryptocurrency using your PayPal account, there first needs to be funds available. Even if you already have a balance, topping it up prior to making a purchase ensures the crypto trade won‘t get interrupted.

Here are some popular ways to add money into your PayPal balance:

As you can see, bank transfers are the cheapest route since they incur no fees. But this comes at the cost of slower settlement times. Meanwhile, credit/debit cards have pricey surcharges given they leverage the Visa/Mastercard networks but enable instant funding.

I personally recommend the PayPal.me funding option if available. This generates a shareable personalized link letting others transfer money to you with no fees. Activation simply requires verified identity. If going this route, notify the sender to provide a payment note mentioning the deposit is intended for crypto purchases to avoid issues.

One last critical point – be sure your PayPal account doesn‘t have any usage restrictions or temporary holds on the balance prior to initiating a buy order. Log in and check for any pending identity verifications, bank confirmations or account limitation notifications from PayPal. Fulfilling these removes constraints like max $100 weekly withdrawals that could sabotage your Doge plans!

Here‘s an example of PayPal‘s interface showing available balance and linked payment methods:

With available funding set up and pesky account limits eliminated, you‘re ready to move onto locating a suitable Dogecoin exchange platform integrating PayPal…

Step 2: Trading Platform Selection

Since PayPal itself doesn‘t directly support Dogecoin just yet, next you must find a third-party brokerage or exchange to conduct the purchase and sales.

An ideal DOGE/PayPal exchange should have:

• Dogecoin trading pairs (DOGE/USD, DOGE/BTC etc.)
• Integrated PayPal deposits/withdrawals
• Reasonable fee structure
• Strong security practices
• Positive reputation

Here are three highly-rated platforms meeting the above criteria:

Out of the three, I recommend eToro as a great starting point for buying your first Dogecoins via PayPal. The onboarding process is very straightforward with minimal verification steps required upfront before making purchases. Their trading interface is also intuitive for beginners.

For example, here‘s a snapshot of the mobile app dashboard after logging in (regular or practice account):

Now let‘s walk through executing a Dogecoin buy order on eToro using PayPal step-by-step…

Step 3: Buying DOGE with PayPal

In three easy steps, you can complete a Dogecoin purchase on eToro using your PayPal balance:

1. Search for "Dogecoin" / DOGE

Within the eToro mobile app or web trading dashboard, type "doge" into the search bar and select the DOGE/USD pairing when displayed.

This gives you a quote showing the latest Doge price in USD and other stats:

2. Enter investment amount in USD

Next, tap on the orange "Invest" call-to-action button which previews order details:

• DOGE price per coin
• Total $ amount you typed to invest
• Estimated DOGE coin quantity

For example, a $50 order with DOGE at $0.075 would yield ~667 DOGE coins.

Confirm all looks accurate then proceed to next screen.

3. Select PayPal & authorize purchase

As desired funding source, choose PayPal from the available payment options. This will initiate a secondary confirmation prompt to securely log into your PayPal account and approve the charge.

After authenticating, you return back to eToro interface and see pending order notification. In 1-2 minutes, DOGE balance gets credited to yourtrading portfolio!

From there, you can opt to transfer into a private wallet, exchange for other assets or hold on platform.

And that‘s seriously all there is to it! Three quick steps facilitated by PayPal‘s convenience to acquire the coveted Dogecoin memecoin.

What Fees Apply?

When funding crypto buys via PayPal and/or withdrawing later, some common fees include:

PayPal balance funding

As covered earlier, PayPal offers various methods to add money into your account balance. Bank transfers are generally fee-free. Debit/credit card top-ups incur ~3% charges. Receiving payments via PayPal.me or for goods/services sold also avoids surcharges.

Cryptocurrency trading

Exchanges generate revenue from buy/sell spreads on each trade. eToro‘s spread averages ~0.75% per DOGE transaction. So $100 traded equals $0.75 fee paid. Higher volume traders can qualify for reduced spreads down to 0.5%.

Cashing out

Withdrawing from the trading platform back to PayPal has associated costs to process on-chain transactions.

• eToro charges a $5 flat fee for withdrawals
• Crypto.com – $10 + miner gas fees
• Coinbase – $10 fee

These cash out costs apply universally when moving crypto back into any funding source – PayPal balance, bank account etc.

In summary – costs are present across various phases but offer convenience versus traditional linked bank account setups on exchanges. PayPal‘s integration shields sensitive financial data as well.

Will PayPal Support DOGE Soon?

Given Dogecoin‘s meteoric growth in popularity and market cap standing firmly amongst the top 10 cryptocurrencies, many analysts predict PayPal formally adding DOGE to its listing in the near future.

Integrating blockchain deposits, withdrawals and settlements takes legwork however so 12-18 months is a realistic timeline based on previous coins rolled out.

Until then, seasoned PayPal users have already taken the DIY approach outlined in this guide purchasing DOGE via integrated third-party exchanges.

So by being an early adopter, you‘ll have a headstart getting acquainted with DOGE trading ahead of any potential influx of new PayPal users when/if officially launched!

Security Considerations

While convenient and user-friendly, it‘s worth highlighting some inherent risks associated with holding crypto on any third-party trading platform versus privately controlled wallets. These include:

• Hacks/Intrusions – Exchanges have been common targets historically for attackers, resulting in theft of stored coin reserves
• Liquidations – During times of extreme market turbulence, undercapitalized exchanges struggle with liquidity to honor withdrawals
• Regulatory shifts – Forces out of the business‘ control e.g. policy changes, license revocation etc.

Here are a few tips to trade securely:

• Enable 2FA login – Adds an extra credential check via SMS code or authentication app
• Use strong passwords – Randomly generated 15+ character passwords are much harder for brute force hacks
• Limit account balances – Storing your entire crypto portfolio on an exchange long term is generally not advised
• Understand insurances – Platform coverage specifics, caps and exclusions

PayPal‘s Edge for Crypto

While some risks around volatility and security need to be accepted when diving into crypto, PayPal does offer some advantages over traditional cryptocurrency exchanges:

• No bank details needed – Unlike most trading platforms requiring account number details, PayPal‘s integration means there‘s no need for this sensitive info
• Consumer protections – For eligible purchases, PayPal‘s legendary purchase protection can refund payments in case issues arise
• Fast settlement – Near real-time movement between your balance and buys/sells completes quicker than bank transfers

So by keeping your transactions within the safe confines of your PayPal wallet as much as possible, risks are reduced.

Of course holding DOGE purchased long term is best achieved by transferring into your own private storage. But for getting started, PayPal handily lets you bypass traditional funding hurdles.

Frequently Asked Questions

Let‘s recap some common questions when exploring buying Dogecoin using your PayPal account:

Why doesn‘t PayPal natively support buying DOGE yet?

Integrating support for a new blockchain involves extensive development work around node management, security protocols and liquidity relationships. Given DOGE‘s relatively recent meteoric rise in adoption, PayPal is likely still building this capability with a goal of ensuring smooth customer experience.

What‘s the fastest way to receive DOGE into my wallet?

The speediest method is to conduct your trade on a platform already integrated with PayPal, then immediately withdraw to your private DOGE-compatible wallet address. This avoids slower traditional bank settlement times.

Is PayPal the safest way to buy crypto for beginners?

"Safest" is relative – cryptocurrencies themselves carry inherent volatility risks. That said, PayPal does offer users strong fraud protection and their interface avoids beginners needing to directly input bank account details to fund purchases which reduces security attack surfaces.

Why are fees to buy crypto with PayPal still present?

While convenient to use PayPal‘s wallet, their integration with exchanges passes through the trading platforms‘ existing fee structures. Charges relate the networks‘ operations, liquidity costs and desired profit margins. New user growth may gradually improve scale and fees.

Can I move DOGE purchased back out into my PayPal balance?

Yes! The platforms mentioned here all support two-way transfers between your USD/crypto balances. This allows cashing out DOGE when desired back into your PayPal wallet, although network withdrawal fees apply.

I hope reviewing the FAQs above gives you added perspective and confidence in safely getting started buying Dogecoin using PayPal and a supporting exchange as a beginner-friendly bridge. Feel free to reach out with any other questions!

Let‘s Start Your DOGE Journey!

We‘ve covered a lot of ground detailing how to buy Dogecoin with PayPal – from available funding methods, vetting trading platforms, executing DOGE purchases and more.

The key takeaways are:

• PayPal‘s crypto integration makes buying mainstream coins easy, but does not yet support Dogecoin
• Using a PayPal-connected exchange like eToro enables purchasing DOGE safely
• Minor fees are present, but benefits generally outweigh costs
• Take security precautions when leaving coins on an exchange long term

With this start-to-finish walkthrough guiding you, the process is very manageable even for crypto newcomers.

So what are you waiting for? Go open that PayPal app and grab some coins to join the doge pack! Let me know if any other questions come up.