Dogecoin has risen to become the sixth-largest cryptocurrency globally, attracting many new investors. However, due to regulatory restrictions in China, beginners often struggle to find reliable platforms to purchase Dogecoin. This guide provides a detailed walkthrough to help you buy Dogecoin safely and efficiently.
How to Buy Dogecoin in China
Currently, the primary method to buy Dogecoin in China is through cryptocurrency exchanges. Popular platforms like OKX, Huobi, Binance, and Gate support RMB transactions. Most of these exchanges allow deposits via WeChat Pay, Alipay, or bank transfers. After depositing RMB, you can directly purchase Dogecoin or exchange RMB for USDT first, then trade for Dogecoin.
Step-by-Step Guide to Buying Dogecoin
This tutorial uses OKX as an example, but the process is similar for other exchanges like Gate.io, Binance, or Huobi.
1. Download the Exchange App
The first step is downloading the exchange’s app. For Android users, you can install the APK directly. iOS users cannot download the app from the China App Store but can access it via the official website.
👉 Visit OKX Official Website to download the app.
After downloading, register and log in.
2. Complete Identity Verification
To deposit funds or trade, you must verify your identity.
– Navigate to “Identity Verification” in the app.
– Select China as your country and enter your name and ID number.
– Level 1 verification allows basic trading without additional documentation.
Higher verification levels unlock larger withdrawal and trading limits.
3. Deposit Funds
There are two scenarios for depositing funds:
a. For New Users (No Cryptocurrency)
- Go to “Buy Crypto” and select “C2C Trading.”
- Choose USDT and your preferred payment method (WeChat, Alipay, or bank transfer).
- Select a seller based on transaction limits and payment options.
- After confirming the transaction, transfer RMB to the seller to receive USDT.
Tip: Start with a small amount to familiarize yourself with the process.
b. For Users with Existing Crypto
- Navigate to “Assets” > “Deposit.”
- Select the cryptocurrency and blockchain network (e.g., USDT via TRC-20).
- Transfer funds from your external wallet or exchange.
USDT deposits typically take 5 minutes via TRC-20.
4. Trade for Dogecoin
- Go to “Spot Trading” (recommended for beginners).
- Search for the DOGE/USDT trading pair.
- Choose between “Limit Order” (set your price) or “Market Order” (instant trade).
- Avoid market orders if you’re new to trading.
Monitor your orders in “Order History,” where you can modify or cancel them.
What Is Dogecoin?
Dogecoin (DOGE) is a meme-inspired cryptocurrency that started as a joke but evolved into a top-tier digital asset.
- Popularity: Elon Musk’s endorsements fueled a 30,000% price surge in 2021, briefly pushing its market cap above $80 billion.
- Origins: Created in 2013 as a parody of Bitcoin, Dogecoin now boasts a robust ecosystem, including wallets and a foundation.
History of Dogecoin
| Year | Milestone |
|---|---|
| 2013 | Launched by Billy Markus and Jackson Palmer as a joke. |
| 2014 | Sponsored NASCAR and the Jamaican bobsled team; donated to charities. |
| 2017–2018 | Price peaked at $0.018 during the crypto bubble. |
| 2019 | SpaceX sent a Dogecoin payload to space—the first crypto space transaction. |
| 2021 | Listed in Grayscale’s crypto products; surged to all-time highs. |
FAQ
1. Is Dogecoin legal in China?
While China restricts cryptocurrency trading, individuals can still trade Dogecoin on offshore exchanges like OKX.
2. Which wallet supports Dogecoin?
Trust Wallet and Ledger are popular options. Always use wallets with strong security features.
3. Can I mine Dogecoin in China?
Mining is banned in China, but you can buy DOGE on exchanges.
4. Why is Dogecoin so volatile?
As a meme coin, its price is heavily influenced by social media trends and celebrity endorsements.
5. What’s the best payment method for buying DOGE?
C2C trading with WeChat or Alipay is the most convenient for Chinese users.
6. How do I avoid scams when buying Dogecoin?
Stick to reputable exchanges like OKX and verify sellers’ transaction histories.
👉 Explore OKX for Secure Dogecoin Trading
Final Tips
- Start with small investments to test the platform.
- Use limit orders to control your purchase price.
- Keep your assets in a secure wallet after purchasing.
By following this guide, you can safely navigate the process of buying Dogecoin in China. Happy trading!