Attention: This guide covers buying Bitcoin with USD and then converting it Dogecoin. For direct USD to Dogecoin currency conversion, please refer to this guide.
Last updated on Jan 31, 2014.
You can expect this process to take up to 4 - 7 days your first time through. For this guide, we will be purchasing Bitcoin (BTC) through a Bitcoin exhcange and then convert it to Dogecoin through a general trade exchange.
In order to convert Bitcoin to Dogecoin, you will need a:
I documented every step along the way, so enjoy this guide fellow shibes!
To buy bitcoin, you will need to setup an account with a bitcoin exchange. I suggest and have the most experience with coinbase (disclaimer: this is our referral link), although any exchange from this list would work. With coinbase you are required to verify your phone number and bank account. If your bank account does not allow for instant verification, coinbase will make two small deposits into your bank account for verification (similar to PayPal). This will take a few business days to show, many patience!
Verifying phone number with Coinbase:
Verifying back account with Coinbase:
In order to convert your BTC to doge, you will also need an account with a trade exchange that supports virtual currency conversion. I suggest and have the most experience with Cryptsy, although any exchange from this list would work.
After creating your Cryptsy account, you will need to generate a send address to transfer your Bitcoin to your Cryptsy account. Visit "Balances" from the navigation menu, select the Bitcoin dropdown button and choose "Deposit".
Then generate a new deposit address. You will use the generated address to transfer your purchased Bitcoin to your Cryptsy account in step 4.
With your exchange account created and your coinbase verification complete, you can now start the journey of acquiring Dogecoin. Such happy, many excite!
We first need to purchase Bitcoin through Coinbase. Log into your Coinbase account, then choose “Buy/Sell” from the left sidebar and enter the amount of Bitcoin you want to purchase. Entering any amount of BTC will update your total, no need to maths!
After you’ve submitted the amount of BTC you want to purchase, you will be asked to verify the transaction.
Note: There is a 1% transaction fee on all Bitcoin purchases.
Once you have confirmed the transaction, you play the waiting game (typically 3-4 business days) until your BTC arrives. I suggest packing for your trip to the moon in the meantime!
When your BTC has arrived in your Coinbase account, it’s time to send it to your send address generated with Cryptsy from Step 2. Choose “Send/Request” from the left sidebar and select “Send Money”.
Then input your send address and how much BTC you want to deposit.
Note: The send address should be the Cryptsy wallet address you generated in step 2.
After the Bitcoin has been deposited into your Cryptsy account, it's time to convert it to Doge! You’ll need to visit the DODGE/BTC trade market page, which can be found here. On this page, you will see the option to buy DOGE with BTC.
Enter the amount of doge you want to purchase and then submit your buy order.
Note: You may get a price alert notifying you that you are buying higher than the current selling price. If you receive this message, cancel and modify the "Price per DOGE" to match the current top selling price, then resubmit your buy order.
You will receive an order confirmation screen after submitting your buy order. Confirm for much coin!
With your BTC officially converted to Dogecoin it’s time to cash out, many applause!
Revisit "Balance" from the navigation menu, select the "DOGE actions" button for Dogecoin and choose "Withdraw".
Choose the send address for your Dogecoin wallet, enter the amount of Doge you want to send and process the withdrawal.
You should now see you hard earned monies in your Dogecoin wallet, many congrats shibe!