The BTC peer-to-peer network was launched in 2009 by the mysterious Satoshi Nakamoto. The goals were hard to argue against — cutting off the middleman, establishing trust, reducing transaction costs, and increasing security. It soon became so successful that it inspired other cryptocurrencies. They are now called altcoins.
How to Buy BTC Using DOGE
DOGE is one of the earliest altcoins to receive a massive following. It is the brainchild of Billy Markus, an American software engineer. It began as a joke since its logo featured the Shiba Inu dog that was once popular on memes. DOGE has now garnered much traction as well as loyalty from its worshipers. One of its biggest strengths can be owed to its die-hard fans. Elon Musk has posted on Twitter it several times, and Snoop Dogg has turned into Snoop Doge to support the coin. The DOGE community also uses it to leave tips on platforms such as Twitter and Reddit.
As expected, you can convert your Dogecoin to Bitcoin and vice versa. Below you will find straightforward instructions on how to exchange your DOGE for BTC. The procedure is also applicable when performing other cryptocurrency conversions.
Step 1: Go to Godex.io
Godex.io is a crypto converter and calculator that allows you to exchange over 200 coins. It is super easy to use, offers anonymity, has low fees, and fixes your exchange rates. The coin value that appears on the converter before proceeding with the transaction is the exact amount you will receive.
Step 2: Select the Coin Pairs
Select the DOGE to BTC section at the bottom of the page. Alternatively, you could fill in the fields that appear on the main page of the Godex.io website. Put DOGE on the “You Send” slot and BTC on the “You Receive” field.
How many Dogecoins do you want to spend? Fill in the number under the “You Send” category. The other option would be determining how many Bitcoins you want to get. In the latter case, the number of DOGE you will have to spend will automatically update itself.
Consider that there’s a minimum amount Godex.io exchanges. When picking the DOGE/BTC pair, the lowest number of DOGE you can swap is 2830.19, which is approximately 0.002 BTC. Keying in a smaller amount might not work.
Step 3: Enter Your BTC Wallet Address
You cannot perform a DOGE to BTC exchange online if you do not have a BTC wallet. If you already do, enter the wallet’s address, where Godex.io will be sending your cryptos. Double-check the address and click the “Exchange” button to proceed to the next stage.
Step 4: Deposit Your DOGE
The platform will automatically generate a wallet address where you should send your Dogecoin. There’ll also be a QR code that you can use. You will notice that it says “Waiting for deposit” on the right side of the website.
Step 5: Wait for Completion
After you have deposited the right amount of DOGE, sit back and relax for a few minutes. The exchange begins as soon as your deposit is confirmed. A green tick will appear beside the word “Confirmation” on the right side of the website, and the dimmed “Exchanging” tab will come to life.
The entire conversion process takes approximately 5 minutes or more, depending on the volume of coins you are converting. The larger the amount of crypto, the longer it will take.
The “Completed” tab will get the green tick once the exchange is done. This is the time to check your BTC wallet. The coins should be there, and you’ll have successfully used your DOGE to buy BTC. Easy, fast, and secure. No need for signing up or going through tedious user verification procedures.
Bonus Point: How to Create a BTC Wallet
If you don’t have a Bitcoin wallet, bitcoin.org helps you choose your wallet. Click on the link or visit the site and search. You will be prompted to answer a few questions to help you find your perfect wallet. You can also skip this step and go straight to browsing wallets.
You will have to choose a device, either mobile or desktop, as well as its operating system. There are also several filters to narrow down your search, including user type, criteria (such as fees, transparency, privacy, etc.), and features (such as 2FA). They will also provide you with a detailed list of several wallets that suit your needs.
CONCLUSION
Converting cryptocurrency has never been so easy. Now, you know how to use your DOGE to buy BTC. Remember, you need to have a wallet for both coins and at least enough Dogecoin to purchase the minimum amount of BTC on Godex.io. Have fun trading!