Fidelity Investments allows users to buy all kinds of digital currencies except Dogecoin. Dogecoin has evolved from a meme cryptocurrency that had no hope of competing with Bitcoin, Ethereum, and other top cryptocracies. Nevertheless, Fidelity is not stopping its customers from buying or selling Dogecoin despite Elon Musk’s comment causing its value to drop.
Despite its origins as a meme, Dogecoin is now used to open accounts and purchase Dogecoin on websites, apps, and exchanges such as Coinbase and Binance. Several new and established trading entities have shown interest in Dogecoin, and many now allow their users to buy Dogecoin.
Cryptocurrencies continue to show the world that they deserve to be listed on various exchange services and trade markets. Robinhood, Webull, Coinbase, and Crypto.com are among the other reputable exchanges that allow users to use their platform to buy cryptocurrencies like Ethereum, Bitcoin, and, of course, Doge.
Because Doge’s retail investor community is large enough, Fidelity was drawn. Hence, Dogecoin has come to be used by a broad range of entities in addition to the investing platforms listed above, such as personal transactions, retail businesses, charities, and others.
Many have created mutual funds, retirement plans, and stock portfolios through cryptocurrency trading and have made good money supporting currencies like Dogecoin through websites. It is still essential news when and if Fidelity begins to allow the free trade of Dogecoin when and if they don’t currently allow it. This alone is enough to question the decision made by Fidelity to deny account holders the ability to trade and purchase Dogecoin.
How can I purchase Dogecoin on Fidelity?
The news that people have been buying Dogecoin has been making headlines repeatedly this month, which is surprising. Fidelity doesn’t currently support Dogecoin. Surprisingly, no word has been received about Fidelity supporting Dogecoin.
Those customers who aren’t afraid to pay hefty fees for access to legitimate digital assets have also started to research different banking services so they can transfer, save and purchase Dogecoin. Dogecoin is likely to be left out of Fidelity’s account holders if they cannot buy it like a stock.
Where can I buy and sell Dogecoins?
Many brokers are available to account holders who wish to buy Dogecoin, though this article cannot list them all. Binance and Kraken offer websites to buy Dogecoin with your credit card online easily. Additionally, both organizations allow credit card purchases of Dogecoin online.
In the future, can Dogecoin reach?
You wouldn’t believe how volatile the cryptocurrency market is compared to the stock market. As the markets are open 24 hours a day, seven days a week, your investments will rise and fall constantly. So with that in mind, will Dogecoin be able to reach the $10 mark?
In reality, there are many opinions on this issue, and many financial experts have spoken about it. However, all of the speculations that Dogecoin will hit $10 boils down to one thing: scarcity. Unlike nearly all cryptos, Dogecoin does not have a supply cap, which means there will always be an infinite amount of Dogecoins.
In the world of the internet, nothing is impossible. If a sufficient number of people buy Dogecoin, it’s possible that it could hit $10. The price of Dogecoin is expected to rise as investors learn about their investments in the cryptocurrency and share their information.
The first thing we need to do to make Dogecoin viable crypto is to introduce scarcity by cutting off its infinite supply. If this happens, Fidelity may reconsider their decision not to allow its account holders to purchase and sell Dogecoin. Likewise, Robinhood and Binance will likely see a spike in demand for Dogecoin if this happens.
Dogecoin needs to prove itself as a viable cryptocurrency. For now, it doesn’t matter which website allows people to purchase Dogecoin. Once Dogecoin proves itself, it will eventually be backed by a bank or a reputable exchange or website.
Is Dogecoin Worth Buying?
Dogecoin’s recent price increase does not mean it has suddenly become an attractive investment. On the contrary, the cryptocurrency that’s made headlines recently has been Dogecoin. Dogecoin’s value had risen by 12,000% in the last year or so, and Ethereum and Bitcoin’s values had increased by 1,000% and 300%, respectively.
Many cryptocurrencies fail to survive, which is the main problem with most of them. The main problem with Dogecoin is that it will increase in price for a long time. In most cases, they do not offer long-term growth, or their creators walk away, leaving their sites without comment or updating them.
It’s important to remember that in the end, cryptocurrencies, for the most part, are still considered to be speculative assets. There’s no way to tell if Dogecoin will still exist two years from now, no matter how much gurus on YouTube and Reddit discuss digital assets.
A company such as Fidelity could change all of this if they allow Dogecoin to be traded and bought. Moreover, Fidelity’s involvement would signal to the entire cryptocurrency industry, along with traditional trading platforms, that Dogecoin is here to stay.
Here, we have shared everything we know about Fidelity offering Dogecoin as an investment asset on its platform. However, in the absence of any information about when it will start offering trendy currencies like Dogecoin, it remains to be seen whether Fidelity will make buying and selling Dogecoin free or charge a fee.
Fidelity will likely take its time to adapt to things like Dogecoin since it has made its name in the world of conventional investments.
As more and more reputable online stock markets have begun offering Dogecoin crypto worldwide, it seems like it won’t be long before Fidelity also joins the Doge market.
Frequently asked questions (FAQs)-
This is a new form of currency that works digitally. It can be used for purchasing products and exchanging them. You can also think of it as a payment method that works through cyberspace. It’s a virtual currency made secure through cryptographic techniques.
Many cryptocurrencies are on the market today, including Dogecoin, a cryptocurrency created by a meme and has a picture of a dog on its coin. There are many similarities between Bitcoin and Ethereum, including conducting transactions over a network.
One of the nation’s largest and fastest-growing financial institutions, Fidelity is a private company that deals mainly in asset and asset management. More specifically, it manages mutual funds and other financial markets and functions as a broker. Essentially, Fidelity is a larger, more advanced version of Robinhood.
There is a limit to the number of Dogecoins that can exist. That’s why some have dubbed Dogecoin an inflationary coin. Dogecoin is an open-source, peer-to-peer cryptocurrency. Its fundamental technologies are based on Litecoin. In contrast, Bitcoin has a fixed supply, which means that only a certain amount can be purchased.
Doing business with Fidelity is one of the best things you can do because it doesn’t charge commissions on stock or ETF trades.
Whether to buy Bitcoin or Ethereum depends on your motives for getting into the cryptocurrency market. If you are looking for long-term growth or securing your finances, Bitcoin is likely the better option. Nevertheless, Dogecoin might be just what you need if you’re looking for an easy and fun way to get started.