Can I buy Dogecoin on MetaMask? This guide, explains the 7 simple steps to buy Dogecoin with MetaMask wallet by connecting to Pancakeswap.
Welcome to our guide on how to buy Dogecoin. In short, Dogecoin(DOGE) is a cryptocurrency that emerged in 2013 as a playful and lighthearted alternative to Bitcoin. Moreover, it was created by software engineers Billy Markus and Jackson Palmer. In addition, it quickly gained popularity due to its association with the “Doge” internet meme featuring a Shiba Inu dog.
While initially considered a joke or meme coin, Dogecoin’s value surged in 2021, partly fueled by tweets and endorsements from tech billionaire Elon Musk. As Musk referred to it as “the people’s crypto.” Despite its origins and humorous branding, Dogecoin has attracted a dedicated community and has grown to the 8th largest cryptocurrency in the world(at the time of writing).
In this article, we’ll guide you through the steps to buy Dogecoin with MetaMask, one of the most popular cryptocurrency DeFi wallets.
How To Buy Dogecoin with MetaMask(7 Steps)
In this guide, I’ll assume you are new to crypto and have never used a crypto wallet like MetaMask. Therefore, we’ll start at level zero where you have to set up and install this wallet first.
Of course, you can skip some steps in this buying process if you already using this wallet regularly. That being said, let’s kick off from here 👍
Step 1: Download MetaMask Wallet
Download MetaMask Wallet from the App Store or Google Play Store for free. If you prefer a desktop, you can download the MetaMask wallet by going to the MetaMask website.
Besides, don’t forget to verify first if you are visiting the official MetaMask Wallet website. Otherwise, you risk downloading a fake wallet.
Step 2: Setup Your MetaMask Wallet
After downloading MetaMask Wallet, follow the steps to set it up. It’s actually really easy.
- Click ‘Create a new wallet‘
- Create a secure password
- Secure your secret recovery phrase
- Congrats! Your wallet is created
The most important part of setting up any self-custody wallet like MetaMask Wallet is recording your 12-word secret recovery phrase and storing it in a safe place.
Your secret recovery phrase is the key to your wallet and the funds within. Whoever has your recovery phrase has control of your funds. So make sure to keep it secure.
In other words, besides a password, you also need to secure the 12-word recovery phrase. The password gives access to your device, where the recovery phrase will allow you to do transactions on the blockchain.
Therefore it is important to write it down and lock it away in a safe place. Preferably in an at-home safe that is both fire and waterproof.
Never store your wallet’s private key online such as in a cloud or any files on your phone or computer.
If you lose your recovery phrase, there is no way to recover it or your wallet.
|❗ TIP – A good option for securing your recovery phrase is to use a stainless steel crypto wallet that can survive about anything, from fire to acids, and lasts more than 20 years.|
Step 3: Buy BNB Cryptocurrency First
Before you can buy DOGE on MetaMask Wallet, you need to put some BNB in your wallet which you will swap to $DOGE later on.
If you don’t have BNB, you can buy it directly on MetaMask Wallet(with a credit card), transfer it from another wallet, or buy it on an exchange and send it to your wallet.
Here are the two options for getting BNB into your MetaMask wallet.
Option 1: Buy BNB on a Centralized Exchange
You can buy BNB using one of many centralized exchanges that offer it. Binance is a popular choice.
For this, you will need to set up an account, verify your payment info, and then you’re good to go.
Once you’ve got BNB in your wallet, you’ll need to transfer it to your MetaMask wallet.
Option 2: Buy BNB directly on MetaMask
One way to avoid the next step (transferring BNB to your wallet from an exchange) is to buy it directly through MetaMask Wallet.
To do this, make sure to switch to the Binance Smart Chain first. After that just tap “Buy” in your wallet. Additionally, MetaMask will send you to a reliable third-party provider where you can buy BNB with a credit card.
Remember that buying BNB with a credit card is expensive. For instance, at Binance you can buy BNB at 0.1% in the order books. Using a credit card will cost you 5% extra.
All in all, using MetaMask for purchasing crypto is the fastest way to acquire new crypto with money.
Step 4: Transfer BNB to your MetaMask wallet
To transfer BNB to MetaMask Wallet you have to use your wallet’s public address — a unique identifier on the Binance network.
To find your MetaMask wallet’s public address, click on ‘Receive‘ button above in the menu. Once clicked, a huge QR code appears below the public key(Something like this: ‘0xa4164d6Ed324fd929c8Bb75Dd800De8B0A2b4B38 ‘)
Then, click the ‘Copy‘ icon below to store the address in memory.
Once you have your wallet’s public address, you can transfer BNB from the centralized exchange by pasting the address into the “Recipient” field.
This will send the BNB directly to your MetaMask wallet.
Step 5: Add Dogecoin token to MetaMask
MetaMask is a non-custodial wallet that has a lot of benefits like being in full control of your private keys and funds.
However, contrary to crypto wallets on exchanges like Binance or Coinbase, you have to maintain them more.
For instance, if you want to use Dogecoin in MetaMask then you have to manually add this token.
How do I connect Dogecoin to Metamask? Follow these simple steps:
- Go to Binance BSC explorer
- Type Dogecoin and choose the first result
- Copy the BSC contract address to clipboard
- Go back and log in to your MetaMask wallet
- Make sure to connect to Binance Chain first
- Also, make sure the Assets tab is open and click on Import Tokens below
- Paste the Dogecoin contract address from the clipboard in Token contract address bar
- Finally, click Add custom token and Import
Step 6: Connect MetaMask to PancakeSwap
To be able to trade your BNB for DOGE, you have to go to a decentralized exchange, connect your wallet and make the swap. In this guide, we are going to use Pancakeswap for this. To connect MetaMask wallet to Pancakeswap, follow the next steps:
- Navigate to the Pancakeswap website in the browser
- Click on Connect button on the upper right and choose MetaMask
- Finally, make sure that you are connected to BNB Smart Chain
- That’s it, you are connected to Pancakeswap
Step 7: Make the Swap on Pancakeswap
At this point, you are able to trade the initially deposited BNB for DOGE coins. To achieve this you need to initiate a swap on Pancakeswap. At default, your BNB will be selected as the token you want to use for buying.
All you have to do now is find the DOGE token, give the amount of BNB, and finalize the swap(below).
And this is how you can swap Dogecoin on Metamask. Enjoy your first steps into the fascinating world of Defi, and don’t forget to share this guide if it was helpful 😁
Crypto Transactions on Pancakeswap
Normally, it’s just a matter of seconds before this transaction will be processed. Additionally, the DOGE coins should appear in MetaMask in your Dogecoin wallet(See step 5).
Take note that if the transaction won’t go(because of high traffic), you have to modify the slippage. The default is this value set to 0,5. Additionally, you can switch to higher levels(for instance 3%) to make transactions go through. Use the Settings option above in the menu.
Finally, if you want to cash out Dogecoin all you need to do is swap it back to your cryptocurrency of choice, the same way you swapped BNB to DOGE.
The two most popular options are BNB and BUSD. From there you can send it to a centralized exchange to cash it out for fiat and transfer it into your bank account.
FAQ – How To Buy Dogecoin with MetaMask Wallet
Is Buying Dogecoin on MetaMask Wallet Safe?
It definitely is. To buy Dogecoin using MetaMask Wallet and Pancakeswap is a very reliable option, however, it isn’t an easy exercise. Beginners in crypto can also buy Dogecoin on regulated exchanges like Binance or Coinbase.
Is DOGE Supported by MetaMask
In short, yes it is supported by MetaMask. However, to use Dogecoin on MetaMask you have to manually add the token by importing it. As explained in step 5 of this guide.
Is Buying Dogecoin on MetaMask Wallet Worth It?
It’s worth buying DOGE on MetaMask Wallet if you want to own your crypto. The problem with buying crypto on a centralized exchange is that you don’t actually own it, the exchange does. Using MetaMask wallet enables you to own your wallet’s private key and thus your DOGE tokens.
Can I Transfer Dogecoin To MetaMask?
Yes, this is possible. As explained above in step 5 of this guide, you manually have to add this token to MetaMask first. After that, you can use the public contract address to receive payments.
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