Dogecoin on Robinhood: Can You invest, Can’t Buy/Sell? [How to Guide]

Sarvin Batra
8 Min Read
Dogecoin and dollars on black background.

Are you wondering that can you Buy dogecoin on Robinhood App or not. The post will answer your following question Can you buy dogecoin on Robinhood, How to invest in Dogecoin using Robinhood?, How to Buy Dogecoin on Robinhood App, How to Sell Dogecoin on Robinhood, Why Can’t I Buy Dogecoin on Robinhood, Why Can’t I Sell Dogecoin on Robinhood and much more about this latest trading Cryptocurrency.

How to invest in Dogecoin using Robinhood?

Dogecoin on Robinhood: Can You invest, Can’t Buy/Sell

If you are a Crypto enthusiast then there is no chance that you may not hear about Dogecoin.

This Cryptocurrency is not new but existed long before its price hike in the year 2021 after Elon Musk tweeted it would be the future to Cryptocurrency and declared it as a favorite cryptocurrency.

It may be started as a joke but now it turns out to one of the fastest-growing currencies, at least from the past few weeks.

In last month this Digital currency crossed its price by 10 cents for the first time and at the Time of Writing this post its the price was $0.602517.

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Don’t be surprised if its price would be 10 or 20 times higher when you will read this article.

If you want to invest in currency, You can invest in it from the popular mobile trading/investment tool Robinhood App.

Here, I am going to guide to that How to Invest in Dogecoin on Robinhood App.

Can you buy Dogecoin on Robinhood?

Yes, you can buy almost all of the popular currency on Robinhood.

This App not only provides you service to Buy, Hold, and Sale this Digital currency but you can do your Trade without any Charges.

If you are already a Trader/Investor who uses Robinhood then you already know that this site offers you Trades without charging any commission.

Using that Mobile Trading App you can not only invest in Crypto but also in Stock Market, Gold, Options, Funds, and other financial instruments online right from your smartphone.

Of course, before proceeding to crypto exchange you need an account for that,

For that, you can download the App or if you are Computer/Laptop users you can head over to Robinhood.Com

How to Buy Dogecoin on Robinhood App

Once you Download Robinhood App on your Mobile Phone and Sign up for an account or log in to your pre-existed account

You have to do the following-

  1. Make sure you have enough funds enough digital coins as you desired. If not just add funds to your account first.
  2. Open the App and Tap on Search Bar/Magnifying Icon on the Bottom Navigation menu.
  3. In the search field Type “Dogecoin”.
  4. Tap on the result shown.
  5. You will see Buy and sell button.
  6. Tap on Buy Button.
  7. On the next page, you will have to enter the amount in DODGE, for example, if you want to buy five Dogecoin then enter 10 there.
  8. The estimated cost is shown to you. That much amount will deduct from your account to buy those coins.
  9. Click on Review to review your order.
  10. Confirm the Buy and it will be added to your investments.

If you want to trade from your Computer/Laptop then you can head over directly https://robinhood.com/crypto/DOGE.

Please Note Down – Currently, you can not buy less than 10 DODGE on Robinhood.

Why Can’t i Buy Dogecoin on Robinhood?

There are certain needs to be meet for any kind of trades for execution.

  • You have to purchase 10 or more Dogecoin on Robinhood. So make sure that the Quantity you enter there should be more than 10.
  • It goes without saying buy You should have enough funds in the account to actually buy those crypto coins.
  • Your Robinhood account may be flagged or restricted. In cases like this, you already received mail in your registered account. You can contact customer support for more information.

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However recently there was news that Robinhood was crashed, Perhaps because there were so many people trying to buy this Cryptocurrecny.

How to Sell Dogecoin on Robinhood

If you already got a hold of Dogecoin, then good luck now holds that for long time and lets your investment grow.

However, if you already tired of trading or just bought more than you afford in Crypto trading, You can sell dogecoin when you want to.

Here is the process that you need to Follow for selling-

  1. Open the App, On the Home page Scroll down until you found Cryptocurrency section.
  2. If already bought it, You will see DODGE in your portfolio, click on it.
  3. On the next page, There will be Buy and sell button.
  4. Click on Sell because we are going to sell Dogecoin.
  5. On the next screen you have to enter Amount: in DODGE (Meaning Quantity) that you want to sell.
  6. Hit the review Button.
  7. Review your selling order and if you are satisfied with it confirm selling.

Why Can’t I Sell Dogecoin on Robinhood?

The Simple answer for the current Scenario is that perhaps Robinhood isn’t ready to deal with the surge in Dogecoin.

Of course, things like that are normal when a Currency in which no one was really interested now risen more than 12,500 times and all this in a very short time span.

A large number of users are want to buy this Crypto, Even the one who was not really intrested in Crypto trading a few days back.

And becouse of that Servers are crashed.

At least, this was the main problem with almost all of the users when I write this post.

Another reason may be due to some restrictions on your Trading account.

In case, you can contact Robinhood Customer Support and Demand an answer.

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Further Questions

One thing you must remember before proceeding to invest your money in Crypto on Robinhood that this is not a Crypto Wallet.

A Crypto wallet is different from Crypto Exchange. If you want to send someone Money in Cryptocurrency you use a Crypto wallet.

If you want to invest/trade in crypto, you use Cryptocurrency exchange and Robinhood is exactly that.

So in short-

  • You can not transfer Dogecoin to anyone or receive it from someone else.
  • You can only trade there, which means you can only sell or buy Dogecoin nothing else.
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Sarvin Batra is the Main Author, Editor at CnbDaily. He is an Expert in Tech especially Related to mobile phones, Android applications and Their uses. You can Connect with him on His Twitter Profile @SarvinBatra
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