Dogecoin is one of the most recognised cryptocurrencies in the world, known initially as a meme coin but now traded by millions of investors globally. In India, DOGE has attracted both casual buyers and active traders. If you want to buy Dogecoin in India, this guide explains the steps, costs, and risks clearly.
What is Dogecoin (DOGE)?
Dogecoin was created in 2013 as a joke by software engineers Billy Markus and Jackson Palmer. It was based on the Doge internet meme featuring a Shiba Inu dog. Despite its origins as a parody, Dogecoin grew to become a serious asset by market capitalization.
Key facts about Dogecoin:
- Launched in December 2013
- Based on Litecoin’s code (which itself was based on Bitcoin)
- Unlimited supply with approximately 10,000 new DOGE mined every minute
- Low transaction fees and relatively fast block times (1 minute)
- Strong online community and celebrity attention, especially from Elon Musk’s social media posts
Dogecoin’s price is highly sensitive to social media trends and celebrity comments, making it one of the more volatile assets in the crypto space.
Is It Legal to Buy Dogecoin in India?
Yes, buying Dogecoin is legal in India. DOGE is classified as a Virtual Digital Asset (VDA) under the Finance Act 2022.
- Gains from DOGE are taxed at 30%
- A 1% TDS applies on qualifying transactions
- Losses cannot be offset against gains from other crypto assets
Consult a qualified tax professional for advice specific to your situation. Tax rules are subject to change.
What You Need Before Buying Dogecoin in India
FIU-IND Registered Exchange
Use an exchange registered with the Financial Intelligence Unit, India. ZebPay is FIU-IND registered and supports DOGE trading with INR.
KYC Documents
PAN card, Aadhaar card, and selfie.
INR Funds
Deposit via UPI, NEFT, or IMPS on ZebPay.
How to Buy Dogecoin on ZebPay: Step-by-Step
Step 1: Download the ZebPay App
Get it from the Google Play Store or Apple App Store.
Step 2: Register and Complete KYC
Sign up with your mobile number and complete KYC by uploading PAN, Aadhaar, and a selfie.
Step 3: Deposit INR
Navigate to Wallet and deposit using UPI, NEFT, or IMPS.
Step 4: Search for DOGE
In Markets, search for DOGE or Dogecoin.
Step 5: Enter Amount and Buy
Enter your INR amount or DOGE units and confirm via Quick Trade.
Step 6: View Your Holdings
Your DOGE will appear in your Portfolio after the purchase.
Dogecoin Price in India
DOGE’s price in INR reflects its global USD price converted at the current exchange rate. Unlike Bitcoin or Ethereum, DOGE has an unlimited supply, which can create long-term selling pressure. Its price has historically been influenced by social media trends more than fundamentals.
You can buy a fraction of DOGE with as little as ₹100 on ZebPay.
Dogecoin vs Bitcoin: Key Differences
| Feature | Dogecoin | Bitcoin |
|---|---|---|
| Launch Year | 2013 | 2009 |
| Supply | Unlimited | Capped at 21 million |
| Block Time | 1 minute | ~10 minutes |
| Primary Use | Payments, community | Store of value |
| Price Drivers | Social media, memes | Institutional demand, scarcity |
Risks of Buying Dogecoin in India
High Volatility: DOGE’s price is extremely volatile and heavily influenced by social media. A single tweet or post can move the price significantly in either direction.
Unlimited Supply: Unlike Bitcoin, Dogecoin has no supply cap. Approximately 5 billion new DOGE are created every year, which can dilute value over time.
Speculative Nature: Dogecoin’s price is largely driven by sentiment and community activity rather than underlying utility or revenue.
Social Media Risk: If public attention shifts away, DOGE’s price can decline sharply and quickly.
Past performance does not guarantee future results. Always conduct your own research before investing.
Frequently Asked Questions About Buying Dogecoin in India
What is the minimum amount to buy DOGE on ZebPay?
You can buy DOGE with as little as ₹100. Always conduct your own research before investing.
Is Dogecoin a good investment?
Dogecoin is a highly speculative asset. Its price is driven largely by sentiment rather than fundamentals. It has delivered significant gains in certain periods but also large losses. Past performance does not guarantee future results. This is not financial advice.
Do I pay tax on DOGE profits in India?
Yes. Gains from selling DOGE are taxed at 30%. A 1% TDS applies on qualifying transactions. Consult a qualified tax professional for advice specific to your situation.
Does Dogecoin have any real use case?
Dogecoin is used for tipping online, small payments, and community activities. Some merchants accept DOGE. However, its primary value driver in recent years has been speculative interest.
How do I sell Dogecoin on ZebPay?
Go to Portfolio, select DOGE, and place a sell order. Your INR proceeds will be credited to your wallet.
Can I set up a SIP for Dogecoin on ZebPay?
Yes, ZebPay’s crypto SIP lets you automate regular DOGE purchases. This can help manage the high price volatility through regular, fixed-amount investing.
Is Dogecoin the same as Shiba Inu?
No. Dogecoin (DOGE) and Shiba Inu (SHIB) are separate cryptocurrencies, though both started as meme coins. SHIB runs on the Ethereum blockchain, while DOGE has its own blockchain.
Final Thoughts
Dogecoin is one of the most popular and well-known cryptocurrencies globally. Buying it in India through a regulated exchange like ZebPay is straightforward. However, DOGE is a highly speculative asset with no supply cap and price movements driven primarily by social media sentiment.
If you choose to buy DOGE, invest only what you can afford to lose completely, keep records for your ITR filing, and do not invest based on hype alone.
Get started today and join 6 million+ registered users exploring crypto investing on ZebPay!
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The information in this article is for educational purposes only and does not constitute financial or investment advice.
