eToro launches Dogecoin trading

According to an eToro representative, the Dogecoin currency stems from social media. There is no upper limit to how many DOGE tokens can be mined. The Dogecoin is currently at EUR 0.32, compared to April 2020, when it was worth EUR 0.000017. The Dogecoin currency ($DOGE) can be traded in two ways on eToro.

Users can either purchase and trade the tokens on eToro, or trade derivatives based on the underlying cryptocurrency price. Depending on local regulations in a customer's country of residence, they can do one or both on the platform. Users must choose whether to buy (go long) the stock, meaning they expect the value of Dogecoin to increase, or sell (go short) it, meaning a customer expects the value to decrease.