As Dogecoin has grown in popularity, many fans of the crypto coin having been hoping platforms would make it more accessible. Now, the popular crypto platform Coinbase has announced that users can trade Dogecoin on the platform.

Coinbase Now Lets You Trade Dogecoin

Popular crypto site Coinbase announced in a blog post that from June 3 users can trade Dogecoin on the platform. Dogecoin is only available for Coinbase Pro users, so you'll need the Pro account if you want to trade Dogecoin.

For the time being, Coinbase will only allow transfers into an account with Dogecoin rather than purchasing it. The platform will allow traders to purchase the coin from normal currency once a sufficient amount of Dogecoin is available for trades.

However, Coinbase warned that it may halt trading if Dogecoin "does not meet our assessment for a healthy and orderly market". Given that Dogecoin has proven to be an extremely volatile crypto coin, it's best to keep this in mind.

With this news, Dogecoin will become accessible for mainstream crypto traders on one of the largest platforms. Previously, users would have needed to go through crypto exchanges to purchase the coin.

What Is Dogecoin

Dogecoin is a cryptocurrency that was established back in 2013. The coin was initially intended as a bit of a joke, and a crypto coin that would appeal to a broader demographic. However, in 2020, internet users did what internet users do best, and Dogecoin became an internet meme.

Read More: What Is Dogecoin and Why Is Elon Musk So Interested In It?

Industry experts have criticized the coin for its high market capitalization and popularity, with many believing the coin has been massively over-valued. Dogecoin fans vehemently dispute this claim, and the coin has continued to rise in value.

After attracting attention on social media platforms such as Twitter and TikTok, people set the goal of Dogecoin achieving a coin value of $1. Many celebrities, such as Elon Musk, have also notably supported the coin.

Dogecoin has continued to reach all-time highs, and has grown roughly 13,600 percent in the past year. It seems as though the crypto coin won't be going anywhere soon, so could potentially continue to grow.

Coinbase Brings Dogecoin Mainstream for Crypto Traders

Coinbase has brought Dogecoin to the mainstream traders. Without needing to visit crypto exchanges, traders can purchase Dogecoin much more easily. Also, non-experts can now trade the coin more easily, which could encourage beginners to invest in Dogecoin.