As the epitome of “TradFi,” New York hasn’t been so keen on the “crypto revolution.”

And, honestly, could you blame NY regulators? 

Most of the world’s biggest banks still have their headquarters in NYC. 

Plus, it’s no secret how Jamie Dimon feels about Bitcoin. 

While buying big-name cryptos in the Empire State is getting easier, New Yorkers have limited options.

Not only are the number of approved exchanges fewer, but there also aren’t as many coins on offer.

One altcoin New Yorkers still have questions about is the ever-popular pooch Dogecoin. 

As Elon Musk’s favorite crypto went “to the moon,” folks in New York weren’t sure whether they could legally buy it. 

Heck, many people still don’t know if Dogecoin is legit in New York. 

New York may not be the most convenient state to buy Dogecoin, but I’ve found a few ways locals could safely invest in this crypto. 

So, if you’ve ever wondered how to buy Dogecoin in New York, you’ve got to check out the info below. 

What Is A BitLicense? — A Brief Overview Of New York’s Crypto Laws

Before I go over how to buy Dogecoin in New York, you may be wondering why it’s so dang difficult to get crypto in this state.

To understand this, let’s take a quick trip back in time.

In 2015, New York unveiled its “BitLicense” procedure for crypto businesses.

To this day, businesses involved in buying and selling cryptos must meet New York’s high standards for a BitLicense.

Even after a company successfully gets a BitLicense, they need to work closely with regulators to ensure everything is on the up-and-up.

Any crypto exchange that wants to work in NY needs to have stringent screening procedures for customers, as well as consumer protection and anti-money laundering policies. 

Plus, it’s expensive to apply for a BitLicense.

Like $100,000 expensive. 

On the pro side, New Yorkers could rest assured the exchanges in their state meet high standards for transparency. 

On the negative side, this policy drove a lot of crypto businesses out of the Empire State.

For instance, shortly after BitLicense went into effect, the crypto exchange Kraken “escaped” from New York.

There are, however, businesses that have successfully jumped through all the BitLicense hoops. 

Whether or not you approve of BitLicense, it’s essential to know this is why New Yorkers have a tougher time getting crypto. 

Why Is Everyone “Barking Mad” About Dogecoin? — DOGE 101

People call Dogecoin a lot of nicknames.

For some, this coin is just a “joke;” for others, it represents a “revolution.”

Call it what you will, Dogecoin is arguably the most hyped crypto in recent memory. 

As you’ve probably heard by now, engineers Jackson Palmer and Billy Markus created Dogecoin as a joke in 2013.

Like Bitcoin, Dogecoin uses Proof of Work to solve algorithmic problems and mint new Dogecoins. 

Unlike Bitcoin, DOGE has never taken itself too seriously. 

For crying out loud, this coin has a Shiba Inu meme as its logo!

Indeed, for most of Dogecoin’s history, people only used it for tipping and a few notable fundraisers. 

Also, Dogecoin’s price was well below one penny for years. 

Then Elon Musk happened.

For some reason, Tesla’s CEO took a liking to Dogecoin, and the rest is history.

In mid-2021, Dogecoin went on an insane run-up fueled by media hype, Twitter posts, and the easier accessibility on Robinhood. 

Even though Dogecoin has fallen from its all-time highs, it has established itself as, well, a “top dog” in the crypto market. 

However, new investors should never forget that Dogecoin has no supply cap.

There’s also no talk of a serious “use case” for Dogecoin. 

Sure, a few vendors like the Dallas Mavericks love Dogecoin, but it’s still not widely accepted. 

Lastly, please know that Dogecoin uses the same mining algorithm used to secure the Litecoin network.

So, if something goes wrong with Litecoin, it will take DOGE with it. 

Investors should always keep these risks in mind before throwing money into DOGE.

How Could You Buy Dogecoin In New York?

The safest and simplest way to buy Dogecoin in New York is to work with one of the following exchanges:

• Coinbase
• Gemini

These crypto exchanges are American-based, highly regulated, and incredibly secure.

They also meet New York’s requirements for crypto businesses.

Now that Dogecoin is large-cap crypto, Coinbase and Gemini offer it for trading. 

Whichever exchange you choose, please remember you’ll need to provide KYC when signing up.

This means you’ll need to upload a government-issued photo ID, social security number, and contact information. 

As long as you’re comfortable handing over this info, you could link your bank to these exchanges and buy some Dogecoin.  

FYI: Gemini gets extra props because it’s headquartered in New York.

This doesn’t mean you can’t use Coinbase, but many New Yorkers feel better knowing their exchange has a local headquarters. 

If you don’t know which of these exchanges to choose, please read my recent comparison article “Gemini vs. Coinbase.” 

Wait, Can’t You Buy Dogecoin On Robinhood In New York?

Yes, it’s legal to download the Robinhood app and buy Dogecoin, but I wouldn’t recommend it. 

Why?

Because you don’t really “own” your Dogecoin on Robinhood.

Let me explain.

When you buy a cryptocurrency on Robinhood, the company holds your private keys. That means you can’t transfer your Bitcoin, Ethereum, or Dogecoin out of Robinhood into an external wallet. 

So, if you buy Dogecoins on Robinhood, you’re getting an IOU that they’ll keep them safe for you.

Of course, people who merely want to speculate on Dogecoin’s price may not have an issue with this feature.

Just know ahead of time that you can’t transfer your Dogecoin out of Robinhood if you choose to buy it there.

While Robinhood has hinted about creating a crypto wallet, you could already self-custody your Dogecoin by taking it off of Coinbase or Gemini. 

Could You Buy Dogecoin With PayPal In New York? 

As I mentioned in my post “How To Buy XRP with PayPal,” you can’t buy a ton of cryptos directly on PayPal.

Currently, PayPal only offers the following coins:

• Bitcoin
• Ethereum 
• Litecoin
• Bitcoin Cash

Also, just like Robinhood, you can’t transfer any of these coins out of PayPal when you want to put them in a private wallet.

However, there is an indirect way you could use PayPal to buy Dogecoin.

First, you have to download a Coinbase account.

Once you’re set up on Coinbase, you can connect your PayPal wallet and deposit money. 

Now, you could seamlessly use your PayPal account to buy cryptos on Coinbase. 

Just keep in mind that you’ll get whacked with a higher trading fee for using this feature.

While this method is super convenient, it’s not the most cost-effective option. 

For those most interested in saving on fees, I’d recommend researching Coinbase Pro. 

This advanced trading platform isn’t as user-friendly as regular Coinbase, but it has significantly lower fees.

The same could be said about Gemini’s “Advanced Trader” feature.

Still, if you want a no-fuss experience, then you could use PayPal to buy DOGE via Coinbase. 

Please follow this link if you don’t already have a Coinbase account.

What’s The Best Way To Store Dogecoin In New York?

Now that DOGE is such a big deal, pretty much every external wallet supports this coin.

If you want to transfer your Dogecoin out of Coinbase or Gemini quickly, consider downloading one of these popular software wallets:

• Trust Wallet 
• Atomic Wallet 
• Coinbase Wallet 
• Crypto.com DeFi Wallet

Each of these wallets is highly rated, free, and supports Dogecoin.

Here’s a step by step Trust Wallet guide:

For extra security, you could store your Dogecoin in a cold wallet.

These hardware devices keep your private keys off the Internet, so there’s no risk of a hack.

Ledger, Shapeshift, and Trezor offers some of the most trusted hardware wallets in the crypto industry.

Could You Buy Other Hot Meme Coins In New York? 

After Dogecoin shot up in mid-2021, countless copy-cats (or copy dogs?) entered the crypto-sphere. 

Of these many coins, only one has garnered a lot of mainstream attention:

Shiba Inu (ticker: SHIB).

If you’re interested in getting Shiba Inu, here’s a step by step tutorial:

Amazingly, this Ethereum-based token dethroned Dogecoin a few times in recent months. 

As the “SHIB army” grows, it’s getting easier for New Yorkers to invest in this rival meme coin.

Indeed, you could find SHIB on exchanges like Gemini and Coinbase.

However, if you’re interested in more obscure (and potentially scammy) meme coins, you aren’t going to find them easily in New York.

Most often, you’ll see these lower-tier coins on decentralized exchanges (DEXs) like Uniswap or Pancake Swap.

In fact, I wrote a whole review on “How To Buy Floki Inu” where I detailed how to use DEXs to buy this low-cap “DOGE killer.” 

It may not be “technically” legal to buy these tiny altcoins like Telcoin in New York, but you could do so on DEXs.

Just remember that the meme coin market is rife with scammers.

Be extra careful about investing your hard-earned money in these high-risk projects. 

How To Buy Dogecoin In New York — Stick With The Trusted Exchanges

While the Empire State isn’t the most forgiving on crypto projects, it’s starting to open up to crypto. 

And that includes DOGE.

Had Dogecoin not gone up by thousands of percentage points, it may still be difficult to buy Dogecoin in New York.

However, there’s no more denying Dogecoin’s presence in the crypto-verse. 

The more people wanted Dogecoin, the easier it became to find it on exchanges.

This includes big-name companies like Coinbase and Gemini, both of which operate in New York.

While there are other ways you could buy Dogecoin in New York, the safest method is to use one of these trusted exchanges.

Given New York’s strict stance on crypto, I wouldn’t advise dabbling with exchanges that have a fuzzy history. 

If you want the coin everybody’s been “barking” about, stick with the pros at Gemini and Coinbase.