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How to buy DigiByte (DGB) in Canada
Learn how to buy DigiByte (DGB) on 10+ crypto exchanges in our step-by-step guide.
DigiByte (DGB) is the 218th largest cryptocurrency by market cap, valued at US$154,576,148.
DigiByte is a highly volatile asset capable of major price swings in a single day. Today DGB is trading for $0.00959623 USD, which is higher than yesterday's trading price of $0.009555709 USD. Over the past year, DigiByte's price has seen a decrease of -61%.
So before you buy DigiByte, make sure you understand these unique risks as well as its legal and tax status here in Canada.
If you're ready to get started, read on for step-by-step instructions and a list of trading platforms like Binance you can use to buy DigiByte.
How to buy DigiByte in 4 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy DigiByte is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – cryptocurrency, debit card, simplex and credit card payments are widely accepted.
You can now exchange your funds for DigiByte. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your DigiByte to your personal wallet.
Where to buy DigiByte in Canada
Find an exchange to buy, sell and trade DGB by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
How we keep this DigiByte guide up-to-date
- DGB price data is regularly updated through data feeds so you always have the latest information.
- DigiByte performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.
- Key information on coins and how to buy them is regularly reviewed by our editorial team of James Edwards, Frank Corva and Billy Endres.
- Our coin coverage and exchange information is regularly reviewed by our publishing experts Louise Vinciguerra and Molly Wiltshire-Bridle.
How do I find the best places to buy DigiByte?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Canada to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy DigiByte?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading DigiByte.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing DGB with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy DigiByte?
Once you've created an account, you will need to deposit funds to buy DGB with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy DGB:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase DGB by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for DGB on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy DigiByte?
The easiest way to buy DGB is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying DGB, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of DigiByte has been performing recently.
Best DigiByte wallets to store your DGB
You can keep your DGB on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your DGB below.
Ledger Nano X Wallet
Trezor Model T Wallet
SafePal S1 Wallet
See more of the best crypto wallets
Is DigiByte a good investment?
Cryptocurrencies are highly speculative assets, so it is important to perform due diligence before investing. If you’re thinking of buying DGB, remember to consider the following:
- Competition. DigiByte is derived from Bitcoin and aims to achieve a very similar goal – blockchain-based secure payments. Although DigiByte intends to improve on the flaws of Bitcoin's blockchain, they still exist in the same market space, along with many other currency-focussed blockchains. Considering the market and social power of Bitcoin, DigiByte may struggle with adoption due to its tough competition.
- 5 mining algorithms. Having five separate mining algorithms could be helpful for DigiByte miners and might offer some extra security against outside attacks. A key feature of this mining setup is to prevent application-specific integrated circuits (essentially crypto mining machines) from hoarding too much power.
- DigiAssets. DigiByte began as a predominantly payments-oriented network, but it has since expanded into decentralised applications. DigiAssets is a layer that exists atop the Digibyte blockchain which is responsible for hosting applications and executing smart contracts.
Additional information about DigiByte can be found using our DGB analysis tools.
Today's DigiByte price versus ATH
Compare today's price of DigiByte ($0.00959623 USD) against its all-time-high price of $0.178084 USD on 01 May 2021. The closer the bar is to 100%, the closer DGB is to reaching its ATH again.
ATH date: May 01, 2021
DigiByte ATH: $0.178084
How to trade, convert or sell DigiByteYou can convert or sell your DGB with the same exchange you bought it through:
- Sign in to the exchange you have DGB on.
- If you store your DigiByte in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of DGB you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of DigiByte.
- Complete your transaction and move your DGB to a wallet for storage.
Get started with crypto
Crypto exchanges and wallets
Learn how to buy other cryptos
Disclaimer: Cryptocurrencies, including DigiByte, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of DGB is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the DigiByte or any other cryptocurrency discussed.
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