How to buy Dogecoin: 8 ways to buy DOGE | Finder Canada

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How to buy Dogecoin (DOGE)

A beginner’s guide to buying and selling DOGE in Canada.

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Dogecoin (DOGE) is a decentralized, peer-to-peer cryptocurrency that’s similar to Bitcoin (BTC) and Litecoin (LTC). What started out as a joke has grown into one of the most widely traded cryptocurrencies in the world with a market capitalization of more than $10 billion as of April 2021.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
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Quick guide: How to buy DOGE

  1. Register for an account with a cryptocurrency exchange like Coinsquare.
  2. Verify your identity with Coinsquare.
  3. Make a deposit using one of the available payment options.
  4. Click on “Markets.”
  5. Select the logo of the cryptocurrency you want to buy.
  6. Enter the amount you want to buy.
  7. Place a market order.
Go to Coinsquare's site

This is our quick guide to just one way to buy DOGE. Compare some other options in the table below.

Where to buy DOGE in Canada

Dogecoin is available to buy, sell and trade on many exchanges. To find the best fit for your needs, compare exchanges by deposit methods, fiat currency support and more. When you’re ready to trade Dogecoin, click Go to site on the exchange of your choice:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
NDAX Cryptocurrency Exchange
Bank transfer (ACH)
CAD

10
cryptocurrencies

Get a $10 bonus when you open an account and deposit at least CAD$100. T&Cs apply.
NDAX is a Canada-based digital asset exchange with CAD currency pairs and with options for advanced traders.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

67
cryptocurrencies

Finder Exclusive: Get 0% fees on credit/debit card purchases for 30 days after signup.
Buy 80+ cryptocurrencies, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Coinsquare Cryptocurrency Exchange
Interac e-Transfer, Wire transfer, Wealth Wire, Rushed Wire, Direct Bank Deposit
CAD, USD, EUR, GBP, CHF

10
cryptocurrencies

Finder exclusive: Get a $10 bonus when you deposit at least CAD$100. T&Cs apply.
Trade some of the most popular cryptocurrencies with competitive fees on this intuitively designed Canadian exchange.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire
USD, EUR, GBP, JPY

164
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Indacoin Cryptocurrency Exchange
Credit card
USD, EUR, RUB

158
cryptocurrencies

Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.
OKEx Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

269
cryptocurrencies

Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

219
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Bitit Cryptocurrency Marketplace
Bank transfer, Cashlib, Credit card, Neosurf, SEPA
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
ShapeShift Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Banxa
-

51
cryptocurrencies

Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.
CoinSwitch Cryptocurrency Exchange
Credit card
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
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Compare up to 4 providers

Buy Dogecoin in 3 steps

Set up an account with an exchange that supports Dogecoin in three steps.

Step 1. Create an account on an exchange that supports DOGE

Look for an exchange that lists DOGE in one or more currency pairings, and sign up with your email address and a password.

  • Note: Many exchanges also require your full name, contact information and proof of ID before allowing you to trade.

Step 2. Deposit funds into your account

If your exchange supports Dogecoin you’ll be able to buy DOGE directly with Canadian dollars (CAD).

  • Note: Some payment methods have higher fees, with credit card payments usually being the most expensive.

Step 3. Buy DOGE

Navigate to the markets section on your chosen exchange to find your desired DOGE pairing. Look for the section on buying DOGE, and type in the amount of the paired cryptocurrency you want to spend or the amount of DOGE you want to buy.

  • Note: Carefully review your transaction details — including the amount of DOGE you’re buying and the total cost of the purchase — before completing the transaction.

How to sell DOGE

If you want to sell your DOGE holdings, you can do so by following a similar process to that outlined in Step 3. You’ll obviously need to look for the “Sell DOGE” link, while it’s also worth remembering that you may not be able to directly exchange DOGE for the currency you want to acquire.

Which wallets can I use to hold DOGE?

Unless you’re looking to place a trade, storing cryptocurrency in an account on an exchange is not recommended. Instead, it’s generally much safer to store your DOGE in a secure wallet.

You can check out a list of the best Dogecoin wallets for a place to get started.

How DOGE works

Founded in 2013 by Australian Jackson Palmer and IBM software developer Billy Markus, Dogecoin started life as a joke. In a January 2018 article in the Sydney Morning Herald, Palmer explained that the idea for Dogecoin started from a light-hearted tweet criticizing the rapid rise of “scammy” altcoins at the time. Dogecoin takes its name from the immensely popular (in 2013) viral “doge” memes. Its mascot, which features heavily on the Dogecoin website, is a Shiba Inu.

However, behind all the fun and games of Dogecoin lies a very popular cryptocurrency. Designed to offer fast and affordable online transactions, this open-source digital currency can be used as a form of payment for goods and services, a vehicle to trade for other currencies and a way to “tip” other Internet users who create or share popular content.

Based on the LuckyCoin protocol, a fork of Litecoin, Dogecoin uses the Scrypt encryption algorithm. Dogecoin was instantly popular in the crypto community, and within two months of its launch, it had a market capitalization of $74 million. DOGE’s value has experienced several rises and falls since then, reaching its all time high in January 2018 with a market cap of more than $2 billion and a price of $0.017359.

Find out more about Dogecoin in our complete guide.

Key things to consider if you’re thinking about buying DOGE

All cryptocurrencies are complicated and highly speculative, and there are many factors that can affect their value. It’s essential to be fully aware of all the risks associated with cryptocurrencies before making a purchase.

If you’re thinking of buying any Dogecoin, make sure you consider the following factors first:

  • Availability. One of the key factors that affects the popularity of a cryptocurrency is its availability. Dogecoin is listed on a wide range of cryptocurrency exchanges, making it relatively accessible in comparison to more obscure coins for anyone thinking of buying.
  • Community support. Dogecoin is something of a legend in cryptocurrency circles and is supported by a vibrant and active community, as shown by its active Reddit page. This support has seen Dogecoin survive since 2013, which is a very long time in the world of digital currency.
  • Joke or not? Dogecoin started life as a joke, and a quick visit to the coin’s website is enough to reveal that this currency doesn’t take itself too seriously. This has been a key factor in its survival and success. However, if you’re looking for a coin to buy and hold in the hope of achieving long-term profits, you’ll need to consider whether DOGE fits with your cryptocurrency strategy.
  • Future development. As for what the future may hold for Dogecoin, it’s worth considering what the coin’s co-founder, Jackson Palmer, said in an interview with CoinDesk in March 2017: “New features aren’t being implemented into Dogecoin because there’s no active development anymore. Eventually, it will become outdated. And with that, the network will organically wind down.” Palmer left the Dogecoin team in 2015, but this does raise important questions about the longevity of the currency.

By researching all the important information you can find about Dogecoin and considering the above factors, you’ll be in a much better position to decide whether or not to buy DOGE.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.

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