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How to Sell Dogecoin (DOGE)
Learn how to sell Dogecoin in 3 simple steps.
Where to sell Dogecoin in Canada
As long as you are in control of your private keys, you can sell your Dogecoin at any exchange you like. Look at our list of exchanges to see which one best meets your needs. You will want to compare exchanges based on deposit method and costs, fiat currencies supported and other associated fees.
Step by step guide to selling Dogecoin
- Register on a cryptocurrency exchange that lists Dogecoin. Research which exchange offers support for Dogecoin and register an account. Keep in mind that you will need to present government issued ID as well as an email address, a phone number and other information associated with your personal identity as part of their KYC process.
- Deposit DOGE into your account. Sign in to the exchange and copy your Dogecoin address to receive funds. Paste that address in your personal DOGE wallet, and click send. Remember to double-check the address or you might risk losing all your tokens.
- Sell Dogecoin. Once your Dogecoin has been successfully transferred to the exchange, you can sell it for Canadian dollars or another supported fiat currency.
How to choose the best way to sell Dogecoin?
How to sell your cryptocurrencies depends entirely on your personal circumstances. It’s important to do your own research and figure out what the best option is for you. Some exchanges are faster and more expensive, while other users might like to use p2p trading. What works for someone else might not be ideal for you. Start by asking yourself a few questions:
- Do I want to sell Dogecoin for fiat or another cryptocurrency?
- What fees and times am I comfortable with?
- How do I want to receive payment?
- What type of deposit does my bank allow?
When choosing a cryptocurrency exchange, be sure to consider the following:
- Price. Research which exchanges give you the best possible market price for Dogecoin.
- Fees. What are the exchange’s fees for depositing DOGE and for withdrawing fiat?
- Limits. Review what the trading and withdrawal limits are for both Dogecoin and the fiat currency you wish to pair it with.
- Security. What is the exchange’s reputation? Can you use 2-factor authentication or does it have any extra security measures in place?
- Customer support. Often overlooked, this can be extremely important when things go wrong. Also, remember to check its operating times.
- Reputation. Look for independent reviews and ask others their opinions about the exchanges you are looking into using.
Withdrawing funds after you sell Dogecoin
Storing funds on an exchange is bad practice in terms of security. Once you have sold your DOGE for a fiat currency, make sure to check what transfer options are available to withdraw those funds from the exchange. These may include the following:
- Bank transfer
- Credit/debit card
There are several factors you need to take into account when withdrawing your funds.
- Fees. These can add up over time, so try to withdraw as much of your funds as possible at one time rather than making a number of smaller withdrawals.
- Limits. Check if there are limits on the amount you can withdraw. Sometimes, platforms will let you withdraw higher amounts if you provide extra identifying information such as your home address.
- Processing times. It’s very important to know how long withdrawals take. In terms of bank transfers, it usually takes 3-5 business days. Credit and debit cards can be more expensive but can be much quicker.
Is now a good time to sell Dogecoin?
Although nobody can foresee the future, the market can be analyzed closely. See what the general trends are, how the token has moved during the past weeks and months and whether there are any upgrades coming soon as well as other similar factors. Use our in-depth technical analysis to get a better feel for the market and to make an informed decision.
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