Dogecoin (DOGE) is a top ten cryptocurrency in Canada. Created in 2013 as a light-hearted alternative to bitcoin and other cryptocurrencies, Dogecoin skyrocketed up the crypto rankings after Tesla CEO Elon Musk tweeted that DOGE is his favourite coin.
With its unlimited supply, Dogecoin could be useful as a currency, and it is still a favourite amongst meme-lovers. Dogecoin’s price one year ago was $0.53 and today it stands at $0.11. Elon Musk has power over Dogecoin, with a mere mention of it, the price often rises. For this reason, Dogecoin is a popular investment for Canadians. Being a crypto investor on my own, I invested over $10000 in DOGE in 2019 and it paid off.
There are many Canadian crypto exchanges where you can buy Dogecoin easily and cheaply and in this article we’ve listed some of the most popular places to buy DOGE.
Disclaimer: All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only. When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider.
How to Buy Dogecoin in Canada
To buy Dogecoin in Canada you must first sign up to a crypto exchange that offers it, e.g. Coinsmart. All you need to do is create an account and pass the verification process by uploading your identification documents and a selfie. After that, you will be able to buy DOGE.
Where to Buy Dogecoin in Canada
Below we have listed some of the best crypto exchanges in Canada to buy Dogecoin based on ease of use, reputation and cost.
Coinsmart is a Canadian crypto exchange that offers an easy way for Canadians to buy Dogecoin. It is simple to use and offers some of the most popular cryptocurrencies on the market. With Coinsmart you can get verified the same day you sign up, plus you can trade crypto to crypto, meaning you can trade DOGE against any other crypto they have available. Coinsmart offers Interac e-Transfer deposits with only a 1% fee for deposits less than $2000. Trading incurs a 0.2% fee, which is much lower than some other exchanges, and withdrawals have a 1% fee. Coinsmart is a popular crypto exchange for beginners because it is simple to use for buying DOGE.
You can sign up here and claim free $20 in bitcoin.
Bitbuy is one of the most reputable crypto exchanges in Canada. It offers very low fees at just 0.1%/0.2% trading fees. Plus, you can easily deposit Canadian dollars using Interac e-Transfer that has a 1.5% fee. Bitbuy is suitable for beginners and more advanced traders with its Express and Pro platforms. The Pro platform offers advanced trading options, charting and order book data. With its simple interface, low fees, and high reputation, Bitbuy is one of the best places you can buy DOGE in Canada.
You can sign up here and claim free $20.
Newton is a Canadian crypto exchange that has a beginner-friendly interface making it easy to buy DOGE. Newton does not charge fees, so deposits and withdrawals are free, however it does have a slightly higher spread than some other crypto exchanges. With that said, Newton is still a good place to buy Dogecoin in Canada due to its ease of use. You can deposit funds using Interac e-Transfer, and deposits are fast so you can buy DOGE quickly. Newton is fast becoming one of Canada’s top crypto exchanges for beginners.
You can sign up here and claim free $25.
Wealthsimple Crypto is the perfect place to buy Dogecoin in Canada if you also invest in the stock market and prefer to keep your investments in one place. It is easy to buy Dogecoin using Wealthsimple and you may be eligible for instant deposits, where you can fund your account immediately without having to wait for funds to clear. Wealthsimple does charge a higher fee than most exchanges (about 1.5% to 2% spread) since it is a broker, but deposits and withdrawals are free. However, Wealthsimple has a reputation as being one of the best places to trade stocks and crypto, plus it is insured so your funds will be safe here.
You can sign up here and claim free $50.
NDAX is an easy-to-use Canadian crypto exchange. If you would like to buy DOGE on NDAX, simply deposit Canadian dollars via Interac e-Transfer for free. NDAX is a reputable and secure exchange so you can purchase DOGE with peace of mind. NDAX has good customer service reviews and it is beginner-friendly. Not only that, but fees are relatively cheap with its fixed 0.2% buy and sell fee. Fiat withdrawals cost $25. NDAX is becoming a favourite exchange amongst Canadians due to its low fees, excellent customer service and easy to use platform.
You can sign up here and claim free $50.
Crypto.com is a popular global exchange with customers all over the world. Crypto.com offers staking, Visa cards, and a wide range of cryptocurrencies including Dogecoin. You can fund your fiat wallet with Canadian dollars by using Interac e-Transfer, which makes it easy to buy Dogecoin for Canadians. Crypto.com has slightly higher fees than other crypto exchanges, but it is fast becoming one of the more popular exchanges in the world and is highly reputable. If you’d prefer lower fees and don’t mind a more advanced trading tool, then we recommend using Crypto.com’s exchange rather than the app.
How to Keep Dogecoin Safe and Secure in Canada?
After you buy Dogecoin, it’s important to keep it safe and secure, so no one can steal it. Keep your Dogecoin token safe by creating a private wallet. There are many to choose from and you can create a wallet on your phone, computer, or buy a hardware wallet instead. Crypto exchanges are vulnerable to hacks, which means there is a chance your Dogecoin could be stolen. While most reputable crypto exchanges will have insurance, it is not guaranteed that you will receive your funds back. It is always safest to move your funds to a private wallet, so long as you keep your private seed safe. We have reviewed several of the best crypto wallets in Canada for you to choose from in our previous article.
How to Sell Dogecoin in Canada?
It is an easy process to sell Dogecoin in Canada. If you have signed up to a crypto exchange, it is best to use the same one to sell Dogecoin so you only need to go through the verification process once. Transfer your DOGE from your private wallet to the crypto exchange. Then, click “sell”. You will have the option to swap DOGE for another crypto or you can sell it for Canadian dollars. If you choose Canadian dollars, you can then “withdraw” to your linked bank account. Each exchange will have a similar process, but the layout may be different.
Dogecoin Canada FAQs
Can you buy DOGE in Canada?
Yes, you can buy DOGE in Canada. Dogecoin has become a popular investment for Canadians due to its popularity on the internet as a “meme coin”.
What is the best way and place to buy DOGE in Canada?
We suggest you buy DOGE using one of the cryptocurrency exchanges in this article, since they are safe and reputable. We recommend Bitbuy, Coinsmart, Wealthsimple Crypto, NDAX, Newton, or crypto.com.
How to trade DOGE in Canada?
You can trade DOGE in Canada using the crypto exchange you are signed up for. Each exchange will have different cryptocurrencies and trading pairs available, but you simply click “trade”, “swap” or “sell”, and you will see which cryptocurrencies you can swap DOGE for on that exchange.
Is DOGE a good investment for Canadians?
Dogecoin is a good investment for Canadians if you believe that it will have another pump sometime in the future. There is a chance that it will, since Dogecoin is almost 10 years old and is a top-ten cryptocurrency. It has therefore proven that it can survive bear markets, and with its popularity as the king of meme coins, there’s no doubt that Dogecoin will still be around in the next bull cycle. Unfortunately, Dogecoin does not have much utility. It simply exists as a meme, but there is not much use for it.