Are you looking to buy Dogecoin in Canada? So you came to the right place. Here you can read the best and effective ways to purchase Dogecoin in Canada.
In 2021, Dogecoin, the cryptocurrency that began as a joke, took over the airwaves.
This year alone, the cryptocurrency has surged more than 14,000%, owing to a dedicated internet community and celebrities like Elon Musk.
While the future of Dogecoin is uncertain, a few people who got in early have profited.
As usual, be extremely cautious when investing in cryptocurrencies because you might lose all of your money.
Table of Contents
What is Dogecoin?
In 2013, Billy Markus and Jackson Palmer launched Dogecoin, a digital currency featuring a Shiba Inu as its logo. It was created as a joke at first.
The open-source, peer-to-peer digital currency has no limit on the number that may exist, and DOGE’s supply currently stands at more than 130 billion.
The Dogecoin blockchain, like the Bitcoin blockchain, uses a proof-of-work consensus. It consumes less mining power because it utilizes Scrypt technology, as opposed to SHA-256.
Some have compared Dogecoin’s skyrocketing price in 2021 to a “pump and dump” scheme.
Dogecoin has a limited use case in comparison to Ethereum and Bitcoin.
How To Buy Dogecoin in Canada
There are two primary ways to get Dogecoin in Canada.
The first approach is to buy the altcoin with fiat directly from a cryptocurrency exchange that supports it, such as NDAX, Wealthsimple Crypto, or Binance.
Another alternative is to acquire a popular digital currency like Bitcoin or a stable coin like USDT (Tether) or USDC (USD Coin) and trade them for Dogecoin on another platform.
Alternatively, you may mine Dogecoin on your Windows or Mac PC if you are tech-savvy.
Where To Buy Dogecoin In Canada
Here are some of the best crypto exchanges in Canada that support buying Dogecoin (DOGE):
NDAX
The National Digital Asset Exchange (NDAX) is a cryptocurrency exchange based in Calgary, Canada, launched in 2017. It’s one of several Canadian crypto exchanges that offer Dogecoin trading.
- NDAX supports 16 distinct cryptocurrencies, including DOGE, ETH, BTC, ADA, XRP, LTC, XLM, DOT, USDT (U.S. Dollar To Thai Baht), EOS (Ethereum-Based Token), AAVE (Aave is an Ethereum-based token that aims to be a generic exchange platform.), UNI (UniCoin is one of the most successful alternate digital currencies used in Thailand.), COMP.
- Canadians can now purchase European web wallets for fiat currencies.
- There are various options for purchasing Dogecoin with Interac e-transfer, wire transfer, bank draft, and cryptocurrency deposits.
- The trading fee of Dogecoin is 0.20%.
- Reward: After you open an account and deposit $100 or more, you’ll get a $10 bonus.
Newton
The Newton crypto exchanger, based in Toronto, allows you to purchase, sell, and exchange 26 different cryptocurrencies, including Dogecoin.
- Twenty-six different types of cryptocurrencies are supported, including DOGE, USDT, XRP, BTC, QCAD, XLM, BCH, LTC, ETH, ADA, CRV, AXS.
- Canadian dollars are accepted.
- You can make payments with e-Transfer, EFT, and wire transfer.
- The price spread is dependent on the trader’s fee, which ranges from 0.50% to 0.70%.
- Reward: Get a $25 cash bonus (S1W78J promo code applied automatically) after trading at least $100 in cryptocurrency.
Wealthsimple Crypto
Dogecoin is one of the many cryptocurrencies available through Wealthsimple Crypto. You can’t shift your virtual assets from this platform to a personal cold wallet as you can with other services.
- Compatible cryptocurrencies: 20 distinct types such as DOGE, BTC, ETH, LTC, COMP, MATIC, UNI, DOT, AAVE, MKR, CRV, BCH, YFI, and KNC.
- Canadian dollars are accepted.
- Electronic fund transfer is one way for Payment.
- Trade fees range from 1.5 to 2 percent, with no transaction costs for deposits or withdrawals.
- Reward: After trading at least $150 in cryptocurrency, you’ll get a $50 bonus.
Crypto.com
Crypto.com is another Canadian-based exchange that offers more than 100 digital assets, similar to Binance.
Staking is also available on the Crypto.org platform, which functions as a wallet and exchange for cryptocurrencies. It also allows you to stake your tokens, and it has its native coin, Crypto.org Coin or CRO (Crypto.org Coin).
- It supported digital coins: 100+ including a DOGE/BTC pair.
- Supported currencies are CAD and EUR.
- Payment Option: Bank transfer.
- Trading fees: Depends on account level; begins at 0.40%.
- Reward: After staking enough CRO for a Ruby card or more, you may earn a $25 bonus.
Binance
Binance is the world’s largest cryptocurrency exchange. The Binance, like NDAX, is a simplified platform for novices. If you’re new to a full-fledged trading platform, It might be overwhelming because it’s so large.
Keep in mind that this crypto exchanger is not available to residents of Ontario.
- More than 200 coins, including Dogecoin pairings, are supported.
- Fiat currencies supported: USD, EUR, CAD, CHF, JPY, AUD, and various other currencies.
- Credit cards, debit cards, bank transfers, P2P, and third-party payments are some of the payment methods available.
- For the spot market, the trading fee starts at 0.10%; varies with account level.
- Rewards: Get a 10% commission discount.
Coinsquare
Coinsquare is a Canadian digital money exchange that was established in 2014 and is located in Toronto.
- It supports Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, XRP, ETC, and XLM.
- Fiat currencies supported are CAD and USD.
- Payment Options: Interac e-Transfer and bank wire.
- Fees for trading: 0.10% to 0.40%; withdrawal fees can reach 2%.
CoinSmart
CoinBase is a cryptocurrency exchange based in the U.S. It’s one of Canada’s most popular crypto trading platforms.
Coinsmart is a cryptocurrency exchange that was launched in 2018 and is based in Toronto. It’s optimized for both novice and expert traders.
- You can use 12 coins, including BTC, ETH, USDT, XRP, BCH, EOS, XLM, LTC.
- The Canadian dollar is accepted.
- Interac e-Transfer, bank draft, credit card, debit card, and SEPA are the payment alternatives.
- Trading fees range from 0.20% to 0.40%. Free deposits are available.
- Rewards: When you fund your account with $100, you’ll get a $20 bonus.
Conclusion
Dogecoin, the cryptocurrency that began as a joke between two software engineers and quickly became a meme throughout the internet, is now a real investment opportunity.
There are several ways to purchase and sell Dogecoin, However, investing in cryptocurrencies is risky, so only invest what you can afford to lose. Although things are not looking good for Dogecoins, they are certainly improving.
If you want to buy Dogecoin in Canada, I recommend using CoinSmart for its excellent security and simplicity. It also has the lowest trading costs in Canada, so If you are looking for a secure, cost-effective way to buy and sell crypto, CoinSmart is the place to go.