Where and How to Buy Dogecoin in Canada in 2023 December – Beginner’s Guide
In 2021, Dogecoin, a meme cryptocurrency based on the concept of memes and jokes, dominated the airwaves with its viral nature.
The coin gained over 14,000% before losing steam as a result of the commitment of a large online community and celebrities such as Elon Musk.
It has been a year since Dogecoin was launched, and a few people have made money off of it.
In this guide, you will learn how and where to buy Dogecoin. If this is your main idea, we invite you to read on.
Where to Buy Dogecoin in Canada – Step by Step Guide 2023
You might be wondering where you can buy Dogecoin if you live in Canada. You can find a list of the best ways to buy properties in Canada below, along with the best places to purchase them.
1. BitBuy: One of the most popular exchanges in Canada
Founded in 2014, Bitbuy is a leading cryptocurrency exchange in Canada. Bitbuy was launched in 2016 and is based in Toronto.
Unlike other cryptocurrency platforms, Bitbuy’s is designed for beginners as well as seasoned investors alike. Traders who are new to trading can make only one-click trades through its “Express Trade” platform, while more experienced traders have access to advanced charting and various order modes via its “Pro Trade” platform.
As a result, Bitbuy may be an option well worth considering if you are looking for the next Dogecoin digital asset or if you are interested in gaining experience in cryptocurrency trading in general.
|Crypto trading fee||1% to 1.50%|
|Withdrawal fee||1% to 1.50%|
- User-friendly Express Trade feature
- Pro Trade gives access to advanced charts and tools
- Extremely secure crypto exchange with BTC insurance
- Mobile app for iOS and Android
- Low trading fees of only 0.2% for Express Trade and 0.1%/0.2%
- Limited range of only 15 cryptocurrencies
- Only available in Canada and only CAD supported
- No live chat support
Your capital is at risk
2. Binance: Top-Rated Platform In Canada
Depending on which cryptocurrency you are looking for, you may be able to find it on Binance. There is a reason for this since this cryptocurrency exchange executes billions of dollars worth of transactions daily.
There are several small-cap coins on the list and hundreds of pairs. There are many tokens based on the ERC-20 standard, as well. Your credit/debit card may be accepted where you live, so there's nothing to lose.
However, it should be noted that after browsing the platform for a while, using some of its features, and getting some knowledge of how it works, it will be much easier to learn how to buy Dogecoin Malaysia on Binance over time. Payments are quite easy. Buying Crypto via the P2P market or using your bank account to link your Binance account and then buying Dogecoin through the exchange will load your account with funds.
As far as the fees are involved, they range from 3 to 4%. However, Binance's fees are extremely low compared to other exchanges. As an illustration, if you own Binance Coins (BNB) and you decide to use the platform, you will pay just 0.1%. Furthermore, Binance is a good choice for those who enjoy performing technical analyses since it is equipped with various charting options and order types.
Finally, you can even buy Dogecoin here if you live in Canada.
|Crypto trading fee||Commission, starting from 0.1%|
|Withdrawal fee||0.80 EUR (SEPA bank transfer)|
- An advanced charting platform with customizable indicators
- Hundreds of pairs of devices are supported
- Commission of 0.10 %
- Accepts fiat currency
- BNB users get discounted rates
- It has been proven that security measures work
- Support is only provided via tickets
- Debit/credit card deposits are subject to a 3.5% fee
Your capital is at risk
3. Coinbase: Large Cryptocurrency Exchange To Acquire Dogecoin In Canada
Coinbase is the most considerable cryptocurrency exchange in the world. Customers will have access to a wide range of trading pairs and a clear user interface.
Based in Wilmington, Delaware, Coinbase is the largest exchange for digital currencies in the United States. Coinbase's user interface is simple enough that even beginners can use it. However, experienced traders can also use Coinbase Pro.
Dogecoin is a popular cryptocurrency. The company also offers exchange and trading services. In addition, a business payment platform, custody services, and cryptocurrency COIN are available. Users can also buy Dogecoin Canada on the platform.
If you're looking for a simple and secure way to invest in Dogecoin and other cryptocurrencies, this platform is a good platform for you to consider if you want to do so. Whether you're a beginner or an advanced user, Coinbase wants to educate you and provide you with the knowledge you need to succeed throughout this process. That's why they have developed a series of articles highlighting different cryptocurrencies and ensuring that you have the necessary education and confidence to deal with crypto.
The process of investing in Dogecoin through Coinbase is quite simple and easy to follow. After creating your account, you can link your bank card and proceed to buy Dogecoin as soon as you have entered the quantity you wish to purchase.
|Crypto trading fee||Commission, starting from 0.50%|
|Withdrawal fee||1.49% to a bank account|
- New users, as well as experts, will find the interface easy to use.
- Transactions on Coinbase are one of the fastest in the world, and it is one of the most liquid exchanges
- Many altcoins are supported by Coinbase
- Balance requirements are low
- Complex Schedule of fees
- Trading on other platforms is more expensive
Your capital is at risk
4. WealthSimple: Make Investing Simple And Affordable With Smart Technology In Canada
Wealthsimple was founded in 2014 and managed over $4B in investments. Since CEO Michael Katchen in Canada, the company has expanded to the United Kingdom and the United States. There are 1.5 million users worldwide for Canada's largest robot advisor. The company offers a range of services, including Wealthsimple Trade, Wealthsimple Cash, and more. Robo-investing is what Wealthsimple Invest does.
An investor who uses robot investing has a completely hands-off relationship with their portfolio. Wealthsimple Invest picks all the ETFs (Exchange Traded Funds) for you (all of the funds in a Wealthsimple Invest portfolio are low-cost ETFs) and also rebalances your accounts when necessary.
Are you wondering if Wealthsimple is worth it? Then, we review Wealthsimple Invest and talk about its pros and cons.
|Crypto trading fee||Free|
- Canadian, American, and U.K. accounts.
- Excellent educational resources.
- Savings account with competitive interest.
- Tax loss harvesting.
- $0 to open account.
- Must disclose personal data very early in the account setup process.
- Algorithms follow generic buy-and-hold strategy.
- Limited choices in portfolio creation.
- Management fee of 0.5% is higher than average.
Your capital is at risk
5. Crypto.com: You Can Purchase Dogecoin In Canada
This company, Crypto.com, founded in 2008, is one of the fastest-growing cryptocurrency exchange companies in the world at the moment. Our website is one of the fastest and one of the most secure on the internet due to a highly skilled team of developers and a highly motivated marketing team. In addition to holding a portfolio of over 40 cryptocurrencies and stablecoins, IQD also holds a stablecoin staking program that boasts a return of 14% a year.
It is worth noting here that Crypto.com is one of the most ambitious platforms in our time on the basis of market capitalization, and with its CRO token, which has a market cap of 16.6 billion dollars, it fills the 12th spot in the list of digital coins.
Moreover, the company offers margin trading services derivatives trading services and is starting to venture into the NFT market as well. A minimum investment of $1 is the minimum amount required for transactions when using Crypto.com.
|Crypto trading fee||0.4% per trade|
- Supports a wide range of cryptocurrencies
- Competitive, transparent fees with discounts available
- Provide support for an ecosystem of cryptocurrencies
- Fees are higher unless you hold and use CRO
- Customer service is poor
- It can be difficult to navigate trading fee discounts
Your capital is at risk
What is Dogecoin?
Introduced in December 2013, Dogecoin is an open-source, peer-to-peer cryptocurrency that encourages social interaction. In the crypto era, Dogecoin was launched shortly after Bitcoin and Litecoin.
The original goal of Dogecoin was to create a more memorable cryptocurrency project to educate the general public on blockchain technology. Dogecoin, however, has become an icon due to its emergence in the internet-driven era of retail investors. A common meme coin logo in 2021 is the Shiba Inu.
Dogecoin uses similar technology to other cryptocurrencies such as Bitcoin. DOGE also introduces several improvements to Bitcoin's technology to improve speed and affordability.
Other cryptocurrencies also offer better, more innovative solutions that reduce transaction costs. The blockchain may not be revolutionary, but Dogecoin investors aren't counting on it either. Instead, members of the Doge Army are looking forward to the DOGE community.
Why Buy Dogecoin?
A joke, Dogecoin quickly became a hit. Thousands of users use it on Reddit, a popular social media platform. Furthermore, Dogecoin became more and more popular as an investment rather than a toy.
Despite this, a single Dogecoin was never valuable as there are more than 100 billion in circulation. Last year, Dogecoins were priced around $0.0025. However, the joke had waned.
Tesla and SpaceX founder Elon Musk mentioned Dogecoin in a tweet at the end of 2020. After that, the altcoin market became frenzied. Snoop Dog was among the celebrities who backed Dogecoin early in 2021.
Due to celebrity attention and the attention of Reddit traders, Dogecoin has recently reached a high of $0.087. In just a few months, the company gained over 3,00%. Unfortunately, there has been a significant drop in Dogecoin's price since then, falling to $0.051.
A long-term investment is probably not a smart decision. Dogecoin does not have fundamental value. Dogecoin has a massive supply without a cap, making it unlikely to catch up to Bitcoin in user adoption.
If you're looking to make a short-term investment, Dogecoin is a better choice. A tweet alone can result in a spike in the coin's value. Dogecoin is still at its highest all-time levels despite the joke having faded somewhatis.
As this review mentioned before dogecoin a good buy for a short term.
Boosting Dogecoin's popularity with a tweet or social media push is possible. Despite this, investing in Dogecoin is highly speculative, as there is no guarantee that it will succeed.
How Much Does It Cost to Buy Dogecoin in Canada?
To date, the price has been:
- A low price was offered for its launch in December 2013 to make it more accessible to the general public. Here is the price:
- In January 2014, DOGE had the highest trading volumes of any cryptocurrency.
- On January 7th, 2018, DOGE reached a record-breaking $0.017 during the crypto bubble.
- A short time later, Elon Musk tweeted 'One word: Doge,' and Doge became a huge success. It jumped 20% instantly.
In January 2021, DOGE's price jumped 800% in 24 hours, reaching $0.07 per unit. In April 2021, when Coinbase confirmed its listing for Dogecoin, the price surged along with the rest of the crypto sector. The peak of the Dogecoin price occurred in April and May 2021. Commentators were less than enthusiastic, however. Dogecoin's recent price increase has nothing to do with the cryptocurrency's true value; it's simply an indication of people looking to get rich quick. Betting can be fun, but it's not a good investment.
The price of DOGE soared from $0.35 to $0.45 following this tweet. Overflowing Dogecoin trades caused the Robin Hood trading platform to go down. The amount of trades in DOGE exceeded $70 billion within 24 hours. DOGE rose 7000% year-to-date to become the 5th largest crypto briefly after its value rose 7000% year-to-date.
During May 2021, DOGE continued to rise. The price of Bitcoin hit an all-time high of $0.73 during Elon Musk's Saturday Night Live appearance, but dropped by over 30% the next day. Following SpaceX's announcement to send DOGE to the moon on May 20th, the price of DOGE jumped 11% following another of Elon Musk's memes.
After the early summer excitement, the price of DOGE had halved. The prices of cryptos fell further at the end of November and early December, falling between $0.20 and $0.30.
However, it still has great potential to generate short-term profits.
You can simply buy a reasonable amount of Dogecoin, waiting for these price increases, and sell the moment it hits your target. Of course, it turns out to be incredibly risky, but since you're not betting much, you also won't lose much.
It turns out to be perfect for beginners looking to get into cryptocurrencies or for veterans who want to gamble.
Should you decide to invest in this coin for the long term, be aware of the dangers involved. Dogecoin also does not lend itself to being a cryptocurrency that will stand the test of time, although perhaps one day it will prove not to be so.
As of the date of this review the price of Dogecoin is $0.1375 according to CoinMarketCap.
How to Buy Dogecoin with PayPal
PayPal offers the ability to purchase cryptocurrencies such as Bitcoin and Ethereum. Unfortunately, Dogecoin cannot be purchased through PayPal at this time.
With PayPal, you can buy Dogecoin by first buying Bitcoin and then converting that Bitcoin into Dogecoin by using a cryptocurrency exchange.
PayPal can also fund your cryptocurrency exchange account. When you pay with GBP via PayPal, you will be able to buy Dogecoin instantly.
How to Buy Dogecoin with Bitcoin
Dogecoin can be purchased with Bitcoin if you already own it. Bitcoins can also be deposited on cryptocurrency exchanges with no identity verification.
Buying Dogecoin Safely
Dogecoin trading is not technically a scam. Dogecoin is just another cryptocurrency that has gained popularity. On the other hand, Dogecoin trading is a poor investment in terms of investment fundamentals - other cryptocurrencies are better investments.
Retail investors can easily access Dogecoin through the platforms mentioned in this review.
Dogecoin is a very risky investment due to its sharp rise in price since 2018. Additionally, because the cryptocurrency lacks any value, it is useless.
Like any type of investment, if the necessary measures are not taken can be high risk.
Always remember before buying Dogecoins you should do it through one of the platforms mentioned above and review their security policy and the features they offer.
Never buy through third parties or your money will be at great risk of loss.
Risks of Buying Dogecoin
As a result of its popularity, Dogecoin's future is also unpredictable. Generally, the higher a coin's value, the greater its likelihood of suddenly increasing or decreasing.
Due to the popularity of dogecoin trading, a third party can raise or lower its price accidentally. Furthermore, Elon Musk's Twitter presence can drastically affect Dogecoin's price, as people will buy or sell it based on his tweets.
The announcements will also be of interest to Dogecoin buyers. For example, celebrities influence the opinions of their fans regarding currency in addition to the usual differences in value.
As Dogecoin uses the same consensus model as Bitcoin, it is relatively secure. However, it has yet been unceremoniously hacked. After Dogecoin's launch, hackers seized 21 million coins worth $12,000 within weeks.
Hackers did not compromise Dogecoin's blockchain; only the website was hacked, causing payments to be sent directly to wallets. As a result, Dogecoin's trading platforms are extremely secure.
Any exchange that supports Dogecoin can sell DOGE when desired, regardless of its acquisition. Setting up a sell order is easy if you have not moved your Dogecoin from your exchange wallet.
As always the best option to sell Dogecoins is through a fully regulated platform like the ones mentioned in this review as they have all the security features and are very easy and fast to use.
It is worth noting that you should never invest more than you are allowed to buy. If you want to limit the risks of this type of investments or do not have much previous experience it is very advisable to start with small amounts.
Dogecoin Price Prediction
Can Dogecoin reach $1? Of course, it is the community's goal.
Elon Musk's support could push Dogecoin's price to $1 in the future. Musk has consistently boosted Dogecoin's value with his tweets to his 53m Twitter followers during the past year.
It is likely that Dogecoin will continue to fall below its support level of $0.158 in 2021 and may drop as low as $0.10. On the other hand, Dogecoin may surpass $1 by the end of the year.
Dogecoin Price Prediction for 2025
Finder, a price comparison website, conducted a survey involving 42 experts. The analysts predict DOGE's price will reach $1.21 on average by 2025.
Dogecoin Price Prediction 2030
A panel of the same members predicted an average price of $3.60 for 2030. However, Dogecoin's median value was much lower due to the lack of confidence by many panelists.
It is relevant to note that 80% of the members of Finder's panel thought that Dogecoin was a bubble. However, no one predicted the recent crypto crash of December 4th, 2021, in which $500bn was wiped out of the crypto market. Thus, assessing future Dogecoin values isn't a straightforward task.
Where to Buy Dogecoin
Where can you buy Dogecoin in Canada? First, this altcoin meme needs to be traded on a cryptocurrency exchange.
When choosing a cryptocurrency exchange, you need to consider many things, such as the coins you can trade with, the price of the trade, and the features of the available trading tools. Below are two of the best cryptocurrency brokers in Canada that you can use to buy Dogecoins instantly.
Best Way to Buy Dogecoin Canada – BitBuy Tutorial
Step 1: Open an Account
Click on the Sign-up to Get Started link on the official website.
Your capital is at risk
Step 2: Upload ID
Enter your email address and password, as well as your referral code or link if you have one. Click the Create an account button.
Click on the Verify my Email link in Bitbuy's email to confirm your email ID. For security reasons, once your email address is confirmed, you will have to set up two-factor authentication. After the verification process is completed, your account will be ready in no time and you can begin trading immediately.
Step 3: Deposit Funds
Your account can now be funded with cryptocurrencies, bank transfers, credit cards, or debit cards.
Step 4: Buy Dogecoin in Canada
To buy Dogecoin, go to the Bitbuy dashboard and search for it. A trade order form can be accessed by clicking 'Trade' when it appears. Then, once you have entered the amount of Dogecoin you wish to buy.
Your capital is at risk
The Dogecoin cryptocurrency has survived for more than eight years despite its creation as a joke. However, the meme coin Dogecoin recently received a boost from Elon Musk - and even though the excitement has died down, it can be only a question of time before the social media focus returns to the meme currency.
Would you like to buy Dogecoin in Canada? Join BitBuy now and start trading cryptocurrencies!
BitBuy – Best Canadian Crypto Exchange to Buy Dogecoin
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