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Dogecoin is perhaps 2021’s most popular cryptocurrency following its colossal bull run in May of that year. Although the cryptocurrency started out as a joke, the original ‘memecoin’ is still considered a legitimate investment prospect according to some investors.

In this guide, we’ll show you how to buy Dogecoin in Nigeria as well as discuss different crypto platforms to invest in the popular altcoin. 

Where to Buy Dogecoin (DOGE) – List

Below is a list of some crypto platforms that we will mention in this How to buy Dogecoin in Nigeria guide:

  1. Capital.com – Overall Best Cryptocurrency Trading Platform Nigeria
  2. Binance – Best Crypto Exchange for New Coins
  3. Coinbase – Best Beginner Crypto Trading Platform 
  4. Kraken– One of the Most Established Cryptocurrency Exchanges Nigeria
  5. Crypto.com – Fast and Secure Crypto Cryptocurrency Exchange
  6. Paxful – Crypto Exchange with Most Payment Methods

Where to Buy Dogecoin Nigeria – Step by Step Guide 2022

Below are six platforms we’ve reviewed to help you start on how to buy Dogecoin in Nigeria.

1. Capital.com – Overall Best Crypto Trading Platform Nigeria to Buy Doge

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Our overall best crypto trading platform to buy Dogecoin is Capital.com with its zero commissions trading, easy-to-use interface, and fast transaction speeds. Aside from this, beginners can better learn how to buy Dogecoin in Nigeria through Capital.com’s demo account feature and research resources.

Capital.com offers data on technical analysis, technical indicators, fundamentals, and other key data to help users better understand how to buy a Dogecoin. Multiple payment methods such as bank transfer and bank card payments are also offered by the broker. 

When purchasing cryptocurrencies on the Capital.com platform, you’re actually buying the crypto asset under a contract for difference (CFD). As with other CFD platforms, Capital.com takes advantage of the lower costs and exposure in CFD trading to offer competitive spreads. 

The minimum amount to trade cryptocurrencies like Dogecoin is just US$1 on Capital.com with a US$20 dollar minimum deposit.

Capital.com fees

Fee Amount
Stock trading fee Spread. 1.83 pips for Amazon.
Forex trading fee Spread. 0.6 pips for EUR/USD.
Crypto trading fee Spread. 100 pips for Bitcoin/USD.
Inactivity fee Free
Withdrawal fee Free

Pros:

  • Access to thousands of share CFDs with 0% tight spreads
  • Integration with MetaTrader 4 trading platform
  • Access to Investmate educational trading app
  • More than 75 technical indicators
  • Access to a demo account
  • Regulated by FCA, and Cyprus Securities and Exchange Commission.
  • 24/7 customer support
  • Wide range of payment options including credit cards and debit cards, Apple Pay, and bank transfers
  • No deposit fees

Cons:

  • Can’t set price alerts on the web platform
  • Only CFD and real stock available

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. Binance - Buy Dogecoin on the Largest Crypto Exchange

how to buy dogecoin in nigeria

As the largest crypto exchange platform, Binance is another great platform to buy Dogecoin in Nigeria. Although the platform is loaded with different features and crypto products, users can learn how to use their different products in the Binance app through various educational resources on site.

In particular, Binance’s Support Center offers various articles that can give necessary insights on how to buy Dogecoin Binance. There, you’ll find FAQs and articles that show steps on how to buy Dogecoin using USDT on Binance, how to buy Dogecoin on Binance using P2P markets, and how to buy Dogecoin on Binance in Nigeria.

Binance fees

Fee Amount
Crypto trading fee Commission, starting from 0.1%
Inactivity fee Free
Withdrawal fee 0.80 EUR (SEPA bank transfer)

Pros:

  • Provides daily trading volume of billions of dollars
  • Provides support for hundreds of digital asset pairs
  • Bank transfers and debit/credit cards allow for near-instant deposits
  • Commissions start at just 0.1% per slide
  • Provides cryptocurrency savings accounts
  • This tool is useful for both beginners and experienced traders

Cons:

  • News of regulatory scrutiny with the platform
  • E-wallets cannot be deposited or withdrawn

Your capital is at risk.

3. Coinbase - Best Dogecoin Beginner Trading Platform

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Coinbase is the best beginner platform for crypto trading thanks to its intuitive interface, great crypto educational courses, and coin offerings. They have under their belt some of the most popular cryptocurrencies that beginners will be trading and investing in.

 Coinbase will not only help you better learn how to buy Dogecoin in Nigeria, but it will also give you knowledge on different crypto aspects as well. Their goal is to enrich your trading knowledge along your crypto investing journey.

Fee Amount
Crypto trading fee 1.49% standard commission
Inactivity fee Free
Withdrawal fee 2% debit card withdrawal fee

Pros:

  • Over 100 tradable cryptocurrencies
  • Great for beginners
  • Easy-to-use platform
  • Registered as a Money Services Business with FinCEN
  • Tons of crypto-related educational resources
  • 24/7 live phone support
  • Supports debit cards and bank transfers
  • Top-rated mobile app
  • Offers a crypto asset wallet

Cons:

  • Limited trading tools
  • No copy trading or social trading features

Your money is at risk.

4. Kraken - One of the Most Established DOGE and Crypto Exchanges Nigeria

how to buy dogecoin on coinbase

Having just been launched two years after Bitcoin’s release, Kraken is one of the oldest and most established crypto exchanges in the world. The platform has years of experience in making sure that its clients have great and secure crypto investing journey.

Including Dogecoin itself, there are over 50 cryptocurrencies on Kraken. The memecoin can be traded in both the classic and advanced trading interfaces in Kraken and Kraken Pro. 

If you’re more interested in learning how to buy Dogecoin on Kraken, the platform has its own “How to Buy Dogecoin (DOGE)” article with a step-by-step guide for Kraken users. Kraken even has integrations with iOS and Android for its mobile platforms which also have separate classic and pro versions.

Kraken fees

Fee Amount
Crypto trading fee 0.9% fee for USD to any stablecoins,

1.5% fee for any other crypto or FX pair

Inactivity fee Free
Withdrawal fee Flat fee depending on the coin; 0.00002 BTC for Bitcoin

Pros:

  • Advanced Kraken Pro for more technical tools
  • 95% of all deposits are kept in highly secure offline cold storage
  • Two-factor authentication available
  • Account information encrypted at rest at both the system and data level
  • Over 50 cryptocurrencies available at competitive fees
  • Low minimum deposit required at just US$10
  • Up to 5x leveraged crypto investing ifor select countries
  • 24/7 support

Cons:

  • Limited customer support available

Your money is at risk.

5. Crypto.com - Fast and Secure Cryptocurrency Exchange

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One of the most extensive platform ecosystems out there is in Crypto.com, one of the fastest and most secure exchanges available. The platform also offers decentralized finance investing on crypto which lets you earn passively on held crypto coins.

With crypto derivatives, the platform is also one of the top exchanges for those looking to trade crypto using margin. For Dogecoin, a margin of 10:1 is the maximum for those keen on leverage trading the popular altcoin.

Fee Amount
Crypto trading fee 0.04% maker and taker fees
Inactivity fee Free
Withdrawal fee According to the currency withdrawn. 0.0004 for ETH

Pros:

  • Supports over 250 cryptocurrencies and stablecoins
  • 14% annual returns on staking stablecoin on the platform
  • Spend with the Crypto.com Visa Card and get up to 8% back
  • NFT marketplace available
  • Multiple DeFi integrations on the site
  • Fees that are competitive, transparent, and offer discounts
  • Support a cryptocurrency ecosystem

Cons:

  • Higher fees unless you use and stake CRO
  • Difficult to navigate trading fee discounts

Your money is at risk.

6. Paxful - Crypto Exchange Where To Buy Doge with Most Payment Methods

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 Paxful is an online peer-to-peer cryptocurrency exchange that lets you purchase Dogecoin from other users with naira and other currencies. Unlike other platforms, Paxful lets you do all of this anonymously and at lower costs since dealings are direct with other parties.

Without a KYC protocol, you can easily sign up with just an email, cell phone number, and password. From there, you can connect your Paxful wallet to purchase Bitcoin, Tether, or Ethereum. You can then convert any of the three cryptocurrencies in your Paxful wallet into Dogecoin through another exchange. 

Paxful fees

Fee Amount
Crypto trading fee Depends on the vendor - usually 1-2% of the market price
Inactivity fee Free
Withdrawal fee None

Pros:

  • Over 350 different payment methods
  • Trade with more than 12,000 trusted vendors
  • Bitcoin is held in our secure escrow until the trade is completed successfully
  • Get a lifetime free Bitcoin wallet maintained by BitGo, the leading provider of secure Bitcoin wallets
  • Buy bitcoin with a debit card with no verification of identity
  • Buy bitcoin with a credit card with no verification of identity

Cons:

  • No direct DOGE purchase available
  • Difficult to navigate trading fee discounts

Your capital is at risk.

What is Dogecoin?

how to buy dogecoin with naira

According to the Dogecoin website, Dogecoin is ‘an open-source peer-to-peer digital currency, favored by Shiba Inus worldwide.’ Created in late-2013 by software engineers Billy Markus and Jackson Palmer, Dogecoin was launched initially as a joke to prove how easy it was to create cryptocurrencies.

But despite starting out as just satire to cryptocurrencies, the famous memecoin has been backed by billionaire celebrities Elon Musk and Mark Cuban. Even American rapper Snoop Dogg expressed interest in Dogecoin.

Reddit was a platform where the Dogecoin community grew as more and more investors wanted to know how to buy Dogecoin online. The popular altcoin is supported by a buzzing community and team which has pushed for many full-hearted advocacies. For example, Dogecoin launched a community fundraiser that collected US$50,000 for the Jamaican Bobsled team to compete in the Sochi Winter Olympics.

Other Dogecoin-run community advocacies include the Tana river basin water donation drive in Kenya. Aside from just raising awareness for the water crisis in Kenya, they were also able to raise US$11,000 for the cause. 

This 2022, many other memecoins that look to become a better Dogecoin are already on the market. Notably, the community-driven Nano Dogecoin (INDC) is a charity token with built-in rewards which help investors earn passively from their held INDC tokens. More on how to buy Nano Dogecoin and how to invest in crypto can be found on different exchange platforms.

how to buy dogecoin from nigeria

67% of retail investor accounts lose money when trading crypto derivatives with this provider. You should consider whether you can afford to take the high risk of losing your money.

Why Buy Dogecoin in Nigeria?

When looking into cryptocurrencies, investors try to find key utilities, future prospects, and tokenomics for consideration. For example, investors looking to buy Ethereum can see the many utilities of Ethereum’s smart contracts combined with how established the token is and its future with Ethereum 2.0.

In the case of Dogecoin, the cryptocurrency is based on the Scrypt algorithm which is the same protocol used for Litecoin (LTC). The coin is actually more efficient than Bitcoin since it takes just 1 minute to complete a block as opposed to Bitcoin which takes 10 minutes to do so.

As for Dogecoin’s utility, the coin is often used for internet-based tipping. Dogecoin holders use the DOGE coins to tip their favorite social media content creators which acknowledges how great their content is. Because transactions through Dogecoin are anonymous, the famous memecoin provides a unique way of discreetly supporting your favorite internet creators.

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By looking into the historical price of Dogecoin and current price actions, you might be able to find some reasons as to why you would invest in the altcoin. Once you know how and where to buy Dogecoin, then you should be able to easily buy the altcoin if you have a lot of bullish sentiment on Dogecoin.

How Much Does It Cost to Buy Dogecoin in Nigeria?

If you’re asking: what is the cost of how to buy a Dogecoin, then the answer depends on what platform you’re using to buy the cryptocurrency. Some platforms offer different rates and spread since they use different methods to let you hold the cryptocurrency. 

For example, Capital.com requires a minimum of US$1 to buy Dogecoin through their crypto CFD. With US$1, you can purchase around 8.5 DOGE coins.

How to Buy Dogecoin with PayPal

U.S. PayPal account holders might already know that they can buy, sell, and pay using four different cryptocurrencies. Invest in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash which can be stored in these PayPal accounts but only for select areas. PayPal does mention that they are working on extending this feature for accounts globally, so other users might be able to purchase cryptos in the future.

For now, if you want to know how to buy Dogecoin with PayPal, the key is to look for a trading platform that accepts PayPal as its payment method. For example, you can use Capital.com which has PayPal as a payment option. Once your Capital.com account is funded via PayPal, you can proceed to buy Dogecoin on the web or mobile app.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

How to Buy Dogecoin with Bitcoin

If you already own Bitcoin and want to convert it into Dogecoin, there are a few ways you can do so. For how to buy Dogecoin with Bitcoin on Binance, you’ll simply need to transfer your Bitcoin to your Binance account. Once your Binance account has your Bitcoin, you can then go to the ‘Convert’ option under the ‘Trade’ section to convert your BTC into DOGE.

Buying Dogecoin Safely

how to buy a dogecoin

Dogecoin, like all cryptocurrencies in the market, is not immune to thefts and phishing schemes so it’s important to know how to buy Dogecoin online safely. One tip to always keep in mind is to always have your wallet keys safe. If you happen to lose your phones with your crypto apps, make sure to deactivate them online.

One common way of getting scammed with Dogecoin and other crypto is through a crypto doubling scheme. Some sites stream a breaking news video or old video and add headlines that give the false sense of a price increase in the coming week. They’ll also promise to double your cryptocurrencies if you send them yours but then end up not sending you back any cryptocurrencies in the future.

Avoid suspicious URLs, emails, and direct messages that could potentially be scams. Using reliable and established platforms like Capital.com, a regulated platform, is one of your best options for trading Dogecoin safely. 

67% of retail investor accounts lose money when trading crypto derivatives with this provider. You should consider whether you can afford to take the high risk of losing your money.

Risks of Buying Dogecoin

You'll want to make sure that you have the proper risk management plans on deck. Let’s go through some of the risks involved with buying Dogecoin below:

  • Even today, cryptocurrencies are considered to be highly volatile and speculative assets that are prone to sudden price fluctuations
  • Many crypto exchange platforms offer Dogecoin margin trading which can lead to massive losses when prices spike
  • Purchasing Dogecoin from unsecured platforms can not only cause private information to be leaked but also the potential for malicious users to get your computer information

Selling Dogecoin

If you’re thinking of liquidating your Dogecoin investments due to your price targets being reached, you can easily sell your Dogecoin from the same platforms you used to purchase the coin. Simply close your long positions on DOGE to sell the cryptocurrency. If your Dogecoin is in your crypto wallet, then you can swap the coin for stablecoin or fiat currencies if your platform allows it.

Dogecoin Price Prediction

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67% of retail investor accounts lose money when trading crypto derivatives with this provider. You should consider whether you can afford to take the high risk of losing your money.

Last 2021, Dogecoin’s price peaked at around US$0.70 in May. Currently, Dogecoin is trading within the US$0.11 to $0.12 range and has been on a long-term downtrend due to current market conditions like the current crypto bear market.

If Dogecoin breaks below the $0.11 level then the next support for the coins would be at $0.105. However, if DOGE makes another run upward and breaks the current US$0.12 resistance, it might look to test the $0.125 level which has been another resistance from the past few months.

Best Way to Buy Dogecoin in Nigeria - Capital.com Tutorial

Now that you know how to buy Dogecoin from Nigeria and why many have flocked to the cryptocurrency in the past, it’s time to learn the best way how to buy Dogecoin online which is through Capital.com. Let’s look at the step-by-step tutorial below on how to buy a Dogecoin on Capital.com.

Step 1: Open an Account

signup sheet capital.com

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Here is how to buy Dogecoin in Nigeria. First, head to the Capital.com website and click on the 'Trade Now' button at the top right. You'll then be redirected to the sign-up sheet. Simply fill in your email address and password or use an existing Facebook, Google, or Apple account to connect.

Step 2: Upload ID

ID verification capital.com

Next, you won’t be able to buy Dogecoin without verification. For this, Capital.com will ask you to verify your account by uploading a valid ID and proof of address. For a valid ID, you may opt for something like a passport or driver's license. For the proof of address, you may use a utility bill or a bank statement.

Step 3: Deposit Funds

Now that your account has been verified, you can proceed to deposit funds. Choose among different payment methods including bank transfers, bank cards, and other e-payment methods.

Step 4: Buy Dogecoin in Nigeria

Buy DOGE Capital.com

With your account now funded, you can now buy Dogecoin on Capital.com! On the dashboard, search for DOGE and press trade. Once the trade modal shows up, you may put in your desired amount to invest in (minimum at US$1) and click on 'Buy'.

Capital.com – Best Nigerian Crypto Platform to Buy Dogecoin

capital.com logo

75.26% of retail investor accounts lose money when trading CFDs with this provider. Your capital is at risk.

FAQs

What is Dogecoin?

Dogecoin is a cryptocurrency very similar to Bitcoin and was created to show that anyone can copy the code for creating cryptocurrencies. According to the Dogecoin official site, the cryptocurrency is an open-source peer-to-peer digital currency, favored by Shiba Inus worldwide.

Who created Dogecoin?

Dogecoin was created by software engineers Billy Markus and Jackson Palmer and was initially released in December of 2013.

What is the market cap of Dogecoin?

At the time of writing, Dogecoin’s market cap is at US$15.3 billion - the 13th largest cryptocurrency in this regard.

Do I need a crypto wallet to buy Dogecoin?

If you want to have complete control of the Dogecoin that you buy, then you will need a crypto wallet to store the altcoin. However, trading in a platform such as Capital.com does not require a crypto wallet to buy and sell Dogecoin.

Can I buy Dogecoin in Nigeria?

Yes, you can. For example, you can purchase Dogecoin on the Capital.com platform which is available for Nigerian residents.

How much money do I need to buy Dogecoin Nigeria?

How much money you need to buy Dogecoin in Nigeria will depend on your broker. For example, if you’re using Capital.com the minimum amount to buy DOGE is US$1.

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About Jose Rafael Aquino
About Jose Rafael Aquino

Jose Rafael Aquino is a Filipino writer and entrepreneur that specializes in finance, technology, cryptocurrency, and sports. Versed in the startup tech space, he has written for websites such as The GUIDON, StockApps, and BuyShares.