Dogecoin has risen to prominence over the past 12 months, having surged over 1000% in mid-2021. This huge price move attracted millions of investors and helped Dogecoin become a popular coin in the crypto market.
If you want to learn more about how to buy Dogecoin, then read on for our full article on how to buy Dogecoin in Canada. We will cover how to buy Dogecoin, where to buy Dogecoin in Canada, and other useful tips and insights.
How to Buy Dogecoin in Canada – Four Quick Steps
Let’s quickly see in 4 steps how you can buy Dogecoin today
1. Open a Bitbuy Account – Visit the official website and follow the on-screen instructions.
2. Deposit Funds – To buy Dogecoin, you must first fund your Bitbuy account with your selected currency.
3. Search for Dogecoin – Navigate to the search bar and type in Dogecoin.
4. Buy Dogecoin – Fill out an order form to add Dogecoin to your portfolio.
Where to buy Dogecoin
Now we have briefly looked at the four key steps to buy Dogecoin. We’re going to take a closer look at some of the best places to trade crypto. We will cover Bitbuy, Crypto.com and Binance, and will cover the pros and cons of each.
1. Bitbuy
Bitbuy is a Canadian crypto exchange and was founded in 2016. It is a good broker option for beginners as it requires very little experience and trades can be made quickly and easily through the Express Trade feature. What’s more, it is available on both iOS and Android, and the app is very easy to use.
Bitbuy supports 15 of the most popular cryptocurrencies, including Dogecoin. This is a good point to consider if investors want to build diversified portfolios. While the app and website are easy to use, Bitbuy offers more advanced charts via its integrated Trading View feature. It is ideal for a more technical analysis of coins and price movements.
Bitbuy is also well regulated and offers comprehensive crypto insurance via its partnership with BitGo Trust. It is a high security, purpose built, qualified custodian for storing crypto assets. All crypto held in Bitbuy wallet is covered by the BitGo insurance policy meaning investors can trade with peace of mind.
In terms of fees, Bitbuy charges 0.2% commission on either side of Express Trades. When you withdraw CAD from your Bitbuy account, you will incur a 1.5% fee. The same fee also applies when funds are deposited into your account. However, depositing crypto is free.
Buy Dogecoin in Canada at Bitbuy.
Invest responsibly.
2. Crypto.com
Founded in 2016, Crypto.com has grown to accommodate more than 10 million users. It has a whopping 250 coins for users to choose from which is a good point to consider. The home page is easy to navigate around, making it an excellent choice for novice investors. However, the charts presented are very simple and are not ideal for more technical analysis.
Crypto.com is very safe and uses several security measures to protect your crypto. For example, all accounts are equipped with multi-factor authentication (MFA). In addition, it also works with banks to provide up to $250,000 of insurance via the FDIC scheme in the US.
In terms of fees, Crypto.com is in the middle of brokers. New users will pay around the 0.4% mark monthly if they trade volumes of less than £25k. However, these fee rates drop when users place more trades, which is great if you’re an avid crypto day trader who executes dozens of daily trades.
Buy Dogecoin in Canada at Crypto.com.
Invest responsibly.
3. Binance
Our third and final best broker to buy Dogecoin with is Binance. It is the world’s largest crypto exchange, giving users access to more than 500 crypto pairs. Setting up a Binance account is easy by visiting the online website or smartphone app. In addition, Binance offers a minimum deposit of only $10, which is a good point to consider.
Binance is also an extremely secure exchange, offering some of the most up-to-date security mechanisms. For example, every time you log into your Binance account, you must pass an identity verification process. Binance also offers an abundance of educational resources that can be ideal for novice investors. In addition to this, more advanced trading views can also be selected.
In terms of fees, Binance charges a 0.5% commission fee on either side of a trade. If you want to deposit funds with a credit card, users will incur a hefty 4.5% fee.
Buy Dogecoin in Canada at Binance.
Invest responsibly.
Ways to buy Dogecoin
To buy Dogecoin, users will first need to deposit funds into their crypto account. Most popular exchanges offer users the chance to deposit funds via a variety of payment methods. This will include debit/credit cards, bank transfers and e-wallets such as PayPal.
Buy Dogecoin with PayPal
To buy Dogecoin with Paypal, you need to set up an account with a broker and also have a funded PayPal account. When it asks you for payment options, select PayPal and your funds will come out of your PayPal account.
Buy Dogecoin with a credit or debit card
To buy Dogecoin with a credit card or debit card, simply select this option at the deposit stage. Users should be aware that credit card deposits are sometimes significantly higher than debit cards and e-wallets.
Is Dogecoin a good investment?
Popularity
Dogecoin started out as a ‘meme coin’ with little or no real value. But after it became popular, big names like billionaire business magnate and Tesla CEO Elon Musk started getting on board the hype train. As such, there is a very strong community supporting the coin.
In Q1 2022, Elon Musk posted on Twitter that Tesla will accept DOGE as a form of crypto payment for its goods.
Infinite supply
One point to note about Dogecoin is that there is an infinite supply. Currently, approximately 10,000 DOGE are mined every day, with a current supply of 132.7 billion DOGE. Using basic supply and demand economics, this does not bode well for the future price of DOGE.
Coinbase rating
Although the above point may seem negative, DOGE is still the 9th most popular coin on Coinbase, with a buy rating of 65%. What’s more, in the last 24 hours, the trading volume increased by 21%, highlighting investor interest.
Dogecoin price
The current Dogecoin price is £0.09 GBP / $0.12 USD / $0.15 CAD, which is up 2% for the week, and almost 40,000% since its inception in 2014.
Dogecoin Price Prediction
With an unlimited supply, it seems hard to see DOGE prices going up in the future. However, that hasn’t stopped the coin from making crazy moves in recent years. The future price will likely depend on two factors – how the mining trends develop over the next few years, and how the broader crypto industry grows and develops.
If mining continues to grow at such a high rate, the supply of DOGE may grow to a point where the coin begins to lose value. This will obviously harm the trajectory of DOGE’s future. At the moment, the crypto market is in a bearish place, and thus DOGE is far away from its peak of £0.53. As the market recovers, more interest will be returned to DOGE, and thus the price may rise accordingly.
Closure
Dogecoin has proven to be an extremely profitable investment over the past few years, making huge strides in the crypto market and growing to an enormous market cap. The future of the DOGE price will depend on how meme coins fair against higher utility coins, and also how the crypto space develops more broadly.
Do you want to buy DOGE? We recommend doing this through our selected exchange Bitbuy. It is highly secure, offers crypto insurance and is available on iOS and Android. What’s more, it has low fees and is ideal for beginners. If you are interested in setting up a Bitbuy account, simply go to the website to get started.
Buy Dogecoin in Canada at Bitbuy.
Invest responsibly.
Disclaimer:
The above content is non-editorial, and BCCL hereby disclaims any and all warranties, express or implied, relating thereto, and does not guarantee, warrant or necessarily endorse any of the content. Crypto/NFTs are unregulated, highly risky, and there may be no regulatory recourse for any loss from such transactions. Readers should use caution/exercise due diligence, and comply with all applicable laws, including but not limited to tax laws. The above content is not investment advice and does not promote, suggest or offer Crypto/NFTs to solve financial problems/achieve financial security/act as an alternative to employment/income opportunity.
Disclaimer: Content produced by CryptoPR
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While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
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