How To Buy Dogecoin In Canada (Nov 2021)

November 15, 2021
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There are two main methods to buy Dogecoin (DOGE) in Canada, and both involve using cryptocurrency exchanges. To buy Dogecoin in a crypto exchange, you can use fiat currencies (such as CAD or USD) to purchase an equal amount of the cryptocurrency, or you can buy other cryptocurrencies like Bitcoin (BTC) and then trade them for Dogecoin on a different trading platform.

CoinSmart is the favourite among knowledgeable Canadian crypto investors, both for its high level of security and for its ease of use. It also has the lowest trading fees of any exchange in Canada, so if you’re looking for a secure, cost-effective way to buy and sell crypto, I can’t recommend CoinSmart highly enough.

How To Buy Dogecoin In Canada

There are two main methods to buy Dogecoin (DOGE) in Canada.

The first method is using fiat currencies (such as CAD or USD) to purchase an equal amount of the cryptocurrency through the use of a cryptocurrency exchange (such as Netcoins, CoinSmart, or Bitbuy).

On the other hand, you can also use the same cryptocurrency exchange to buy other cryptocurrencies like Bitcoin (BTC), Tether (USDT) or USD Coin (USDC) and then trade them for Dogecoin (DOGE) on a different trading platform.

It’s worth mentioning that you can also mine Dogecoin directly from its blockchain through the use of a high-speed computer, but that doesn’t count as buying it, does it?

Top 5 Crypto Exchanges To Buy Dogecoin (DOGE) In Canada

Here are some of the best crypto exchanges in Canada that support buying Dogecoin (DOGE):

1. CoinSmart

CoinSmart

CoinSmart is a cryptocurrency exchange founded in 2018 and based in Toronto.

It’s a pretty popular crypto exchange in Canada, and it has been designed for beginners and experienced traders alike.

As for fiat currency support, it only features Canadian dollars (CAD) to date.

You have plenty of options as far as payment methods are concerned, including Interac e-Transfer, bank draft, credit card, debit card, and SEPA.

Features

  • Supports 14 cryptocurrencies
  • Lowest trading fees in the industry (just 0.20% per trade)
  • Instant account verification
  • Trade all altcoins directly
  • Immediate deposits and withdrawals
  • User-friendly for both beginners and advanced traders
  • 95% cold storage policy keeps your crypto extra secure
  • 24/7 customer support available via phone, live chat or email

Cost

  • Trading Fees: 0.20%

Signup Bonus

$50 when you deposit at least $100 using this link

Best For

Investors looking to trade stablecoins and altcoins with the industry’s lowest fees.

2. Crypto.com

Crypto.com allows you to stake coins, and it even has its has own cryptocurrency known as Crypto.org Coin (or CRO).

As for fiat currency support, it only features Canadian dollar (CAD) and Euro (EUR) support, and payment methods are also pretty limited, as you can only pay through bank transfers.

Trading fees depend on your account level, but they start at 0.40%.

Features

  • Supports 100+ cryptocurrencies
  • Allows up to 10x leverage
  • Trade crypto derivatives (futures and options contracts)
  • Earn daily interest by staking your coins
  • Purchase newly-listed coins at up to 50% off
  • Reasonable trading fees (0.4% per trade)
  • Free deposits from all cryptocurrencies

Cost

  • Trading Fees: 0.4%

Signup Bonus

$25 of CRO when you stake $1,000 of CRO using this link

Best For

Investors looking to buy altcoins and other new crypto assets before they go mainstream.

3. Bitbuy

Bitbuy is a crypto exchange that supports 9 cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Stellar, EOS, Aave, and Chainlink), prides itself on its helpful customer service reps, and has a beautiful, well-rated app. You can fund your Bitbuy account directly from your bank account via Interac e-transfer or bank wire, with all account deposits and withdrawals executed quickly.

Just like CoinSmart, Bitbuy verifies accounts instantly. Bitbuy is also gearing up to add 6 new coins in late November: PolkadotDogecoin, Polygon, Cardano, SushiSwap and Solana.

Features

  • Low trading fees
  • Easy to use for both beginners and advanced traders
  • Supports 9 cryptocurrencies (with 6 more coming in late November)
  • Excellent customer support
  • Powerful mobile app (rated 4.6/5 on the App Store)
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Express Trading Fees: 0.50%
  • Pro Trading Fees: 0.10% to 0.20%
  • Interac deposits/withdrawals: 1.50%
  • Bank wire deposit fee: 0.50%
  • Bank wire withdrawal fee: 1.00%.

Signup Bonus

$20 when you deposit at least $250 using this link

Best For

Investors looking for top-level security and fast verification/deposits/withdrawals.

4. Coinsquare

Coinsquare

Coinsquare was one of the first Canadian crypto exchanges. It supports 10 cryptocurrencies (Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash, Dogecoin, Ripple, Ethereum Classic, Stellar, and Bitcoin SV), and offers competitive trading fees ranging from 0.1% to 0.4%.

Deposits via Interac e-transfer and wire transfer are free, but withdrawals cost 2%, which can add up to hundreds or even thousands of dollars on larger withdrawals.

Features

  • Supports 10 cryptocurrencies
  • Low trading fees (0.1% – 0.4%)
  • 95% cold storage policy keeps your crypto extra secure

Cost

  • Quick Trade: 0.20% for Bitcoin trades, 0.40% for trades of other coins
  • Bit Markets: 0.1% for liquidity trades, 0.2% for trades that remove liquidity

Best For

Investors looking for low trading fees.

5. NDAX

NDAX

The National Digital Asset Exchange (NDAX) is a cryptocurrency exchange based in Canada and was founded in 2017. It’s one of several Canadian crypto exchanges that offer Dogecoin support.

It only supports Canadian dollars to date, but it has plenty of payment methods, including Interac e-transfer, wire transfer, bank draft, and crypto deposits. Trading fees are 0.20%.

Features

  • Supports 20+ cryptocurrencies
  • Easy registration process
  • Wide range of resources to help beginner traders
  • Offers easy-to-use tools to aid you during trading
  • Offers advanced charting tools for more experienced traders

Cost

  • Trading Fees: 0.20%.

Signup Bonus

$10 when you deposit at least $100 using this link

Best For

Experienced traders seeking strong charting capabilities.

Dogecoin FAQs

1. What Is Dogecoin?

Dogecoin is a cryptocurrency that was created by Billy Markus and Jackson Palmer way back in 2013. Its logo is based on the famous picture of a Shiba Inu dog (known as Doge), and the cryptocurrency was originally created with anything but serious intent in mind.

However, the digital asset started to gather some serious attention as time went on (especially in 2021), and it’s now supported by famous people such as Elon Musk, Snoop Dogg and Kiss bassist Gene Simmons.

The cryptocurrency has no cap on how many can be in circulation (unlike Bitcoin, which has a cap of around 21 billion coins) — in fact, the current supply of Dogecoins is nearing 130 billion.

The Dogecoin blockchain and the Bitcoin blockchain work kind of similar, but the use of Scrypt technology by the Dogecoin blockchain tends to consume less mining energy.

2. Can You Buy Dogecoin As A Canadian?

Absolutely! To buy Dogecoin in Canada, all you need to use is a cryptocurrency exchange that either allows you to exchange fiat currency for Dogecoin or other cryptocurrencies for Dogecoin.

For this purpose, I recommend using any of the following exchanges: CoinSmartBitbuy, or Crypto.com. These are currently our three top-rated exchanges in Canada, and each of them allows you to buy DOGE with relatively low fees.

3. What Crypto Wallet Should I Use?

There are a few ways to store your Dogecoins once you’ve acquired them.

One way is to simply leave it on the exchange where you purchased it. This could be safer than storing it in a software (or hot) wallet because crypto platforms tend to keep 95% of the coins they hold in cold storage. However, although unlikely, your Dogecoins might still be subject to hacking and theft, so keep that in mind.

You could also store your Dogecoins in a personal crypto wallet that secures your private keys and digital assets. It’s not guaranteed safety, but a cold wallet is safer than leaving your funds in the exchange you originally purchased your altcoins in.

Here are our top 3 cold storage wallet picks:

  1. Ledger Nano X: The Ledger Nano X is the best cold storage crypto wallet on the market today. It’s a hardware wallet that uses a certified secure chip to protect your private keys and it supports more than 1,800 crypto assets.
  2. Ledger Nano S: Similar to the Nano X, the Ledger Nano S is a hardware wallet with extremely positive reviews from its users. It supports 1,500+ cryptocurrencies and allows users to hold up to 20 digital assets on the device at any given time.
  3. Trezor Model T: The Trezor Model T is a hardware wallet and password manager designed and created by the SatoshiLabs team. It supports 1,000+ cryptocurrencies including Bitcoin, EthereumLitecoinDogecoin, Bitcoin CashZcash (ZEC), and many others.

4. Is Dogecoin A Good Investment?

It’s hard to have a concrete answer to this question because cryptocurrencies are still new to the world of investing, but it’s worth mentioning that cryptocurrencies are volatile and they can have wild fluctuations in their prices as well.

If you’re not sure about whether or not you can handle these conditions, trading and investing in crypto might not be for you.

In Summary

Dogecoin, the cryptocurrency that originally started as a good laugh between two software engineer friends, is now a legitimate investment prospect that you can acquire.

There are plenty of ways you can buy and sell Dogecoin, but be aware that investing in cryptocurrencies is a risky business and you should only invest what you can afford to lose. Nevertheless, things are looking up for Dogecoins, and the popularity that the altcoin is gathering only seems to be going up as time goes on.

If you want to buy Dogecoin in Canada, I recommend you use CoinSmart, both for its high level of security and for its ease of use. It also has the lowest trading fees of any exchange in Canada, so if you’re looking for a secure, cost-effective way to buy and sell crypto, CoinSmart is the way to go.

The Best Crypto Exchanges In Canada

#1 CoinSmart

  • Supports 13 cryptocurrencies
  • Lowest trading fees in the industry
  • 24/7 customer support

Signup Bonus: $20 when you deposit at least $100

#2 Crypto.com

  • Supports 100+ cryptocurrencies
  • Trade with up to 10x leverage
  • Earn daily interest by staking your coins

Signup Bonus: $10 of CRO when you stake $1,000 of CRO

#3 Bitbuy

  • Supports 9 cryptocurrencies
  • Extra secure cold storage of coins
  • Instant account verification

Signup Bonus: $20 bonus when you deposit $250 or more