We review some of the options for purchasing everyone’s favourite meme-coin: Dogecoin.
Disclaimer: This article is not providing any investment advice or recommendations. We are simply overviewing several platforms you can use to buy Dogecoin in Canada, not encouraging you to do so. Dogecoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.
With everyone from Redditors to celebrities to the richest person in the world hyping up Dogecoin, we thought it best to outline three applications that allow for Dogecoin purchasing in Canada. Just to reiterate the disclaimer from above, we are not advocating for investing in Dogecoin, we’re simply giving you some options if you want to jump on this bandwagon. We leave it fully up to you to decide whether it’s going to the moon or crashing down after the hype cycle passes.
What is Dogecoin?
Before diving into the options for purchasing, it’s important to know a bit about Dogecoin’s history. Dogecoin began as a fork of Litecoin in 2013. It was intended to be a joke currency, that uses the popular Shiba Inu Doge meme as its mascot. At the time of writing it has a market capitalization of just over $13.5B CAD and a circulating supply of almost 130B Dogecoins, giving it a current price of $0.105 CAD per Dogecoin. It’s important to note that the total supply of Dogecoin isn’t fixed, so the circulating supply could continue to rise infinitely, as long as there are miners willing to devote their work towards it.
Why is everyone talking about Dogecoin? What’s the hype?
After the market instability and overall hype around Wall Street Bets meme stocks, it was pretty natural for people to transition into crypto. Satoshi Street Bets (r/satoshistreetbets) was soon born to create a similar environment around crypto trading. Dogecoin quickly became the “currency of the people.” Everything that contributed to its former joke-coin status was seen as a positive in its current role as a meme coin and overall mascot for the movement.
After retail traders pushed the Dogecoin price beyond previous highs, celebrities began to join the hype train – the first and most notable being Elon Musk. By tweeting out support for Dogecoin and the movement it represents, the price skyrocketed to almost 10 cents two weeks ago. Now after a more tweets from Elon, increased retail interest, and more celebrities like Gene Simmons and Snoop Dog hopping on board, Dogecoin has reached a new all time high. Where it goes from here is anybody’s guess!
Where can I buy Dogecoin in Canada?
Now that you know a bit more about Dogecoin, you may have decided you’d like to purchase some (again, we’re not advising this nor providing any financial advice). So what are your options for buying Dogecoin in Canada? Unfortunately, the majority of Canadian exchanges don’t carry Dogecoin. Some of our favourites (that we previously discussed here) don’t have it in their crypto offerings.
That being said there are several options for buying Dogecoin in Canada, and we’ll outline them below. As always, if you sign up with our referral links, you’re not only unlocking these bonuses for yourself, but also supporting us! We truly thank anyone who decides to use our links to register.
Canadian Cryptocurrency Exchanges that Sell Dogecoin:
Option 1: NDAX → Register for NDAX and get $10 after depositing $100
Our favourite option for buying Dogecoin in Canada is NDAX. They offer 11 cryptocurrencies, including Dogecoin. They have a robust trading platform on their web platform and also iOS and Android apps. We recommend using the web interface for NDAX as it comes with all features. Another plus for NDAX is their trading fee is only 0.2%, quite a reasonable fee for buying Dogecoin or other cryptocurrencies!
The signup process for NDAX is quite quick and easy. I got my account set up and approved in less than 30 minutes, and their E-Transfer deposit acceptance was one of the fastest I’ve experienced.
NDAX has a signup bonus of $10 for anyone who signs up with our referral link, completes their account registration, and deposits $100 CAD. Sign up here: https://one.ndax.io/bfQfJm
Option 2: Coinsquare → Register for Coinsquare and get $10 in BTC after depositing $100
Another Canadian exchange option for buying Dogecoin is Coinsquare. In the 2017 bull market, Coinsquare was probably the most popular Canadian exchange. Though the market is now more competitive, Coinsquare is still a good option for buying Dogecoin (or any of their other 10 cryptocurrencies) in Canada.
Like NDAX, Coinsquare is a much better experience on their web portal. I find their iOS app to be a little buggy and sometimes very slow. But, on the web, I was able to quickly fund my account and purchase Dogecoin!
Coinsquare has a signup bonus of $10 in BTC for anyone who signs up with our referral link, completes their account registration, and deposits $100 CAD. Sign up here: coinsquare.com/register?r=iAUEi
International Exchanges Available to Canadians that Sell Dogecoin
There are many international exchange options for buying Dogecoin in Canada. We won’t outline all of them, but here’s our favourite:
Option 3: Crypto.com → Register for Crypto.com and get $25 USD in CRO after staking for a CRO VISA Card
Crypto.com offers a wide variety of crypto tokens and investment products. These range from interest-bearing crypto term certificates, to farming new tokens, to a Crypto-rewards pre-paid credit card. They recently added Dogecoin to their coin lineup.
Although Crypto.com’s large lineup of products can be a bit intimidating for new users, overall I’ve found their offerings to be quite user friendly. I think crypto.com makes a great option for anyone looking for a more in-depth cryptocurrency experience.
Crypto.com’s signup bonus works differently than the other options on this list (but comes with the highest payout). To unlock your $25 USD bonus of their in-house token CRO, you need to signup with our link below and complete the registration for one of their metal VISA cards, which includes staking some of the CRO token for 180 days (the amount varies depending on which card you wish to receive). Note: the bonus will be credited to your account as soon as you complete the card registration, you don’t need to wait the 180 days to receive it.
Signup here and complete their metal VISA card registration to get $25 USD of CRO: https://crypto.com/app/7w6ccuwwfe
BONUS: Crypto.com is currently running a Dogecoin contest. The first 400 new users to complete the following three steps, win $50 USD worth of DOGE.
1) Sign up for the Crypto.com App between February 8, 2021 & February 28, 2021
2) Trade at least $100 USD worth of Dogecoin
3) Stake CRO to reserve a CRO Visa Card (Ruby Steel tier or above). This is also the tier that will unlock your signup bonus for using our referral link: https://crypto.com/app/7w6ccuwwfe
Conclusion: Buying Dogecoin in Canada
Now that you’ve seen a few options for buying Dogecoin in Canada, it’s up to you to decide whether you’d like to get some. Head over to NDAX, Coinsquare, or Crypto.com to start your Dogecoin journey. Hopefully we’re all headed to the moon!
Disclaimer: This article is not providing any investment advice or recommendations. We are simply overviewing several platforms for purchasing Dogecoin, not encouraging you to do so. Dogecoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.