10/20/2022 | Money Crashers
Best Crypto Exchanges to Buy & Sell Dogecoin (DOGE)
Dogecoin was launched in 2013 by then Australia-based Adobe employee Jackson Palmer and U.S.-based software engineer Billy Markus. It all began as a joke when Palmer posted on Tumblr, “Investing in Dogecoin, pretty sure it’s the next big thing.” The post poked fun at the rate at which new altcoins were flooding the market at that time.
Ironically, the cryptosphere was highly enthused with the new joke currency — such that its website received over 1 million visitors in just 30 days.
In 2021, Dogecoin rode the bullish crypto wave like no other cryptocurrency — surging by more than 20,000% from 2020. The crypto now sits firmly in the top 10 in market rank, and analysts even predict Dogecoin will vault past $1 — a much-anticipated price goal — some time in 2021.
As reported by data-tracking platform Analytics Insight, the cryptocurrency was the fifth most traded in July 2021. It was also among the most traded crypto by 24-hour volume, according to Statista. In short, Dogecoin is in demand as crypto investors rush in to capitalize on the current craze.
But where can you buy Dogecoin? And when you need to dispose of it for some profit, where can you sell it? If you’d like to get in on the Dogecoin action, there’s no shortage of cryptocurrency exchanges where you can purchase or sell the crypto.
Best Exchanges for Buying Dogecoin
In many cases, the exchange where you purchase DOGE also supports selling. In such cases, it’s more seamless and cheaper for you to trade the crypto. The best place to buy Dogecoin is at www.doge.exchange
However, depending on the currencies supported by the exchange for both buying and selling, sometimes you may need to switch between different exchanges for either function.
Here’s a list of some of the best places to buy Dogecoin:
Launched in 2011, U.S.-based Kraken is the fourth largest crypto exchange by volume, per CoinMarketCap. For fiat funding, the exchange currently supports funding via U.S. dollars, euros, Canadian dollars, Australian dollars, the British pound, Swiss franc, and Japanese yen deposits. The exchange supports credit card and wire transfer. EU residents can benefit from free and fast SEPA payments.
Alternatively, if you already own crypto, Kraken allows you to fund your account with these cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC) Qtum (QTUM), Cardano (ADA), Zcash (ZEC) and Monero (XMR).
Once you’ve funded your account, you can buy DOGE in under 10 minutes by clicking on the “Buy Crypto” tab.
Binance is one the largest and most popular crypto exchanges outside the U.S. It’s also been the world’s largest exchange by volume for several years now. Binance allows you to buy crypto through bank transfer, credit or debit card, peer-to-peer (P2P) trading, and through third parties depending on your country.
The exchange’s funding options include major currencies, such as the U.S. dollar, the British pound, the euro, Canadian dollar, Australian dollar, the Japanese yen, and a selection of minor currencies. Binance also allows you to fund your account with a raft of cryptocurrencies, including Bitcoin and Ethereum and the exchange’s own Binance Coin.
For U.S. residents interested in buying Dogecoin through Binance, there’s a caveat. Due to regulatory uncertainty, Binance does not allow U.S. residents to use the main platform. Binance has created an independent, U.S.-specific arm of the platform — Binance.US. Still, the Binance.US option is not available to citizens of Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont.
Despite being the biggest crypto exchange in the U.S., Coinbase only added support for DOGE in June 2021, citing requests from customers. Dogecoin fans in all of the countries with a Buy/Sell functionality can now buy DOGE on both Coinbase.com — Coinbase’s simpler trading interface — and Coinbase Pro, its trading interface for more experienced traders.
Coinbase was founded in 2012 and is the only U.S. crypto exchange that’s publicly listed. The exchange accepts credit and debit cards and bank transfers for deposits. That includes ACH and SEPA for U.S. and EU residents, respectively.
Founded in 2007, eToro is a social and copy-trading platform. Much like Coinbase, it only listed Dogecoin in 2021 after the cryptocurrency’s unstoppable rise.
EToro offers several funding options, most of which update your account balance instantly. Among eToro’s payment methods are:
Credit or debit card
These payments have certain limits for how much you can deposit. Bank transfers take between four and seven business days, but there is no limit for maximum deposits.
Once you’re registered, go to the Doge page on eToro and click on the “Trade” button. Select the amount of Doge you want to purchase and confirm payment.
Bitpanda is an Austrian-based crypto exchange launched in 2014. You can buy Dogecoin on Bitpanda via both desktop or mobile. On the desktop version, click on the “Trade” button, then click on Buy and select “Dogecoin” from the list.
On the mobile app, go to Portfolios on the app’s homepage, tap the “Buy” button and select Dogecoin Wallet. In the next screen, choose your funding wallet and confirm payment.
Bitpanda currently supports funding with just five currencies: USD, EUR, GBP, CHF, and TRY. Funding options include SEPA, Neteller, Skrill, Visa, Sofort, Mastercard, and bank transfer — depending on the currency.
Robinhood is a trading app popular for commission-free trading of several securities like stocks, exchange-traded funds (ETFs), options, and lately cryptocurrencies. Robinhood supports buying crypto on both web and mobile (iOS and Android).
To buy DOGE on the web version:
Navigate to Robinhood’s Dogecoin page.
Enter the amount you’d like to buy on the Order window on the right side of the page.
Click Review and confirm your order.
On mobile, download the Robinhood app, then navigate to Dogecoin’s detail page. Click on Trade, then Buy. Select Order Types from the pop-up and select DOGE. Tap confirm and swipe up to submit.
For purchases, Robinhood supports bank transfers as well as direct and automatic deposits. Be sure to fund your account a few days before buying Doge because processing bank transfers can take anywhere from three to seven working days.
Changelly is a Hong Kong-based crypto exchange that supports over 160 cryptocurrencies, including Dogecoin.
To buy Doge on Changelly, navigate to the Buy menu on the exchange’s site. Select how much you want to spend, then click Show Offers. Changelly lists all eligible sellers and their exchange rates.
Funding options include Visa, Mastercard, bank transfer, and Apple Pay. If you want a faster transaction, you can use a debit or credit card. Changelly does not require know-your-customer (KYC) verification to confirm your identity for such transactions. The only downside is there’s a maximum limit of $12,000 for card purchases.
Gemini is a U.S.-based crypto exchange owned by successful Bitcoin investors the Winklevoss twins. It’s one of the exchanges that jumped on the Dogecoin bandwagon just in 2021. You can purchase DOGE on Gemini with either USD, GBP, AUD, CAD, EUR, SGD, and HKD.
You can add funds to your Gemini account by wire transfer. Gemini also accepts Visa and Mastercard. If you opt to spend crypto instead, Gemini lets you exchange Doge with other cryptocurrencies including BTC, ETH, LTC, BCH, ZEC or FIL.
To buy Dogecoin:
Navigate to the currency’s details page.
Choose between one-off and recurring purchases.
Proceed and set the amount you’d like to spend, then click Confirm Order.
Bittrex is an exchange formed in 2013 that allows users to buy and sell both crypto and stocks.
Bittrex has two sites: Bittrex for U.S. residents and Bittrex Global for non-U.S. residents. When you access the site, you’ll be automatically directed to the correct site depending on your location.
To buy Doge on Bittrex, navigate to the Buy/Sell page. Select “I Want to Buy Dogecoin,” then enter the amount you want to spend in USD, USDT, EUR, ETH, or BTC. You can also pay using a Visa debit or credit card, which will incur a 3% transaction fee.
OKEx is a Seychelles-based crypto exchange that offers exchange and trading facilities and is accessible across the globe.
You can buy Dogecoin on OKEx from the Buy Crypto page using your Visa card. Other newly introduced payment options include Mercadopago, Yape, Plin, Bundle, Vodafone Cash, M-Pesa, Chipper Cash, FNB eWallet, Revolut, Interac e-Transfer, and Wise.
If you want more advanced options, you can choose spot trading. On OKEx, you can spot-trade the DOGE/USDT pair only.
OKEx offers complex trade options. However, the user interface is intuitive, making it easy to use these options.
Best Exchanges for Selling Dogecoin
Selling Dogecoin may not be as easy peasy as buying it. First, most exchanges restrict outbound transactions to mitigate fraud. Second, you might need to do a bit of research before finding an exchange with a good exchange rate.
Luckily, we researched some of the best places where you can trade in your Dogecoin.
Changelly is one of the best go-to exchanges for disposing of your DOGE whenever you need to. It’s one of the exchanges that have had to suspend trading the cryptocurrency occasionally to preserve liquidity due to its dramatic volatility, particularly in 2021.
At the time of writing, selling Doge is only available on Changelly Pro, which is Changelly’s more advanced trading platform. The downside is Changelly Pro might come off as too complex if you’re new to crypto trading.
You can sell as little as 8 Doge (at the time of writing) on Bittrex. This option allows you to sharpen your trading chops with small amounts, especially if you are just learning how to trade.
Bittrex allows you to receive either USD, EUR, ETH, USDC or BTC for selling DOGE. This can be done by either buying Doge on the exchange or transferring coins to Bittrex from another exchange or wallet.
Once you have some Doge in your Bittrex wallet, navigate to the Buy/Sell page. Specify how much DOGE you want to sell and select the currency for your payout. Review the order and confirm payment.
Kraken accepts Doge for BTC, USD and EUR. That means you can directly exchange DOGE for a popular currency without experiencing slippage losses. To sell Dogecoin via Kraken, you’ll need to create a deposit address if you don’t already have one.
If you’re selling DOGE for fiat money — USD or EUR — Kraken requires your KYC information and proof of residence.
4. Anycoin Direct (anycoin direct)
Anycoin Direct is a Netherlands-based crypto broker founded in 2013. Owners of DOGE who wish to offload their holdings can do so on the exchange’s Sell Dogecoin page. Place your sell order by specifying how much DOGE you want to sell and the currency you’d like to receive in exchange.
Supported exchange pairs for DOGE include EUR, XLM, ETH, ETC, NLG and QTUM and several other cryptocurrencies. However, a DOGE-USD exchange option is not supported at this time.
Binance P2P is Binance’s peer-to-peer exchange service that allows users to buy and sell to each other — at zero transaction fees. Note that network fees may still apply.
To sell Dogecoin on the Binance website, you have to choose among spot, cross, or margin trading. The “Sell” option is easily visible at the bottom of the Create Order page.
If you’re using the Binance App, select P2P on the homepage then tap “Transfer.” Proceed to Sell and select DOGE from the pop-up list. Choose a listing that’s to your liking, then tap Sell.
Because this is a peer-to-peer transaction, wait until you can see the buyer’s money in your account before you release the funds.
Coinbase allows you to buy, sell, or exchange DOGE. Selling gives you fiat currency in return, whereas exchanging gives you another cryptocurrency.
On a browser, tap the three dashes at the top right corner and click on Trade. Select Dogecoin from the pop-up list and click the Right-Left Arrow button to navigate to the Sell option. Select Sell and provide the required information about your order.
If selling is not yet supported in your region, Coinbase alerts you.
When you sell Doge for fiat money, Coinbase deposits the money directly to your Coinbase fiat wallet. From here, you can choose to transfer to your bank or buy some other cryptocurrency of your choice.
To sell Dogecoin on eToro, you need to open a contract for difference (CFD) trade. Then, click on “Instruments” to display all the assets you are currently trading. Next, select Dogecoin, upon which the individual positions for the trade are displayed. Click on the red X next to the position you want to close and wait for the request to be executed during market hours.
You also need to deposit at least $200 to start trading if it’s your first deposit, or $50 if it’s a subsequent trade.
Dogecoin seems unstoppable in 2021 as hype around it shows no signs of ending. Thankfully, if you want to dip your toe in the Dogecoin game, there’s no shortage of exchanges to do so. These exchanges support a wide variety of payment options and currency pairs so your DOGE exchange experience is seamless.
If you want to cash in on Dogecoin’s current boom, the above exchanges are your go-to options.