Buy Dogecoin (DOGE) in Canada with CAD with Lowest Fees

Is it Legal to Buy Dogecoin in Canada?

Dogecoin is probably one of the most famous cryptocurrencies ever. Similar to Bitcoin, Dogecoin (Doge) seems to be on everyone’s lips in the crypto sphere. Enthusiastic posts of Elon Musk on social media helped to create a strong Dogecoin community, setting Doge’s price on a meteoric rise of more than 7,000% during the 2021 year. Although the value of the world’s first meme cryptocurrency has dropped by over 70% from its all-time high of nearly 78 cents per coin since then, Dogecoin continues to be of interest to crypto investors.

Software engineers Billy Markus and Jackson Palmer launched Dogecoin in December 2013. It is a peer-to-peer, open-source digital currency with Scrypt technology, and it runs on its own blockchain called Dogechain, which, in turn, is a modification of the Litecoin chain. 

Dogecoin differs from other cryptocurrencies like Bitcoin, as there is no finite supply of how many coins can be mined. Despite its minuscule price of less than a dime and extreme volatility, Dogecoin is among the largest cryptocurrencies by market cap. 

Canadian crypto enthusiasts and investors may wonder whether it is legal to buy Dogecoin (Doge) in Canada. There is no cryptocurrency ban in the country, and digital assets like Dogecoin and Bitcoin are legal in every Canadian province. 

You can engage in Dogecoin buying, selling, and trading with peace of mind. In February 2021, Canada launched North America’s first Bitcoin ETF (exchange-traded fund) called Purpose (ticker BTCC), which was a great success.

Although Canada is open-minded toward cryptocurrencies and does not prohibit activities with them, Dogecoin is not legal tender there. Only coins issued by the Royal Canadian Mint and banknotes issued by the Bank of Canada are considered legal tender in the region. This means Law does not legally recognize Dogecoin in Canada to act as a valid payment for debts and financial obligations.

Best Ways to Buy Dogecoin in Canada Safely

The best way to buy Dogecoin (Doge) in Canada is through a reputable crypto exchange, that will provide a secure and convenient environment for your trading operations. The best platforms will offer you an intuitive experience of buying crypto, where you can benefit from swift transaction speeds, minimal trading fees, and a plethora of supported payment methods to use fiat currencies. 

Before buying Dogecoin, it is vital to get a suitable hardware or software crypto wallet that will hold your private keys. Private keys are secure codes that enable the holder to access the Blockchain and make cryptocurrency transactions.

Remember that purchasing Dogecoin for fiat, such as Canadian dollars, is only possible on centralized crypto exchanges. Decentralized platforms do not support fiat-to-crypto payments — they are only good for crypto-to-crypto swaps. 

Centralized exchanges have a Know Your Customer (KYC) requirement where you need to verify your identity. This ‌involves providing your full name, government-issued ID, and residential address to the platform. Once the cryptocurrency exchange has verified you, you are ready to buy Doge in Canada or any other cryptocurrency of your choice. 

Explore the market and find a trading platform with an array of features, low fees, and paramount security measures. Or, go directly to Changelly, which has it all. 

How to Buy Dogecoin with Credit and Debit Card

Buying Dogecoin with a credit or debit card is possible on crypto platforms that have an on-ramp feature (an opportunity to accept fiat as the payment for crypto assets). Changelly is exactly this type of exchange. Once you have signed up and passed KYC, you can use the service of your selection to buy Dogecoin in Canada. 

Note that almost every trading platform will request a wallet address where it can send your Dogecoin. Here, you will first need to set up a wallet and get a Dogecoin address before buying electronic coins. Some trading platforms can operate without requesting external wallets and transfer the purchased crypto to the in-built (on-platform) storage in your dashboard.

Once you are done with these formalities, you can go ahead with purchasing Dogecoin with a card. This requires you to provide the card number, cardholder name, validity date, and CVV code. 

After entering the card details, you need to specify the amount of Doge you would like to get or the amount of fiat money to spend on digital coins. 

Once you have reviewed and confirmed the transaction, the purchased Doge will shortly be deposited into your wallet address.

How to Buy Dogecoin with Bank Transfer in Canada

Most crypto exchanges with on-ramping, including Changelly, allow customers to buy Dogecoin Canada using wire transfers as a preferred payment method. 

When buying Doge or other cryptos, most Canadians choose to pay with Interac e-Transfer because it is a familiar, intuitive, and quick way to send CAD securely from their bank account to purchase digital currencies. 

Interac e-Transfers are available for individuals who use the online banking services of Canada’s biggest banks, such as Bank of Montreal (BMO), Bank of Nova Scotia (Scotiabank), Royal Bank of Canada (RBC), and others. 

If your local bank does not participate in Interac e-Transfer, you can still purchase Doge using a bank transfer, although such transactions may take up to several business days to deposit funds. The completion of the KYC procedure is also required for a bank wire on most cryptocurrency exchanges. 

How to Buy Dogecoin with Apple Pay in Canada

Changelly is one of the few cryptocurrency exchanges that enable Apple Pay deposits. This offers our customers an effort-free yet secure way to buy Dogecoin in Canada. When you sign in to your Changelly account on a device that supports Apple Pay, our platform will automatically suggest using this payment system when you start buying Dogecoin for fiat money. 

How to Buy Dogecoin from ATM in Canada

Buying Dogecoin (Doge) from an ATM is not a problem in Canada because there are nearly 3 thousand crypto ATM installations scattered throughout the country. These internet-enabled machines not only allow you to buy Doge with cash but also sell crypto for fiat currency, such as CAD or USD. 

Crypto ATMs connect directly to blockchain networks, allowing you to purchase digital coins or sell crypto holdings from your wallet. You only need to find a crypto ATM near you, while the process of buying Dogecoin is absolutely straightforward: 

1. If the ATM supports multiple cryptocurrencies, select Dogecoin (Doge) from its inventory;

2. provide the wallet address you bring along with you (if it is in the form of a QR code, the machine can scan it using the built-in camera);

3. insert cash that will be converted into Doge;

4. review the transaction and complete it. Coins are generally delivered instantaneously but may take anywhere between 10–30 minutes sometimes.

Note that identification may be required if your transaction exceeds a certain cash amount. Crypto ATM terminals tend to charge higher fees for fiat-to-crypto conversions compared to online exchanges.

How to Buy Dogecoin with PayPal

Although PayPal is an international e-payment system, its functionality is still not available for most cryptocurrency exchanges and trading platforms in Canada. That makes it tricky to buy Dogecoin with PayPal. However, you can resort to peer-to-peer marketplaces, where you can find a counterparty who will sell Doge to you, accepting PayPal as a money transfer means. 

How to Buy Dogecoin with Prepaid Card

Prepaid cards are popular ways to purchase Dogecoin. You load your prepaid card with cash when you first buy it and replenish its balance when the money is exhausted. Prepaid cards do not let you develop debt on them. Such a card only allows you to pay for goods or services with the money you actually own.

The crypto sphere is replete with platforms that let you buy Dogecoin with a prepaid card. The process is the same as purchasing Doge with a debit or credit card: you just need to make sure you have sufficient funds at your disposal to complete a trade. 

How to Buy Dogecoin with Cash in Canada

There are several ways you can use cash payments to buy Dogecoin in Canada:

• Paying with physical banknotes in person. If you know some reliable person who is willing to trade Dogecoin with you for some cash, make a deal with them and provide the required amount in person. Be sure to set up your Dogecoin wallet first. You should also bring your smartphone or laptop along to check the delivery of Dogecoin assets on the spot. 

• OTC matching. There are over-the-counter matching services that work like Google Maps for Dogecoin trading. You need to create an account with a credible OTC crypto platform, specify your location, and set your requirements. The service will display a list of crypto buyers and sellers in your area, their reliability score, and contact details, so you can safely buy or sell Doge for cash with them.

• Peer-to-peer trading. There are both specialized marketplaces and international cryptocurrency exchanges offering P2P trading through such services, you can easily find a Dogecoin seller, negotiate a deal with them, and complete a purchase using a preferred payment method by mutual agreement.

• Bank cash deposits. You can go to a bank office and pay your Dogecoin seller by sending a cash deposit or a bank draft to their bank account. Make sure you keep a record of your physical receipt if it comes down to proving your deposit.

Can Foreigners Buy Dogecoin in Canada?

Because cryptocurrencies are perfectly legal in Canada, anyone can purchase them, including non-residents. The Canadian government website even has an official page dedicated to digital currencies. It states that people in Canada can use cryptocurrencies to purchase services or goods from retailers that accept crypto. It is also allowed to buy and sell cryptocurrencies on online exchanges, similar to the traditional stock market. While crypto is not considered legal tender, both nationals and foreigners are free to trade, buy, and sell Dogecoin and other cryptocurrencies. 

Who Accepts Dogecoin in Canada?

Given Dogecoin’s growing popularity and profound support from such celebrities as Elon Musk and Mark Cuban. Many businesses and brands in Canada are accepting Dogecoin as a form of payment.  Here are some companies that allow you to pay with Doge:

• Tesla. The legendary maker of electric cars is among the first companies to begin accepting Dogecoin for their company’s merchandise.

• Travala.com. It is a decentralized booking service for hotel stays and flight tickets that allows payment with cryptocurrencies, including Dogecoin (Doge). 

• Newegg. It is a globally known supplier of computer and electronics products.

• Nordstrom. It is a popular online store offering clothing, accessories, and furniture from popular brands with worldwide shipping.

• Lowe's. It is a large retailer offering a huge selection of home improvement products, including appliances, furniture, patio, and much more.

How to Cash out Dogecoin in Canada?

The opportunity to cash out Dogecoin in Canada will depend on the crypto platform you use. In some instances, you can sell Doge for cash directly and withdraw your money to your bank account or another payment system.

In other cases, you will first need to trade your Dogecoin for a major cryptocurrency, such as Bitcoin or Ethereum, and then proceed with cashing your electronic possessions out. 

Trading Dogecoin for other cryptocurrencies is done through the spot market — the place where buyers and sellers publish their bids for Doge on the open market. This allows you to sell Dogecoin with lower fees compared to the instant sale because you can set your specific price for a trade. 

On the spot market, you can trade Doge with several types of orders:

• Market order. This enables you to buy or sell Doge at the current price.

• Limit order. With this order type, you trade Dogecoin at your specific price. Traders use this scheme to time the market and take advantage of price spikes and falls.

Advanced traders can try additional order types to buy and sell Dogecoin, such as a stop order, stop-limit order, and trailing stop. If you are going to invest in crypto coins, you need to get acquainted with different order types and understand how they work. No one can guarantee that Dogecoin is a good investment. Consider the inherent volatility of crypto assets before you invest your hard-earned finances in them.