Note! Your Dogecoin will be in your wallet between a few minutes and a few hours. We do our best to deliver your DOGE to you as quickly as possible, but there sometimes can be delays due to one of the following factors:
- Overloaded blockchain
- Dogecoin updates
- DDoS attack
That’s it – your DOGE should be in your wallet shortly!
Reasons to Buy Dogecoin Doge in Nigeria
Investing in Dogecoin in Nigeria may be a good venture due to the following reasons:
- Cheap and good for long-term investments: Dogecoin doesn't experience wild price fluctuations frequently. It’s still relatively cheap to buy. That makes it suitable for beginner investors who just want to buy, hold, and wait.
- Strong use case: DOGE is becoming a mainstay cryptocurrency used for regular transactions. It has a high daily trading volume, indicating its popularity. The developer team is on a quest to speed up transactions and make the network very stable.
- It adheres to crypto fundamentals: Dogecoin appeals to some investors and users because it follows what may be regarded as cryptocurrency fundamentals. For instance, it uses the proof of work consensus mechanism, meaning that it can be mined. It’s an older and experienced crypto project as it was launched in 2013.
Where can I buy Dogecoin?
Figuring out how to buy Dogecoin from Nigeria is nothing to worry about anymore. Many platforms cater to residents and offer them a chance to purchase cryptocurrencies online. Some of the platforms include:
These crypto markets bring together individual buyers and sellers. A P2P platform may offer an escrow service, holding the coins in their accounts before releasing them to the buyer once the seller confirms payment.
The category comprises crypto exchanges that utilise an order book style to facilitate crypto transactions.
Broker platforms offer extra convenience when buying Dogecoin. Before undertaking any crypto transaction with a cryptocurrency exchange, evaluate their trustability.
For instance, Changelly sources the quotes from on-ramp exchanges and helps customers select the cheapest price point.
Ideally, the exchange platform should be non-custodial, giving buyers complete control of their digital wallets. It should offer live support and have a wide user base.
Is Dogecoin legal in Nigeria?
Dogecoin and other crypto assets happen to be legal in Nigeria. However, the Central Bank issued a circular in 2021 advising banks not to trade cryptocurrencies or facilitate payments to crypto exchanges.
The limitation has done little to dampen the popularity of cryptocurrencies across the country. About 30 million residents had engaged with cryptocurrencies. Over 70% of Nigerian crypto investors further said that they were looking forward to increasing their crypto holdings.
What is the cheapest way to buy DOGE in Nigeria?
How do I buy Dogecoin at the best rate? The best advice is to evaluate offers and fees charged by different crypto exchange platforms and brokers. That's because a platform may claim that they are offering the best deal as part of its advertisement.
Consider all potential fees on the platform, both known, hidden, or future. For instance, a platform may quote a low rate. But after purchasing and storing DOGE in their custodial wallet, they may then impose a high transfer fee and limit the minimum amount buyers can take out.
Again, don’t select a platform because it’s a cheap way to buy Dogecoin. Remember to evaluate its reliability and security to avoid the risk of losing your money.
Getting the best rate on Changelly will be quite easy. Our calculator will highlight the most favourable offer and recommend the most suitable purchase amount for the highest yield on your Dogecoin.
How can I sell my Dogecoin?
Experiencing trouble trying to sell Dogecoin for fiat currency? The coin is not as popular as BTC, Ethereum, or Tether. So, many crypto exchanges may not offer direct conversions.
So, the only way is to perform a multiple-step conversion. Instantly exchange DOGE to popular altcoins on our platform. We also support fiat currency conversions on tokens such as BTC, ETH, and BAT. So, use Changelly to buy and sell crypto, and exchange DOGE for other coins without leaving the platform.
How much does Dogecoin cost in Nigeria?
The cost of Dogecoin tends to fluctuate on a minute-to-minute basis. Reference our live chat for the current Dogecoin price in Nigeria.
*Live rates may not reflect all the fees incurred during the transaction.
How can I buy Dogecoin with the fees included? Well, initiate a new transaction on our website and see the final rates charged by our partners.
What are the taxes to buy DOGE in Nigeria?
Nigerian residents don't have to pay any value-added tax when purchasing Dogecoin and other cryptocurrencies. However, they may be liable to pay income or capital gains tax after disposing of DOGE.
Cryptocurrencies are considered commodities and property for tax purposes. Any profits may be subject to a 10% capital gains tax.
Traders who derive most of their income from trading activities may pay income tax on profits from DOGE trades.
*Caution: This doesn’t qualify as legal advice. We recommend seeking additional instruction from a qualified tax professional.
Can I trade Dogecoin in Nigeria?
Trading cryptocurrencies in Nigeria is still uncertain, following the directive by the Central Bank of Nigeria on February 5th, 2021, for banks to halt accounts belonging to entities transacting cryptocurrencies in their systems.
The central bank's position has largely been that digital currency is mostly used for money laundering, tax evasion, and terrorism financing. However, no law has been enacted to classify cryptocurrency trading as illegal. It's only that the CBN is pursuing a tough stance by advising banks not to deal with crypto transactions.
A large part of the population continues to use cryptos to send payments, conduct business, and hedge against inflation.
So, where can buyers trade Dogecoin? You can use Changelly Pro for trading activities.
Can I buy Dogecoin with PayPal?
Wondering how to buy Dogecoin in Nigeria with Paypal? Well, PayPal offers users a convenient way to make online payments from their PayPal balance or linked bank cards. It’s popular for eCommerce transactions, but a limited number of exchanges support PayPal payments.
So, it is difficult to buy Dogecoin using this payment gateway. We currently don't support PayPal.
Can I buy Dogecoin with a credit card?
Yes, purchasing DOGE using a credit card or debit card on most crypto exchange platforms is possible. Still, watch out for any alerts from the bank as the CBN directive is still in place.
Wondering where to buy Dogecoin with a credit card? Use Changelly for the purchase. If the payment or bank transfer fails to go through, the funds will be safe.