Buying and Selling Dogecoin in Today’s Modern World

One of the first questions that come up in a new Shibe’s life after they get their paws on a wallet, is “How do I get Dogecoin?” After the reality of faucets as a get-rich-quick scheme crumbles, a Shibe often asks where to exchange their Fiat (regular) currency for shiny new Dogecoins!

There are a couple of options, but the best answer to this question, in my opinion, is using an Exchange.

Dogecoin exchanges are safe, secure, and also happen to be the cheapest way to buy new Dogecoin. A lot of Shibes are taken aback however, when those exchanges ask for personal information. A person delving into the world of digital currency is understandably concerned with privacy, but one should look at these exchanges as more of a bank. You don’t mind giving your address, showing ID, or providing other personal information when you use a bank do you? Using a trusted exchange is like a bank. They have no choice but to conform to money laundering laws designed to protect against bad guys. To deposit fiat money into them, you will have to prove who you are. There’s no way around that. Without verifying your identity, you can’t use exchanges to trade Fiat money into Dogecoin.

There are, however, some exchanges that deal solely in digital currencies, like Coinspot. That way, if you already have some Bitcoins, or any of the other “alt” coins, you can buy Dogecoins without needing anything more than an email address.

I have also included the site Coinbase as an exchange, although it only allows you to buy Bitcoins*. I did this because a lot of Shibes (including myself) used this method to purchase Dogecoin. The idea is that you buy Bitcoins* with USD on Coinbase, and then transfer those Bitcoins* to another exchange like Coinspot to buy Dogecoins. *NOTE: Do to transaction delays on the Bitcoin network it is now suggested to buy LITECOIN or ETHERIUM, in place of Bitcoin.

The following list shows the current established Dogecoin exchanges. I’ve included various factors to help you choose which one is the right exchange for you. Keep in mind you may want to pick an exchange from your country of residence. There are particular tax rules regarding foreign held assets (at least in the U.S.) that can come along with significant penalties if you don’t follow the rules.

Also, a disclaimer: Where applicable I have included referral links to exchanges I use. The worst possibility you face from using one of these links, is saving yourself 10% on trades for six months, or in the case of Coinbase, receiving a $10 worth of free Bitcoins when you sign up and exchange $100 or more.

EDIT: New Additions current of 2018 :

Although they don’t support Dogecoin (yet) BINANCE and KuCoin are getting an incredible amount of volume.

They list all sorts of coins other exchanges simply don’t have. Check them out to convert some of your more exotic currencies!

NAME and URL DESCRIPTION FEES COUNTRY of ORIGIN ACCEPTED CURRENCIES VERIFICATION and FUNDING

Altquick The first USD-> Doge Currency exchange 0% sell 2% buy w/escrow USA USD, Doge->FIAT Bank or Credit Union Account

ANXPRO A Hong-Kong based mult-crypto exchange free for crypto; fiat is fee + 1% of withdraw Hong Kong

AUD, CAD, EUR, CHF, GBP, HKD, JPY, NZD, SGD, USD HKD or AUD Bank account or International wire transfer

Gate.IO Chinese-based multi-crypto exchange



previously BTER 0.20% CHINA Crypto Email

Coinbase Crypto Exchange and Merchant services (USD to BTC no DOGE) 1% from BTC to USD USA USD U.S. Bank Account

Kraken Now Supporting Dogecoin for our European Shibes % of trades current volume EUROPE EUR (Multi-tiered) Personal Identity info, Bank account, Proof of Residency, Social Security Number, UBO/AML, Articles of incorporation for large trades.

Swisscex Swiss based Crypto Exchange 0.15% buy 0.2% sell 0.1% withdraw Switzerland Crypto Email

Vircurex Multi-currency exchange One of the oldest, very selective with their alts 17 alts withdraw XDG= 5 Doge BTC= .002 RUSSIA Crypto (USD, EUR, soon™) Email, (Fiat Deposits coming soon)

Poloniex A fast, secure exchange where you can trade Bitcoins for a variety of promising cryptocurrencies .2% USA Crypto Email

Bittrex A security- focused Exchange based in the United States Per Individual Currency USA Crypto Email

CoinMkt U.S.-based multi-crypto exchange with attention to security and unique features Maker/Taker Structure (.25%) USA Crypto, USD Email, Photo/Address for higher tiers

Coinspot Australian based exchange with AUD -> Crypto direct purchasing and Escrow Services .8% Buy .3% Sell in Aud Markets



.01 Buy .01 Sell in BTC Markets Australia Crypto, AUD Email

Alternate Methods

Some Shibes may be unable or adamant about not giving out personal data. That’s understandable and fine! There’s other ways to purchase Dogecoin. However, be warned, you will pay a premium for your anonymity. The following purchase methods have been tested and are reasonably secure. They either rely on escrow services or are completely automated. Other than paying a little more, there should be no fear in purchasing from these entities.

Please note! There may be forthcoming issues with using Google Wallet. Please read this post and decide for yourself. More information: Here and Here.



NAME and URL DESCRIPTION FEES COUNTRY of ORIGIN ACCEPTED CURRENCIES VERIFICATION and FUNDING

Suchtrade Bot A reddit bot to purchase Dogecoin with



Market based Quote USA Google Wallet (USD)

Google Wallet



Localdogecoin Purchase Doge in your area User Negotiated Worldwide Paypal / Bank Account / Google Wallet PayPal, Google Wallet, Escrow services

Coinsachs Fast simple and reliable Dogecoin purchases Market based Quote Worldwide Credit Card and Debit Cards Credit Cards / Debit Cards

Simple account verification

Weselldoges Your own Dogecoin Trader Market based Quote Worldwide Paypal Paypal, Email, ID for higher amounts

Celery Celery is an online wallet and exchange for digital currency. 1% buy/selling brc, ltc & dogecoin using bank account.

10% fee for credit card or debit card USA USD US Bank or Debit Card Bank account for USD

Email for Crypto

Open Markets

The final way to purchase Doge is on the open markets. These are simply various forum groups where people trade person to person. Moderators in these forums have developed a flair system and blacklists in an attempt to minimize scammers and ripoffs . Be very careful here. Follow ALL the rules very carefully and double check all references and flair. Do not allow yourself to be bullied into changing the rules or straying from the order set by the forum. A good idea is to split up the transaction into multiple sends. Scammers have little patience for this, so if a person agrees they are probably a legitimate trader. Again be careful! If you are going to be scammed, this is where it is going to happen. I do not personally recommend using the markets if you are new to Dogecoin. That being said, it’s a quick, fast way to get your hands on Dogecoin. Also check out Cryptocurrency Times who published a great writeup on safely using markets.

http://www.reddit.com/r/dogemarket

http://www.reddit.com/r/CryptoTrade

Hack Method

I almost forgot. There’s one final “hack” to get your paws on some Dogecoin. This has worked for people on the Arab peninsula and other places where identity verification is tough. It also happens to be one of the original methods for buying Bitcoins when they first came out.

NAME and URL DESCRIPTION FEES COUNTRY of ORIGIN ACCEPTED CURRENCIES VERIFICATION and FUNDING

Virwox Virtual Currency Exchange used to buy Linden Dollars for exchanging into Bitcoin Fix fee + variable percentage USA EUR, USD, CHF, GBP , Paypal Credit Cards Ukash paysafe card Netteller Sofort Banking Paypal/ Bank Account

The idea here, is if you have a valid Paypal account, you use Virwox to buy Linden Dollars– the currency used in the virtual world, Second Life. After buying Lindens, you can trade those for Bitcoins, and then take your Bitcoins to a crypto exchange. Those are some hoops to jump through for sure, but it’s a great last resort to people having problems buying Doge elsewhere.

Here’s What I Use

So after all is said and done, someone will inevitably ask, “But which way is the best?” The answer is too complex to be simply answered. People look for different things, and each exchange offers something unique.

All I can offer is my view and experiences. I moved over some Bitcoins from Mt. Gox into Coinbase when I first started, and also purchased some Doge using my debit card. I wanted to get into trading quickly so the BTC was transferred over to Coinspot where I bought my first Dogecoins.

Cryptsy is was the biggest exchange for Dogecoin in terms of volume nack in the day. That meant more people traded there than anywhere else. If you wanted to buy or sell your order would be filled rather quickly. That being said, that same amount of volume in an exchanged is a double-edged sword. Too many people trading during peak hours can severely lag the system. Many a Shibe who thought could quickly make a trade have been left disappointed by the peak time lag spike!

My advice is to use a preset buy order at the price you feel good about. That way, when the market gets to that number, you are already waiting in line to buy and most likely your order will go through. You can do the same with a sell order if you have an idea of a top number you would like to sell at.

Because of my experiences locally in the states with lagging trades, I made the decision to diversify my exchanges. I got an account over at Gate.IO and Coinspot. This way, if things go awry over in the West a portion of my holdings at Gate.io or Coinspot will allow me to still buy and sell Doge. I like the speed and simplicity of Gate.IO’s interface. They are an Eastern market, so their peak times are different than Western exchanges which helps with a clogged trading time. There’s less volume there, but enough to trade with just fine.

I’ve played around with some of the other exchanges, and they are all fairly similar and competent. It’s really your personal choice, what currency or geography suits you. I do recommend diversifying into at least two exchanges.

For Canadians I recommend Coinsquare.

Be Ready

The most important thing to keep in mind is BE READY. Keep some BTC (BCH/ETH) in your account to buy more Dogecoin at a moments notice. The time it takes to transfer in and out of an exchange is NOT instant. I once waited 20 hours for a withdrawal to go through on a popular exchange. If you want to act quickly on a market fluctuation you best be ready and not have to wait on deposits.

That being said, do not use an exchange as a wallet. Have some cash to trade with, but any coins you are holding and not actively trading should be moved to an offline wallet. There’s always a chance of an exchange getting hacked, but with today’s two-factor authentication, and a host of other security features in place, an exchange is a pretty safe place for your Doge, at least while trading.

I hope this clears up the mystery of where to buy Dogecoin, and helps to simplify and present the many choices you have in buying it. This list will change and grow, but we will update it as things change. Feel free to bookmark the list in our Exchanges section.

Now go and buy a bunch of Dogecoin it’s so cheap!