Buy Dogecoin in Canada
Dogecoin made simple
Everything you need to know about Dogecoin and how to start investing in it.
-$0.02 (-7.96%) past 24 hours
- Market Cap
- Circulating Supply
- Total Supply
- 24h low - high range
- 0.1823574 - 0.2120172
- 7 day low - high range
- 0.186 - 0.2662326
- 52 week low - high range
- 0.00840021 - 0.9103732
Dogecoin (pronounced like “dohj-coin”) was created in 2013 by Jackson Palmer and Billy Markus, software developers who created the cryptocurrency as a way to poke fun at the cryptocurrency industry. Although Palmer left the project in 2015 due to its “toxic community”, the Dogecoin community still has a loyal fanbase in 2021.
Why Wealthsimple Crypto?
Wealthsimple Crypto lets you buy and sell cryptocurrencies all in one easy-to-use app. And as Canada’s first regulated crypto platform, you can trust that your coins are in good hands. How simple is it?
Sign up in minutes right from your phone or laptop
Start trading crypto with as little as $1
No account minimums
No clunky dashboards — just one super simple app
Best of all: you don’t need to be an expert in crypto or blockchain to get started
What can you do with Dogecoin?
Dogecoin functions much like Bitcoin—a decentralized cryptocurrency payments network that’s useful for peer-to-peer transactions. In fact, Dogecoin is based off Litecoin, which is itself based off Bitcoin.
Because it’s so lightweight, you might find some sites (like Twitch) that accept DOGE as a way to tip creators.
Some crypto-friendly companies (like gaming sites or VPN services) accept Dogecoin, too. And there are a handful of retailers outside the internet world who accept it as payment. Because it’s so hyped, a few brands have joked (we think?) about supporting Dogecoin one day.
Is Dogecoin a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Dogecoin or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.
How we keep your Dogecoin safe
As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Gemini Trust Company LLC and Coinbase Custody) for cold storage.
FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best Dogecoin prices.
And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.
If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your Dogecoin to your Wealthsimple account in just a few taps.
Other cryptos to explore
More info about Dogecoin
Want to take a deeper dive? Check out these articles about Dogecoin and the world of crypto.
What is Cryptocurrency?
Heard about cryptocurrencies but not sure what they are? We’ve got you covered with this introductory guide.
Top Cryptocurrencies and Crypto Exchanges
A beginner’s guide to understanding the thousands of cryptocurrencies and dozens of cryptocurrency exchanges
What is Blockchain? The Ultimate Guide
A quick primer on the building blocks needed to understand the basics of blockchain
Ready to get started?
Download the Wealthsimple Trade app, create your account, and start trading Dogecoin with just $1. It’s that simple.
Dogecoin is the OG meme coin, a currency based entirely on an internet joke. Even though it wasn’t meant to be taken seriously, DOGE has seen some big increases in value (with subsequent dips, too).
At its peak in May, Dogecoin hit a market cap of $90 billion. It’s currently the tenth most valuable cryptocurrency by market cap.
Since Dogecoin lacks a supply cap, there are more than 129 billion DOGE available, with 10,000 new coins mined every minute.
There’s a handful of retailers that accept Dogecoin as payment — including the Dallas Mavericks and Air Baltic.
Some sites like Twitch accept DOGE as a way to tip creators on the platform. Makes sense, given that Dogecoin is rooted in internet culture.
Still, there aren’t a ton of ways to spend Dogecoin outside of the internet world. It’s self-proclaimed as the “fun and friendly internet currency,” so many crypto-curious investors use it as a starting point into the world of cryptocurrency, knowing that it’s prone to volatility.
Yep! When you open a Wealthsimple Crypto account, you can get started with anywhere from $1 to $1,500 instantly.
Buying Dogecoin with Wealthsimple is, well, simple. The first thing you need to do is open and fund a Crypto account in the Wealthsimple Trade app. You can connect your bank account and add up to $1,500 instantly.
From there, follow these steps: 1. Tap the magnifying glass icon in the top right corner of your screen 2. Type in Dogecoin 3. Tap Buy 4. Enter the dollar value of cryptocurrency you'd like to buy and tap Continue 5. Review the order details and tap Confirm order
You can choose between two different order types when buying Dogecoin. A market order lets you buy or sell crypto immediately at the best available price at the time. A limit order lets you buy or sell crypto at a specific price or better.
You can withdraw funds from the cash balance in your Crypto account and move those funds to your bank account. Withdrawals typically take around 2 - 3 business days.
The current price for Dogecoin in Canadian dollars is $0.18.
Dogecoin’s current market cap is 25,261,203,705.
Generally speaking, the CRA treats cryptocurrencies as a commodity. Here’s what they say:
Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances. Similarly, if earnings qualify as business income or as a capital gain then any losses are treated as business losses or capital losses.
Always keep solid records of any Dogecoin transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
A crypto wallet — often called a “hot wallet” — is a location for holding crypto “on-chain” (i.e. linked to the blockchain versus off-chain cold storage.) Many users use wallet applications to help them manage their blockchain addresses, since each chain uses its own addresses.