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Twelve years ago a Japanese school teacher was responsible for uploading a funny picture of a Shiba Inu dog on the internet, and it immediately became a phenomenon all over the world.
Following that, in 2013, two software engineers decided to create a digital coin based on the meme in order to make a joke on the cryptocurrency industry.
Despite having a lot of highs and lows along the way, they had no clue at the time that it would build a following and start fetching a decent value by the year 2020, despite going through a number of highs and lows along the way.
Dogecoin, abbreviated as DOGE, is a decentralized, open-source, peer-to-peer digital currency that was first released in 2013. There is no cap placed on the total amount of DOGE that may be exchanged on the market at any one time.
There may already be more than 130 billion DOGE coins in circulation at this point, according to some estimates. This is the case despite the fact that Dogecoins are subject to a greater number of limitations than other cryptocurrencies, such as Ethereum or Bitcoin, and despite the fact that they are not used nearly as often.
Proof-of-work consensus is used in Dogecoin in a method that is similar to that of Bitcoin in order to achieve the issuance of new DOGE, the confirmation of transactions, and the validation of blockchains for mining purposes.
All of these objectives are performed in the same manner. This resulted in the development of the idea of “merge mining” in 2014, which includes combining mining operations for Litecoin and Dogecoin.
There is presently no such thing as exposure to dogecoin, despite the fact that there are avenues for investors to get access to crypto assets, such as through mutual funds or exchange-traded funds (ETFs).
The only option for investors to acquire dogecoin is to retain it in their own wallets, and the easiest way to do so is via the use of a cryptocurrency trading platform. Investors can only buy dogecoin through this means.
There are a few websites, some of which are located in Canada and others of which are located in the United States, that allow the purchase of cryptocurrencies using Canadian dollars easily.
It is important to perform a careful analysis of the terms and conditions, features, safety standards, technology, transaction fees, financing options, and transfer and withdrawal processes that are provided by each platform before you make a purchase on any of them.
This should be done before you actually buy anything. An example of a platform that rates highly on a number of these characteristics and is considered to be among the best is CoinSmart*, a publicly listed company (ticker symbol SMRT) that allows purchasing, holding, and selling dogecoin and a variety of other cryptocurrencies.
CoinSmart* is an example of a platform that is considered to be one of the best. The advanced security system that is made available by the platform protects the assets of investors against the possibility of cybercrime and the theft of cryptocurrencies.
The overwhelming majority of CoinSmart’s funds are held in offline “cold wallets,” which are safe storage facilities that are not connected to the internet and retail investors’ private keys to their assets.
It is widely accepted that cold storage is the safest and most cutting-edge solution currently available for keeping dogecoin and other cryptocurrencies out of reach of would-be criminals.
This is because cold storage requires the use of an offline computer. Simply registering for an account on CoinSmart and having it swiftly approved is all that is required to get started using the platform.
After that, you will have the ability to fund your CoinSmart digital wallet by initiating an electronic funds transfer from your Canadian bank account.
When you make a purchase at CoinSmart, in addition to being able to pay with a bank draft or credit card, you are also given the option of paying using bitcoin that you already own.
The amount of any deposits made will be credited to your CoinSmart account on the same day that they are received, regardless of when they were made.
Through the use of the Advanced Trade feature, experienced traders are granted the power to modify the parameters of their orders, giving them more control over their trading experience.
The incredible pricing structure of CoinSmart imposes either little or nonexistent costs for all types of transactions, including trades, deposits, and withdrawals.
One of the perks of investing in DOGE is that it gives you the opportunity to engage in day trading with cryptocurrencies. Taking advantage of the volatile state of the market might result in financial benefits.
You will have the chance to buy DOGE if you perform research on cryptocurrencies and learn about the possible expansion of the market for them. When you do this, you will also learn about the potential development of the market for other cryptocurrencies.
If your prediction turns out to be right and the price of Dogecoin starts to climb, you will be able to convert your Dogecoin holdings into a cryptocurrency that is more reliable, such as Tether or USD coin, in the event that the value of Dogecoin begins to rise.
After the price of the cryptocurrency begins to fall as a result of short-term investors selling off their holdings, you will be able to convert your stablecoin back to DOGE. This will be possible as soon as the price of the cryptocurrency begins to fall.
You would end up with a larger amount of dogecoins as a consequence of this action. Due to the high degree of price volatility, even little fluctuations in price have the potential to result in big rewards for intelligent investors who have a solid understanding of how investments function.
One of the benefits of using DOGE as a cryptocurrency is that it is becoming more popular among users of social media sites such as Reddit, WallStreetbets, Twitter, and Facebook. If you pay attention to the feeds and discussions that are being created by people who own Dogecoin, you will be able to forecast the direction that the price of Dogecoin will go in the future.
Your attention has been drawn to the fact that there will soon be a large rise in expenses by a number of the comments. There are further notes that bring to your attention a price drop, which is an event that is adverse for investors who have a short-term vision since it means the price will be lower.
The same fall in price may also lead to a rise in trend, just as DOGE reaching new high lows may lead to wide interest in price reaching new high highs. Both of these outcomes are possible in response to the same downward pressure on prices.
One of the many reasons why investing in dogecoin is a smart idea is because of Elon Musk. It is very difficult to establish a causal relationship between the price of a cryptocurrency and any external factor, such as a tweet or an interview with a tech entrepreneur.
Regrettably, the man known as the “Dogefather” has garnered quite a notoriety for himself in connection with the introduction of DOGE as a kind of currency that can be utilized in financial dealings. Furthermore, because of his advocacy of the coin, there has been a boom in interest, which has led to a number of exchanges selling the cryptocurrency for trading and investing reasons.
This is a direct outcome of his actions. The enormity of Elon Musk’s impact may be grasped from just this one example alone.
It is anticipated of leaders that they will provide a positive example for those who follow them. Sadly, the dogecoin network is not observing anything like this at the moment. Billy Markus, one of the co-founders of the firm, used the money from the sale of all of the dogecoins he had at the time to purchase a Honda Civic in the year 2015.
In December of 2017, Charlie Lee, the creator of Litecoin, participated in a procedure that was quite similar to the one described above, which generated worries about the potential of the asset in the event that its leader decided to sell his holdings.
People will question your ability to innovate in the future and form partnerships if you do not own a significant percentage of your invention. Both of these factors have the potential to drive up the price of the cryptocurrency.
So if you do not own a significant percentage of your invention, people will question your ability to innovate.
Instead of the people who should be making the decisions that affect that value, the value of the digital asset is now being driven by followers of social media platforms and a small number of noteworthy individuals. This is in contrast to the people who should be making those decisions.
Investment stories produced on a wide variety of financial news websites place an undue amount of emphasis on the humorous component of the meme money, to the detriment of any developments that might be considered really groundbreaking.
It’s not hard to imagine that the creators of Dogecoin wanted to poke fun at the success of other cryptocurrencies like Bitcoin and Litecoin when they came up with the idea for Dogecoin.
When a market is saturated, major innovation will always follow, and this innovation has the ability to enhance adoption and integration rates of the digital asset. When a market is saturated, significant innovation will always follow.
Because there is so much enthusiasm around cryptocurrencies, any enhancements to its underlying technology in the form of decentralized financial apps have the potential to considerably push up the price of those cryptocurrencies.
The company that goes by the name Pump and Dump has been operating for a considerable amount of time. On crypto exchanges that are controlled by the government, doing so is against the law. This has not considerably diminished the influence that it has on the market as a whole because of the decentralized nature of the bitcoin market.
Pumping is the process that takes place when a large number of people get together to purchase a considerable amount of a certain currency; in this case, dogecoins. As a consequence of this fact, the asset’s value has greatly grown as a result.
They wait until the price of the assets is far higher than the price at which they got them, at which time they sell the assets to other bidders and earn a significant profit off of the sale of the assets.
If you are interested in learning how to acquire Dogecoin, one of the most crucial things you need to know is the initial investment that is necessary. This is because it is one of the most critical things that you need to know in order to purchase Dogecoin.
There is a possibility that the price of Dogecoin may change drastically from one hour to the next. The cost of it is established by a variety of factors, including those that are political in nature, economic in nature, and geographical in nature.
A high degree of volatility may now be seen throughout the cryptocurrency trading industry. At the current exchange rate, one Dogecoin can be purchased for 0.080 Canadian dollars.
In order to buy Dogecoin in Canada, you will first need to choose a cryptocurrency exchange that is suitable for your level of expertise. Only then will you be able to make the purchase.
The most reputable cryptocurrency exchanges in Canada provide trading services that are not only inexpensive but also characterized by a high degree of safety and a positive reputation. There is a discussion of these three farther down.
Bitbuy is highly recommended as the ideal spot for crypto newcomers to get their feet in the Canadian market.
The fact that Bitbuy’s headquarters are located in Toronto, Canada, distinguishes the company from the other investment possibilities available to Canadians. Over 400,000 individuals in Canada make use of Bitbuy.
If you are just getting started in the world of cryptocurrencies, it may be reassuring to begin your journey at a location that is quite near to where you live. In addition to this, the Ontario Securities Commission is responsible for monitoring Bitbuy, and the company is registered with FINTRAC as a money service business (The Financial Transactions and Reports Analysis Centre of Canada).
These two organizations may both be found in the country of Canada. As a result, when it comes to legislation that is produced on a local level, Bitbuy is among the finest accessible solutions. When it comes to matters pertaining to finance and investments, Canadians are most worried about the subject of government oversight.
It is always preferable to stay firmly on the right side of current laws, and with Bitbuy, you can be certain that you are doing so. This is because being on the right side of the law is always preferable.
This is owing to the fact that Canadian authorities and banks have, traditionally speaking, maintained a skeptical attitude toward crypto in general. (Always bear in mind that making use of a cryptocurrency exchange and acquiring any form of cryptocurrency, including Dogecoin, is completely legal in Canada.)
When it comes to the procedure of making deposits in Canadian dollars, Bitbuy is a breath of new air, and for good reason (CAD).
If you satisfy the service’s low minimum deposit requirement, you’ll be able to fund your Bitbuy account utilizing Canada’s very own Interac e-Transfer service with as little as $50. This is provided, of course, that you fulfill the service’s low minimum deposit requirement.
It will take between one and four hours to process your deposit, and there will be a fee of one and a half percent of the amount of the deposit.
However, if you use a bank wire to make a deposit of at least $20,000, you have the opportunity to take advantage of a significantly reduced deposit fee of just 0.5 percent. As soon as the legitimacy of your financial resources has been established, you will be able to make an investment in dogecoin.
No matter what cryptocurrency is being bought or sold, the fee rate on Bitbuy remains constant at 0.2 percent. If you have more than $50,000 to invest in the cryptocurrency market, you may use the Over-The-Counter service that Bitbuy offers in order to take advantage of the reduced spreads on the values of cryptocurrencies.
By offering a user-friendly platform that makes it easy to buy and sell cryptocurrency, Coinberry is streamlining the process of buying and selling Dogecoin in Canada. Since 2017, Coinberry has been operating, and the company has established several partnerships with well-known businesses.
These partnerships have assisted Coinberry in establishing a solid reputation in the cryptocurrency industry. They are also registered with FINTRAC as a Money Services Business, which gives their business an extra level of trustworthiness.
The Financial Transactions and Reports Analysis Centre of Canada is more often referred to as FINTRAC.
Coinberry not only ensures the most favorable price environment possible for purchasing or trading Dogecoin and the other assets that are offered, but it also enables you to set up an account here in a matter of minutes and validates the KYC information that you provide.
This is a significant advantage over other platforms. They are one of the most cost-effective sites for purchasing Dogecoin in Canada, and you may do so using your debit or credit card, a wire transfer, or an Interac transfer from your bank account.
The trading charge is just 0.5 percent, and there are no fees related to making deposits or withdrawals of money. It is essential to bear in mind, however, that in their function as market makers, they will impose a spread on the asset.
This is something that must be kept in mind at all times. Coinberry, in general, provides a service that is reliable, very user-friendly, and secure while charging fees that are among the most competitive in the market.
Despite the fact that CoinSmart has only been in business since 2018, the company has already established a solid reputation for being a trustworthy and transparent exchange that has solid support and reliability, and it is one of the top exchanges where you can purchase Dogecoin.
CoinSmart is also one of the top exchanges where you can buy Bitcoin (DOGE). It is immediately heartening to find out that CoinSmart was founded in Canada and has its offices in Toronto given that Canada has some of the tightest standards in place for the safety of users.
CoinSmart’s headquarters are located in Toronto. The exchange now joins all of the other members of the Canadian Securities Administration after recently being awarded limited dealer registration by the Ontario Securities Commission.
The National Financial Transactions and Reports Analysis Center of Canada (FINTRAC), which is Canada’s national financial intelligence agency, classifies the exchange as a money services firm and mandates that it retain its registration.
In addition to this, the company is publicly listed on the Canadian NEO stock market, having made its debut during the month of November 2021.
This listing, in conjunction with the numerous regulatory frameworks that CoinSmart already has in place, ensures that they provide one of the most open and well-regulated environments for trading cryptocurrencies, not only in Canada but also around the world. This environment is not only available to people in Canada.
On the online cryptocurrency exchanges Bitbuy and Coinsmart, you may make a purchase of Dogecoin using either a credit card or a debit card.
Bitbuy, a cryptocurrency exchange in Canada, does not support the use of credit cards for making transactions. However, you are allowed to utilize Interac e-Transfer to transfer Canadian dollars straight from your bank account.
At the moment, PayPal operates its own cryptocurrency service on the company’s internal network. You are unable to withdraw it, but you can put it toward investments in important cryptocurrencies like Bitcoin (BTC) and Ethereum.
People often have a range of reactions when it comes to the idea of utilizing PayPal for their financial dealings because of this. Users in Canada, for example, have the option of topping up their Newton credit card using PayPal, but they are unable to do so using their account that is denominated in fiat currency.
So Newton does not currently offer PayPal as a way for depositing fiat cash, thus you cannot use PayPal to fund your account with that exchange.
Dogecoin is a kind of virtual money that was first conceived of as a practical joke between two friends who were employed in the software business. Putting money into Dogecoin, on the other hand, is a serious business that anybody can become engaged in at this point in time.
You should be aware that investing in cryptocurrencies is a high-risk enterprise, and you should only invest the amount of money that you can afford to lose. You can buy and sell Dogecoin using a variety of different methods.
However, you should be aware that investing in cryptocurrencies is a high-risk enterprise. In spite of this, there is cause to be positive about the future of Dogecoin, given that the alternative cryptocurrency seems to be growing in popularity at a pace that is only projected to rise as more time passes.
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Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.
The purchase and sale of digital currencies such as Dogecoin is open to residents of Canada. You have the option of purchasing Dogecoin either directly with a fiat currency such as the Canadian dollar or indirectly using another cryptocurrency such as Bitcoin or a stablecoin such as USDT.
Determine which cryptocurrency exchange you want to utilize first. Your prior experience will play a role in this decision. For those who are new to cryptocurrency, Bitbuy provides a solution that is reassuringly straightforward. The larger cryptocurrency exchanges, such as Coinberry and Coinsmart, provide users with access to a broader range of trading and financial possibilities. Log in to your account, make a deposit of dollars, and start making your purchases as soon as you can. When you decide you want to sell your Dogecoin, any of the three exchanges that we just went over will purchase it back from you and hold it for you.
It is difficult to provide a definitive response to this issue since cryptocurrencies are still relatively new to the world of investing. However, it is important to note that cryptocurrencies are volatile, and their prices are prone to erratic swings. If you are considering investing in Dogecoin, you should be aware that the price is subject to wild swings. Trading and investing in cryptocurrency is not something you should do if you are unsure of whether or not you can remain calm and collected under these circumstances.
This does not rule out as an option. But that is doubtful. There is no upper limit on the total quantity of Dogecoin that may be held or spent. It is anticipated that the entire quantity of DOGE would reach 135 billion in the year 2022. Even if the price just increases to one dollar, Dogecoin's overall market capitalization will still be more than that of the whole cryptocurrency industry.
Since the beginning of 2022, the price of a Dogecoin has very gradually decreased from around $0.20 to its current level of $0.12. This decline has occurred over the course of the whole year. This is a somewhat slow process of stabilization in comparison to the rest of the cryptocurrency industry. According to the forecasts of some experts, this time period will be pivotal in laying the groundwork for further expansion. We can say with absolute certainty that the price of dogecoin has not been this low in the last eleven months.
Users may acquire Dogecoin (DOGE) by using cryptocurrency exchanges like Newton. These exchanges enable users to join up, create an account, and buy the cryptocurrency at no cost.
Because the creators of Dogecoin decided to represent their cryptocurrency with a logo based on a popular internet meme depicting a Shiba Inu, the cryptocurrency was initially taken in jest when it was introduced. This was due to the fact that the creators of Dogecoin chose to represent their cryptocurrency with a logo based on the meme. DOGE, on the other hand, is distinguished by its active community, speedy block creation, and quick transaction speeds, all of which contributed to its meteoric surge to the top of the rankings for cryptocurrencies.
The majority of Dogecoin users reward online content producers with DOGE, which is a cryptocurrency. The Dogecoin community is vast and very active. Dogecoin may also be used as a payment method for rapid blockchain-based transactions that have extremely low transaction costs. This is another use case for cryptocurrency. Crowdfunding efforts that make use of Dogecoin are often coordinated within the community of DOGE holders.
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