Dogecoin is supported by numerous cryptocurrency exchanges around the globe but is yet to make its grand debut on three most popular crypto exchanges- Huobi, Binance, and Coinbase. Most cryptocurrency exchanges offer spot markets with percentage fee options for traders.
The CNY Advantage
If you want to exchange DOGE for CNY and vice-versa, you will find a lot of company. DOGE/CNY is the largest trading pair for the coin, contributing to 14.92% of the total trading volume at a single exchange, i.e., Fatbtc. Other exchanges and crypto/fiat pairs do not even register double-digit trading volumes. Interestingly, the CNY pair is absent from the top 100 trading pair/exchange list after Fatbtc at number 1.
The exchange is based in China and allows direct bank transfers of Chinese Yuan. DOGE/CNY is the 6th top traded pair at the exchange, just behind the trading pairs of Bitcoin, Ethereum and Bitcoin Cash. It allows Chinese users to buy DOGE against CNY via direct bank transfers. Other consumers can only deposit and withdraw in Bitcoin or Ethereum after trading in DOGE.
Prominent Dogecoin Exchanges
Apart from Fatbtc, the coin can be bought against BTC on HitBTC, which accounts for 9.61% of the total trade. BitForex offers the next two most voluminous trades against USDT and Ethereum, followed by P2PB2B (BTC pair, USD pair), Sistemkoin (TRY pair, BTC pair), BCEX (CKUSD pair), Gate.io (USDT pair), ZB.com (USDT pair), Exrates (USD pair), Poloniex (BTC pair) and Bittrex (BTC pair).
Buying Dogecoin at ATMs
You can buy and sell Dogecoin at numerous ATMs around the world. However, if you are not living in select US cities, the chances of coming across a Dogecoin ATM are relatively slim. There are two such ATMs in Vancouver Canada and three in Australia. New York, Maryland, Portland also has Dogecoin ATMs.
Getting Dogecoin at ShapeShift & Changelly
An interesting way to buy Dogecoin using another cryptocurrency is to use ShapeShift. You can use any currency to get Dogecoin at this exchange. Simply sign up for a ShapeShift account, verify KYC using official documents and exchange BTC, ETH or other coins for DOGE. You can choose either of the two options- quick and precise. In the quick option, you can get Dogecoin for the prevalent market rate that provides your coins at a faster speed but may come at a broader price range.
In the precise option, you get to decide more specific exchange rates. This process could be slower but provides you more control over your coins. Provide your wallet address where the coins need to be sent and viola; it’s done!
Changelly follows a similar crypto-to-crypto trading option. Simply write the amount of BTC, ETH or another coin you want to exchange, and Changelly will tell you the number of Dogecoins you will get in exchange. The exchange takes the guesswork out of coin exchanges and works with the best available exchange rate in the market. The exchange also allows you to buy cryptocurrency using your Visa and MasterCard credit cards in the US, an option unavailable at other crypto exchanges.
Both ShapeShift and Changelly provides hassle-free ways to trade in cryptocurrencies.
Buying Dogecoin With USD
Unfortunately, there don’t exist many options that will help you buy DOGE with USD. If you are interested in doing so, you will have to move over to P2PB2B, a crypto exchange that accounts for 6.27% of DOGE daily trade volume with its USD pair. The second option is Exrates which account for 2.49% of the coins trade volume. You have five other options to work with- Livecoin, Sistemkoin, YoBit, C-CEX, and Bittylicious but they do not have enough liquidity. You can, however, seek the coin on Changelly which accepts Visa and Mastercard payments.
The problem with buying the coin with USD is that the option to do so is only available at smaller exchanges, most of which do not follow US laws or consumer protection guidelines. Problems with the security of deposits and liquidity of your holdings may also become apparent when using these platforms. In addition to this, the fee could be exorbitantly high.
Buying DOGE With BTC
Buying DOGE with BTC is relatively easier as some prominent exchanges allow this trading pair with significant volumes. The highest daily trade volume against BTC is at HitBTC, handling over 10.05% of DOGE/USD pair. It is followed closely by P2PB2B with 9.15% of the daily volume. Sistemkoin, BCEX, Exrates, Coinegg, Poloniex, Bittrex, Instant Bitex, ZB.com, Crex24, BtcTrade.im, YoBit, Kraken, Cryptopia, Gate.io, and Trade Satoshi are amongst several well-known exchanges offering this pair.
The Safest Way to Buy Dogecoin
A relatively lower priced project, you will likely be buying the coin in hundreds, if not thousands. That being said, the safest way to buy the coin is to buy it using BTC at a trusted exchange. HitBTC, Gate.io, Poloniex, Bittrex, and Kraken are some exchanges that let you buy the coin with a BTC pair. You can either buy your BTC at one of these exchanges or head over to OKeX, Coinbase, Binance or Huobi to buy it. Once done, deposit the BTC in any of these exchange accounts and buy Dogecoin.
While this could make buying the coin cumbersome, it also ensures that your holdings stay safe with reputed and trusted exchanges instead of lesser-known, loosely regulated platforms that have low liquidity.