How to convert Dogecoin to USD
Ever thought about how to convert Dogecoin to the US dollar? The crypto market is buzzing as digital currencies like Bitcoin and Doge go up in value. Still, you can’t spend it as quickly as the old paper bills and metal coins. If you want to finish your dogecoins finally, check out the cryptocurrency exchanges where you could do it.
Let’s start by discussing how the doge internet meme became a cryptocurrency. Then, we’ll explain the hype surrounding Dogecoin you probably see on social media. Afterward, we’ll show you how to purchase Dogecoin and later turn it into USD. Remember that there are benefits and risks to this conversion.
Almost nobody paid attention to cryptocurrencies like bitcoin back then. Nowadays, the general public and governments won’t stop talking about it on the internet. If you want to invest in Dogecoin or other cryptos, it’s best to do it as soon as possible. Know how to convert it to USD so that you could enjoy a few things with your investments!
What is Dogecoin?
If you think “converting Dogecoin” sounds silly, it’s because the digital currency was supposed to be a joke. Back in 2013, a couple of fantastic minds grew tired of the tough talk around cryptos.
Jackson Palmer and Billy Markus found inspiration from the Doge internet meme. It’s a cute picture of a Shiba Inu dog with misspelled funny statements.
They slapped the cute doggie on a coin, and poof! The Dogecoin (DOGE) crypto was born! Since then, its price has been soaring to the moon, above being a joke.
At the time of writing, Dogecoin stands as the 6th cryptocurrency. It’s a severe competitor for big coins like Bitcoin (BTC) and Ethereum (ETH).
What’s the reason behind the upward trend of this crypto “pupper”? Why it’s Tesla CEO Elon Musk, one of Dogecoin’s most giant pumpers!
Check his Twitter feed, and you’ll find numerous tweets promoting the Shiba coin. Doge investors watch out for them as they signal huge price increases!
Why are people buying Dogecoin?
More people are checking how to invest and convert Dogecoin nowadays. This massive online hype for cryptocurrencies causes it.
They use blockchain technology that promises decentralized finance (Defi). It allows people to buy and sell stuff without “the Man” getting in the way.
Some people believe it’s the future, so they buy the coin as soon as possible. For most people, it’s a way to earn substantial investment returns.
Add the rise of online trading apps like Robinhood, and it’s easy to see why cryptos are trending. That’s why you see regular folks share graphs online for some reason!
Some people turned into millionaires quickly because of cryptocurrencies. For example, former middle manager Dan Conway made $13 million from Ethereum.
How do you buy Dogecoin?
You can’t convert Dogecoin if you don’t have any. Here’s how you can buy Dogecoins and other digital coins:
- Find a cryptocurrency exchange platform and make an account. One of the most popular ones is Binance.
- After registration, the platform will check your application. Later, it will ask you to confirm your identity.
- Link your account to your debit or credit cards. You’ll need it to buy cryptos.
- Choose Dogecoin or other cryptos. Check the exchange rate before purchasing.
- Click the “Buy” button and wait for the digital coins to show up in your account.
Related Article: Everything You Should Know About Online Trading
How do you turn Dogecoin into USD?
You could do it in reverse to convert Dogecoin to USD. However, there aren’t a lot of crypto exchanges that could do it. Here are some of them:
- Kraken – It’s one of the oldest platforms that support crypto-to-crypto and crypto-to-fiat trades.
- Exmo – It allows the use of debit cards, credit cards, bank wire, and e-payment processors. US traders can’t access it, though.
- YoBit – A group of European developers launched it in 2014. It charges a 0.2% trading fee for all trades, and it only supports USD.
Turning your Dogecoin into American dollars is fast because it’s all done online. Once you find one platform, you probably don’t need any other.
You have to be careful, though. Besides Kraken, small exchanges allow this conversion. They often lack proper regulation.
Also, they don’t have a lot of liquidity. In other words, you probably can’t sell a lot of Dogecoins. Check your chosen exchange platform carefully before using it.
Other things you could do with cryptos
Dogecoin isn’t the only game in the crypto market. You could find other digital coins in there. Buy some of them, too, so you could profit from their growth as well!
Instead of converting Dogecoins, why not mine more? If you have spare cash, you could buy a Dogecoin mining rig. That computer could make more doge while you sleep!
Related Article: Robinhood App – Basic Tips and Tricks
Cryptocurrencies are more popular nowadays. More people worldwide are talking about how to buy, sell, and convert Dogecoin and other cryptos.
Some countries are banning it, though. Some of the exchange platforms might be inaccessible. Make sure to check your national laws connected to cryptos in your location.
If you’re serious about cryptos, don’t just leave them in an online wallet. Get a cold wallet that lets you secure your coins in style!
Learn more about converting Dogecoin to USD
How much is a Dogecoin worth in USD?
At the time of writing, Dogecoin was worth around $0.3088. Please check the exchange rates for yourself as they change frequently.
How do I convert my doge to cash?
You could use Kraken and a few other platforms to turn Dogecoins into money. However, you might not be able to convert that many.
Is Dogecoin worth investing in 2021?
This will depend on your investment goals. Study all you can learn about cryptocurrencies. Plan how you’ll invest in digital coins. Don’t buy it just because of other peoples’ suggestions!