How to Buy Dogecoin in Canada

Dogecoin (DOGE) Tl;dr

Founded: 2013

Founders: B. Markus and J. Palmer

Website: https://dogecoin.com/

White Paper: https://github.com/dogecoin/dogecoin/blob/master/README.md

Cryptocurrency symbol: DOGE

Coin limit: Over 130 billion with a rate of 5 billion per year

Consensus mechanism: Proof-of-Work

Purpose: The fun cryptocurrency

Other: Based on Luckycoin and Litecoin blockchain. Can be used in DeFi by wrapping DOGE into a token through the Ren Project

Financial Products: No.

What is Dogecoin?

Dogecoin is what happens when you’re having fun messing around with crypto. DOGE could be called a satire coin. DOGE was founded in 2013 by Markus and Palmer by forking LTC. The cryptocurrency was based on a dog, a Shiba Inu, which is their logo.

DOGE is the native token on the Dogecoin blockchain. It has over 130 billion coins in circulation, with new issuance of 5 billion coins a year.

You can buy Dallas Mavericks tickets with DOGE, thanks to Mark Cuban’s open-mindedness about crypto. Elon is even going to send DOGE to Mars.

Dogecoin taxes

Dogecoin is considered a commodity by Canadian regulators. Any exchange of DOGE for products, services or other cryptocurrencies is considered a barter transaction by the CRA.

How to buy Dogecoin in Canada

You can buy Dogecoin in Canada at Bitvo by clicking the orange Create a Bitvo Account button below. Or if you’re on Reddit or Twitter you can receive DOGE as a tip.

And DOGE can be wrapped into a token at the Ren Project so you can use it in select DeFi projects.