Do you ever wonder about how to sell Dogecoin? Unless you want to invest in a store of value like Bitcoin, hold for life makes no sense. After purchasing, therefore, you should always prepare to sell Dogecoin. This article shows you where and how to sell Doge in a streamlined and secure way. But before tackling the way to sell Doge, let’s see what a DOGE wallet is and why it is so important to have one.
What is a Doge Wallet?
Naturally, if you want to sell Dogecoin, first, you must have a crypto wallet with Doge crypto assets in there. So let’s see what a crypto wallet is.
A digital wallet or crypto wallet, in general, is one of the most important and indispensable items for Dogecoin transactions. Dogecoin wallet allows you to send or receive payments in crypto-assets.
The public key and especially the wallet’s private key give you the ownership and the right to the cryptocurrencies transferred to a particular address. Let’s look at this in more detail.
The public key is similar to a bank account number. You can give it to anyone to send you money without the risk of withdrawing our funds. Thanks to the public key, addresses are generated to receive, consult and see the status of our funds.
The private key works like a password or PIN. Thus, the private key owner will be the owner of the funds and have full control over them.
The Best Dogecoin Wallets
Many crypto exchanges offer to register and create a Dogecoin wallet.
By having your own Dogecoin wallet, you can open a cryptocurrency trading account and easily exchange Dogecoin for other cryptos such as Bitcoin, Ethereum, Dash, etc. and make money on exchange rates.
You can register a Dogecoin wallet for free without indicating personal data. However, to choose a wallet that suits you best, we must study the different options on the market.
Some of the most recommended and the best Dogecoin wallets are Ledger Nano S, Jaxx, and KeepKey. To illustrate the difference between the best Dogecoin wallets, Ledger Nano is a hardware type, “cold wallet,” in the form of a USB. On the other hand, Jaxx is connected to the internet and represents the “hot wallet” type.
The ‘’hot wallet,” those connected to the internet, have its perks of multiple device access, the ability to perform transactions no matter where you are, and safe access to your cryptocurrency wherever you are.
Cold wallets are undoubtedly the ones that offer a higher level of security when it comes to protecting our funds. Especially since they work offline and therefore there is no risk of them being hacked.
The process of funding your wallet to buy and sell Dogecoin consists of transferring the fiat currency funds via a bank transfer, credit card, or debit card.
How to Sell Dogecoin
You can trade Doge on cryptocurrency trading platforms, making it possible to buy or sell this altcoin like any other type of virtual currency.
If you want to sell major cryptocurrencies, the process is as easy as the buying process. During the first years after creating Bitcoin, it was complicated to sell cryptos to withdraw fiat currency.
Today, you can do it in a snap with crypto exchange platforms linked to the traditional banking sector. The most famous are Coinbase, Bitpanda, and Coinmama, to name just three of them.
To pocket fiat currency in exchange for DOGE, you need to find the right crypto broker.
Not every cryptocurrency exchange offers to sell Dogecoin for fiat currencies. But you can exchange them first for Ethers or Bitcoin, and then you can exchange it for fiat currency on the platforms that allow for this operation.
In general, the process of how to sell Dogecoin is as follows:
- Find the crypto exchange that enables sell Doge.
- If you are already signed in on the platform and have the wallet, the next step is to select the crypto pair you wish to exchange. For instance, Doge into BTC or Doge into fiat currency if it’s enabled.
- Make sure the rates offered by the crypto exchange suit you as well as the service fees.
- Confirm the transaction and save your transaction history.
- Send the number of coins to the address provided to receive the crypto in your Doge wallet.
If you want to exchange Doge for fiat currency, you will need to find the crypto broker that allows it. Finding the crypto exchange where you can sell Doge for BTC, USD, and EUR means that you will have the wiggle room to buy popular assets with zero slippage from multiple conversions.
When to Sell Doge?
If you bought Doge at a price that appears to be high to you today, compared to the current price, the best solution is not to sell at least the same price as the one you bought.
Indeed, keep in mind that as long as you have not resold, you have not lost, you still have your Doge, and the forecasts are quite optimistic that the price will increase in the years to come. As a result, Dogecoin is in the world’s top 10 cryptocurrencies by market capitalization in 2021. Its capitalization exceeded $65 billion as of mid-May 2021.
From January to May 2021, its capitalization has multiplied by more than 100, which is absolutely considerable and it far outperforms all other cryptocurrencies. It should be noted, for example, that the Doge’s outperformance on Bitcoin in the first half of 2021 nearly reached 3,500%.
Moreover, its speculative nature gives it increased visibility, extremely high capitalization, bringing big profit opportunities.