How to Sell Dogecoin in 2022 | Best Providers | Bankless Times

Last updated 12th Dec 2022

Dogecoin has evolved to become one of the biggest cryptocurrencies in 2022 by market capitalization. As a result, investors and traders have explored the best ways to buy and sell digital assets due to their high liquidity and demand.

This article discusses the different selling methods and withdrawal methods options such as PayPal, credit card, and bank accounts.

What Is the Overall Best Way to Sell Dogecoin?

There are multiple ways to sell Dogecoin. However, some methods have more advantages than others. We have compiled a list of the best and most reputable brokers for you here:



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How Do You Sell Dogecoin?

Selling your Dogecoin follows a similar process regardless of the method you choose. As long as there is enough liquidity, you can sell Dogecoin through a series of simple steps as highlighted below:

Step 1: Create an account

Step 3: Determine when to sell

Step 4: Know the value of your portfolio

Step 5: Close all active positions

How to Choose the Best Way to Sell Dogecoin

There are several factors to consider when deciding where to sell Dogecoin. Here are some things to think about:

Selling for fiat currency or preferred exchange token:

  • USD, GBP, EUR, and other international currencies are some of the common fiat options used to cash out Dogecoin. Alternatively, you can sell Dogecoin for other altcoins supported on the platform.

Where to keep your coins:

  • Dogecoin has a variety of wallet alternatives, third-party providers, and exchanges to hold their coins. Cold storage wallets are often used by investors while traders leave their Dogecoin on exchanges.

Withdrawal methods available:

How fast you intend to sell Dogecoin:

Market changes and sentiments:

  • The crypto market is relatively volatile, and selling Dogecoin could lead to slippage, profits, or losses. Also, cryptos are susceptible to a range of rules imposed by regulatory bodies, which can affect market sentiment.


Transaction fees and commissions:


  • Because the credibility of the platform is important, you should investigate whether it has additional security measures in place, such as 2-factor authentication, and AMLand KYC protocols.


Different Ways to Sell Dogecoin

There are many ways to sell Dogecoin. Each option has advantages and disadvantages. Investors are advised to study the most suitable methods based on individual needs. You can sell Dogecoin through any of the following ways:

Sell Dogecoin Using an Exchange

When you want to utilise market rumours, price fluctuations, futures, CFDs, or forex to your advantage, online exchanges like Coinbase and eToro are preferred. They also act as brokers. Exchanges are perhaps the most popular way to sell Dogecoin. Traders can either sell their DOGE for another crypto token or fiat.

Sell Dogecoin for Fiat Currency

Fiat refers to the regular currencies we use – Dollar, Euro, Pounds, etc. Be wary that your capital is at risk if you want quick money. Here is a step-by-step guide on how to sell Dogecoin for fiat on exchanges:

  • Step 1: Create an account and verify it

  • Step 2: Fund your exchange account from your credit card, PayPal, or bank account

  • Step 3: Select DOGE from the list of currencies you want to sell.

  • Step 4: Sell your Dogecoin and receive your fiat on the exchange and withdraw to your local bank or payment provider

Exchange Dogecoin for Other Cryptocurrencies

You can locate trading pairs on exchanges like Coinbase and Binance for all crypto-to-crypto trading involving Dogecoin. You can exchange or sell Dogecoin for another coin by carrying out a few steps. We have used Coinbase as a point of reference.

  • Step 1: Sign in to your Coinbase or Binance account.

  • Step 2: At the top of your screen, click Buy/Sell > Convert.

  • Step 3: You will find the option to convert one cryptocurrency to another.

  • Step 4: Enter the fiat equivalent of the Dogecoin you would like to convert. For instance, $50 worth of Dogecoin to convert into LTC.

  • Step 5: Click Preview Convert

  • Step 6: Confirm the conversion transaction.

You must have up to the minimum amount required to carry out these transactions. You will also find a description of any fees involved in the pricing and fees disclosures page.

Direct Trades (person-to-person)

Dogecoin owners can sell Dogecoin via direct trades. This could be in-person or through peer-to-peer platforms. Some exchanges now offer p2p transfers as you will find out in the next section.

Online P2P Selling

You can also sell Dogecoin through peer-to-peer systems like Binance P2P or LocalBitcoins to fellow users as seen in the steps below:

  • Step 1: Log in to your Binance mobile app.

  • Step 2: Make sure you’ve completed their SMS Authentication and KYC Identity Verification processes before selling your Dogecoin or any other cryptocurrency.

  • Step 3: Select [Sell]

  • Step 4: Choose Dogecoin to sell.

Sell Dogecoin in Person

You can sell Dogecoin for cash to persons, institutions, and exchanges accepting such a method of payment. For instance, if you have friends or family members, you can sell Dogecoin to them through the steps below:

  • Step 1: Ask for their wallet address

  • Step 2: Log in to your wallet

  • Step 3: Find Dogecoin and click “send”

  • Step 4: Input their wallet address and confirm the transaction

This step is easier than other methods because you do not need to create any accounts or pass verification protocols. However, it must be done with trusted parties to prevent fraud.

How to Sell Dogecoin Using an ATM?

You can convert your Dogecoin to bitcoin and sell it at crypto ATMs, but these ATMs are hard to come by.

Different Ways to Withdraw Your Money When Selling Dogecoin

Depending on your payment provider, you will find different sales and withdrawal options with their unique fees, transaction limits, processing speed, taxation protocol, and so on. Here are the top ways to make withdrawals after selling your Dogecoin:

Selling Dogecoin with PayPal & other Payment Services

Selling Dogecoin with PayPal is not the most suitable option and there are only a few providers like LocalBitcoins and eToro. However, the fees are relatively high for both methods. PayPal only supports four cryptocurrencies, which include Bitcoin, Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). Venmo, another payment service, is restricted to the United States.

Selling Dogecoin with a Credit Card

You can withdraw your money using credit cards. When you sell your Dogecoin on an exchange, you can convert your funds to fiat. This method of withdrawal offers high security and transactions are smooth.

Selling Dogecoins with a Bank Account

Traders can link their bank accounts to the exchange with their Dogecoin. After selling, simply withdraw the equivalent directly to your bank account.

How Do I Sell Dogecoin for Cash?

You can sell Dogecoin for cash, using integrated withdrawal channels on exchanges. When you request a withdrawal, the exchange will help you convert your funds to cash and pay you through your preferred channel and currency. Common exchanges include:



  • Binance stands out for its tons of technical analysis tools, low trading fees, and wide cryptocurrency coverage. However, there are no e-wallet deposits or withdrawals.


Selling Larger Amounts of Dogecoin

There are no special considerations for selling large amounts of Dogecoins. However, owners are advised to be extra careful when it comes to security measures to avoid huge losses. Also, the transaction fees involved might be higher than usual due to the quantity involved.

Do I Have to Pay Tax When Selling Dogecoin?

Taxation remains a highly debated issue in the cryptocurrency space. You might need to pay taxes such as capital gains on trades or investments related to Dogecoin or any other digital currency depending on the amount sold in your country of residence, and the different regulations put in place.

Your Dogecoin and crypto portfolio is liable for tax. It could also be worth enlisting the help of a financial advisor.

Can I Sell Dogecoin From Anywhere in the world?

Yes, you can sell Dogecoin wherever you are as long as there are no cryptocurrency restrictions in your area of residence. However, there are country limitations on exchanges, platforms, tax, and payment providers.

Privacy and Security Tips When Selling Dogecoin

As with any crypto transaction, there are a few privacy and security measures that users can take. We have highlighted some of the most useful tips below:

Enable 2FA:

Complete only the necessary KYC:

Request support only through official sources:

  • This is a guaranteed way to get the right support. Confirm that the site, email, and live chat options are correct and in sync with one another.

Double-check the receiver address:

Use different passwords:

  • If you are using multiple exchanges, wallets, or brokers, it is advisable to vary your passwords. This could prove to be useful particularly if your device is hacked or stolen.

Offline storage:

Final Thoughts on Selling Dogecoin

We have outlined pertinent issues relating to the selling of Dogecoin and how to safely withdraw your money, along with security tips.

Overall, the best service to use when selling Dogecoin remains exchanges or brokers like Coinbase and Binance because of their ease of transactions, versatility, and security. More so, they are regulated internationally and they also support withdrawals through a variety of methods.


Is it legal to sell Dogecoin for cash?

How easy is it to sell Dogecoin?

How long does it take to sell Dogecoin?

Can my transaction be traced when selling Dogecoin?

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