How To Trade DogeCoin For Naira And Cedis; Launched in 2013, Dogecoin is a well-known meme cryptocurrency in the crypto sphere. With a market capitalization exceeding $7.9 billion, Dogecoin holds the 10th position in the CoinMarketCap ranking index. Initially conceived as a playful response to the fervent enthusiasm surrounding Bitcoin during its early stages, Dogecoin has evolved into a more sophisticated digital currency over time.
Remarkably, Dogecoin has achieved recognition and acceptance in various practical contexts. For instance, it is now an approved payment method at numerous Tesla Supercharging stations. In fact, Tesla’s support page confirms that you can purchase any Tesla vehicle using Dogecoin. This remarkable development underscores the cryptocurrency’s significant growth and evolution over the years.
Best Platform To Sell DogeCoin – Cardvest
Since most cryptocurrency exchange platforms do not support withdrawal in Naira or Cedis, you need a local exchange platform that supports Naira and Cedi withdrawal to sell your Dogecoin if you are in Nigeria or Ghana. This is where Cardvest comes in.
Create an account with Cardvest today to seamlessly sell your DOGE for Naira or Cedi at the highest possible exchange rate. You can check the exchange rate using our coin calculator feature, you will get a favourable exchange rate for your DOGE and other cryptocurrencies tradable on the platform.
Go to Cardvest website or download our mobile app on the Google Play Store to sell your DOGE and other cryptocurrencies.
How to Trade Your Dogecoin On Cardvest
– The first thing to do is create an account if you are new to the platform. Just like you would on any other platform. On your first login, create your transaction PIN to add an extra layer of security to your account.
– Navigate to the “trade crypto” section on your account dashboard and click on it. On the next interface, choose “DOGE” as the preferred coin you want to sell, input the dollar amount and the naira and cedis value will be displayed.
– Click on “ Sell Coins” and a wallet will be provided to send the DOGE to, you can choose to copy the wallet address or scan the QR code. Note: the minimum dollar price of DOGE or any cryptocurrency you can sell is $20.
– Note that you will be credited based on the amount you sent to the provided wallet and not the amount you inputted in the calculator field.
– Funds will be sent to your Cardvest account once the DOGE transfer is confirmed. Use the PIN you created to make the withdrawal to your local account.
Cryptocurrency Insight: Elon Musk’s $258 Billion Dogecoin Lawsuit
Elon Musk was accused of insider trading in a proposed class action lawsuit by investors in June 2023. The investors claimed Elon manipulated the price of Dogecoin costing them billions of dollars in investment.
In a federal court in Manhattan, investors said Musk used Twitter posts, paid online influencers, his 2021 appearance on NBC’s Saturday Night Live and other “publicity stunts” to trade profitably at their expense through several Dogecoin wallets that he or Tesla controls. The investors also pointed at Elon’s dump of around $124 million worth of Dogecoin in April 2023 after he replaced the Twitter blue bird logo with the Shiba Inu dog and the price of DOGE jumped by 30%.
The lawsuit is still in court and in recent proceedings, we have seen several name dropping including one of the creators of Dogecoin, Billy Markus known by the pseudonym Shibetoshi Nakamoto, and a popular DOGE community member known as Mishaboar. The investors claimed these two are part of the influencers that aided Elon Musk by generating positive content on social media in exchange for some benefits from Elon through X (formerly known as Twitter)
Nevertheless, both Markus and Mishaboar have vehemently refuted the accusations and conveyed their surprise at being named in the legal documents. Markus, in his response, highlighted the inaccuracies present in the lawsuit. He emphasized that he has no affiliation with Elon Musk, has shared unfavorable opinions about Dogecoin, and formally stepped down from his non-role within the Dogecoin Foundation some time ago.
The lawsuit is still going on and we can’t wait to see where it is heading to.
