Learn how to get your dogecoin to USD! Everything you need to buy dogecoin, convert it to us dollar, and how to use a dogecoin usd exchange. This is a huge question that no one rarely addresses. Most post a link to an exchange but do not explain the security risks involved. Here I will be writing a detailed guide on how to use a few sites, and how to easily and safely get your dogecoin to cash!
Before you start trading, you need dogecoins.
If you have already started hashing and collecting you dogecoins then you’re ready to continue!
It is a fairly simple process. There’s a lot of exchange sites, and I have used most of them at one point or another. I have now started to stick with the two I think are the best for various reasons, ranging from ease of use and security.
In addition to how to set up an account, I will be walking you through exchanging your doge and the sites various features. This way you can best take advantage of their services to maximize your profits!
First thing is first, you’re going to need a Cryptsy account.
This part should not need much explaining. Like any service or site you sign up for, you’ll need to create a username and password, along with a valid email address. Once you have an account, feel free to browse the site and the various features available.
The reasons why I chose this site as the go to for cryptocurrency trading are quite simple. It’s safe, fast, and you get paid for using it!
***If you haven’t gotten your dogecoins to your wallet, read the following instructions. If you already got that covered then skip to step 4***
You can also use online sites, such as Coinbase, or download it onto your smartphone.
In your wallet you’re going to want to click the “much receive” tab. Here are the addresses listed that are linked to you. One should already be listed, but you can create another one with the “New Address” button at the bottom of that screen. To keep track of your funds, its nice to label your addresses and assign different ones to different pools. That way you can keep track of where your doge is coming from.
Change the label by right clicking the address and clicking “Edit.”
Change it to something that will help you identify it’s associated source. This address will go into your pool site to designate a payout location.
We need to get those incoming doge into your new wallet. Log onto your account with whatever pool you are using. From there, on the left side, you need to click “Edit Account” so we can set your payout address.
Now that you’re in your settings, just copy the address you made earlier and paste it right in the “ PAYMENT ADDRESS” field. You can also set your automatic payout threshold here as well. Whatever number you set this to will be the amount the pool automatically sends to your wallet, when the dogecoin is mined. It’s always nice to support your pool with a small donation percentage!
So you have your dogecoins in your wallet, and understand that the addresses are how you send the coins to another individual or site. Now we need to start trading your dogecoins!
From step 1, you should already have your cryptsy account set up.
The dashboard is a pretty clean, professional, and very user-friendly. On the left hand side, there’s a running list of many crytocurrencies, such as doge, that you can trade for bitcoins or litecoins.
We need to get the dogecoins onto your cryptsy account so you can start trading! to do this, simply log in then click the “Balances” tab at the top of the site. From there you need to scroll down and find where dogecoins are listed. Click on it, and a small menu should appear. Just click the “Deposit / Autosell DOGE.”
Just copy the address that comes up and use it in the “Pls Send” tab on your wallet. Just paste the address, label it cryptsy, and send your dogecoins so you can start trading.
Scroll down to dogecoins to bitcoins, labeled “DOGE/BTC,” and click on it to open up the page for that market.
In the middle is where you enter your information on the amount and price you want to sell or buy dogecoins. Simply enter the amount of doge you wish to sell, and the price you want to sell them at.
Below those trade boxes are lists of completed transactions and pending trades. Cryptsy usually sets your buy price at the lowest available on the active trades below. Likewise, it will sell at the highest price available in the requested buy orders.
So after you enter your desired price and amount, and click the “Submit Sell Order” button and BOOM! You got your bitcoins.
We turned those hard earned dogecoins into bitcoins, we’re only a skip away from converting those into cash in your bank account. This step is fairly easy but requires some information to deposit money into your bank account through an ACH wire transfer. This is free, as apposed to fedwire.
You need to create a new account on coinbase, in order to get those bitcoins to USD.
Coinbase is an amazing, easy to use site as well. Its extremely safe and reputable. The site stores 97% of its assets in offline wallets. This along with the method in which they do it, makes it impossible for anyone to hack or steal any of the funds.
This whole process takes a few minutes, but well worth it. Click the verification link that gets sent to your email and start filling out your basic information. For extra security, there’s a two step authentication. Basically its a code that gets changed every minute, that only you have access too. This way if anyone steals your username or password they still need the code, which changes frequently
To do this you’ll need to verify your phone. Just enter your number and you can choose to get a text, call or set up your two factor security with the authy app on any smartphone!
From there just follow t he “Complete Your Profile” objective in the bottom left. You only have to go as far as verifying your bank. You’ll need you routing number and account address for that.
FINALLY! The last step. We just need to send the bitcoins from Cryptsy to Coinbase to sell them.
Got to the “Account Settings” tab and click “Bitcoin Addresses” up on the top of the new page.
Copy the address and change its label to help you identify and keep track of your transfers.
Just copy that address so we can put it into cryptsy to get those bitcoins sent!
On cryptsy you’re going to need to go back to the balances page. Click on your newly earned bitcoins and click withdraw, like the same way we got your doge address in step4.
Paste the coinbase address in the appropriate field, choose how much money to send and BOOM!
On your coinbase account, just go to the “Buy/Sell” link on the left side. Now in the middle tabs, click sell. Choose the amount, your bank account.