You can cash out from Dogecoin on a cryptocurrency exchange that lists DOGE. In most cases, you will first have to convert your DOGE to BTC or ETH, and then exchange those for USD, EUR, or your local currency.
The Dogecoin network has so far provided a secure platform for transactions, and hasn’t yet suffered a 51% attack. Still, Dogecoin is not quite as secure as a larger Proof-of-Work cryptocurrency like Bitcoin or Ethereum.
In most countries of the world, Dogecoin is perfectly legal. The legal status of cryptocurrencies varies from country to country, so make sure to get familiar with the legal status of cryptocurrency in your country.
Generally speaking, no. The Dogecoin project did not sell any coins or raise any investments. There was no Dogecoin pre-mine and anyone could mine Dogecoin on a level playing field as soon as the cryptocurrency was launched.
However, the regulatory framework for cryptocurrencies can vary significantly from country to country, so make sure to check how cryptocurrencies are regulated in your country before making any investments.