Safest Way to Store Dogecoin

Although Dogecoin (DOGE) was launched in 2013 as a mere joke, the token has since then captured the crypto community and continues to grow in popularity. The digital currency has got a good reputation in the crypto market over the last few years, but in January 2021, it reached its all-time high, making the coin rise to be one of the top 10 largest cryptocurrencies by market cap.

If you have also been considering joining the trend and investing in Dogecoin, this is just the perfect time to do so. However, as you are thinking of this, you also need to figure out how to store your Dogecoin securely. Fortunately, the recent popularity of the coin has created a number of ways to safely store it. In this post, we have highlighted some of the safest ways to store your Dogecoin – ranging from hardware wallets to mobile and desktop wallets. So, let’s take a look at them.

What Is A Dogecoin Wallet?

Just like your bank account, your Dogecoin wallet helps keep your DOGE secure while making it possible for you to receive and send Dogecoin too. The wallet can both be physical or digital and contain both your private and public keys. Your wallet’s public key is your “coin address” and works just like your bank account number enabling you to receive coins into the wallet.

Your wallet’s private key, on the other hand, is used to approve transactions in the ledger and also allows you to access the balance on your public key. There are different Dogecoin wallet options available to you. This ranges from online wallets accessible through the web to hardware wallets that require no internet connectivity. Let’s take a look at some of the safest and most popular wallets out there for securely storing Dogecoins.

The Safest Dogecoin Wallets to Know

#1: Dogechain Wallet: The Best Online Wallet for Dogecoin

Online wallets are also called hot wallets because they always need internet connectivity before you can access them. You can either access these wallets through an app on your mobile device or through a browser extension. Although we don’t recommend this type of wallet due to security issues, if you are a regular traveler and need access to your wallet from different locations and various computers, this option will work great for you.

Among several online wallets for storing Dogecoin, Dogechain wallet comes highly recommended. The wallet is easy to use and allows you to access your wallet from anywhere. Another perk about the wallet is also that it encrypts everything and your wallet files are not stored on the Dogechain servers, but in the cloud. That means even if all the Dogechain servers are down, you will still be able to access your coins.

However, you should take note that the official Dogechain website is dogechain.info. There have recently been many victims of fraud by some phishing sites who claim to be the original site of Dogechain. Watch out for some sites like dogechain.com and dogechain.org. These two sites are fake and will only cause you to lose your money.

If you will be using a web or online wallet, we recommend that you bookmark the original dogechain website so you don’t fall a victim to scam. Again, the original and official site is dogechain.info.

Pros

  • Very easy to use with a friendly interface
  • All data in the wallet is encrypted
  • Accessible from anywhere and at any time
  • Wallet info is stored in the cloud

Cons

  • No 2-factor authentication
  • Prone to hacking and other online theft

#2: Dogecoin Wallet: The Best Desktop Wallet for Dogecoin

Using a desktop wallet provides you with a more robust and feature-rich wallet than online wallets. It also provides more control over your coins as the wallet typically resides on your computer. A desktop wallet often has an independent blockchain and sometimes comes with a built-in crypto exchange.

The first wallet any serious Dogecoin owner will consider is the official wallet of the digital currency. The official Dogecoin wallet has both a desktop and mobile version for Android. The desktop version works on multiple operating systems and offers great security as it downloads the whole blockchain. That means you can enjoy the same level of security whether you use a Windows, Linux, or macOS device.

Although not one of the most beautiful Dogecoin wallets you will find out there, it comes with a really intuitive user interface and allows you to mine DOGE.

Pros

  • Official Dogecoin wallet
  • Encrypts password
  • Easy to use with intuitive user interface
  • Allows Dogecoin mining

Cons

  • No 2-factor authentication
  • Not open-source

#3: Jaxx Wallet: The Best Multi-Coin Wallet for Dogecoin

The Jaxx wallet is a multi-coin wallet that has both mobile and desktop options. When talking about the safest ways to store Dogecoins, this wallet will always come recommended. The wallet can store more than 85 different cryptocurrencies and provides a really simple and intuitive user interface. Even first-timers into crypto wallets should not have any problem managing their Dogecoin with Jaxx wallet.

The desktop version works well across different operating systems and the mobile version supports both Android and iOS devices. You can also sync and pair your wallet across all these devices. That is one amazing feature many crypto wallets won’t beat.

Pros

  • Can store more than 85 cryptocurrencies
  • Comes with a built-in exchange
  • Available on multiple operating systems
  • Friendly user interface
  • Great option for beginners

Cons

  • No 2-factor authentication

#4: Trezor One Wallet: The Best Hardware Wallet for Dogecoin

Hardware wallets mean that your cryptocurrency is stored on a piece of hardware like a USB stick or external hard drive. This option of storing cryptos provides a great level of security for your digital assets since they are only accessible if you have the device itself. One of the safest hardware wallets out there for storing Dogecoin is Trezor One wallet.

Unlike mobile and some desktop wallets, this hardware wallet does not come free. Apart from offering great support for storing Dogecoin, however, the wallet also supports about 700 other tokens, including bitcoin, Ethereum, and Litecoin.

With this wallet, your private keys are kept secure on a device, making it super difficult for hackers to access the funds in the wallet.

Pros

  • Portable and lightweight
  • Provides more security for your coins
  • Easy to use
  • Supports hundreds of cryptocurrencies

Cons

  • It is not free
  • Hardware can be stolen or lost

#5: Dogecoin Paper Wallet

Although this option is not mentioned as much as it used to be, it is still a very good option for storing your Dogecoin if security is your top concern. This option involves storing your coins with a physical paper wallet. Your private keys will be printed on a piece of paper for making transactions. That means you won’t need any internet connection, and so reduces the probability of hackers having access to your coins and stealing them.

However, you should only use this type of wallet if you are a highly advanced user before trying to use this. There are many ways to get a paper wallet wrong, and any of this will cost you to lose your funds. Paper wallets are also vulnerable to theft and destruction. So it is your responsibility to make sure your paper wallet is safe and secure.

How Do I Get A Dogecoin Address?

Well, that is very simple. You only need to choose one of the cryptocurrency wallets mentioned above and follow through for your Dogecoin address. For instance, if you are choosing online wallets, find the wallet, install it, and set up an account.

After setting up an account, choose “receive Doge” and your address will be revealed to you together with a QR code. That is the address you will send to anyone sending you DOGE. If you are, however, confused about where you can buy Dogecoin, you can use Anycoin Direct. The platform offers a seamless process of buying Dogecoin and other cryptocurrencies without the fear of losing your money. Registration is simple and you can make your purchase in a couple of minutes.

Post source: Safest Way to Store Dogecoin

Written by