The cryptocurrency world has become the talk of the town as it has garnered an excellent attention through its significant return on investment (ROI) and futuristic vision. Since its inception, the crypto space has revolved around leading crypto projects, including Bitcoin and Ethereum, but the advent of several overwhelming memecoins and altcoins has forced the crypto community to switch their spotlight. Finding out what apps support Dogecoin wallets is helpful in facilitating transactions and keeping your crypto safe.
Dogecoin is one such memecoin that has a growing community with popular influencers like Elon Musk. Dogecoin is one of the emerging and oldest memecoins that appeared to be a joke but gradually secured the first choice of the crypto investors.
Dogecoin wallets can be in the form of web apps, mobile (Android and iOS apps), desktop apps, VPS installations, or extensions. These are used to store Dogecoins but can also be used to send and receive crypto. Some have extra functionality, including crypto exchanges, swapping, or buying with fiat.
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What Is Dogecoin?
Dogecoin is a digital ledger which uses a distributed blockchain ledger which secures and executes transactions in a decentralized manner. At the time of its launch, Dogecoin was used for tipping on popular social media platforms like Reddit and Twitter. However, it gathered the great attention of the crypto community over time and became a prominent crypto project in the market, providing lucrative profits in trading and mining dogecoin.
In 2013, Billy Markus and Jackson Palmer took an initiative to launch the Dogecoin project (DOGE) with the hope of replacing leading market dominators, including Bitcoin. The idea behind naming it ‘Dogecoin’ came from a popular social media meme, ‘Doge Puppet Show,’ and the logo was motivated by a Japanese dog breed, ‘Shiba.’ Dogecoin has been the favorite of the broad crypto community as investors show immense interest by investing billions of dollars in it, as DOGE increased over 5000% in 2021.
After becoming popular through the influence of Elon Musk, Dogecoin seeks to provide peer-to-peer trading and transactions to its users regularly with zero network congestion. Dogecoin price saw a pump of 91% after Elon Musk tweeted that DOGE was his favorite cryptocurrency. There are several crypto assets that aim to replace the need for fiat currency, and Dogecoin is one of them.
Technology Behind Dogecoin
The technology behind running the Dogecoin network is quite impressive. Dogecoin contributes a significant value to the massive blockchain database. Dogecoin confidentially stores transactions’ details and users’ privacy through numerous nodes, making the network completely decentralized. Let’s find out Dogecoin’s working module from the following example.
Suppose X wants to send 10 DOGE to Y.The database keepers on the Dogecoin network run an operation to ensure the authentication from the sender’s end. If a maximum number of nodes vote for the execution of the transaction, then the transaction gets validated, and 10 DOGE get deposited to Y’s Dogecoin wallet address, and a final confirmation block is added to the Dogecoin network.
Dogecoin works on a Proof-of-Work consensus mechanism and utilizes Scrypt hashing instead of SHA-256. It creates an easy and convenient infrastructure for users to send and trade dogecoin within the network with quick execution time.
What Is A Dogecoin Wallet?
Like fiat currencies, cryptocurrencies also need a wallet to be stored. Cryptocurrencies are usually held in a digital wallet, and Dogecoin is no exception, meaning the funds are kept in network databases. There’s no shortage of wallet options when it comes to Dogecoin. There are several Dogecoin wallets in the crypto market from which you can choose depending on various features, convenience, usability, and security.
A Dogecoin wallet is almost similar to a physical wallet to spend crypto; it is something where you can securely store, receive or send Dogecoins. Dogecoin wallet consists of a public and private key, which bridges the distributed ledger with the Dogecoin Network. Users can use the wallet’s public key to trace transactions while maintaining the anonymity of the user. The private key allows the authentication of a transaction in the network. Dogecoin wallet’s public key is used to receive Dogecoin from a sender. On the other hand, the wallet’s private key can only be used to send Dogecoin to a receiver’s address in the network.
How To Buy Dogecoin?
Dogecoin is widely available in the cryptocurrency market. In this section, we will discuss how you can buy and deposit Dogecoin to your crypto wallet.
First of all, you need to create a Dogecoin wallet and get a Dogecoin deposit address. Then, you have to find an exchange platform where you can buy Dogecoin directly from the exchange or via p2p trading using bank transfers and deposit it to your Dogecoin wallet address. You can also deposit funds to your Dogecoin wallet and buy Dogecoin from an exchange.Once your DOGE gets deposited, you are all set to start trading Dogecoin.
Types of Dogecoin Wallet
Dogecoin Hot Wallets
A hot wallet will store the private key of your DOGE wallet on your device, whether it be a mobile phone, a desktop computer, or a laptop. These wallets are somehow connected to the internet, and they have more exposure to exploits, attacks, and malware. Therefore, it is recommended to use trusted Dogecoin hot wallets, which can secure your funds better.
Dogecoin offers users two software wallets:
Dogecoin Core: This wallet contains the entire Dogecoin blockchain, so it can take a long time to download. With the help of this wallet, your computer becomes a Dogecoin node.MultiDoge: MultiDoge is offered by Dogecoin itself. Without being a full node, this wallet will store enough information to use Dogecoin.
Hardcore Dogecoiners can find the full client version for Dogecoin on the official site; however, this is not recommended for beginners as its user interface is quite complex to understand. For Android users, there is an official Dogecoin Mobile Wallet, which generally has excellent reviews from users. Unfortunately, the iOS version is not released yet.
Dogecoin Cold Wallets
A Dogecoin cold wallet is just the opposite of a hot wallet, meaning they are not connected to the internet. As these wallets do not work with the internet, it makes them more secure from attackers and hackers. Dogecoin cold wallets can be in the form of hardware wallets or paper wallets.
Hardware Wallets: A hardware wallet is one of the safest wallets available in the crypto market, and it requires an initial investment. While software wallets are entirely free, resulting in less security than hardware wallets. The reason behind considering hardware wallets safe is that they store the private key of your Doge wallet offline on a physical device.
Paper Wallets: Paper wallets store your Dogecoin wallet address and private keys securely. As the name suggests, these wallets are papers on where your Dogecoin wallet details are printed. As it is essential to access your wallet, you need to store it in a secure place on your premises.
Best Dogecoin Wallets for 2022
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Following the crypto boom in 2021, cryptocurrencies’ prices surged to the moon, and Dogecoin became a messiah for investors. The crypto world is truly unique, and the exponential growth of this industry has influenced the world.
Crypto enthusiasts often worry about choosing the best Dogecoin wallet for them to keep their funds securely. Here is a list of the best Dogecoin wallets if you are serious about securing your funds.
1. Binance: Best for Peer-to-Peer Trading
If you are familiar with the crypto space, then you must have heard about Binance. A reputable and popular crypto exchange platform, Binance has its own designed wallet. Binance is a hot wallet where users can create Dogecoin wallets. Users can also trade Dogecoins as it is one of the popular crypto trading apps that allows to trade crypto.
Binance offers Dogecoin holders a wide range of trading pairs, eliminating your worries about buying and selling Dogecoin on the crypto platform.
Why Should You Choose Binance?
There are many features that Binance offers its users, making the platform more convenient for crypto trading. Binance offers over 1000 coins, including Ethereum and Bitcoin. Binance provides multiple security layers, including biometric authentication, which secures your funds better than others from hackers.
Binance has a 24/7 support system, and it supports several blockchain networks, including BNB, Polygon (MATIC), SOL, Polka dot (DOT), Cardano (ADA), ERC-20, BTC, ETH, LTC, etc. It allows withdrawals to bank account via preferred method. Binance also has an insurance policy for your crypto funds as all U.S. dollar deposits at Binance are held at centralized bank accounts, and they are insured up to $250,000 for bank failure by the Federal Deposit Insurance Corp.
2. Crypto.com: Best Non-Custodial DeFi Wallet
Crypto.com is one of the best non-custodial cryptocurrency exchanges and it offers a Dogecoin wallet where you can keep your dogecoin with complete anonymity. This wallet enables users to buy 200+ cryptocurrencies with 20+ fiat currencies.
Crypto.com is available on Android and iOS, enabling you to use your Dogecoin anywhere and anytime in the world. This platform offers the highest security for your Dogecoin.
Why Should You Choose Crypto.com?
Crypto.com offers excellent features to users. Users can trade their cryptos without any fee and even generate up to 0.01% for the taker-paid fee. This wallet enables users to track 250+ cryptos by installing Price Alerts and Price Movement Alerts on the dashboard. Users also avail of the lowest fees when they purchase crypto with a credit card/debit card or bank transfer.
Furthermore, users can make a passive income of up to 8.5% interest per year on cryptocurrency assets and up to 14.5% interest per year on stablecoins staked on the platform. It has blockchain support of BSC, ERC-20, Arbitrum, AVAXC, BEP2, etc. Crypto.com offers two-factor authentication and multiSIG security features to keep your Dogecoin away from hackers.
3. Coinbase: Easy Place To Buy Dogecoin
While Binance is typically used by cryptocurrency investors with prior experience, Coinbase paves the way to the crypto market for beginners. In simple words, Coinbase has the best use cases for those who have little to no experience in trading digital assets like Dogecoin online.
To start your Dogecoin trading experience with Coinbase, you will primarily require an exchange account to create by entering some basic personal information and uploading your government-issued ID. Once your account gets verified, you are all set to buy your first Dogecoin, including a wide range of supported payment methods. For example, if you elect to do a bank transfer through ACH, you don’t need to pay any deposit fees on the platform.
Why Should You Choose Coinbase Wallet?
Coinbase is one of the most trusted and secure platforms in the crypto industry. Coinbase has been the favorite of investors since its launch in 2012, which places it as one of the longest-standing cryptocurrency exchanges in the crypto world.
Coinbase is a reputable crypto exchange platform that is listed on the NASDAQ exchange, which provides more transparency and scrutiny to the platform from regulatory entities. Coinbase offers more security as it is one of the best crypto exchanges that keep 98% of digital client assets in cold storage. Coinbase is easier to use for beginners as it provides simple tools for trading.
Another reason to buy Dogecoin from Coinbase is that the platform offers more than 50 crypto assets which makes it easier to trade Dogecoin. Moreover, users can access every supported market through this exchange wallet. Like most exchanges, Coinbase offers a secure Dogecoin wallet in the form of a mobile app for iOS and Android.
4. Ledger Nano X: Leading Hardware Wallet
The Ledger Nano X is a newly innovated crypto wallet from the Ledger. It is a physical wallet that is considered the best hardware wallet to store your crypto funds securely. You can sell and purchase Dogecoin and manage it while trading on the go as this hardware wallet comes with a software version that mobile users can use on their phones, meaning you don’t need to have a laptop to do trading Dogecoin. Ledger Nano X is USB-type, and you can access your funds if connected to a device.
Ledger Nano X is one the popular crypto exchanges, and it comes with Ledger Live software which is used to display your Dogecoin balance and send and receive several currencies. Ledger has a wide range of crypto assets and digital tokens, allowing you to trade even minor currencies in the crypto market. Ledger Live offers staking services to its users so that you can make a passive income based on your crypto holdings in the hardware wallet.
Why Does Ledger Nano X Stand Out?
Ledger Nano X is a hardware wallet which has hardware security modules that store your Dogecoin and other crypto funds securely. Being a USB device, it has less chance of being hacked and stolen as it contains the security information of your Dogecoin wallet. Furthermore, it has a certification level of CC EAL5+ and support tokens based on the ERC-20. Moreover, it has a two-factor authentication, which requires your approval before moving funds from your wallet.
5. Gemini: Best For Beginners
Gemini exchange is one of the top Dogecoin wallets that help you to store several cryptocurrencies. Gemini is convenient, elegant, and secure to start your crypto portfolio. It also provides a discount of up to 10% for volume traders.
Why Should You Choose Gemini Exchange Dogecoin Wallet?
Gemini exchanges 40+ pairs with Dogecoin, allowing you to trade Dogecoin with any cryptocurrency you want. It includes security layers like biometric authentication with two-factor authorization.
Gemini exchange is registered with centralized authorities, and it offers low fees for exchanging Dogecoin. The user interface of the platform is easy to use for beginners. This platform offers several use cases for your crypto assets, including advanced matching algorithms.
Name of WalletWallet TypeCryptocurrencies SupportedPricingBinanceSoftware1000FreeCrypto.comSoftware250+FreeCoinbaseSoftware500FreeLedger Nano XHardware5500$175GeminiSoftware70+FreeComparative Table for Apps Supporting Dogecoin Wallets
Dogecoin is an established cryptocurrency that is leading the future road of altcoins and memecoins, and giving a tough competition to Bitcoin cash. It has been appointed as one of the most emerging and dominating cryptocurrencies in the market due to its immense craze and use cases. Moreover, it is easier for miners to start mining dogecoin as it is quicker to solve completed cryptographic mathematical algorithms compared to other crypto assets in the market.
To execute a transaction in the Dogecoin network, it takes a fraction of a second, making it more efficient in completing payments. Since its inception, Dogecoin has formed a vibrant community that has been donating Dogecoins to charities to build a better ecosystem. In recent years, the Dogecoin community has gathered the attention of several influencers, and it has become one of the largest and most dominating communities in the cryptocurrency world by providing support to several sectors and charitable endeavors.
Despite starting its journey as a deep joke and becoming funny material in the crypto industry, Dogecoin achieved the world’s serious tone and evolved into a significant digital crypto asset. At the time of writing, it’s the 10th largest cryptocurrency token in terms of market cap, making it quite impressive as it stands out among the 10K cryptocurrencies in the industry.
However, Dogecoin’s value could still decline over time as its influence is not affecting the market, and it has no mining limit, which eliminates the token’s scarcity. Unless it becomes a mainstream adoption and investors properly recognize the potential of Dogecoin and add it as a payment method, it may lose a lot of optimizations in the long term and turn out to be a less desirable crypto project.