The emergence of cryptocurrency has shown a new way for people to invest in the country in the last few years. Before investing in cryptocurrencies, it is better to first know what a Dogecoin wallet is and how it can be used.
This article is going to cover all important aspects of Dogecoin, the Dogecoin wallet, and other related things in detail. The function of a Dogecoin wallet is to store your Dogecoins securely. Dogecoin is a member of the cryptocurrencies family.
- What is Dogecoin?
- What is a Dogecoin Wallet?
- How to Buy Dogecoin?
- How can we create a Dogecoin wallet?
- How can we use our Dogecoin Wallet?
- How to Receive Dogecoin
- How to send Coins
- Top 5 Dogecoin Wallets
- Conclusion
- FAQs
What is Dogecoin?
Dogecoin or DOGE can be described as an open-source P2P (Peer-to-peer) cryptocurrencies like Bitcoin or Ethereum. It runs on its dedicated blockchain like many other coins, and it has a light and functional interface which allows users to send and receive DOGEs more simply.
Dogecoin provides secure transactions, and for that, it ensures that its digital ledger is constantly updating with all new transactions, and its network uses cryptography.
The credit for the creation of Dogecoin goes to Jackson Palmer and Billy Markus, the software engineers. At that time, Markus was an IBM employee in Portland, Oregon, and Palmer was working in Adobe Systems Marketing Department in Sydney. Dogecoin was introduced to the market on 06 Dec 2013.
The use of the word “doge” in the name Dogecoin was inspired by a very famous internet meme from 2013.
They started creating this payment system to make fun of the cryptocurrencies that were in vogue at that time.
Also Read: How to mine Dogecoin – Step by Step Guide
What is a Dogecoin Wallet?
Its name itself is enough to tell that its function is to help crypto traders store crypto assets and tokens.
A wallet can be explained as a separate device or a software program on the phone. In the Dogecoin wallet, blockchain technology is used to help protect Dogecoins with safety and security, as well as enable crypto traders to send and receive Dogecoins.
Dogecoin traders use the Dogecoin wallet to store and manage their Dogecoins securely. With the help of the Dogecoin wallet, Dogecoin traders can easily manage their Dogecoins.
It has a public and private key whose function is to connect it to the distributed ledger over the Dogecoin Network.
The function of the wallet’s public key is to track the transactions made by ensuring the anonymity of the users is maintained.
The function of the private key of the Dogecoin wallet is to approve the transactions of the Dogecoins received from the other users in the ledger with the use of the wallet’s public key, whereas the private key of Dogecoin is used only to send Dogecoins to other users in the network.
How to Buy Dogecoin?
Follow these steps to buy Dogecoin (DOGE) with fiat currency:
- Register your crypto trading account on the Binance site by clicking the “Register Now” Button.
- Enter your email id and password, and click the “Create Account” button.
- Complete the puzzle verification.
- Check your email for the verification code sent by the Binance platform to complete the Account Verification.
- Enter your credit card details to complete the registration process and proceed to DOGE purchase.
- Select the Trade menu.
- Click the Convert option to convert fiat currency into Doge.
- Go to the Convert & OTC Portal screen and then:
- Select the Fiat currency you want to deposit and enter the amount you want to convert into a DOGE coin.
- Now click the Preview Conversion button.
- Enter the amount and check EURO to DOGE conversion: You can check the converted amount of DOGE and if you feel okay, press the “Convert” button to proceed and complete your transaction.
- Your conversion process is successful.
- Now click on view status to check the final updated status of your transaction. Now your crypto account has Dogecoin.
How can we create a Dogecoin Wallet?
To create a Dogecoin wallet, go to “dogecoin.com.” On the page, you will find that 4 operating systems are displayed: Windows, Linux, macOS, and Android. Select the one you want.
The following steps are based on creating a Dogecoin wallet on the Linux system:
1. Download The Wallet
- Click to download MultiDoge, a local Dogecoin wallet.
- Click on “Save” to download the file.
- Find the (.jar) file, and open the file with the File Manager you have chosen.
2. Set Permissions
- To set permissions, right-click on the (.jar) file, and click “Properties”.
- Go to the “Permissions” tab, and check the box next to “Execute” for the execution of the file as a program.
- Close properties window.
3. Launch as OpenJDK Java
Right-click on the (.jar) file again and hover over “Open With”. Then select OpenJDK Java 6 or 7 Runtime.
4. Install The Wallet
- Follow the installation process completely. Accept license to continue with the installation.
- Once the installation is completed, look for the MultiDoge shortcut and open it.
5. Use Your Wallet
- On launch, a loading bar appears on the bottom-left. Wait for 1 – 5 minutes to get the wallet synchronized.
- Once it is synchronized with the network, it can be used for the Dogecoin wallet.
- This way the Dogecoin wallet setting up is finished.
How can we use our Dogecoin Wallet?
The first thing is to set up the Doge Wallet on your mobile phone so you can use it on the go.
The wallet is already backed up and ready to use because it is synced with the blockchain.
To start using the Doge Wallet instantly, log in with email, Facebook, Gmail, or mobile phone number.
If a desktop is preferred to maintain cryptocurrency, then the account can be accessed on your web application. Dogecoins can be stored, sent, and received using Windows, Mac OSX, Ubuntu, or other Linux-based operating systems. The web apps are supported online through the browser, and hence no additional installations are required.
Now, once you get the Dogecoin wallet in your hand, you can use it in the following ways.
There are two options available at the very bottom of the home page of your wallet:
Request Coins – where you can raise a request for dogecoins from other users in the Dogecoin network.
Send Coins – where you can also send dogecoins to other users in the Dogecoin network.
How to Receive Dogecoin
- First, click on the “REQUEST COINS” button.
- Enter the number of coins you want to request from another user of the Dogecoin wallet. The value of the requested Dogecoin in the form of your respective national currency is visible to you.
- Scan the barcode available on the screen, generated by the user from whom you wish to request the amount.
How to send Coins
- First, click on the “REQUEST COINS” button.
- Mention the Dogecoin wallet address of another user to whom Dogecoins need to be sent, and the amount you want to send.
- And now click on the Send button.
Top 5 Dogecoin Wallets
Due to the availability of many Dogecoin wallets in the market, sometimes it becomes difficult for Dogecoin traders to decide which one is the most suitable Dogecoin wallet for a specific requirement. To help them, we have curated a list of top Dogecoin wallet apps available in the market which are not only easy to use but provide a super-secure environment for managing Dogecoins. The list comprises free and paid Dogecoin wallet apps.
The Dogecoin wallet is of two types, they are as follows:
Digital Dogecoin Wallet
Digital Dogecoin Wallet is easy to set up and easy to access, and it is available to use at no cost. However, it has some limitations like limited options, manual updates, and less security.
1. ZenGo
This is considered the best Dogecoin wallet for beginners and intermediate crypto traders who are interested in quick purchases.
Non-custodial and keyless characteristics of this wallet make it the simplest, most secure, and anytime recoverable wallet that can be used to invest in cryptocurrency. It has tremendous performance speed viz it can create an account in just 19 seconds. Therefore, it can be a true asset to store crypto.
2. CoinBase
This is another Dogecoin wallet considered best for Beginners. This wallet is one of the top Dogecoin wallets, and is used to purchase, sell, transfer, and store DOGE.
In this offline storage, a wide range of digital assets can be stored securely, and this wallet is supported in more than 100 countries.
3. Binance
If crypto traders want to have multiple features in their wallets, then Binance can be the best choice for them to manage their Dogecoins.
This one of the best Dogecoin wallets helps crypto traders to create a digital wallet. It also provides a platform where crypto traders can trade more than 150 cryptocurrencies.
It also provides an API that traders can use to integrate the current trading application.
4. Crypto.com
It is considered the best for active traders and anyone who prefers using crypto as an actual currency and not just for investment.
Crypto.com enables crypto users to buy 200+ cryptocurrencies with 20+ fiat currencies. It allows access, management, and spending funds anytime. Crypto provides the highest security and compliance standards.
Physical Dogecoin Wallet
It is also known as a crypto hardware wallet. Physical Dogecoin Wallet provides advanced features, the safest option, and it is free to use, but some of its few things make it complicated like it is hard to set up, less accessible, is expensive, and how to buy it.
It is also known as a crypto hardware wallet. Physical Dogecoin Wallet provides advanced features, the safest option, and it is free to use, but some of its few things make it complicated like it is hard to set up, less accessible, is expensive, and how to buy it.
The private keys play an important role in providing cryptocurrency with a secure environment. Now the main concern is how to store these private keys more securely so that these can be prevented from illegal activities like hacking and theft of digital assets.
The characteristic of digital assets is that a wallet can only be unlocked or restored by using private keys. Now just imagine what will happen if a PIN or the device on which the wallet is initially set is lost, and then in such a condition, how these funds will be recovered.
Crypto hardware wallets emerged as one of the best methods of storing cryptocurrencies because they enable users to store private keys offline away from the Internet or ordinary computers to eliminate the chance of theft of digital assets after hacking.
It allows crypto traders to sign and verify transactions offline without the dangers of hijacking the communications.
1. Ledger
It is best for those who are interested to store 5500+ crypto in one location.
The Ledger is a type of hardware wallet that supports multiple cryptocurrencies. This provides an LED display for payment validation and a PIN to confirm the payment.
2. LEDGER NANO S
It provides maximum security and control over digital assets. The Ledger Nano S keeps coins & NFTs offline and protected. It manages crypto anytime.
3. LEDGER NANO X
It is used to buy, exchange, lend and other crypto transaction services. The Ledger Nano X is one of the most popular physical wallets on the market. It provides unprecedented levels of security.
Conclusion
The article provides an overview of the dogecoin wallet and the various other concepts related to it, such as explaining the process of buying dogecoins. For further enthusiasts, we have also explained how to create a dogecoin wallet and how to use it.
The field of cryptocurrency is relatively a new one, and there are still many more new things to come.
FAQs
To buy a Dogecoin on trust wallet, download Trust Wallet for Dogecoin (DOGE). This is a mobile app that works with several crypto tokens and blockchain wallets. Crypto traders with Trust Wallet can have control over their funds. They can receive, send, store and exchange cryptocurrency within the mobile interface. To buy Dogecoin with Trust Wallet, crypto traders need to spend from $50 to $20,000 with a credit card or debit card directly within the mobile app.
Follow the following steps to sell Dogecoin on the Trust wallet:
– Open Binance App
– Go to your Binance wallet
– Choose “Deposit”
– Select “DOGE”
– Open the Trust Wallet app > select DOGE >
– Press “Send”
– Scan the QR code or copy the address > enter the amount
– Confirm and send
– Navigate to the Dogecoin page on Robinhood App
– Click the “Send” button
– Enter the amount of cryptocurrency required to send
– Enter the wallet address where it is to be sent
– Click “Review” to confirm all details are filled correctly
– Finally, click “Submit” to complete the transaction
To get a wallet go to “dogecoin.com”. On the page, you will find that 4 operating systems are displayed: Windows, Linux, macOS and Android. Select the one you want. Download and install the dogecoin wallet of your choice and then set it up to start using it.
– Download Trust Wallet and go through the signup process
– Select ‘Wallet’ -> ‘Tokens’ -> ‘Smart Chain’
– Select ‘BUY’ (top right)
– Select the amount you want to purchase (minimum 50$)
– Complete the signup process with Moon Pay, when the signup and purchase are completed a screen appears where the wallet should show the coins purchased previously.
– Now move on to https://pancakeswap.finance/swap and select “BNB” for the from and search and import baby dogecoin
– Select “I understand” and then select “Import”
An important step:
– Select the 3-line icon and set slippage to 12%, without doing this you will be unable to swap
– Close the modal and enter the amount of BNB you want to swap and select Unlock Wallet
– A dialogue will appear, select Wallet Connect
– Now select “Trust Wallet”
– Trust Wallet opens on your phone and selects “Connect”
– Once connected, do not select “cancel” instead, swipe out of the app and go back to the browser
– Now you would be able to select “SWAP”
– Select “Confirm Swap”
– If done successfully, a message will appear “Transaction Submitted”
– Return to Trust Wallet and disconnect pancake swap using the “Cancel” button
– A few minutes after your updated balance will be visible inside the Trust Wallet
A Dogecoin address can be defined as a long array of characters that starts with the capital’ D’ and is followed by any other capital characters or any number. It serves as the identity for crypto traders for making transactions of dogecoins in the wallet.
The top wallets that support Dogecoin are as follows:
– ZenGo
– CoinBase
– Binance
– Crypto.com
– Ledger
