How to choose the best Dogecoin Wallet
Dogecoin is an open source cryptocurrency that features the likeness of a Shiba Inu dog. It was originally launched as something of a joke currency. However, no one is laughing now that DOGE is one of the top 30 cryptocurrencies and has even been ranked higher a couple of times. Ultimately, this means that you might be considering investing in Dogecoin yourself. If so, then the first step is always going to be to select the right crypto wallet for your needs.
Crypto Wallets Explained
If you want to invest in a cryptocurrency like Dogecoin, then you need to use a storage option. That’s what a crypto wallet is. These wallets allow you to store, receive or transfer your crypto. It’s worth noting that you don’t store the funds themselves on these devices and through these applications. Instead, what you’re storing is the key. This is a long-form code which allows you to access the crypto. Funds can also be accessed through a seed, which is a short-form option.
Both the key and the seed must be kept private
It’s important to note that both the key and the seed must be kept private. If someone gains access to your key or seed, they really don’t need anything else to withdraw or transfer any crypto that you might be storing. While it is possible to recover lost keys, this process is often time-consuming and difficult.
These wallets can also either be open source or private. Open source means that the code of the software and application can be changed and accessed by public users. One of the benefits of this is that it’s easier to protect against hacks as long as you can read the code. Alternatively, private-sourced software is not open and remains accessible only to the developers.
When selecting a crypto wallet, you need to think about what you need from this option. You might want a wallet where the main focus is security. Or, you could also be interested in an option that provides a user-friendly experience and rapid transfers. Be aware that some systems will provide different fees for transfers. You can even choose an option where you can choose and control the fees that you want to pay. This may enable you to access the option of faster transactions.
Different Types of Crypto Wallets
There are a few main types of crypto wallets that you can consider for storing DOGE. This includes a web application where your crypto is stored on a platform that can be accessed online. Lately, these are being considered sketchy due to numerous high-profile hacks, including on CoinSwitch.
Alternatively, you can think about selecting a hardware option. This option is often viewed as providing the greatest level of security, due to the fact that the codes are not stored online.
Alternatively, there are also mobile wallet apps. These are also secure because the keys do not tend to be accessible through the server. They also come with different features that provide numerous benefits.
A paper option is another possibility. Here the code is stored on paper, and it may use QR tech as well. Like any important document, the paper doc needs to be preserved and kept safe through typical measures.
Best Dogecoin Wallets Available
You might be wondering what the best Dogecoin wallet will be to match your needs. Well, there are a few possibilities to consider here. This will usually be determined by your usage and what you want from your wallet.
You might want to consider selecting a wallet that is designed specifically for the crypto you’re using. In the case of Doge, there are a few possibilities like this, including Dogechain.info. Here, creating an account is easy and fast. You can also rest easy knowing that files will be completely encrypted in your browser. There’s no access over your private keys and you are the only one able to decrypt the wallet. Even if there is an issue on the server, your account will remain completely secure.
Alternatively, there’s also Dogevault. The benefit here is that no information is stored and after there has been no activity for 60 seconds, it automatically logs you out. There’s a built-in tumbler system too. That means that you remain anonymous and secure during your usage and it is designed as a hack-proof option for users.
If you’re looking for an open-sourced wallet, then you can also consider Dogecoin. Here, it’s easy to send, receive and store your Doge. One of the benefits is the flexibility that this option provides. You can access it through any operating system from Windows to Linux and Mac. A significant advantage here is that you won’t have to worry about transferring your operating system.
Easy Recovery Option
You might be looking for a product that provides you with an easy recovery option if you lose your Doge key. If that’s the case, then we think you will be pleased with Exodus. While most recoveries are painful and tremendously difficult, Exodus keeps things simple. They can send a seed phrase and this can be used to immediately recover the coins. That’s great if the computer system breaks or the hardware becomes corrupted. It is also known to provide a high level of security and guarantee that you can access a simple user interface.
Ideal Hardware Choice
Finally, if you are looking for a hardware Dogecoin wallet, we certainly suggest Trezor. This is a little cheaper than some of the other hardware options but it still provides a high level of protection that you can trust. It also supports 700 other different tokens, so if you want to widen your trading options after you start with Doge, then you certainly can. The system can interact with the platform Trezor Bridge. As such, it is possible to use it through your browser and the private keys are kept on the device. This makes it far more difficult to hack.
We hope this helps you find the right crypto wallet that matches your individual needs. With great options for security and user-friendly systems, getting the right wallet should provide the peace of mind you need when investing in cryptocurrencies like Doge.