Best Dogecoin Wallets: Cold and Hot Wallets
Dogecoin is one cryptocurrency that is gaining popularity among cryptocurrency enthusiasts. Like any other cryptocurrency, you need to store it safe from malicious actors. It is for this reason that you need a wallet.
The cryptocurrency can be stored in hot or cold wallets. In this article, we look at some of the best Dogecoin wallets you can use today. But first, let’s describe this cryptocurrency.
What is Dogecoin?
Dogecoin is a cryptocurrency similar to Ethereum and Bitcoin. However, its creation was initially out of sheer enthusiasm. In fact, its founders, Jackson Palmer and Billy Marcus, said that the idea was to make fun of Bitcoin.
And to trade it, you need wallet. But, what should you consider before settling for one? Let’s find out!
What to consider in a Dogecoin wallet
Compatibility: before settling for a wallet, ensure that it supports Dogecoin trading.
Security: another aspect to consider is security. You don’t want to trade Dogecoin only to find someone siphoned them out. You should look out for storage such as cold or hot and 2-factor authentication. Find out if there’s ever been security breaches in the past.
Ease of use: whether you are a seasoned or novice trader, you want a wallet that use can navigate easily. Look at its user interface, login process, clarity of instructions, and more.
Customer service: should you have hiccups using the wallet, are there channels you can reach their team? Do they have a live chat? Are contacts public? Consider all the above so you can have an easier time raising your issues.
Upgrades: a reputable company should constantly upgrade their wallet. This is to stay abreast of cyber-attacks and offer better wallet use, and more.
Data backup and restoration: does the wallet allow you to back up your data? Likewise, can you restore the backed-up data? This process should be straightforward.
Best Dogecoin wallets
The Ledger Nano X
The Ledger Nano X is touted as one of the best cold wallets. It is not only ideal for Dogecoin but also other cryptocurrencies such as Bitcoin. It is easy to use making it a go-to for beginners. You also get unmatched security so you can keep your crypto safe from hackers.
To log into your account, the wallet will prompt you to enter the password you provided when creating your account. And should you forget it, the 24-word recovery seed you set, will help you recover or change the password.
Unlike most wallets, Ledger does not hold a user’s private keys. This means you are the sole owner of the Dogecoins. Should you want to engage in live trading, the integrated Ledger Live got you sorted. it is easy to navigate, trade, and manage your coins.
For its design, you get a minimalistic yet sturdy wallet that you can take wherever you go. Once you make the purchase from the official website, you get to enjoy free shipping.
If you are looking for wallets with longevity in the market, consider buying the Trezor One wallet. It is ideal for Dogecoin trading and other cryptocurrencies. Most cryptocurrency enthusiasts praise it for its security. It comes with an embedded technology that prevents malware and keyloggers from stealing your pin.
Speaking of PIN, you can expect an unmatched PIN functionality that allows you to keep your coins safe. The wallet also undergoes constant upgrades ensuring that functionality and security are improving. Its design is also appealing to the eye coming in a compact minimalistic make.
This enables you to carry it in your pocket, bag, or hands. While small, it is sturdy ensuring it does not succumb to accidental drops or impact. You’ll also love its considerate pricing given the features it affords you.
If you want an app rather than a hardware wallet, consider using Coinbase. This app is suited for all levels of trading: beginners, intermediate, and advanced. It allows you to trade more than 50 cryptocurrencies among them Dogecoin. While it added the cryptocurrency in June 2021, you can enjoy seamless Dogecoin trading.
You can use Coinbase on the web or download its Android and iOS apps. The app is also generous on giveaways. For example, if you watch their educational videos, you’ll receive monetary rewards. Also, for traders with coins worth more than $1 million, they receive staking rewards.
Binance is arguably one of the most popular cryptocurrency trading platforms on the market. Like Coinbase, it supports over 50 cryptocurrencies. This hot wallet allows you to store your coins on your account allowing you to access them from any device.
While Binance is revered for its top-notch security, it is recommended that you transfer your coins into cold wallet. This is to bolster your coins’ security. That said, storing your coins on Binance allows you trade any time. This is especially ideal for cryptocurrency day traders whose interest is to make profit rather than hold coins for long.
There are many trading pairs for Dogecoin such as DOGE/USDT and DOGE/USD. And to initiate a trade, you only need $10 and you are on your way to making profits. The trade execution is also timely taking at most a few seconds. So, if you want to try your hand in trading DOGE, Binance is perfect app to start with.
This is yet another hot wallet that supports Dogecoin. Founded in 2014 by Cameron and Tyler Winklevoss, it is one of the top 15 cryptocurrency trading platforms on the market. It is beginner friendly while offering advanced options for seasoned traders such as ActiveTrader.
Besides DOGE, it supports more than 30 cryptocurrencies such as Bitcoin and Litecoin. It offers free transaction from US. Banks which is unlike platforms such as Coinbase. And if you want to trade directly with other traders, you can use the Gemini Clearing portal.
If you are looking for a robust cold wallet, KeepKey is such a wallet to consider. It is easy to use, comes in a trendy yet sturdy design and offers unmatched security. The wallet will generate a random PIN when you try to log into your account.
As such, keyloggers and other malware will not capture your PIN. Like other premium cold wallets, it allows you to create a recovery phrase that you can use to recover your coins should you lose it. the wallet is also lightweight and portable allowing you to use it on the go.
While not as popular as Coinbase and Binance, the wallet offers services that any cryptocurrency enthusiast yearns for. The free wallet provides you with newsfeed so you can stay abreast of happenings in the cryptocurrency industry.
With it, you can send and receive cryptocurrencies, use ShapeShift to continue with your exchanges, and engage traders on the platform. You can get Jaxx Liberty on Google and App store as well as a Chrome extension.
another wallet to consider is eToro. It is an easy-to-use wallet that provides unmatched security compared to other hot wallets. Besides Dogecoin, it supports more than 15 cryptocurrencies. As such you can seamlessly store your Bitcoin and Dogecoin in it. the platform is best suited for beginners thanks to the intuitive user interface.
and if you want to hone your trading skills, it comes with written and video educational materials. As such, you’ll have an easy time grasping the nitty-gritty of Dogecoin trading.
This wallet requires you to have a $10 minimum balance to initiate a trade. It supports more than 50 cryptocurrencies and your coins are FDIC insured. This means, in case of a hack, you’ll still get your assets back. Another benefit is the commission-free trading ensuring you reap all the profits. It is easy to use and comes in Android and iOS versions.
This cryptocurrency exchange platform allows you to trade Dogecoin with other cryptocurrencies. It also acts as a hot wallet so you can save your coins securely online. Besides, buying Dogecoin is a walk in the park thanks to the straightforward guide. With it, you can enjoy 2-factor authentication, cloud storage, and SSL certificates, among others.
Well, there you have it, the best Dogecoin wallets you can open today. As you can see, these wallets live up to their names by offering unmatched security. The cold wallets come in sturdy and portable designs so you can enjoy on the go trading. So, which wallet appeals to you? Let us know in the comment section.