How would you feel if you have a wallet, just like your physical wallet, to store all your cryptocurrencies? Wouldn't it be great? The Dogecoin wallet is a perfect example of such an idea. Dogecoin wallet is a digital wallet to hold Dogecoins and perform all the transactions related to it.
This tutorial will introduce you to the Dogecoin wallet and will help you understand all the concepts related to it.
What is a Dogecoin Wallet?
- A Dogecoin wallet, very similar to a real-life wallet, is something where you can store, receive or send Dogecoins.
- It consists of its public and private key, which connects it to the distributed ledger over the Dogecoin Network.
- You can use your wallet's public key to track the transactions made by maintaining the anonymity of the users
- The private key of your wallet is used to approve transactions in the ledger
- Your wallet's public key is used to receive Dogecoins from other users. On the other hand, your wallet's private key is only used to send Dogecoins to other users in the network.
Dogecoin wallet is of two types, they are:
- Digital Dogecoin Wallet
- Physical Dogecoin Wallet
Now, you will explore some pros and cons of both of these Dogecoin wallets.
Digital Dogecoin Wallet
Physical Dogecoin Wallet
How to Buy Dogecoin?
Dogecoin can be bought by following a few very easy steps, which include:
Step 1: You need to create a Dogecoin Wallet.
You will need a Dogecoin Wallet to store all your dogecoins to make all the transactions more secure.
Step 2: Locate your specific Dogecoin address.
Dogecoin address is a long array of characters that starts from capital' D' followed by any other capital characters or any number. It acts as your identity for making transactions of dogecoins in your wallet.
Step 3: Find a source that sells Dogecoin.
You will need to find a digital platform to buy more Dogecoins and start your transactions from the Dogecoin Wallet.
How to Create a Dogecoin Wallet?
To create a Dogecoin wallet for yourself, you will have to go through the following steps:
Step 1: Choose the correct wallet. The founding and developing team of Dogecoin maintains the Dogecoin core wallet and MultiDoge wallet.
Here you will use the Dogecoin core wallet.
MultiDoge and Dogecoin Core - Dogecoin Wallets
Step 2: Download and install the Dogecoin wallet on your handset. You can also use the official website of this wallet for your windows.
Step 3: Open the Dogecoin wallet application and verify your Dogecoin wallet address.
And that is it. It is this easy to create and have your Dogecoin wallet.
How to Use Your Dogecoin Wallet?
Now, when you have your Dogecoin wallet in your hand, there are certain ways in which you can use it.
At the very bottom of the home page of your wallet, there are two options:
Request Coins - where you can request dogecoins from other users in the Dogecoin network
Send Coins - where you can send dogecoins to other users in the Dogecoin network
To Receive Coins, You Must:
1. Click on the "REQUEST COINS" button
2. Enter the required number of coins you want to request from another user of the Dogecoin wallet. You can see the value of the requested Dogecoin in the form of your respective national currency
3. And have the below-generated barcode scanned by the user you wish to request the amount
To Send Coins, You Must:
1. Click on the "SEND COINS" button
2. Type the Dogecoin wallet address of another user to whom you want to send Dogecoins, and the amount you want to send
3. And click on Send
And there you go, now you can use your Dogecoin wallet whenever and wherever you want.
Top 5 Dogecoin Wallets of 2021
These are the Top 5 Dogecoin Wallets of 2021:
Ledger Nano X - Ledger Nano X is one of the most popular physical wallets in the crypto world.
- It is very secure to use
- It supports more than 1500 cryptocurrencies
- It consists of a comfortable structure for an easy and smooth approach
Trezor Model T - Trezor Model T consists of a few distinct features that any Dogecoin lover would appreciate. It is one of the significant Physical Dogecoin Wallets.
- It is easy to set up
- It has high security levels
- It consists of a touchscreen user interface to make it more accessible
Keepkey - Keepkey is a Physical crypto wallet that offers its users some best security features.
- It is effortless to use
- It is considered among the most secure wallets
- It is pretty affordable
Binance - Binance is one the most popular crypto exchange platforms, which acts as an online Dogecoin Wallet.
- It is a very popular crypto exchange platform
- It facilitates the exchange of more than 100 cryptocurrencies
- It is very time efficient as it takes seconds to make one trade
Kraken - Kraken is, primarily, a cryptocurrency exchange platform but can perfectly act as a Dogecoin wallet. All you need to do to buy dogecoin is to register and make your trade.
- It is a very secure and reliable cryptocurrency exchange platform
- It charges a very low fee for every transaction taking place on it
- It accepts a pretty decent amount of fiat money
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In this tutorial, you saw everything about the Dogecoin wallet and its concepts like buying Dogecoins, creating a Dogecoin Wallet, and using it.
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