Dogecoin Wallet | All About Dogecoins and Dogecoin Wallets - 2021
When you buy Dogecoins, it is important that you store them safely so that no one has access to your stash. You can therefore store your Dogecoins in a Dogecoin wallet, which is designed to store the coins safely.
Cryptocurrencies such as Dogecoin are decentralised in nature, and therefore cannot be deposited in a bank like physical money.
Buy your first Dogecoins now! - A STEP PLAN
1 - Choose a broker: Find a suitable cryptocurrency provider (we recommend eToro).
2 - Deposit money: Simply deposit money into your account so you can start immediately.
3 - Choose a cryptocurrency: Search for Dogecoin at the broker where you made an acocunt.
4 - Buy the cryptocurrency: Decide how much you want to invest and open your first transaction!
Ready to start buying cryptocurrency? Click on the green button and start immediately!
The makers of Dogecoin have also developed their own wallets called Multidoge and Dogecoin Core so you can securely store your Dogecoins.
In this review you can read what the Dogecoin wallets are all about and how to use them. You can also learn the best way to buy Dogecoins step by step.
What is the Dogecoin Wallet?
Although it started as a joke, the Dogecoin price skyrocketed after Elon Musk, CEO of Tesla, mentioned on Twitter that this is his favourite coin. Since then, it has become one of the better known crypto currencies on the market.
Dogecoin Wallet
If you want to buy dogecoins, you will need to store them in a cryptowallet to keep them safe. Dogecoin has developed its own two cryptowallets, Dogecoin Core and Multidoge.
Dogecoin Core is the full standard wallet, which downloads the synchronised blockchain to your device. It verifies incoming transactions on your own computer, so you don't have to worry about the payment not coming through.
Multidoge can be seen more as a light version, which does not store the blockchain on your computer. Because of this, you can't perform large transactions with this wallet, but it takes up little bandwidth and memory on your computer.
How do I purchase Dogecoins for my Dogecoin Wallet?
In order to use the Dogecoin Wallet, you must of course purchase Dogecoins. Below is a step by step guide on how to begin investing in Dogecoins.
We will also show you how to store the Dogecoins you have purchased in your Dogecoin wallet. Furthermore you will read all about a dogecoin wallet iPhone and other Dogecoin wallets you may choose to use.
Step 1: Choose an online broker | Step 4: Purchase Dogecoins |
Step 2: Create an account | Step 5: Store your newly purchased Dogecoins |
Step 3: Deposit funds into your account | Start directly at eToro |
Step 1: Choose an online broker
Crypto is offered by several online brokers and crypto exchanges. It is important to learn more about the providers and to choose one that meets your expectations, so you will not be surprised.
The cryptocurrency providers often differ a lot in the way they work. For example, most brokers have a different range of cryptocurrencies and there is also a difference in how the coins are offered.
eToro
We recommend eToro as a recommended broker if you are a beginning investor and want to start investing. The trading platform is very user-friendly and helps you to build a diversified portfolio.
For example, you can make use of numerous user-friendly features, such as the CopyTrading function. With this tool, you can view the portfolios of experienced investors selected by eToro and even copy them in their entirety.
This way, you can easily create a strong and diversified portfolio. If you are not yet comfortable with investing, you can first start with a free demo account.
This way you can invest with virtual money without any risk. Are you then ready to invest with real money, you can start low thanks to the minimum deposit of $50 (€42).
At eToro, in addition to buying crypto, you can also invest in a variety of other trading forms, such as trading in ETFs, stocks, indices and commodities. If you trade in stocks and ETFs, you even pay 0% commission.
eToro is regulated by the FCA and CySec. You can therefore confidently invest through this platform without running unnecessary risk.
Would you like to start for free today at eToro? Then create an account today and explore the platform!
Libertex
One of the most popular and oldest online brokers in the world is Libertex. If you trade in CFDs of trading products such as cryptocurrency.
Trading in CFDs means that you do not buy the currency itself. Here you put your money on the movements of the price of a particular currency, such as Dogecoin.
CFDs also offer additional features such as a leverage effect. This allows you to increase the value of the money you have wagered, thus increasing your return per euro wagered.
Please note, however, that your losses will also increase due to the leverage effect. If you want to avoid the risk of large losses you can set a stop-loss, so that your losses will not exceed a limit which you have set.
Libertex is based in Cyprus and was able to obtain a European license. Therefore, this broker is under the supervision of the CySEC, a regulator on the European island.
In addition to Dogecoin and other cryptocurrencies, Libertex also offers a wide range of other trading products. For example, at this broker you can also invest in CFDs of stocks, commodities, indices, forex trading and ETFs.
At Libertex you can create a free demo account, with which you do not have to put in real money. This is highly recommended for beginners, as it allows you to use virtual fake money to get acquainted with how the platform works, and to practice investing in CFDs without losing real money.
Once you get the hang of the platform and investing, you can start investing real money from the low minimum deposit of €100. Moreover, you get a discount if you deposit higher amounts into your account.
Libertex the trading place for you? Create a new account quickly and easily and start trading crypto immediately!
Bitvavo
Bitvavo is a Dutch crypto exchange where you can buy various crypto currencies. Bitvavo is registered with DNB (the Dutch Central Bank) and specialises entirely in trading cryptocurrencies.
Bitvavo not only offers the big coins such as Bitcoin and Ethereum, but they also have a large selection of the lesser known crypto currencies. This broker offers more than 50 different cryptocurrencies, including Dogecoin, and this number is only expected to increase in the coming years.
Unlike Libertex, at Bitvavo you do invest directly in the crypto currency, so you actually receive it. So suppose you want to buy your Dogecoins here, then that means you have to store them in a Dogecoin wallet.
Bitvavo is very suitable for Dutch people who want to start investing in cryptocurrency, because the entire platform is in their own language. In addition, Bitvavo does not have any extra functions which make the platform more difficult to understand, so that it remains very clear.
Bitvavo distinguishes itself from other crypto exchanges by its low transaction fees. Money can easily be transferred to your account through various payment methods, such as iDeal.
Prefer a Dutch crypto exchange? Bitvavo is popular in both the Netherlands and Belgium. Try it yourself!
Binance
Binance is known as the largest crypto exchange in the world. This Chinese company has a huge offer in cryptocurrency.
Due to the regulations America has set for Chinese companies, American investors cannot use Binance. However, the platform is available to European and Asian investors.
These investors can benefit from the wide range of cryptocurrencies on offer. Binance also trades several of its own coins, which makes it easier and cheaper to use the platform.
In fact, you can use the Bincance Coin as a payment method within the platform to get discounts on transaction fees. As a result, this coin is now one of the most valuable cryptocurrencies in the world.
When you trade Dogecoin on Binance, you are investing directly in the coin, so you need to store the coin in a good place. Binance gives you the option to leave the coin on the platform, but also offers wallets to store your crypto coins in.
You can of course also store your coins in another location, such as the Dogecoin Core. On the Binance platform, you can easily send your Dogecoins to other platforms for storage.
Binance has been popular among crypto exchanges for years. It offers many options to trade crypto. Start today by creating a new account!
Capital.com
Capital.com is a relatively new broker that specialises in offering CFDs. They offer all sorts of different products including cryptocurrency, but also shares, commodities, ETFs and more.
It is a safe broker because it is licensed by the UK regulator FCA and the Cypriot regulator CySEC. With these licenses, they are allowed to serve clients from all over Europe.
Capital.com trades cryptocurrency as a CFD. So when you buy your Dogecoins here, you don't actually receive the currency, but you bet on the Dogecoin price.
At capital.com you can also trade CFD crypto. Take a look at the platform or start trading crypto via capital with a simple click of a button!
Step 2: Create an account
Time to create an account at the broker you have just chosen. Creating an account at most brokers goes in a similar way, so in this example we'll look at eToro.
You go to the eToro website and simply register by providing an E-mail address and password.
After this you will receive an Email which you can use to activate your account. If that was successful, you can start practicing in eToro with the free trial account.
Do you want to get started with real money? Then you have to go through some additional steps to prove that you are behind the account. You will have to send in a verification copy of your identity document and fill out a questionnaire in which eToro tests whether you have enough knowledge about investing.
Step 3: Deposit money into your account
If the verification is approved by eToro, you will be notified. From that moment, you can fully get started with all the functions of the platform, and start investing with real money.
However, you must first deposit money into your account. At eToro, this can be done using payment methods such as PayPal, iDeal or via bank transfer. You must make a minimum deposit of $50/€42.
eToro converts all currencies directly when investing, when necessary. So if you want to trade on a market that uses English pounds, you can just use your euros here to invest.
Step 4: Buy dogecoins
You can now invest the money you deposited in Dogecoins. You do this by searching for 'DOGEUSD' in the search bar.
You can then click on that market to make your first investments. To start trading Dogecoin click on 'Open Position'.
When you trade at a CFD broker you will be given a number of additional options that you can set when investing. These include leverage, stop-loss and take-profit.
Step 5: Storing your newly purchased cryptocurrency
For storing your purchased Dogecoin it is important where you bought it. With a broker such as Liberex, you trade in CFDs and do not own the currency itself, the CFDs simply remain with the broker so you can adjust or stop the investment at any time.
If you have purchased Dogecoins from an exchange and as a result you do own the coins themselves you will need to find a good place to store them. You can also leave them at the exchange itself but often a Dogecoin wallet is safer.
Dogecoin wallets come in many different forms, you have hardware wallets, online wallets and dogecoin wallets for your smartphone. You can send and receive coins from a wallet or leave them for a longer period of time.
Convinced and want to start investing in Dogecoin? Then create a free account at eToro today!
How do I use a Dogecoin Wallet?
How you use the Dogecoin wallet depends on which wallet you choose. Some basic things are the same for all wallets, for example a wallet is basically for storing coins safely and being able to send them to other users.
If you purchased Dogecoin from a crypto exchange like Binance, you will first have the choice to leave the Dogecoins at Binance. If you have properly secured your Binance account, this will not cause too much harm.
However, there are good reasons to use another wallet. If something were to happen to Binance or if, for example, there are problems when Dogecoin is at a record high, you will not be able to access your coins to trade them at that time.
With a wallet you can always access your dogecoins and you can choose where to send them. This way you can sell your coins at a different broker than where you bought them.
Dogecoin Wallet Hardware
One of the safest ways to store your cryptocurrency is to purchase a hardware wallet. These hardware wallets allow you to store many different coins in one place which is not connected to the internet.
There are two major brands in hardware cryptocurrency wallet; Ledger and Trezor. A Ledger Wallet Dogecoin is a small USB stick which you can connect to your computer, you need to connect the Ledger Wallet Dogecoin to be able to receive and send coins.
The advantage of a ledger wallet dogecoin is that you can store many more different cryptocurrencies on it. If dogecoins are only a part of your portfolio, with a ledger wallet dogecoin you can store all your coins at once.
Pros and Cons of Dogecoin Wallet
Pros
Cons
Dogecoin Wallet: Frequently Asked Questions
The Dogecoin wallet is a wallet where you can store Dogecoin.
Dogecoin is a cryptocurrency which once started as a joke. It is safe to say that the joke got out of hand due to the enormous price increases the currency experienced in 2021.
Dogecoin is similar to Bitcoin in its operation and must be stored in a wallet once you have purchased the coin.
How to store your dogecoins depends on how you invest. We will be happy to explain this to you.
If you wish to invest in Dogecoin you have two choices to get started online, you can speculate on the Dogecoin price by entering into CFDs or you can choose to buy and sell the coin yourself. CFD'ing on the Dogecoin price is best done with the online broker Libertex.
If you own them you can register for a wallet online.
You can store Dogecoin in a number of places, one of these is Dogecoin's own wallet which you can use to store your purchased coins. There are now many different wallets which also work in different ways.
You can choose an online wallet, a mobile wallet, a Dogecoin Wallet iPhone or a hardware ledger wallet Dogecoin.
As Dogecoin has been around for a number of years now and is one of the most popular cryptocurrencies there are also many different Dogecoin wallets. The best known wallets are MultiDoge, Dogecoin Core, Dough Wallet and Ledger and Trezor for a hardware wallet which can also store Dogecoin.
Yes there is a Dogecoin Wallet iPhone under the name Dough Wallet. Also for Anrdoid there is a Dogecoin wallet, if you search under the name Dogecoin wallet you will find it in the Google play store.
Dogecoin Wallet: Conclusion
There are several different wallets where you can store your Dogecoins. An obvious choice is to store the Dogecoins in either the Dogecoin Core or Multidoge, which are offered by the developers of Dogecoin itself.
What might be a better choice is to store the Dogecoins in one of the Exodus Wallets. This allows you to trade your cryptocurrency directly from your wallet, and you can easily send and receive cryptocurrency with this wallet.
Besides your Dogecoins, you can also store a whole list of cryptocurrencies in the Exodus Wallet. This way, you have all your investments in one place.
Finally, Exodus offers the possibility to transfer your cryptocurrency to a hardware wallet of Trezor. This way you can keep your Dogecoin safe in the hardware, while you can manage them in the software of Exodus.
You can also choose to buy Dogecoins in the form of CFDs. The best place to start is with the popular online broker eToro!
