A digital financial asset needs secure storage. Online threats make cryptocurrencies vulnerable to leaks, hacks, and other malicious activities. Dogecoin, one of the most popular cryptocurrencies in the world, also needs similar security. Before buying a Dogecoin, it is important to find the best crypto wallet for storage.
Finding the best Dogecoin wallet is not that easy. There are different types of cryptocurrency wallets for storing Dogecoin. Some wallets are online and software-based, while some are hardware-based. Then, there are full node crypto wallets that are a bit more complex to operate. Among these types, the best DOGE wallet can be determined based on the security feature. A DOGE wallet that works well with all decentralized cryptocurrency exchanges is also considered a suitable option. Similarly, the best Dogecoin wallet should also provide an easy and secure way of buying and selling DOGE.
What is the Safest Way to Store Dogecoin?
Every decentralized exchange platform for cryptocurrency uses secured storage to store the coins bought by traders and individuals. Dogecoin exchange websites, however, require more secure storage, compared to other platforms. The security aspect of DOGE money is still nascent. Traders look for an integrated wallet to buy, sell and store their Dogecoin. In addition to this, Dogecoin transactions require seamless integration with the exchange platform. Hence, the safest way to store Dogecoin is in a hardware crypto wallet.
A hardware-based cryptocurrency wallet is a physical storage device. It stores the information on private keys that are used to enable Dogecoin. A hardware DOGE wallet secures your Dogecoins from online threats. It stores your Dogecoin in an offline environment. It also protects your transactions from the online risks of distributed ledgers.
The Best Dogecoin Wallet in 2021
Since its emergence, Dogecoin has become one of the most popular cryptocurrency. It is highly volatile crypto and that’s why investors need to think before investing and storing. Find more about Dogecoin’s future price prospects and invest accordingly. However, after investing, it is important to store your Dogecoins safely.
One of the best Dogecoin wallets in 2021 is Trezor One. Most crypto experts consider Trezor as the original hardware cryptocurrency wallet. It is one of the safest digital platforms to store, buy, and sell cryptocurrencies. For Dogecoin, Trezor One is the safest bet. The wallet is also one of the cheapest options in the market. However, it is completely ramped up with top-notch hardware security.
Developed by SatoshiLabs, Trezor One is available at $100. It is regulated by the Czech Republic, which is a crypto-friendly market. Trezor holds the reputation of being the most trusted hardware wallet in the crypto space. The wallet has extensive support for cryptocurrencies, which also includes Dogecoin. Currently, the wallet also stores the non-refundable token variants of Dogecoin.
The wallet works similar to Ledger Nano, which is another popular Dogecoin wallet. Trezor stores private keys on different hardware components. The Dogecoin wallet is active on your device only when you require to make a transaction. This makes it hard for hackers to steal your DOGE through online connections. Therefore, Trezor hardware wallet is the safest and the best place to store DOGE.
Some of the key features of the Trezor Dogecoin wallet include:
- Seamless interactions with Trezor Bridge platform
- Easy connection between your device and your browser
- A simple and easy-to-navigate Trezor UI
- Access to Trezor Model One Home Interface, which works as an entry-level wallet
- Easier wallet operations without major manual digital inputs
In terms of Dogecoin storage, Trezor also supports more coins. Hence, it helps you buy and sell DOGE for other coins instantly. It also supports the latest updates on cryptocurrencies and non-ERC20 coins. In terms of security, the wallet holds greater capabilities through its data encryption functionality. End-to-end offline storage ensures that holding these coins is safer at Trezor One than anywhere else.
3 Things to Look For in a Dogecoin Wallet
There are different factors to look for while selecting a Dogecoin wallet. These factors determine the safety and efficiency of a Dogecoin wallet. Some wallets are easy to access but prone to scams. Some are high on security but come at high prices. The following three factors can help you find the best Dogecoin wallet in 2021.
#1 Access Control
Crypto wallets that provide easy access are not quite ideal for storing Dogecoin. You need wallets that strictly work with private key access. This increases the security of your DOGE money.
#2 Free vs Paid
Paid wallets are trustworthy compared to free wallets. Paid wallets provide full control and enable advanced features for the users. It is wise to pay some fees instead of compromising the security of your crypto wealth for free services.
#3 Offline vs Online
To store Dogecoin, offline devices and hardware-based wallets are the safest bet. Online crypto wallets are at risk of serious cyber attacks. Offline wallets ensure that your Dogecoins stay safe even when you’re not accessing them.
Any Dogecoin wallet that provides the utmost level of security is safe. Dogecoin transactions are becoming volatile every passing day. Hence, your Dogecoin wallet should also be prepared to execute these transactions accordingly. Sending and receiving Dogecoin from your crypto wallet should be a transparent process. Your Dogecoin wallet address should also be kept completely confidential, especially from unknown users.