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Tuesday, September 27, 2022

Dogecoins : What Are The Best Ways To Store My Dogecoins?

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Dogecoin (DOGE) began as a satirical joke, but the coin currently enjoys immense popularity as a crypto asset. The crypto coin appears 10th on the cryptocurrency market cap ranking, with a market cap of about $31 billion. Moreover, it reached its all-time high price in 2021. 먹튀검증

However, 2021 statistics show that hackers stole $14billion in cryptocurrency and the Dogecoin’s prominence makes it a target asset. Fortunately, multiple cryptocurrency wallets featuring security keys that prevent unauthorized access when you Buy DOGE assets exist. Below are the best hot and cold crypto storage assets compatible with the Dogecoin ecosystem. 

Ledger Nano S Crypto Wallet (Hardware) 

 

Ledger Nano S is arguably the most trusted hardware/cold storage device for cryptocurrency, compatible with over 1000 crypto ecosystems, including Dogecoin. It is highly portable at approximately 5cm long and weighs only 16.2 grams, meaning you can carry it conveniently. 

The device is user-friendly, hence ideal for beginners seeking to secure their Dogecoin assets. All you have to do is download the Ledger Live App and set it up on your device, use the app to trade, and confirm transactions by pressing designated buttons on the Ledger Nano S. 

However, the device’s strength lies in its outstanding security features. First, as a cold storage device, it is significantly less susceptible to internet hacks and keeps the pass keys stored safely. Moreover, it automatically times out after a stipulated duration of inactivity, even when connected to the app. 

Second, the hardware crypto storage utilizes a Secure Element (SE) chip loaded with a proprietary, tamper-resistant Ledger security software. Third, it is compatible with the FIDO U2F two-factor authentication system, adding a layer of protection to your pass keys. 

Moreover, the hardware also supports backup and restore features with its auto-generated 24-word recovery phrase. The recovery phrase is like an override code that you can use to access your wallet, even if you lose your pass keys or the wallet gets deleted. The hardware crypto wallet generates the 24-word recovery phrase during setup; hence you should copy and store the code in case of an eventuality. 

Besides its top-grade security features, Nano Ledger S is also popular for its affordable price. Moreover, it comes with a 14-day return policy ensuring customer satisfaction. 

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Guarda Wallet (Software) 

 

Guarda is a multi-asset storage wallet that stores hundreds of thousands of cryptocurrency assets and blockchains, including Dogecoin. It is arguably the most secure crypto hot storage, given that it has never experienced a hacking incident since its inception in 2017.  

Besides asset storage, the wallet supports multiple crypto-related functions, including trading and swapping Dogecoin and other digital currencies. Moreover, the versatile wallet’s software is available as a desktop download, a mobile app, and a Chrome browser extension, allowing you to choose an avenue that best meets your needs. 

Its security features include exclusive compatibility with browsers that support two-factor authentication (2FA). Second, it also generates a seed/authentication phrase during setup for backup purposes. Third, the software’s mobile app supports face ID recognition, enhancing security. 

Guarda is relatively costlier than most hot crypto storage wallets, but its end-to-end asset management and top-notch security features are worthwhile. The software has versatile features, including an intuitive interface for beginners and advanced secondary features for expert traders. 

Dogecoin Wallet (Desktop and Mobile) 

 

The Dogecoin wallet is the official wallet created to match the Dogecoin ecosystem. It is available in two desktop versions, including Dogecoin Core which allows you to download the entire Dogecoin blockchain on your computer.  

Dogecoin Core’s cold wallet is its ultimate security feature, protecting your wallet from online crypto hacking. Moreover, having the entire blockchain on your desktop allows you to participate in Dogecoin mining. 

However, you can opt for the lite Dogecoin wallet version if you lack ample memory storage in your computer to store an entire blockchain. Moreover, a mobile version of the official Dogecoin wallet is available but only supports Dogecoin transfer and storage. You can sync it with the desktop version for convenience. 

Besides its cold storage capacity, the Dogecoin wallet also utilizes password encryption, protecting your pass keys against server hacks. The Desktop/mobile wallet is a project under the official Dogecoin Foundation, which supports security upgrades to improve the user experience on the platform. 

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Image Source: Pixabay.com 

Binance Wallet (Software) 

 

Although Binance is popular as a crypto exchange platform, it also supports a crypto wallet function for traders to store select cryptocurrency assets and tokens, including Dogecoin. Binance supports the Application Programming Interface (API) access control function that keeps internet connections private and monitors the data between integrated systems. 

Second, the software also utilizes stringent sign-in protocols, including two-factor authentication supported by an authenticator app. Unlike email and SMS authentication, authenticator apps protect your passkeys from network security vulnerabilities like network inception techniques. Third, it supports whitelisting features, allowing you to restrict network access to identified and verified entities. 

Moreover, the Binance wallet is compatible with the two most trusted crypto hardware wallets, Ledger and Trezor, via API; it is also available as a mobile app. The crypto wallet is 100% free and includes 24/7 access to customer support via Live Chat. 

Trezor One Wallet (Hardware) 

 

Trezor One is a cold storage wallet providing a high level of security for your pass keys online. It is compatible with Linus, macOS, and Windows operating systems, and its installation is a straightforward multi-step process. 

However, although the hardware’s key security feature is its offline function, it is compatible with a Trezor app called the Trezor Bridge that facilitates a secure internet connection. The Trezor Bridge is a background app that, once installed, mediates communication between the Trezor One hardware and your browser. It facilitates secure sign-ins to crypto exchange platforms and adds your signature to authorized transactions. 

Besides Trezor Bridge, Trezor One also supports secure two-factor authentication. Moreover, it also features a recovery seed phrase containing 12-24 words for offline devices and wallet backup. 

Thanks to Trezor Bridge, the Trezor One hardware wallet supports the Dogecoin exchange. The wallet hardware is also among the most affordable Dogecoin storage options. 

 

Conclusion: 

 

Dogecoins are valuable assets that qualify as lucrative income streams in short-term and long-term wealth-generating investments. However, you can only reap the above benefits if you keep your Dogecoin assets safe from hacking and theft. The Dogecoin-compatible hard and cold wallets above protect your wallet’s pass keys and keep your Dogecoin assets secure.  

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