Dogecoin has been one of the most popular digital currencies for a while now. This coin started as a joke and has become a leader in its field. But where should you keep your private Dogecoin keys to keep your money safe? What are the best wallets for Dogecoin right now?
How Different Crypto Wallets Work
Before selecting a crypto wallet for your Dogecoin, you should know that there are different kinds of wallets. There are usually four main crypto wallets: hardware, software, custodial, and non-custodial. We have articles that explain the differences between hardware and software wallets and between custodial and non-custodial wallets, but here we’ll give a quick overview.
Your secret keys are kept offline in a hardware wallet, a physical device. On either hand, a software wallet is all digital and usually comes as an app for your computer or phone. Software wallets are related to the internet, making them much more vulnerable to hacks than hardware wallets.
On the other hand, software wallets are often free, which is why most people who own cryptocurrencies choose this option. A custodial crypto wallet keeps your private keys for you, while a non-custodial crypto wallet gives you full control over and access to your private keys.
Most people prefer wallets where they don’t have to trust a third party to keep their money safe. But this doesn’t mean that custodial wallets are unsafe. A non-custodial hardware wallet is best for the highest level of security, but it is not always convenient. So, let’s talk about the best DOGE wallets to store your money.
Best Dogecoin Wallets
Binance’s custodial software wallet is our first choice. But don’t panic. Software custodial wallets are not always unsafe if you use a trusted provider with good security features. Binance’s custodial wallet works with a wide range of cryptocurrency keys, including Bitcoin, Ethereum, and Dogecoin.
With Binance’s wallet, you can use the platform’s many security features, such as two-factor authentication and an allowlist of addresses. Binance also gives its users trading advice and has two different exchange interfaces for beginners and experts. You can use one of these interfaces if you want to buy, sell, or bet DOGE on the Binance exchange.
Ledger is one of the best hardware wallet companies in the world. Its two main models, the Nano X and the Nano S are getting a lot of attention from people who own cryptocurrencies. Dogecoin private keys can be stored on the Nano X, and the Nano S. This wallet provider is one of our top picks for several reasons.
First, the wallets from Ledger use a special operating system called BOLOS, which stands for Blockchain Open Ledger Operating System. BOLOS keeps all of the existing wallet apps from talking to each other and lets DApp developers make secure source code. By keeping each app separate, the information doesn’t get passed between them and can be kept very safe.
Ledger also has a Secure Element (SE) chip that safely stores your seed phrases and private keys. SE chips are made to avoid hacks and other malicious attacks, even if they are very advanced. So, if you use Ledger’s wallets, you can ensure that your Dogecoin funds are safe. But it is important to remember that Ledger wallets are not free. The Ledger Nano S costs about $80, while the Nano X goes for about $150.
Exodus is a popular software wallet that can store over 200 cryptocurrencies, including Dogecoin. Exodus is a software wallet, but it doesn’t keep your private keys for you. With these resources, you have full management over your private keys.
Exodus also has several security features, like PIN protection, biometric login, and auto-lock, to keep the keys of its users safe. Since Exodus doesn’t keep your private keys, you can store them on any device you want. But a software wallet can only protect you so much because it mostly depends on the security features of your device to keep you safe.
So, if you want to use Exodus, you should ensure your device has a trusted antivirus program and a PIN or password login. Exodus also gives its users a 12-word recovery phrase that can be used in an emergency. You won’t lose your wallet forever if you forget your login information.
Like Ledger, Trezor is a popular company that makes hardware wallets. Because Trezor wallets are physical, they can store your private keys offline, which is a much better way to protect them from attacks from far away. The firmware for Trezor is also open source, so people can find bugs or security holes at any time and fix them.
But, unlike Ledger’s wallets, Trezor’s doesn’t have a SE chip. The company says this is because Secure Elements are closed source, which is not in line with its preference for open source. But Trezor has other security features, like two-factor verification, PIN protection, and an ultrasonic hardware seal. So, it can still be a safe place to store Dogecoin.
Coinbase’s wallet is also a custodial wallet, like Binance’s. This means that your private keys are already in the hands of the service provider, not you. This can be very helpful and take the pressure off the user, but as we’ve already talked about, many people think non-custodial wallets are safer. But if you think a custodial wallet is right for you, Coinbase Wallet may be a good choice.
Dogecoin is one of the well-known currencies that can be used with Coinbase Wallet. This wallet has several security features that can help keep your private keys safe. One of these features is called a “Vault.” With Coinbase’s Vault, you can keep your funds in a separate account that doesn’t let you withdraw crypto right away.
Users can choose a trusted person to check their withdrawals or have their leakages through a process of approval. This keeps people who shouldn’t be able to from emptying their wallets in seconds. Remember that you can’t use the Vault feature on the Coinbase app for phones.
Atomic Wallet is useful for more than just keeping your Cosmos (ATOM) private keys safe. You can also keep your Dogecoin funds safe with Atomic Wallet. Atomic Wallet is a safe software wallet that lets users store their keys in a way that doesn’t involve a third party.
This indicates that you have full control over your private keys and are the only one who can keep them safe. Like Exodus, Atomic Wallet allows you to back your secret keys on your device. You’ll need to give your device the right security features to keep your keys safe. But Atomic Wallet has several extra security features that make it harder for your private keys to be stolen.
First, the information you store locally is encrypted using symmetric AES encryption. TLS also protects any information from your account that is shared with a blockchain (Transport Layer Security). On top of that, you can safeguard your Atomic Wallet account with a password and use a 12-word seed phrase to get your wallet back if you need to.
KeepKey is a trusted hardware wallet made by ShapeShift, a well-known DeFi platform. Even though it’s not as well-known as Ledger or Trezor, KeepKey is a good product that can safeguard your digital assets.
KeepKey only works with 40 types of cryptocurrency, but Dogecoin is one of them. KeepKey is a hardware platform that lets users trade and transfer funds safely. It has useful security features like PIN protection and passphrases and can be used to purchase other fiat currencies with a credit card.
You can also give a single KeepKey device as many wallet addresses as you want. KeepKey starts at about $50, which is much less than other well-known wallets. So, KeepKey could be an option if you want a reliable hardware wallet but don’t want to spend too much money.