Dogecoin has been one of the most popular cryptocurrencies on the market for quite some time now. This coin, which started as a joke, has risen through the ranks to become an industrial giant. But where should you store your Dogecoin private keys to make sure your money stays safe? What are the best Dogecoin wallets out there today?
The Different Types of Crypto Wallets
Before choosing a crypto wallet for your Dogecoin, you should know the different types of wallets out there as they are not all the same. When it comes to crypto wallets, you often see four main categories: hardware, software, custodial, and non-custodial. We have special pieces explaining the differences between hardware and software, as well as custodial and non-custodial wallets, but we’ll quickly run through them here.
A hardware wallet is a physical device that stores your private keys offline. A software wallet, on the other hand, is completely digital and usually comes in the form of a desktop or smartphone app. Unlike hardware wallets, software wallets are connected to the internet, meaning they are significantly more exposed to hacks. However, software wallets are often free, which is why most crypto holders are leaning towards this option.
A custodial crypto wallet holds your private keys for you, while a non-custodial crypto wallet gives you full control and access to your private keys. Most people prefer non-custodial wallets as they don’t have to trust a third party to protect their money. But this does not mean that custodial wallets are unsafe.
For the absolute highest levels of security, a non-custodial hardware wallet is ideal, but not always useful. So let’s take a look at the best DOGE wallets for your money.
The Best Dogecoin Wallets
1. Binance Wallet
The first choice in our list is Binance’s custodial software wallet. But don’t panic. Software custodial wallets are not necessarily insecure, as long as you use a trusted provider with good security features.
Binance’s custodian wallet supports a wide variety of cryptocurrency keys, including Bitcoin, Ethereum and, of course, Dogecoin. Binance’s wallet allows you to take advantage of the platform’s various security features, including two-factor authentication and address whitelisting.
Binance also provides its users with trading advice and provides its users with two different exchange interfaces for beginners and professionals if you want to buy, sell or wager your DOGE funds using the Binance exchange.
2. Ledger (Nano X or S)
Ledger is one of the world’s leading suppliers of hardware wallets, with its two main models, the Nano X and Nano S, gaining a lot of popularity among crypto holders. Both the Nano X and S support Dogecoin’s private key storage, and there are a number of reasons why this wallet provider is one of our top picks.
First, Ledger’s wallets use a unique operating system known as BOLOS or Blockchain Open Ledger Operating System. BOLOS is designed to isolate all existing wallet apps from each other and allows DApp developers to create source code securely. By isolating each app, information is never exchanged in between, so it can be kept super secure.
Ledger also uses a Secure Element (SE) chip to securely store your seed phrases and private keys. SE chips are designed to prevent malicious attacks, such as hacks, even if they are highly sophisticated. So by using Ledger’s wallets, you can ensure that your Dogecoin funds are effectively monitored.
However, it’s worth noting that Ledger’s wallets are not free. You can pick up a Ledger Nano S for around $80, while the Nano X retails for around $150 (although prices vary depending on the site being used).
Exodus is a widely used software wallet that supports more than 200 cryptos, including Dogecoin. Although Exodus is a software wallet, it is non-custodial meaning it gives the users full control over their private keys. Exodus also has a range of security features to ensure its users’ keys are kept safe, including PIN protection, biometric login, and auto-lock.
Because Exodus is not a hold, your private keys can be stored locally on your chosen device. But a software wallet can only be so secure because it largely relies on your device’s security features to protect you from attacks. So if you want to use Exodus, make sure your device is equipped with a trusted antivirus and protected with a PIN or password login.
In addition, Exodus provides its users with a 12-word recovery phrase for urgent scenarios so that you don’t lose your wallet forever if you forget your login details.
4. Trezor (Model T or One)
Like Ledger, Trezor is another popular supplier of hardware wallets with two models: the Model T and Model One. Of course, because Trezor’s wallets are physical, they can store your private keys offline (in cold storage), protecting them much more effectively from remote attacks. Trezor’s firmware is also open source, allowing people to identify and patch vulnerabilities or bugs around the clock.
But, unlike Ledger, Trezor’s wallets don’t use an SE chip. The company argues that this is because Secure Elements is closed source, which goes against the open source preference. But Trezor does use other security features, such as two-factor authentication, PIN protection, and an ultrasonic hardware seal. So it can still act as a reliable Dogecoin wallet.
5. Coinbase Wallet
Like Binance, Coinbase’s wallet is also held, so your private keys are in the hands of the provider, not you. This can be very useful and take the pressure off the user, but many consider non-custodial wallets to be more secure, as discussed above. However, if a custodial wallet seems like the right choice for you, Coinbase Wallet may be a good fit for you.
Coinbase Wallet supports many well-known currencies, including Dogecoin. This wallet has a range of useful security features that can protect your private keys, including something known as a vault. Coinbase’s Vault allows you to store your funds separately in an account that prevents instant crypto withdrawals.
Users can either choose a trusted person to verify recordings or have their recording go through an approval process. This prevents unauthorized parties from draining your wallet in seconds. Please note that the Vault feature cannot be used through the Coinbase smartphone app.
6. Atomic Wallet
Atomic Wallet is not only useful for storing your Cosmos (ATOM) private keys. You can also use Atomic Wallet to keep your Dogecoin funds safe.
Atomic Wallet is a reliable software wallet provider that allows users to store their keys in a non-custodial manner. This means you have full control over your private keys, so their secure storage depends on you. Like Exodus, Atomic Wallet allows you to store your private keys on your device, so you should equip it with enough security features to keep your private keys safe.
But Atomic Wallet offers a range of additional security features to ensure your private keys are not stolen. First, your locally stored information is encrypted using AES symmetric encryption. All data from your account that needs to communicate with a blockchain is also protected with TLS (Transport Layer Security). In addition, you can use a password to protect your Atomic Wallet account and a 12-word seed phrase to recover your wallet in an emergency.
KeepKey is another example of a trusted hardware wallet developed by ShapeShift, a popular DeFi platform. While not as popular as the Ledger and Trezor models, KeepKey is still a well-established product that can protect your digital assets.
While KeepKey only supports 40 cryptocurrencies, Dogecoin is one of them. KeepKey allows users to securely trade and transfer money through a hardware platform, and it provides useful security features such as PIN protection and passphrases, and can be used to purchase other fiat currencies with a credit card. There is also no limit to the number of wallet addresses you can assign to a single KeepKey device.
KeepKey is significantly cheaper than other well-known hardware wallets, with prices starting at around $50. So, if you’re looking for a reliable hardware wallet but don’t want to spend too much money, KeepKey might be the option for you.
Keep your Dogecoin funds safe with a reliable wallet
It can be difficult to choose a crypto wallet that is a good fit for your preferences because there are so many options now. So if you want to keep your Dogecoin private keys safe, use the list above to find the best Dogecoin wallet for you.