The Dogecoin (DOGE) cryptocurrency is one of the most recognizable coins. Its official appearance dates back to 2013. Initially, the idea was to create a comic coin, the face of which would be a dog of the Shiba Inus breed. The developers set a goal to remove themselves as much as possible from all connections with Bitcoin, which they considered the cryptocurrency of the shadow market.
Starting in 2022, you can trade and store the Dogecoin cryptocurrency on the most liquid exchange, Binance (Binance.com). The pairs available on it are DOGE/BTC, DOGE/USDT, DOGE/BUSD. Great Danes are also traded on fiat exchanges: EXMO, CREX24. On February 9, 2022, it was added to the regulated exchange Currency.com.
Over the years, the Dogecoin cryptocurrency has not only become popular and liquid, but has a close-knit community. In this review, we will look at wallets for Dogecoin, what they are, how to create and use them, and how to find a cryptocurrency address. Such questions arise for many who work with the DOGE coin on cryptocurrency faucets or crypto exchanges.
Dogecoin address of the official Dogecoin Core wallet
Before moving on to the instructions for installing the dodge wallet program released by the network administration, let’s try to briefly explain what software for storing digital assets is. Comparing a crypto wallet with a regular wallet is not entirely correct. Digital coins, including doge, are on the blockchain. Copies of the blockchain are held on many nodes; losing one of them does not matter. You can reinstall your wallet multiple times and gain access to your assets again.
The distribution of Dogecoin coins between users is counted through certain public addresses. These addresses begin with a capital letter "D" followed by a large string of letters and numbers. You can share your public Dogecoin address with any network participant. This is what they use to send you Dogecoin. If there is a public Dogecoin address, or, to put it another way, a public key, then there must be a private one. He is. The secret key you use to authorize the network to send Dogecoin to another address. If you lose your private key, you will lose access to the coins associated with that key's public dogecoin address. If someone else finds out your private key, they can take all the coins from the public doge address.
Dogecoin Core downloads a complete copy of the blockchain to your hard drive. The wallet software references this blockchain to allow you to work with your coins, while it is running it becomes a node that contributes to the main network.
Nuances and possible problems
Most users sooner or later have problems using the Dogecoin wallet, whether this is due to technical glitches or difficulties with the wallet itself. Typical problems:
- There are no mandatory transactions. In this case, restarting the wallet may help. If this does not help, then there is a high probability that the block chain has split. To do this, you need to update the wallet, download the latest program, install it and go to the configuration storage folder, then copy wallet.dat, delete the “bladat” folder, launch the updated program, the correct block chain starts to run.
- The entrance to the wallet is blocked, an inscription appears in English: “Failed to check whether you have 2FA enabled.” To solve the problem, you should enter in the login line not the wallet address, but the actual wallet identifier, that is, 36 digits. Then, after logging in, you need to click the “Import Export” boxes and copy the encrypted and unencrypted wallet. It is mandatory to make a copy of the “paper wallet”.
At the end of 2022, cryptocurrency mining began to decline, which indicates possible restrictions on the issuance of coins. This will contribute to the growth of currency capitalization, which will ultimately bring Dogecoin to the level of the world's leading crypto coins. Experienced miners bet on the growth of Dogecoin quotes, which is why it is not worth converting all accumulated coins into Bitcoin and other currencies. You need to leave at least a small amount of coins for further earnings on the strengthening of the currency.
Instructions for creating a Dogecoin Core wallet
Before installing a Dogecoin fat wallet, make sure you have enough free space on your HDD. The program itself takes up 14 Mb, but the doge ecosystem blockchain weighs 122 GB, and the volume of data is constantly growing.
To download the Doge Core wallet, go to the official website of the crypto network https://dogecoin.com and select the program adapted to your operating system. Once you select the appropriate link, you can download the dogecoin wallet, then begin the installation.
Once installed, the Dogecoin wallet will begin downloading the “Blockchain”.
Wait until it establishes a connection and downloads the entire directory, and then proceed to create a password.
- Enter "Settings".
- Select "Encrypt Wallet".
- Create and confirm a password.
- Save a backup copy of the cipher in a safe place and click OK.
A warning window will appear: “If you lose your password, you will lose all your Dogecoins.”
Select "Yes" for encryption, reboot your wallet. Done, the full node is running and now you can top up your balance.
Create a backup copy, to do this, select File/Backup Wallet on the toolbar, save the “wallet.dat” file in a safe place. To improve security, regularly scan your computer for viruses and change your password periodically.
A complete guide to installing and using Dogecoin Core wallet is available at the “Community-maintained User Manual” link, which is in the program download window.
Brief information about Dogecoin
Software developers Billy Marcus and Jackson Palmer created Dogecoin in late 2013 but didn't take it seriously. Much to the surprise of programmers, people began to use the altcoin meme immediately after its release: in the first month, the dogecoin.com website was visited by 1 million+ unique users. In online crypto circles, Doge quickly became popular, with people sending Dogecoin to each other for fun.
At the beginning of 2014, the first DOGE was worth $0.001540753 , so sending a crypto coin with a dog on it as a joke was not a problem.
DOGE is a fork (branch) of Litecoin. The coin is considered inflationary because, unlike Bitcoin, there is no finite number of coins that can be mined. As with BTC, its mining uses a Proof-of-Work algorithm.
