Mining for cryptocurrency is popular but not only option to obtain it. If you want to buy Dogecoin and hold Dogecoin, that is possible. Getting started buying Dogecoin requires setting up a wallet, getting an address, and purchasing the coins from an exchange.
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Crypto Wallet
Your cryptocurrency wallet doesn’t store your funds, and it holds your cryptographic keys. These keys allow you to access your funds and lose access to your cryptocurrency if you don’t have your key. Therefore, you will want to have a wallet set up and ready to go before you buy cryptocurrency so you can quickly gain complete control and access to the currency you purchased.
You can choose either a hardware or software wallet. A hardware wallet stores your keys offline on a device like a USB drive. Because they are offline, it is more difficult for hackers to access your accounts, and it is easier for you to control when the wallet is accessed. If you are interested in a hardware wallet, Ledger or Trezor are good options that are both known for their security and ease of use.
Software wallets are more flexible because you can install them on just about any phone, computer, or tablet, making them much easier to access on the go. A non-custodial wallet gives you complete control over your keys.
Exodus is an easy-to-use option. Exodus supports hundreds of types of cryptocurrencies, and you can use their wallet to exchange one currency for another. Exodus is available for use on a computer, iOS, and Android.
Dogecoin Address
You will need an address for your wallet. This address is specific to Doge, and they will send it to you. The address is similar to an e-mail, it can be displayed publicly, and you can safely hand it out.
Anybody who has this address can only add to your account, and they cannot withdraw or transfer any funds out. The exchanges use this address to send you the cryptocurrency you have purchased from them.
Cryptocurrency Exchange
You will need to sign up with an exchange in order to purchase Dogecoin. The exchange will take your fiat currency like dollars, euros, or pounds and will convert that to cryptocurrency. You will need to set up an account with one of the exchanges.
Most exchanges will allow you to purchase crypto with a debit card or major credit card.
The exchange will charge a fee for their services. Costs vary from exchange to exchange, and you should investigate the fees before purchasing so that you understand the total amount you will be paying.
There are several reputable exchanges to choose from, but not all exchanges are available everywhere, and not every exchange offers every type of currency. Binance, Kraken, and Coinbase are some of the most popular exchanges. In addition, Ndax is available for purchase in Canada.
Once you have bought your cryptocurrency, transfer it to your personal wallet as quickly as you can do so. Then, get your Dogecoin under your full control and secure it in your wallet.
For more information about Dogecoin and cryptocurrency, visit our YouTube channels at Geekrar or CryptoJar. You will find plenty of helpful information about cryptocurrency from a beginner’s perspective, guides, tools, and techniques.
VIDEO: How to buy Dogecoin
Mine Dogecoin
Mining cryptocurrency can sometimes be very difficult because there are so many factors to consider. Over the last year, new players have emerged attempting to simplify the process. With the popularity of Dogecoin, one technique stands out and you can do it on almost any PC. If you want to try it out, check out this article of the video below.
