Dogecoin is a cryptocurrency created in 2013, originally intended to make fun of the altcoin boom that occured that year. Since its release, a community has formed around the coin, which is used primarily as a tipping tool on various social media platforms. The currency is roughly based on Litecoin, with several differences, including a block time of 1 minute, compared to Litecoin's 2.5 minutes between blocks. Dogecoin is inflationnary by design and has no supply cap, in contrast to Bitcoin which is capped at 21 million bitcoins.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Dogecoin. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing Dogecoin and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Dogecoin without any technical knowledge. Here is a brief overview of the existing wallet options to store your Dogecoin:
Hosted wallets are wallets where the private keys to your Dogecoin are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Dogecoin online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
A software wallet is a program installed on your computer or other device in order to use and manage your Dogecoin. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Dogecoin, and if malicious parties have access to your device, your private keys (and therefore your Dogecoin) can be stolen.
A hardware wallet is a physical device on which you can store your Dogecoin offline. It is one of the safest ways to store your Dogecoin, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Dogecoin is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Dogecoin. Once you have purchased Dogecoin on Bitvavo, you can choose to send your Dogecoin from your Bitvavo wallet to your own software or hardware wallet.