Dogecoin for beginners

2. Dogecoin price

The price of Dogecoin (as well as prices of other cryptocurrencies and state currencies in general) is constantly changing. Dogecoin current price:

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3. Dogecoin wallet

Dogecoins (and all other cryptocurrencies) are stored in crypto wallets. Using wallets is very intuitive. The main part of the wallet is basically a table where you see how many Dogecoins you have received from a certain address or, conversely, have sent to a certain address.

Address, or officially 'public key', is a parallel of a bank account number. Each wallet generates our own unique address (or even several addresses) which will belong only to us. We can then send Dogecoins to this address and then send them further. If we want to send our Dogecoins to someone, we will ask them for their address, and vice versa, when someone wants to send it to us, they should ask for our address.

There are several types of crypto wallets:

• A software wallet - an app you download to your PC or mobile. There are two types, a classic (core wallet) and a lightweight (light) version. We recommend the light version as the classic version has to download the entire blockchain to your hard drive which is both time and disc-space-consuming. Some advanced software wallets allow you to purchase cryptocurrencies and even trade cryptocurrencies.
• Web wallet - no need to download any app. You simply create an account on a website that supports this service.
• Wallet on a crypto exchange - (centralized) cryptocurrency exchanges are advanced internet gateways that allow trading (buying/selling/holding) cryptocurrencies and as such already provide wallets
• Hardware wallet - a USB device designed to safely store your cryptocurrencies.
• Paper wallet - designed to hold coins safely but usually for longer periods. The wallet is printed on paper and your private key is securely kept offline.

Always back up your wallet passwords carefully (see the policy #8). There is no authority to restore them if you lose/forget them!

Screenshots of some wallets:


Unfortunately, most of these wallets are translated into English only. Fortunately, only very limited knowledge of English is required to use them. If you don't speak English then Binance is a good choice. This crypto exchange is translated into dozens of languages.

In the Links section, you will find links to various types of crypto wallets.

4. How to get Dogecoin

In the past, Dogecoin could be obtained simply by mining. Nowadays, unless you have a really rich uncle, the easiest way is to purchase it from a crypto exchange or crypto broker. One of the most popular crypto exchanges is Binance, which is available in many world languages, and therefore registration and use are very easy. Another very big crypto exchange is Coinbase.

5. Crypto Exchanges

In addition to paying for goods or services, you can also trade Dogecoins and other cryptocurrencies on the crypto exchange. It is very easy. You can speculate on the rise/fall of cryptocurrencies against the world's Fiat currencies (dollars, euros etc.) or against other cryptocurrencies. Or you can simply keep your cryptocurrencies here and earn interest from the exchange (Binance interest). Trading on crypto exchanges is always done in pairs - for example: the BTC/DOGE, USDT/DOGE, EUR/DOGE. Cryptocurrencies are exchanged here either for other cryptocurrencies, stablecoins or Fiat currencies. We can trade at the current price rate or we can set an order to be executed when the price has reached our desired value.

Crypto exchange - screenshots:




There are several crypto exchanges, a list of which can be found here:
Top Cryptocurrency Spot Exchanges

6. Dogecoin inflation

Unlike Bitcoin or Litecoin, Dogecoin does not have a fixed number of coins in circulation. There are currently (2023) about 139 billion Dogecoins in circulation, with another 5 billion added every year. This means that the annual inflation is currently around 3.6% and continues to fall each year.
Ironically, a fixed and steadily declining inflation rate can play a positive role in the expansion of Dogecoin as a global cryptocurrency.



If Dogecoin inflation seems big to you, check out the inflation rates (over the last few decades) for world currencies like the dollar, euro and others and you will be unpleasantly surprised at how these Fiat currencies are losing value.

7. The future of Dogecoin

Many experts claimed that Dogecoin would never reach the price of 1 (US) cent. And yet the price climbed (in 2021) to nearly 70 cents. The one-dollar price is therefore probably only a matter of time.

If, according to many predictions, Bitcoin's market capitalization eventually (longer time horizon) equals that of gold, most other cryptocurrencies will likely follow. In that case, the value of Dogecoin may exceed 5 dollars or more - especially if Dogecoin becomes a widely used currency in the meantime.

Of course, any predictions about cryptocurrencies are without guarantee and should be taken with some grain of salt.

The long-term future of Dogecoin, as well as other coins and tokens, depends on many factors. Unless the US and European Union governments (along with Bitcoin and other cryptocurrencies) try to ban it, there is a great likelihood that it will spread massively and survive.

Ideally, Dogecoin should be improved a little more, if possible. For example, a small fraction of a percent of each transaction could go to the Dogecoin Foundation, and the money would fund development, promotion, and most importantly, charitable events. Moreover, if Dogecoin mining was connected with research on medical treatment of severe diseases (as Gridcoin does), Dogecoin's position as the world's leading cryptocurrency would no longer be threatened.