The technology behind dogecoin isn’t that much different than the technology behind bitcoin or litecoin. It still requires software installation, a wallet and a little bit of knowledge in relation to cryptocurrencies. Once you follow the steps outlined below, it’ll be as easy as producing your own meme.
Creating a Wallet
Just like the wallet in your pocket, an online wallet for cryptocurrencies is the place to store your digital currency. An online wallet is where you send and receive funds. How do you even create one? Well, it’s pretty simple for both Windows and OS X:
– Download the software from Dogecoin.com
– Unpack the .zip file and run dogecoin-qt.exe.
– Encrypt your wallet immediately (go to settings then click Encrypt Wallet) and enter your passphrase.
It’s important to remember that if you have encrypted your wallet and have forgotten your passphrase then all the dogecoins you owned will not be usable anymore. Make sure that you remember the passphrase in its entirety and never lose it, forget it or share it.
Interested in tipping an author? Want to introduce a friend, family member or colleague to the world of cryptocurrency? Do you want to send dogecoins as a gift for a fellow digital currency enthusiast’s birthday? Well, sending one is quite simple and doesn’t take days to send or additional money to transmit.
To forward a dogecoin, browse to “Pls Send” and insert the address and amount you want to send the virtual money to under “Pay To.” It’s free to send small denominations, but much larger dogecoins may come with a transaction fee.
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You might have produced content that has become appreciated by at least one reader or you have offered a service that is valued by another individual. Either way, they may want to send you dogecoins as a token of appreciation.
In order to receive dogecoins, click on “Much Receive” and generate a new address to get a new public key. If you have various occupations online (writing, editing, web design, online retail) then it might be a good idea to have multiple addresses so you can properly organize your funds.