How to Keep my Dogecoins Safe Till 2016/18 or even 2020

[RonPaulBTC]

I can't imagine Doge is surviving the next years.

The last increasing value reminds me of a dying tiger.

At the end it is the deadliest.

So, maybe we see here the last big bubble before it comes to end.


Nobody knows finally what time will bring.

if Cryptos go popular, DOGE could become very very popular among kids and teens so I wouldn't call a game over yet, who knows.

[1713237781]

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[1713237781]

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[bitcoboss]

dogecoin will not die it will increase dogecoin to the moon!

[Willisius]

The outlook of dogecoin is completely irrelevant, this is about wallet security.

@Dudeperfect:

A paper wallet will work with the "official wallet" - it will work with unofficial wallets like MultiDoge too. If you wanted to spend the coins in your paper wallet, you would go to Help > Debug Window, click the Console tab, and put in

Code:

importprivkey ThePrivateKeyOnYourPaperWalletGoesHere

The private key starts with '6' or 'Q' for dogecoin.

So Paper wallet is useless, if site "dogechain.info" will not be there in 2020.. but If I am not wrong, I interpret your (all replies) messages as I can keep my doges secure if properly preserved.

So here is what I should do right now to keep my doges secure till 2020 (Writing in tutorial style, please confirm authenticity)


1) Download official wallet, Install it and let it synchronize with network (synchronization is automatic)

2) Encrypt Wallet by going in Setting - Encrypt Wallet

3) Setting Paraphrase by clicking on Setting

4) Coping that Paraphrase in Notepad file.

5) Click on Much Receive and after that request payment, So that I can see wallet address to  send my Doges from website wallet to Desktop Wallet.. Copy that Address..

6) Send All Doges (depend's on requirement) from Website wallet to Desktop Wallet (Desktop Wallet Address copied in previous step)

7) After 2 hours (just for security) of receiving payment successfully.. backup wallet by clicking on File - Backup Wallet

8 ) Keeping the following files in Password protected .Zip file.. A strong password like $T5#1^&f(0Ad must be saved somewhere ultra secured place..

• Wallet Backup (Step 4)
• Notepad File (Step 7)

9) Keep that .Zip file (Password at another place - not with .zip file obviously). Such as Pendrive, Google Dive, Desktop, CD/DVD, etc..

I think storing that zip file at least on 5 different secured sources (Cloud, Pendrive etc) will keep it secure. and yes, Password  also must be preserved as it's the key for this huge process..

10) Delete Dogecoin wallet. As I have bought those coins for the purpose of long term investment. (By 10 times checking each and every above mention step followed perfectly)


Is that fine? to keep my dogecoin investment secured until 2020?

There are a few points to make:

Step 3 - The passphrase is set during Step 2, there's no way to see it after encrypting the wallet. So have the passphrase written down before encrypting the wallet with it.

Step 7 - You don't have to wait until receiving the coins to backup your wallet. You can, but it's not necessary. You can backup your wallet right after encrypting it, the first 100 addresses you generate are already in the wallet. Likewise, you don't have to wait until you've received the coins. But if it gives you peace of mind, by all means feel free to.

So, your options are to send all your coins to a paper wallet, and you can import the paper wallet's private key later at any time with any wallet program, or, follow the tutorial you wrote.
For security reasons, I don't recommend storing the wallet in 5 different online places, but it's your preference. The most important advice I can give here is that if you choose to use the wallet program, make a strong passphrase for Step 2. None of that "monkey23" or "doorhinge11" business.

Sorry for the late reply.

[Dudeperfect]

The outlook of dogecoin is completely irrelevant, this is about wallet security.

@Dudeperfect:

A paper wallet will work with the "official wallet" - it will work with unofficial wallets like MultiDoge too. If you wanted to spend the coins in your paper wallet, you would go to Help > Debug Window, click the Console tab, and put in

Code:

importprivkey ThePrivateKeyOnYourPaperWalletGoesHere

The private key starts with '6' or 'Q' for dogecoin.

So Paper wallet is useless, if site "dogechain.info" will not be there in 2020.. but If I am not wrong, I interpret your (all replies) messages as I can keep my doges secure if properly preserved.

So here is what I should do right now to keep my doges secure till 2020 (Writing in tutorial style, please confirm authenticity)


1) Download official wallet, Install it and let it synchronize with network (synchronization is automatic)

2) Encrypt Wallet by going in Setting - Encrypt Wallet

3) Setting Paraphrase by clicking on Setting

4) Coping that Paraphrase in Notepad file.

5) Click on Much Receive and after that request payment, So that I can see wallet address to  send my Doges from website wallet to Desktop Wallet.. Copy that Address..

6) Send All Doges (depend's on requirement) from Website wallet to Desktop Wallet (Desktop Wallet Address copied in previous step)

7) After 2 hours (just for security) of receiving payment successfully.. backup wallet by clicking on File - Backup Wallet

8 ) Keeping the following files in Password protected .Zip file.. A strong password like $T5#1^&f(0Ad must be saved somewhere ultra secured place..

• Wallet Backup (Step 4)
• Notepad File (Step 7)

9) Keep that .Zip file (Password at another place - not with .zip file obviously). Such as Pendrive, Google Dive, Desktop, CD/DVD, etc..

I think storing that zip file at least on 5 different secured sources (Cloud, Pendrive etc) will keep it secure. and yes, Password  also must be preserved as it's the key for this huge process..

10) Delete Dogecoin wallet. As I have bought those coins for the purpose of long term investment. (By 10 times checking each and every above mention step followed perfectly)


Is that fine? to keep my dogecoin investment secured until 2020?

There are a few points to make:

Step 3 - The passphrase is set during Step 2, there's no way to see it after encrypting the wallet. So have the passphrase written down before encrypting the wallet with it.

Step 7 - You don't have to wait until receiving the coins to backup your wallet. You can, but it's not necessary. You can backup your wallet right after encrypting it, the first 100 addresses you generate are already in the wallet. Likewise, you don't have to wait until you've received the coins. But if it gives you peace of mind, by all means feel free to.

So, your options are to send all your coins to a paper wallet, and you can import the paper wallet's private key later at any time with any wallet program, or, follow the tutorial you wrote.
For security reasons, I don't recommend storing the wallet in 5 different online places, but it's your preference. The most important advice I can give here is that if you choose to use the wallet program, make a strong passphrase for Step 2. None of that "monkey23" or "doorhinge11" business.

Sorry for the late reply.

Thanks again dude, much helpful.


So I can use paper wallet (which I downloaded from Dogechain.info) in 2016 & after.. without doing anything (just downloaded paper wallet is enough).. no matter my wallet provider "Dogechain.info" will be there or not.. I can spend amount through paper wallet.

or

I can import doges to any wallet with private key mentioned in paper wallet..

or

I can backup doges (wallet.dat) and restore that after in 2016 & after..


Am I right?

[Willisius]

Yes, that is exactly the case Dudeperfect. When you have the private key to any address, you can spend funds that it has at any time with any wallet. Good luck with your thing.

[DigitalPirateman]

Don't trust sites to hold your coins , as others suggested better to keep them on an offline wallet.

Thats right professional exchange sites even recommend that they are not a holder just a trading network.