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MultiDoge Wallet Review 2020: Fees, Pros, Cons and Features

Created in 2014, MultiDoge wallet is a desktop client for Dogecoin, which is ported from the Bitcoin client MultiBit.
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Author: Nica San Juan
Last Updated: 09 July 2020
MultiDoge is not the best wallet, even though it has some good features. Keep on reading to find out what wallet actually is the best.

MultiDoge wallet is an easy-to-use Dogecoin wallet with an intuitive user interface and a host of other friendly features. The design makes it suitable for small scale merchants who wish to use Dogecoin as a payment means.

However, it is not the safest wallet for your crypto transactions and payments. Thus, we would not recommend it.

Check out the review below to get more details about it and how you can find a safer crypto wallet.

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    • 15+ coins supported
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    75% of retail investor accounts lose money when trading CFDs with this provider. Crypto assets are highly volatile unregulated investment products. No EU investor protection.

    Is the MultiDoge Wallet Recommended?

    ❌ MultiDoge wallet has lots of merits and strong points in its favor. But we would not recommend it as the best or safest option. In spite of having taken significant steps to secure user funds, the wallet is not regulated. This increases the risk potential associated with the wallet. That is why we recommend the eToro wallet instead. It is safe, user-friendly and supports a good selection of cryptocurrencies.

    If you still have doubts as to what the best service for storing your cryptos is, you can compare the best Bitcoin wallets here.

    What is MultiDoge Wallet?

    What is MultiDoge wallet? MultiDoge wallet is a desktop client for Dogecoin, ported from the Bitcoin client, MultiBit. Its app is based on Dogecoin, which in turn was ported from BitcoinJ. This essentially means that the developers behind the project transferred the code from the said sources and made it compatible with Doge.

    It is an open source project maintained by developers Max K (Langerhans) from Germany and Evan Kaloudis from New York, both part of the Dogecoin development team. The wallet’s user interface was designed by Matt Graham, from the US and it was launched in 2014.

    MultiDoge Wallet Compatibility

    MultiDoge wallet is compatible with desktop operating systems including:

    • Windows
    • Linux
    • Mac OS

    What wallet type is MultiDoge?

    • Sofware
    • Desktop client
    • Open source

    What cryptocurrencies does the MultiDoge wallet support?

    • Dogecoin (DOGE)

    What fees does MultiDoge wallet have?

    There are no MultiDoge wallet fees for transacting on the platform. But users have to pay network (miner’s) fees, which facilitate transaction confirmation.

    How to open your MultiDoge Wallet account

    It’s very easy to open your MultiDoge wallet.

    Step 1: Go to the official site multidoge.org and initiate the download

    On the top right side of the screen, click on the icon that corresponds to your operating system. That will initiate the download. Lastly, choose one between the light wallet and full wallet and an installation wizard will appear. For illustration purposes, choose the light client.

     

    For illustration purposes, let’s choose the light client.

    Step 2: Find multidoge.exe in the installation folder and run it.

    Unlike most other wallets, MultiDoge does not create a desktop shortcut at first

    Step 3: Once installation is complete, open the wallet and click File>Add Password

    Step 4: Create a password for your account and confirm it, then click “Add Password to Wallet”

    After this step, you will see a notification that the private keys have been backed up using the password. Go to the directory location where it is, copy and paste your private key MultiDoge wallet to save it somewhere safer.

    That is how to open a wallet on MultiDoge.

    How do I add cryptocurrencies to MultiDoge Wallet?

    If you are wondering how to add currency to MultiDoge wallet, here is how to do it:

    Step 1: Find your MultiDoge wallet address by clicking the “Request” button on the top left side

    Step 2: Copy your address by clicking on the Copy/Paste icon on the right side

    Step 3: Paste it on an exchange or in another wallet where you have DOGE and transfer the desired amount to your MultiDoge wallet.

    That is how to transfer Dogecoins to your MultiDoge wallet. We will not go into how to transfer Bitcoin into MultiDoge wallet, how to transfer Ripple into MultiDoge wallet or how to transfer Ethereum into MultiDoge wallet as it is a DOGE only wallet.

    How to send payments on MultiDoge wallet?

    Next, let us find out how to send payments on MultiDoge wallet:

    Step 1: Launch your MultiDoge wallet and click “Trade”

    Step 2: Select “Send Dogecoin”

    Step 3: Type in your recipient’s address, a label to describe the transaction and the amount you want to send

    When you are done, click “Send”

    How do I receive payments on MultiDoge wallet?

    Here is how to receive payments on MultiDoge:

    Step 1: Click on the “Request” tab

    Step 2: You will see your address clearly labelled. Click on the Copy/Paste (paper) icon to copy the address

    Step 3: Share the address with your counterparty and wait to receive funds in your account.

    How safe is MultiDoge Wallet?

    Related image

    One of the most important considerations when choosing a crypto wallet is safety. Let us analyze MultiDoge safety features to determine whether it is the safest option for your DOGE coins.

    Open Source Code

    MultiDoge wallet is a project designed by multiple developers and open to contributions from the community. It features an open source design making it possible for anyone to view its code and carry out an audit.

    Such transparent projects often have the advantage of getting bugs discovered in good time and fixed. The design also implies that the team behind it has no ulterior motives and is open to code review.

    Lack of Security Features

    Notably, MultiDoge wallet is lacking in a majority of security features that the cryptocurrency community considers almost mandatory. In spite of being a hot wallet, and therefore vulnerable to online attacks, it lacks two-factor authentication. It is also not a hierarchical deterministic or multi-signature wallet. Having open source code in itself is not sufficient protection for user funds.

    Overall, it emerges that MultiDoge is not a secure wallet. In addition to all of the above omissions, it is also not regulated by any authorities.

    MultiDoge Wallet Pros and Cons

    Let us have a look at MultiDoge pros and cons:

    Pros:

    • Users can choose between light client and full node wallet depending on their needs
    • Simple installation process
    • Available for multiple PC operating systems
    • Open source code
    • Official site explains in detail how to set up wallet

    Cons:

    • Hot storage therefore more vulnerable to online attacks
    • Users do not control private keys
    • Limited security features
    • Only supports DOGE
    • Not regulated
    • Unsuitable for large Dogecoin transactions
    • Desktop app is not easily accessible on the go

    MultiDoge Wallet vs. other wallets – how does it compare?

    eToro Commits To Better Future Growth with Delta AcquisitionMultiDoge wallet vs. eToro

    • Ease of Use

    Compared to MultiDoge, eToro is very easy to use. Its sign up process is very simple and only takes a few minutes and the same goes for the interface. It is very intuitive and certainly suitable for all kinds of users. In terms of user friendliness, we consider it to be better than MultiDoge.

    • Regulation

    Another difference between MultiDoge and eToro is that the first one is unregulated whilst the second one is regulated. eToro is regulated by several agencies actually, including CySec, which is one of the most reliable regulatory agencies in the industry. In general, regulated platforms are more trustworthy than unregulated platforms because there are agencies monitoring how they operate. If you want ot learn more about this platform check out our eToro review.

    MultiDoge wallet vs. DogeChain

    • Funds Storage

    MultiDoge and DogeChain are both storage solutions for Dogecoin. However, their most significant difference has to do with the way they store user funds. While the former is a desktop wallet, the latter is a web client. DogeChain is thus more vulnerable to malicious online attacks. MultiDoge on the other hand retains custody of its users’ private keys and is therefore not completely safe either.

    • Versatility

    Both wallets only support a single cryptocurrency and both only offer storage services. But by virtue of being an online wallet, DogeChain is more accessible than MultiDoge. But overall, both wallets are quite basic and do not have any extra features apart from the obvious.

    MultiDoge wallet vs. ArcBit

    • Accessibility 

    Both of these are software wallets, but while MultiDoge is a desktop wallet, ArcBit is accessible on both mobile and desktop platforms. The latter is therefore more accessible and convenient for users who want to transact on the go.

    • Safety Features

    As already mentioned, MultiDoge lacks even the most basic security features. ArcBit on the other hand has a number of safety measures in place. These include a hierarchical deterministic algorithm and optional cold storage among other features. It is therefore significantly more secure than the former.

    Top-rated crypto platform for 2020

    OUR RATING

    eToro Commits To Better Future Growth with Delta Acquisition
    • 15+ coins supported
    • CySEC and FCA regulated
    • Buy, sell and trade crypto in 1 platform
    • Over 6 million users worldwide
    eToro Commits To Better Future Growth with Delta Acquisition
    75% of retail investor accounts lose money when trading CFDs with this provider. Crypto assets are highly volatile unregulated investment products. No EU investor protection.

    FAQs

    Where can I download MultiDoge Wallet?

    You can download MultiDoge wallet from multidoge.org. Select the suitable version for your operating system.

    My MultiDoge wallet froze; what should I do?

    There could be a number of reasons causing a MultiDoge wallet to freeze. But one of the most common problems is a problem with the software. The best solution is to delete the app and reinstall it afresh since the latest updates could solve the problem in question.

    How can I reset my MultiDoge password?

    Launch the wallet and under file, select change password. Set your new password and confirm it. Remember to keep a copy of it somewhere in case you forget.

    What to do when I open the MultiDoge app and my wallets are not there?

    On your computer, find the location where MultiDoge stores your default wallet. Check under that directory and open the wallets there by clicking File>Open Wallet.

    Why does my wallet say “The wallet is busy?

    Particularly on large wallets, some tasks could take long, for example, when changing your password, exporting or importing keys. But if you are working on the wallet, these will carry on in the background. If you however hover over a button that is disabled as a result of the background activity, you will get the above message.

    Why have my DOGE coins not arrived in the wallet?

    One of the reasons could be that the transaction never took place. Look for the transaction ID to confirm if it did. If it has an ID and appears on the Dogecoin blockchain, you might need to reset transactions. Click Wallets>Tools>Reset Blockchain and Transactions and allow the wallet to sync.

    How do I my import private keys?

    Go to the Wallets side panel, select the wallet you want to import, click Tools and then select Import Private Keys.

    What is a MultiDoge wallet backup?

    This refers to a copy of your wallet or wallet private keys which you can use to recover the wallet in case you lose access to your original wallet.

    Remember, all trading carries risk. Past performance is no guarantee of future results.
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    Janica Sherine is an expert writer who specializes in financial technology and cryptocurrency. At her young age, she was already able to work with founders who graduated from Harvard, tech startups funded by Y-Combinator, CEOs of multi-million dollar blockchain companies, investment companies in London and many more.

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