The ultimate guide to Dogecoin Gambling
Dogecoin is a digital currency that promotes itself as the “fun and friendly internet currency”.
It was created in 2013 by software engineers Billy Markus and Jackson Palmer as a “joke” cryptocurrency and was a nod to the wild speculation that was taking place in the crypto space at the time.
They intentionally put no cap on the total supply, meaning that more and more Dogecoin enters the ecosystem every day, which is not something that other cryptocurrencies embrace.
Dogecoin is decentralized, which means no single institution or government owns or operates it – anyone can run a Dogecoin node from their home computer and help protect the network.
All Dogecoin gambling transactions are recorded on a public ledger called a blockchain and new coins enter the supply through miners who are rewarded in Dogecoin for adding the next block to the chain.
The engine in the Dogecoin car is the same as the one that drives the Bitcoin protocol, called proof-of-work.
This consensus mechanism involves miners operating specialist hardware that attempts to solve the mathematical puzzles which lead to new blocks being added to the Dogecoin blockchain.
Dogecoin is a pseudonymous cryptocurrency, with the entities at either end of a transaction represented by a string of numbers and letters called an address.
Dogecoin is accepted in many places online, and especially at crypto casinos.
Dogecoin can also easily be cashed out for fiat currency at a large number of online exchanges.
Benefits of Dogecoin gambling
A big part of Dogecoin’s attraction for gamblers is the small denomination of each coin, which allows players to place bets of less than $0.01 much easier than with other cryptocurrencies.
This is great for players trying out a new strategy as any losses can be made negligible while they experiment.
This is also a huge benefit over fiat casinos which don’t facilitate stakes less than $0.01 in value.
Dogecoin is also popular because of its pseudonymous nature.
When gambling with Dogecoin, all a player shares is an address that doesn’t in itself link to an actual person.
Most countries don’t consider Dogecoin to be a currency which means there are no laws against gambling with Dogecoin in territories where there are laws against gambling with fiat currencies.
This has opened the door to dozens of different Dogecoin casinos evolving, hugely increasing user choice and improving the Dogecoin gambling experience.
The benefit of Dogecoin being a completely decentralized cryptocurrency is that players have no legal eyes watching over them as they interact with their Dogecoin casino of choice.
Deposits into Dogecoin casinos are fast, with new transactions taking just one minute to hit the network – from that point it’s up to the chosen casino as to how many confirmations it desires.
Generally speaking, the higher the number of confirmations the more secure the transaction, but also the longer it takes to get there.
Dogecoin is a very trusted cryptocurrency, so confirmation numbers are very low across the board.
Some Dogecoin casinos have 0 confirmation times on deposits, which means that once the transaction hits the network a minute after execution, it credits the player instantly.
This is different to other less reliable cryptocurrencies, where the casinos prefer to wait for the coins to actually arrive before they credit the player.
Gambling with Dogecoin can also save you money.
Wins from Dogecoin gambling can be converted to cash without the involvement of a bank.
This eliminates transaction fees and, because of its decentralized nature, Dogecoin transfers will not attract any prying eyes.
Dogecoin casinos also nearly always have bigger welcome bonuses than fiat casinos, with huge Dogecoin rewards on offer to players as opposed to the stricter limits that are placed on fiat casinos.
This is another example of the greater freedom afforded to Dogecoin casinos and their users.
Drawbacks to Dogecoin Gambling
There aren’t really any drawbacks to Dogecoin gambling.
In many ways it fits the bill perfectly – transactions are fast and cheap; players can stake smaller amounts than with almost any other cryptocurrency; and the blockchain is decentralized, which ensures extra privacy over fiat casinos.
The only drawback to Dogecoin gambling would be for high rollers who would end up using hundreds of thousands and perhaps even millions of Dogecoin in their wagers, compared to, say, just a couple of bitcoin.
For most crypto gamblers however, Dogecoin offers a great combination of speed, security, privacy, and wager flexibility.
What are Dogecoin slots?
In many ways Dogecoin slots are like the regular slots, except that stakes and wins are made in Dogecoin.
The games, the odds, and the playability are all the same, with the only major differences being that Dogecoin games have higher limits than fiat games and players will be able to bet with stakes under $0.01.
An additional benefit is knowing that players can, at any time, transfer their Dogecoin back into their local currency and withdraw it.
What are Dogecoin table games?
As with Dogecoin slots, players will enjoy the same experience with Dogecoin table games as with regular casino table games.
All the favorites are there, such as baccarat, poker, and blackjack, and with the benefits of betting with Dogecoin, including pseudonymous play, microtransactions, and fast deposits, players will have an even more enjoyable experience.
The best Dogecoin casinos also have top quality live action table games, with human croupiers keeping the gameplay coming.
Where can I buy Dogecoin?
Buying Dogecoin is extremely easy.
There are a number of quality online exchanges that allow you to buy Dogecoin through your bank account, and once it’s in your Dogecoin wallet you can send your coins to your Dogecoin casino of choice.
However, there are one or two things you need to be careful of before you hand over cash for your Dogecoin.
We can’t advise which exchange you should use, but make sure you read reviews before you pick the one you’re going to use and do your due diligence.
Make sure, too, that your chosen exchange allows you to withdraw the Dogecoin you buy – some don’t, which is no good if you want it for Dogecoin gambling!
Be aware, too, that fees will be levied by the exchange when you buy, so make sure you know what they are before you press the ‘buy’ button.
These fees are often fixed rather than a percentage, so bear that in mind if you intend to buy more than once.
Some Dogecoin casinos allow you to buy Dogecoin directly from them, but the fees here are often higher, so you’re better off buying elsewhere and sending the Dogecoin over.
Best Dogecoin Gambling wallets
Once you’ve bought your Dogecoin, the next thing to do is find the best wallet to keep it in, even if it’s only for a short time.
Leaving your Dogecoin on an exchange represents something of a security risk, while some exchanges do not facilitate the sending of Dogecoin to online casinos.
There are lots of wallets out there that support Dogecoin but not all of them are reputable, so, again, make sure you do some research before you plump for one.
There are different types of wallet open to you, each with a different balance of convenience and security – generally speaking, higher security = less convenience.
This guide breaks down the different types of wallets and their benefits and drawbacks, but some good examples to check out are the official Dogecoin wallet, Exodus, Trezor, and Trustwallet.
The key thing to remember about Dogecoin is that you are responsible for looking after it – there is no customer service to contact if you send it to the wrong address or it gets stolen from your wallet.
For this reason you should take the storage of your Dogecoin, and the sending of it, very seriously.
Dogecoin Gabling Conclusion
As we have explored, Dogecoin is a great currency for gambling, and has been for many years.
It is fast and cheap to send, it is completely decentralized, and it can be used for microtransactions under $0.01.
The only people who might not find Dogecoin gambling useful are high rollers, but for everyone else it’s a great choice.
Many Dogecoin casinos have quality games and plenty of chances to win big, and with Dogecoin being accepted at most reputable crypto casinos, the options for Dogecoin gambling are barking great.