Dogecoin Casinos

About Dogecoin

The term ‘altcoin’ is used for all the cryptocurrencies that were introduced after Bitcoin. Most altcoins that are being used as digital currencies today use the same technology as Bitcoin. Despite this, they all differ with regards to their individual features and the speed of processing transactions.

You can get this altcoin through mining or by purchasing it through one of the popular cryptocurrency exchanges. For using Dogecoin, you’ll need to select and configure your wallet. The official website of this cryptocurrency offers the Dogecoin Core and MultiDoge wallets. The former is a full wallet, while the latter is a light wallet that can’t be used for mining or large transactions.

Billy Markus and Jackson Palmer wanted to make fun of the concept of cryptocurrencies that was slowly gaining popularity. They also wanted to create a peer-to-peer digital currency that would have a broader reach than Bitcoin. As a result, Dogecoin was introduced on December 6, 2013. The official website of this cryptocurrency got more than a million visitors within the first 30 days of its launch.

At the time of creating Dogecoin, Markus and Palmer were working as software engineers. Markus was employed in IBM while Palmer worked with Adobe. Within just two weeks of its launch, this cryptocurrency jumped almost 300 percent in value. It dropped by 80 percent in the days that followed, but rose by 800 percent in January 2021.

A non-profit organization called the ‘Dogecoin Foundation’ was created to support the project of this cryptocurrency. After being inactive for nearly six years, it was relaunched in August 2021. This foundation supports and promotes the Dogecoin blockchain and the entire Dogecoin ecosystem.

Pros and Cons of using Dogecoin in online casinos

Although online casinos became popular the 1990s, many of them started accepting cryptocurrencies only from 2012. At the time, most online casinos were focused largely on Bitcoin and to some extent on Bitcoin Cash. Today, you’ll come across quite a few casino websites that have Dogecoin and other altcoins among their payment methods.

You’ll find most of the popular casino games on these sites, such as slots, roulette, and blackjack. Additionally, new casinos accepting Dogecoins have been entering the market in recent times. They come with much more advanced interfaces and games.

As there are many choices available, you need to be cautious while choosing an online casino. You must always go for the one that’s legitimate and has a license from a leading iGaming authority. Here are some of the pros and cons of Dogecoin that you can consider before using it in online casinos:

Pros:

• You don’t need to provide any sensitive financial data for the transactions
• You’ll have the benefit of low transaction fees
• Dogecoin transactions are quicker than most of the other crypto transactions
• Some online casinos have special bonuses for Dogecoin users

Cons:

• Not many online casinos accept Dogecoin as a payment method
• As cryptocurrencies are volatile, their values keep changing
• Some casinos may charge fees on Dogecoin transactions

How does Dogecoin compare to other payment methods?

One important feature of Dogecoin is that it takes only a minute to confirm a transaction. This certainly makes it a lot better than Bitcoin, which takes 10 minutes. The only concern about Dogecoin is that its value fluctuates heavily, which is quite common with all cryptocurrencies. A significant decrease in value can negatively impact your winnings.

The transactions of Dogecoin are usually processed in one minute. This is much more faster than the speed of transactions done using credit or debit cards and bank transfers. Besides, the transactions you make using this cryptocurrency don’t require you to provide any of your sensitive financial details. This ensures information security while making deposits and withdrawals in online casinos.

Some popular e-wallets used in online casinos also ensure safety and security of your personal details during transactions. They might not be as fast as Dogecoin with regards to processing of transactions, but most of them are widely accepted in online casinos. This certainly puts some of the e-wallets at an advantage.

DOGE Fees

Generally, most casino websites won’t charge any fees for using Dogecoin to make a deposit or withdrawal. Instead, you only need to pay the network processing fee for making a transaction on the Dogecoin network. This fee is used to pay the miners who ensure security of the network and process the transactions.

There has been a fall in the value of Dogecoin in recent times, which has also reduced its network fees. The transaction fees for transferring Dogecoins on the network averaged $0.4 according to the latest statistics. It was reported in June that a 200-million transfer of Dogecoin charge a fee of only 10.05 DOGE.

Before opting for Dogecoin as your payment method, you’ll need to go through your online casino’s terms and conditions. It will most likely charge little or no fees on the Dogecoin transactions. You can also search for online Dogecoin casinos that don’t charge any fees for using this cryptocurrency.

How to use Dogecoin for deposits in online casinos

There are certain things you need to do before signing up on a casino website and making a deposit using Dogecoin. The first step would be to find a suitable online casino that accepts this cryptocurrency as a payment method. Next, you must go through the terms and conditions of the website for information on deposit and withdrawal fees.

Don’t forget to check if the online casino has been licensed by a competent online gaming regulatory authority. Once you’re sure that the casino is legit, sign up on the website. When you’re logged in, head to the cashier, banking, or payments section and choose Dogecoin as your preferred payment method.

You’ll then find your personal QR Code and wallet address. Go to your crypto wallet after copying the address, choose ‘send’ and paste the text you’ve copied. Specify the amount you want to transfer and confirm the transaction. Usually, it takes about 60 seconds for the amount to appear in your online casino account.

How to use DOGE for withdrawals in online casinos

Making a withdrawal using Dogecoin from an online casino is quite simple and straightforward. You’ll find this process almost similar to that of a regular e-wallet. When you’re logged in on your casino website, navigate to the cashier, banking, or payments section. Select ‘Dogecoin’ as your preferred method for withdrawal.

Next, you’ll need to enter the address of your Dogecoin wallet in the ‘send’ field. In a few online casinos, this address is saved when you make your first deposit. Enter the amount you want to withdraw and provide your confirmation. Your funds will be available shortly after you confirm the transaction.

You might need to approve your withdrawal manually in some online casinos that accept Dogecoin. In this case, it might take a couple of days to receive the winnings in your wallet.

How secure is Dogecoin?

Many players are quite wary of using Dogecoin or any other cryptocurrency in online casinos. This is mainly because the banks and governments don’t regulate cryptocurrencies. In fact, this works in favor of cryptos as regulated fiat currencies often face issues related to online security.

Dogecoin transactions take place inside its highly secure blockchain network, which is not accessible to banks or governmental organizations. Real-time consensus and peer-to-peer networks are two of the powerful features of Dogecoin, which result in faster transactions.

What makes it extremely difficult for hackers and ransomware attackers to infiltrate Dogecoin’s blockchain network is its complexities. The secure transaction mechanism and complex programming and processes make infiltration into this network next to impossible.