Dogecoin is a cryptocurrency based on a branch of the Litecoin codebase. The creator of DOGE wanted to make fun of other cryptocurrencies, such as Bitcoin. Still, it turned out to be a viable payment instrument and an investment. Dogecoin came to the market at the end of 2014, the same year when the Doge meme surged in popularity. The cryptocurrency inherited the original image depicting a dog of the Shiba Inu breed for its logo.
Dogecoin uses blockchain technology to facilitate peer-to-peer transfers between users without any intermediary or central authority. Dogecoin shares all the benefits of other cryptocurrencies, including decentralization and permissionless access.
Why you should consider Dogecoin when playing at a casino
Fast and cheap transactions
Dogecoin is a branch of Litecoin, which itself is a lighter version of Bitcoin. Dogecoin is ideally suited for payments, such as casino deposits. It has a block time of 1 minute compared to 2.5 minutes of Litecoin or the 10 minutes of Bitcoin. People don’t transact with Dogecoin as much as with some other cryptocurrencies, so the fees are usually low. Fast and low-cost transactions helped Dogecoin to make its way to the online gambling universe.
Dogecoin shouldn’t be viewed as an anonymous cryptocurrency because it isn’t. Instead, Dogecoin is a pseudonymous cryptocurrency. What it means is that funds are not tied to real-world entities but rather Dogecoin addresses. Owners of such addresses are not publicly identified, but all transactions are visible on the blockchain. In short, Dogecoin enables an easy way to increase your financial privacy since your bank won’t be able to track your transactions after you convert fiat money to crypto.
Low market value
Dogecoin has a relatively low market value, making it easier to deal with. It may be challenging to calculate your balance when playing with Bitcoin, but the math is fairly simple with Dogecoin. However, beware of the volatility as Dogecoin tends to fluctuate a lot. In other words, the value of your assets may change significantly by the moment they reach the casino account. It’s equally valid for all assets, which you may decide to keep in Dogecoin after winning at a casino. The value of Dogecoin can change upwards or downwards. If you are not into trading, it may be smarter not to keep money in this cryptocurrency for a long time.
How to play with Dogecoin at LTC Casino?
Dogecoin has been around since 2014, so it should be somewhat easy for you to buy it from an exchange. If you don’t know how, here is how to buy crypto guide to help you.
To make a deposit using Dogecoin, navigate to the «Deposit» tab and choose «Dogecoin» from the available cryptocurrencies list. The casino will create an electronic address for you. Use it to deposit DOGE from your wallet or an exchange service provider to the casino.
How to store Dogecoin?
As mentioned above, it’s better not to keep Dogecoin for a long time unless you want to make a bet on the rise of its value. If so, pick Atomic Wallet or Exodus Wallet, which are the best to store Dogecoin on your laptop or desktop. There is also an official Dogecoin wallet that you can download from the cryptocurrency website. This wallet, though, is not as sleek as the other options above. You can also keep your DOGE on an exchange service provider to sell them quickly if you don’t like the price action.
Playing with Dogecoin at LTC Casino: Pros and Cons
- Fast and low-cost transactions. Dogecoin is a solid option to transfer money with crypto to a casino;
- High availability. Most crypto exchanges support Dogecoin, so you won’t have any trouble buying or selling it;
- Low value. Some players prefer to have considerable amounts of coins with a lower value rather than a fraction of Bitcoin.
- Volatility. Dogecoin is an extraordinarily volatile crypto asset, so keep the risks in mind.