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The invention of cryptocurrencies has encouraged a revolution in the world of finance management. Standard banking and financial institutions were shaken from their foundations, as the first crypto coins were set out to undermine their monopoly and bring power back to the individual.
When one thinks of crypto…
… it is inevitable to associate the term with its first example – Bitcoin. This currency was invented sometime back in 2009, and released as an open-source code soon afterwards in order to allow anyone interested a preview of its underlying mechanics. The great potential of the cryptocurrency, as well as its technology known as the blockchain, triggered a range of additional advances in the same fashion.
… people got more and more interested about new and innovative ways of handling their funds. They started off with derivatives of the cryptocurrency, moving further away from the initial intention of Bitcoin's creation. These primary principles included the currency's decentralized character, anonymity of all members and transactions, as well as its instant response capabilities.
Most of the popular variants of this initial crypto invention have retained these features, and built upon them. Some use the blockchain technology as a platform to build smart contracts and complete applications, while others work on furthering their financial investment aspect. Among the top derivatives of the first cryptocurrency technology are Litecoin, Ethereum, Bitcoin Cash and Dogecoin.
About the Cryptocurrency
Dogecoin is a form of the cryptocurrency that was precisely 'born' on December 6, 2013. It came about as a simple project of two people having fun with the initial concept of Bitcoin. The creators of the currency are Billy Markus, a programmer from Oregon, and Jackson Palmer, a manager at Adobe.
These two people were closely and quitely monitoring the growth and development process of the first cryptocurrency Bitcoin. Just as it achieved some of its peak values, they grew interested in exploring if a derivative of the currency would be able to play the part of a fun and learner-friendly counterpart. Hence, the Dogecoin was created, not with the intention of having some kind of financial potential, but as a good starting point for anyone interested in delving into cryptos.
Soon after its initial creation…
… Dogecoin got its first pool of interested coin holders. This group of people started the official website, active to this day as a primary source of information regarding the cryptocurrency. A Reddit community was also formed, and all supporters were intently focused on keeping it friendly, open to advise and suggestions, cooperative and supportive amongst each other, especially new members wishing to learn more about crypto.
By 2015, Dogecoin reached 100 billion in circulation - a number that is contrast enough with the limited 21 million Bitcoin available for mining, as well as other ones. Even though one of the founders eventually gave up on the project, the currency managed to hold its ground and experienced a massive 400% rise in value by the end of 2017.
Getting Started with Dogecoin
Ultimately, it found suitable application across a range of platforms and online services. Anyone interested in using it based on their preferences only had to go through a few simple steps. Getting started with Dogecoin mostly resembles the process with other cryptocurrencies; just make sure you use the respective solutions for each one separately and achieve guaranteed success.
First off, anyone interested in using the cryptocurrency for their chosen purpose is supposed to get an e-wallet. That way, once they actually hold some coins in their possession, they will be able to store them appropriately.
You can choose between an online, desktop, hardware and paper e-wallet.
The online option…
… allows you to access the cryptocurrency from any device that has an Internet connection. All you need to do is go to the appropriate platform, sign in and manage you coins.
A desktop solution, on the other hand…
… requires you to download the software on your own device. Due to the rising popularity of mobile devices, most of these apps feature a mobile version as well. Currency holders won't need an Internet connection to get a preview of their coins in this case, and the same goes for those opting for a hardware e-wallet. This type is usually a separate hard disk storage device, a USB or similar gadget that allows owners to store their coins there and protect them with the wallet's key (known as cold storage).
Speaking of the key, there is one last option available - writing down the wallet's key on a piece of paper and storing it at safe locations such as bank deposit boxes or the likes.
Whatever your choice may be, once you find a suitable e-wallet, you need to get some coins. Storing them in your e-wallet is done by inputting the public address key of your wallet at the appropriate Dogecoin service - this alphanumerical combination serves as the coins' destination point.
In terms of a Dogecoin service, those interested can choose between obtaining Dogecoin from legitimate exchange platforms, using either fiat currencies or a different cryptocurrency. They can try mining it themselves, but considering the fact that it is particularly popular among newcomers, tipping might be a better option. And having built up a reliable and friendly community, there is no doubt that you can acquire some Dogecoin this way. Finally, you can even visit some website faucet services - these are platforms that allow interested individuals to input their e-wallet address and slowly collect some amount of coins using the system.
Using Dogecoin as an Online Casino Banking Method
Online gambling platforms powered by top notch software companies and leading security services feature diversity in all aspects. They are constantly working on increasing the range of slot titles, popular variants of he table games format, and additional attractive gameplay offers, all in order to achieve player satisfaction.
In this regard, the banking section plays an equally important part. Players are able to choose between transactions using their existing credit and debit cards, bank transfers, cash services, as well as a range of newer, more up-to-date options. The latter include e-wallets, online intermediating payment services, as well as the new generation of crypto coins – Bitcoin, Litecoin, Dogecoin and the likes.
Dogecoin casinos are getting more and more available across the global marketplace. After all, the cryptocurrency is user-friendly for new comers, but can also be a convenient choice for regular, experienced players. The process of depositing and withdrawing using Dogecoin can improve your overall impression, and leave you more satisfied than ever, as long as you follow the proper user procedure.
Step 1: Before actually getting started with Dogecoin gambling, make sure to meet all the preconditions. Interested players should get started as explained above, and obtain a suitable amount of cryptocoins in order to get their preferred bankroll. Store it at the chosen e-wallet and go on by finding a Dogecoin casino where you can invest it in your favorite titles.
Step 2: Make sure to register and access your own player account at the specific casino site. Head straight to the Banking/Cashier section and either select Dogecoin as a separate banking option, or choose cryptocurrency and select this one as your preferred tender.
Step 3: Banking at any online casino provides each player account with a separate e-wallet, either for fiat or cryptocurrencies respectively. Thus, you can fund it directly using the crypto funds you have stored in your chosen Dogecoin e-wallet solution. Just copy the address from the casino player wallet, and input it as a destination point. Don’t forget to point out the specific amount of coins you want to fund your player account with, and only then confirm the transaction. Considering that the cryptocurrency is built upon the model of their ‘primary ancestor’ – Bitcoin, all the key features have been identified and reflected in Dogecoin. In this specific context, instantaneousness and encryption secured transactions make up the bulk of it.
Withdrawing from online casinos can be done as soon as you have cashed in some winnings from your favorite games. Before submitting a request, it’s advisable to check if you’ve redeemed any bonuses or player promotions. Once you clear this up, just proceed with the transaction process much the same way as with deposits, only in the opposite direction.
Pros & Cons of the Cryptocurrency
- Easy to use – As mentioned earlier, this cryptocurrency is simple and newbie-friendly. This is mainly due to the fact it has a smaller community of users, so there are no issues like overcrowding the network or experiencing malicious glitches. In fact, it is an intuitive experience overall, starting from the official website, through the process of getting coins, to actual Dogecoin casino gameplay.
- Small value – Even with the exponential rises in value throughout the years, Dogecoin is still relatively low in value. This brings it even closer to the average crypto enthusiast, and allows them to try out some of their top casino game choices without risking huge amounts of money.
- Low fees and expenses – Just like Bitcoin mining, this currency has miners supporting the transactions as well. Due to the previous point on Dogecoin’s worth, the processing fee and accompanying expenses (such as electricity) are insignificant in comparison to more developed cryptocurrencies and blockchain operations.
- Convenient – On top of everything that has been said so far, this payment option is all the more convenient for its ability to be used across all kinds of online services. Platforms that offer services, sell products or even gambling sites that provide entertainment can successfully employ it as a payment option.
- Security & anonymity – Even though Dogecoin is a smaller scale cryptocurrency, it still has all the security features in place. The underlying blockchain technology allows decentralized and anonymous access for everyone interested, and additionally provides protection from any malicious attacks.
Even with all these advantages, there are some players which prefer a different banking method for their online casino exploits than Dogecoin. Some of the reasons for this include:
- Low value – Not everyone is pleased with Dogecoin’s low value – while it perfectly suits beginners and first-time casino players, per say, more advanced users find it to be inconvenient. The currency has a long way to go in terms of growth and expansion.
- Lack of stability – The notion of a digital currency is yet to be adopted by governments worldwide, and all the more when it comes to new ones such as this. It has come a long way, but there is much more to be done in the sphere of legality.
- Limited availability – As a result of these and some minor obstacles, Dogecoin is only available at a range of platforms nowadays. The numbers are on the rise, but most casino players and online communities in general are still feeling a lack of availability.
1. Can I claim a Welcome Bonus using this cryptocurrency as a casino payment method?
Yes, as long as the casino operator of your choice offers a No Deposit or First Deposit match Welcome offer, you are able to claim it regardless of your choice of currency. Some casinos may provide an additional benefit for players using a specific banking method, but this kind of limitation is normally reserved for specific promotions, not general player bonuses.
2. Are Dogecoin transactions reversible?
No, all crypto transactions are irreversible, which is why most guidelines call for special attention when inputting amount and e-wallet address.
3. Does the currency include some land-based terminals?
No, unlike Bitcoin’s well-developed network of access points, Dogecoin is primarily intended for recreational purposes. Land-based terminals and additional features are practically beyond its initial purpose and capacity.
4. The cryptocurrency was inspired by a photo of a dog, or in cyber slang – ‘doge’. What breed was it?
The breed of dog that sparked the interests of Internet users globally due to its cheeky grimaces and photogenic nature was Shiba Inu, of Japanese origin.
5. What are the most suitable alternatives for online casino players who cannot use Dogecoin as a banking method?
For online players at casinos which don’t support this currency, there is a range of other crypto available to choose from – Bitcoin, Litecoin and Ethereum are just some of the choices.