Dogecoin vs Bitcoin
As stated at the official Dogecoin website, it is an open source peer-to-peer digital currency. Hitting the internet as a joke back in 2013, by 2016 it eventually grew into a legal payment method with followers around the world. Abbreviated as DOG, it is known to many due to a doge meme – a combo of the broken English and the Shiba Inu.
When talking about Dogecoin vs Bitcoin, it is worth mentioning that it actually started out as an actual confrontation because back at the times when DOG entered the arena, the Bitcoin reputation was quite questionable due to some inner conflicts. Another intention of the new crypto-currency was to reach out to more customers and eventually replace Bitcoin as money that can actually be used online, not stored.
Apparently, there was the need for some alternatives on the digital currency market, because in 2016, DOG even entered the top 20 range in total market cap. The amount of capitalization reached USD 22 million.
Doge has the same features as Bitcoin or other currencies, such as Litecoin or Ethereum. It is also a decentralized system over which no governmental institutions have power, and it provides anonymous transactions. Just as BTC, LTC, or ETH, it can be used from desktops, portable devices, or online locations to pay for products or services, or exchanged.
While up until recently it was mostly used to tip content creators on the Internet, in 2016 it also became a powerful participant of the online gambling industry. This happened due to one quite significant difference from Bitcoins. Time to process a financial transaction and produce a block within this network requires only 60 seconds. This is less than time needed within any other competing blockchain.
Miners within Doge earn bigger rewards, so the speed of mining is rapid with predicted growth by 5.2 billion Dogecoins yearly. Another aspect that makes the mining so rapid is no need for specialized equipment due to the script technology that differs from the one at BTC.
With these facts taken into consideration, DOG becomes quite a promising currency option for the nearest future, even though today it loses in terms of diversity of casino options.
Dogecoin Wallet & Depositing
It is easy to become a DOG user. The official website provides software that can be downloaded onto portable devices or stationary computers. A Dogecoin wallet is free and compatible with all systems – OS X, Linux, Android, Windows.
How to buy DOG? It is sold at online exchanges and trading markets, just as any other digital currency. It can be purchased for traditional cash, as well as for other crypto-money. Everyone can also become a contributor by signing up for mining and getting paid 500,000 DOG.
Depositing and withdrawing at gambling sites is a quick and easy process, free from charges and fees. The transaction will require the number of the e-wallet. Funds are added to the account immediately, and the cash-out speed is also quick. Accessing the wallet is possible from many corners of the world.
Safety of Dogecoin Gambling
Dogecoin gambling is as safe as betting and wagering in any other digital currency. The system itself is legal and stable. Codes and encryptions protect personal information. Payments are not reversible. They cannot be affected by political instabilities, governmental authorities, or third-parties.
As any other digital currency, this one is quite volatile, and this is one of the downsides of gambling on games, dice and slots with Dogecoin. Another important question is the reputation of the chosen operator. Is it a safe and licensed website? Or is it a rogue gaming destination? We advise players to research any place to bet and win prior to registering.
Best Dogecoin Casinos for Free & Real Money Play
Our database currently features a few brands that accept DOG. This is due to the tendency in the industry – the currency is just entering the market. However, all of those locations that we have were revised and evaluated, and are known for providing safe services.
Among such is mBIT – a platform with content from Play’n GO, Amatic, Booming Games and up to ten other manufacturers. It features all popular digital currencies, from the newest Bitcoin Cash to the reviewed one and more. The license was issued in Curacao, and the label belongs to the network of Direx N.V.
This company’s other well-known title is BitStarz, which has the same license as mBit, and was founded in 2014. 24/7 live chat, high ratings from leading gambling portals, cashable bonuses and good reviews from the registered members are among its distinctive features.
FortuneJack is another alternative with software from Microgaming, Pragmatic Play and Evolution Gaming among others. It offers highly popular Dogecoin dice games in addition to the regular games.
FREQUENTLY ASKED QUESTIONS
Yes, you can. While there are not many reputable labels offering betting in Dogecoin, mBit is among a few that do. With their diversity of major and niche events, in-play and pre-match bets, all demands should be covered.
Currently the situation is not as optimistic because the demand is still small enough to open specialized poker rooms in Dogecoin. We believe that with steady growth of the currency there soon will be a choice for poker players.
No. The system works on an anonymous basis and all you need to know is the number of your e-wallet. Make sure you state the right one as the transactions are irreversible and you will most likely not see your cash if you send it to the wrong wallet.