History of Dogecoin
Dogecoin is easily one of the best-known cryptocurrencies currently in circulation. The coin was created by Billy Markus and Jackson Palmer, two software engineers that intended it to be taken as a joke. Since cryptocurrencies were much more controversial when Dogecoin launched in 2013, the creators used the popular “doge” meme, an image featuring the face of a Shiba Inu dog, to poke fun at the crypto scene. While it might have started as a joke, Dogecoin is anything but these days. The coin has amassed a huge online following over time and is a legitimate payment option.
The satirical nature of Dogecoin made it such a hit to start. Considered the first meme coin, it first started making rounds on the social media site Reddit. Reddit users found the coins hilarious, and whether it was a serious purchase or a joke, drove up its market value exponentially! Nowadays, Dogecoin is a serious investment and a more than a viable payment method. It’s used to purchase a variety of goods and services, including online gambling ones! The popular coin is based on the Scrypt algorithm and is a convenient option that beats many competitors.
Can I Make Dogecoin Payments in Online Casinos?
Knowing the origins of Dogecoin, it’s safe to say that it wasn’t made with online gambling in mind. Despite this, the coin has been a smashing success in the online casino scene, with tons of websites adding it as a viable payment option! While there might have been some hesitation in the early days of the currency, things are much different now. It shouldn’t take players too long to find an online casino that supports Dogecoin payments, although it might not be available in some of the more popular gambling venues out there.
Using Dogecoin as an online casino payment method is much easier and more rewarding than you might think. To start, you need to purchase the currency. You can do this by visiting crypto exchanges and getting some through trading fiat currencies. Since Dogecoin is a popular payment option, you can find it on well-established exchanges like Coinbase. Once you get your hands on it, you can move on to the casino part. Visit the cashier page and follow the deposit or withdrawal instructions there. If an issue arises at any point of the process, contact the operator’s Customer Support to give you a helping hand.
Gambling Restrictions for Dogecoin
By itself, Dogecoin doesn’t draw out any specific gambling restrictions. Of course, there are tons of restrictions that come from it being a cryptocurrency! Crypto might not be as much of a mystery as it once was, but plenty of countries worldwide still regard it as such. Because of this, they have trouble implementing restrictions that are consistent across the board. Since crypto, and especially crypto gambling, is still a polarizing subject, it’s best to look at the laws and regulations surrounding it on a country-to-country basis.
In some countries, like the UK, gambling with cryptocurrencies comes with specific rules. While they might not be too much trouble for players, they can be a hassle for gambling operators! An example of this is disclosing fund sources to apply for a license. The requirements exist solely for crypto-friendly casinos, and operators that fail to meet them will be denied licensing.
In larger countries like the USA, things can get complicated fast. While online crypto gambling isn’t prohibited, the subtle differences in regulations between states can get some players into hot water. Pretty much every state has separate crypto gambling laws. The activity itself might not be banned in most of them, but specific acts like the Unlawful Internet Gambling Enforcement Act may apply in certain situations.
It’s worth noting that some countries have an opposite approach in handling cryptocurrencies and crypto gambling. El Salvador is one of the best examples of a country embracing the crypto world. In August of 2021, it made Bitcoin legal tender! On the opposite end of the spectrum, we have countries like South Korea. Cryptocurrencies are prohibited in the region. Surprisingly, this doesn’t stop people from showing interest in crypto! Many get around the law and purchase them from various crypto exchanges.
The Pros and Cons of Using Cryptocurrencies in Online Casinos
Most people are familiar with how cryptocurrencies generally operate. They’ve been around for a while now, so you might have an inkling of what they have to bring to the table! Cryptocurrencies are one of the most convenient payment options out there at the moment, and they offer tons of perks. Of course, they also have just as many cons! Up next, we’ll explore what these are in more detail and how they can affect your online gambling experience.
It’s easiest to start with one of the biggest pros of crypto transactions – anonymity! To transact using crypto, all you need is a crypto wallet. These services have unique numbers used to identify users, but that’s where things stop. You don’t need to share any personal info to create your wallet. Other than a username or password, any other details are unnecessary. For many online casino fans, this is a big deal. Online gambling scams are a real possibility even today, and the threat of hackers that could abuse private information is just as valid.
Since we’re on the topic of scams and shady businesses, it’s only natural to bring up another excellent pro of using crypto – transparency. All crypto transactions are registered on the blockchain ledger. Because it’s public, you can view every transaction ever made with your currency! Having all of this easy-to-access information at your side can be of great help when trying to avoid businesses that seem less than legitimate.
Using cryptocurrency comes with a few other pros users can benefit from. Of them, convenience and speed are at the top of the list! Cryptocurrencies like Dogecoin are easy to access from multiple devices. With a stable internet connection, you can utilize all aspects of internet banking and conveniently transact pretty much anywhere! When processing speed is in question, crypto usually leads compared to other payment services. Nearly all transactions are instant, giving players a chance to access their winnings within seconds!
Now that the traditional perks of crypto are out of the way, we should mention that using Dogecoin on particular websites can offer exclusive perks. Most of the time, these perks include themed promotions inspired by the coin’s meme status! These bonuses can vary, but they usually come in the form of Cashback and Free Spins.
While the pros of using Dogecoin and other cryptocurrencies are incredible, it's not all about positives. Using crypto for online transactions comes with a few downsides too. One downside every crypto user should be aware of is the complexity of the crypto world. It might seem easy to start using crypto, but the subtleties of how it operates can make or break how you view your experience with it. To better understand what you’re getting into, it’s best to dedicate time to learning about crypto before starting your venture.
We’ve already mentioned a bit about this next con when talking about the anonymity and transparency of crypto. The crypto scene, especially the crypto gambling scene, is full of scams and shady business practices that can be harmful to players. Most of us like to think we can spot these scams from a mile away, but they’re often intricate enough to fool newbies! Learning as much as you can about crypto is the best approach to avoiding these.
We’d be doing readers a disservice if we didn’t mention one of the most crucial aspects of crypto, volatility. Crypto’s volatile nature can be a pro and a con. Since the price of most cryptocurrencies varies drastically in short periods, it can mean huge gains and crippling losses in value. How this affects you depends on your approach to the currency and luck.
Can I Access All Casino Games with Crypto?
Cryptocurrencies have come far in their time on the market, but many industries are still wary of them. Unfortunately, the gambling industry is no exception. A large number of iGaming developers don’t offer support for crypto. Because of this, crypto players can’t access a ton of fun titles they might have had their eye on. While this is a huge downside to using crypto for online gambling, we have some good news. Some of the best casino software is crypto-friendly! From leading providers to indie game studios, countless companies have integrated crypto payments.
You’re probably wondering which operators and games support cryptocurrencies, and we’re more than happy to list a few. BGaming, Mr Slotty, iSoftBet, Habanero, Endorphina, Spinomenal, Vivo Gaming, Betsoft, and many others are all Bitcoin-friendly. You can access nearly their entire product offer through crypto and have as much fun as you like! When games are in question, the options are limitless. A few of our favorites are Fire Bird, Diamond Vapor, Riot, The Myth, and Crypto Matrix.
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