The Best Dogecoin Casino Sites in 2023

For starters, all coins more or less stem from the same technology, known as “Blockchain”. Blockchain can easily be described as a form of a digital receipt that tracks every transaction made on the blockchain, as well as who owns what currency and how much of it. In order for a transaction to be completed the information from one party has to be matched by the other, thus completing the transfer.

How many coins are available for mining is decided by the coins creator. A couple of examples of different coins with their respective caps:

● Bitcoin 19 million coins are currently in circulation with 21 million coins being the hard cap. Meaning when 21 million coins have been mined, Bitcoin mining will stop completely and trading will be the only option to accumulate it.

● Ethereum 120 million coins are currently in circulation, increasing by 20 million each year.

● Dogecoin 132 billion coins are currently in circulation, increasing by 5 billion each year.

As previously mentioned one of the edges of dealing with Dogecoin is mainly its speedier transactions compared to other coins. One minute compared to 10 minutes when comparing Dogecoin to its bigger siblings, Ethereum and Bitcoin. The coin cap of coins like Bitcoin may make it a more attractive option for longer-term investors as it's bound to be more stable and not as influenced by market inflation. In the end, the value of each coin is determined by the population that uses it and is going to see swings depending on what this population ultimately thinks the value is.

Pros:

Decentralized currency Dogecoin like any other cryptocurrency is a decentralized digital currency meaning there is no need to use any third-party sources, like banks, when making transactions using the coin.

Fast transactions The blockchain technology behind Dogecoin is based on a scrypt algorithm and has an edge over some of the other coins when it comes to the speed of transactions. This technology allows for transactions using Dogecoin to be done within a minute, while other cryptocurrency transactions often take about 10 minutes to complete.

Dogecoin price and market presence Dogecoin being a cheap coin may be enticing to some investors as you can purchase many coins for a small price. Dealing with larger cryptocurrencies, they often have a price tag in the thousands of dollars for one coin, making it a hassle to calculate the sizes of transactions. Dogecoin sells for about a dollar at this time and thus allows for more people to own a larger quantity of the coin. Its smaller price, big following, the number of investors, as well as still being kind of a meme, has made it one of the more talked about cryptocurrencies on social media and thus ensuring it is available almost everywhere on the crypto market.

Day trading opportunities Since Dogecoin is prone to major swings if we follow its history on the market, there are opportunities to day trade the coin in an attempt to make a quick buck. Its low transaction fees combined with the speedy transactions and swingy nature make it a decent option for people looking to day trade with it.

Cons:

Major market swings Dogecoin has since its beginning seen more than its fair share of swings on the market. In a similar way that this could be used as an advantage to someone trying to make a fast buck, it could also be a reason for longer-term investors to choose another coin that’s generally more stable.

More susceptible to hacks The technology behind Dogecoin is based on “blockchain”, like every other coin. If we compare it to other bigger coins, like Bitcoin, there’re differences. Dogecoin has slightly more than 1000 nodes in its network that information has to pass through while Bitcoin has more than 10 000 nodes as well as these being spread across almost 100 nations. This makes Bitcoin a lot harder for hackers to gain access to. Dogecoin is still considered a safe option by experts but this is something that may become relevant when computer power evolves in the future. However, in a similar way like Ethereum is looking to market a 2.0 version of its coin, Dogecoin could follow in the same footsteps and make improvements to this aspect with an upgrade to its technology.

Lack of extra functions When discussing what coins will prevail in the cryptocurrency market there are many things to take into consideration. While Dogecoin solely works as a digital currency there are other coins like Ethereum that have more available uses. Ethereum is a complete network where developers can create apps in regard to the currency Ether or make NFTs, to name a few of its uses. It’s also being steadily improved over time by the many developers that use the network, which could be considered an edge when comparing the purpose of coins.

Like with most other cryptocurrencies that are used in a casino setting, getting started in a dogecoin casino is simple. Many sites only require a username, password and email when signing up. Scan our list of Dogecoin casinos and compare the pros and cons to find a site that suits you the best. After you’ve decided where you want to gamble you’re going to be needing some currency, Dogecoins.

Find a crypto exchange where you can buy, sell and trade Dogecoins. Binance is the most used option but the list of population-approved exchanges is long and Dogecoin is going to be found in pretty much all of them. Buying Dogecoin is regularly done using your credit card or with a bank transfer but there are more options if you don’t want to use one of these two. For example, you can trade virtually anything for Dogecoins, depending on what the holder of the coin is looking to trade it for.

Once you’ve secured some dogecoin you’re ready to make a deposit in a casino. This is normally done with the use of a QR code scanner or by depositing dogecoin to a wallet address that’s provided by the site. Transactions usually take less than a minute and after you’ve received the coins in your casino wallet you’re ready to go. When you’re done gambling you can withdraw your winnings back into your crypto account where you can use them as currency or withdraw them back into FIAT money again.