Gambling with DogecoinEntertainment, Gambling
What is Fintech? The integration by financial service business of technological advances to improve usage and delivery. And the biggest lesson it taught us as of 2021 is that currency doesn’t have to be so serious!
Legendary leaders of state and notable fauna and flora are great for printing on coins and notes, but sometimes, a meme will do just as well. Dogecoin, the cryptocurrency now widely accepted at many websites in Canada, is the perfect example. In fact, you may even find that in the future, this currency is accepted at your favourite online casino!
Ready to dive into the world of Dogecoin? We are!
The Famous Shiba Inu
The Doge meme rose to fame back in 2013. It typically consists of an image of a Shiba Inu, a Japanese dog, accompanied by text in Comic Sans. The writing depicts the animal’s supposed internal monologue. This means that the broken English represents how dogs would speak if they could.
Dogecoin launched in December that same year and saw the meme enjoy a resurgence in popularity thanks to the obvious link. And it went from strength to strength since then. This cryptocurrency hit a market capitalization of over CA$110 billion in May this year.
Dogecoin has a devoted community attached to it and many businesses have come to accept it over the years. You can now purchase clothes, drinks, food, and many other things. And online casino operators increasingly accept it too. This means that you can enjoy real money Baccarat, Blackjack, Craps, Roulette, and slots using this currency.
At certain sites, you can even earn Dogecoin by playing certain games. You may also be able to find special offers related to depositing using this cryptocurrency. This puts it on a much stronger footing when compared to the dollar, euro, franc, pound sterling, and yen.
How it All Began
Bitcoin was the first cryptocurrency and Litecoin and Luckycoin followed, with Dogecoin emerging just after. A Programmer from Portland, Oregon, in the USA, Billy Markus, and Jackson Palmer, an employee at Adobe Systems, are the pair behind Dogecoin. And they brought a great sense of humour to the table.
They planned this new cryptocurrency as a kind of elaborate joke, never imagining that their brainchild would reach a market cap of the equivalent of over CA$70 million when it was just one month old.
Charity’s Crucial Role
The charity fundraising effort arranged by the larger community may have had a hand in the incredible success Dogecoin enjoyed so early on. In the winter of 2014, it was announced that a fundraiser for the equivalent of just over CA$62 000 was being put together. The money would be used to get the Jamaican national Bobsleigh team to the Sochi Winter Olympics in 2014.
Things went very well and the cost of Dogecoin increased by 100% in the 24 hours after this announcement was made. And the Jamaican team did end up getting to the Russian city on the Black Sea that hosted the Olympics that year.
Other successful philanthropic enterprises followed, including Doge4Water and a sponsorship for a NASCAR drive named Josh Wise.
TikTok Joins the Party
Last year, TikTokers decided that boosting the price of Dogecoin would be a good idea.
They aimed for the equivalent of CA$1.25. And while it may not have reached that dizzying height, it certainly improved. Then celebrities like Ellen DeGeneres, Elon Musk, Mark Cuban, and Snoop Dogg publicly endorsed this cryptocurrency, making it that much more valuable too.
Along with its various cryptocurrency counterparts, Dogecoin offers online casino players a range of advantages. The main one has to be the anonymity factor. Because the system does not require any of your personal identifying information, nobody ever has to know which sites you visit or how much you’ve bet.
There’s a huge money-saving element to consider as well. Dogecoin transactions are far cheaper than many more traditional options and it takes less time to process than fiat money does. Block reading speed for Dogecoin is about 60 seconds, so transactions are lightning-fast.
There are even parties that believe that gambling with Dogecoin, as opposed to other cryptocurrencies, is more profitable because of these factors.
And, because it’s a cryptocurrency, using it to fund your gambling account is a lot like using an ewallet, bank transfer, or credit card in all the positive aspects. But they are not controlled by anything resembling a banking board, central government, or even ewallet management. And you can do everything you need to using Dogecoin on your PC, smartphone or tablet. You never have to go anywhere near a bank, Western Union, or anywhere else again if you don’t want to!
Even though it is such a popular cryptocurrency right now, it is still to be found at fewer websites than its counterparts. If you are the kind of player who enjoys holding multiple accounts, your resources won’t be as wide as they would in the case of Bitcoin, Dash, Ethereum, Litecoin, or Ripple, for example.
There are additional benefits to using Dogecoin at places other than an online casino, and those involving faucets allow you to earn cryptocurrency while you play. They can also be seen as something of any entry point to this cryptocurrency and one even has an origin story similar to Dogecoin itself.
Gabriele Cirulli, an Italian teenager, invented Doge 2048 because he wanted to see if he was capable of coding a game from scratch. Over 100 000 tweets and many cheesy knockoffs later, he’s surprised at how popular his attempt has gone on to be!
The original is a kind of sliding block puzzle, like Klotski, and gets played on a grid like Sudoku. It also involves mathematics, with the object being to combine the numbers displayed on the tiles until your reach the magic title of 2 048. The Doge version replaces the numbers with similar pictures of the famous Shibu Inu and asks you to combine those instead of the numbers.
And then there are mining simulators as well. In DogeMiner, for example, you need to collect enough coins to take a trip to the moon. Physical miners are the source of all the power in this mining pool and the latest algorithms are utilized in the game. The goal is to mine as much Dogecoin as you can with the least amount of effort and just registering will see you earning 0.02 every 24 hours.
You can buy Dogecoin using either fiat or virtual currency on any one of the exchanges that provide the proper currency pair. Examples include Binance, Coinberry, Huobi Global, Kraken, and Quebex.
You can also buy this cryptocurrency from individuals that send Dogecoin directly to your wallet.
Some of the most frequently asked questions when it comes to Dogecoin and the iGaming sector regard depositing and withdrawing. These operators allow you to deposit using this cryptocurrency, collect your prizes in it, and withdraw using the meme coin too. This makes the whole experience an ultra-convenient one. Once you’re signed in to the site, head to the Cashier, Banking, or similar section and from there, head over to your Dogecoin wallet and scan its address or the QR code. As soon as you confirm the transaction, you’ll see the amount you deposited available in your online casino account. It’s really that easy.
The process for withdrawing is identical, so you won’t have to learn an additional, different process to receive your winnings. Head over to the banking section of the online casino that you’re a registered member of and choose Dogecoin from the list of withdrawal methods provided there. Insert your wallet’s address and authorize the transaction. And take your time! If you get anything wrong, you won’t be able to reverse the transaction. Many Canadian players interested in using Dogecoin also wonder about the fees for using it at the online and mobile casinos they’re signed up at. There are some since blockchain-based transactions naturally incur certain costs, but these are negligible. And they are also significantly lower than the charges payable for using many other cryptocurrencies.
This information is very easy to check though, so simply approach the customer care agents and query this matter if you don’t find it addressed anywhere else on the site. As far as questions about Dogecoin’s legitimacy are concerned, we’re happy to say that the fun branding has no effect on this aspect of this cryptocurrency. As long as you choose a licensed iGaming site to spend time at, you don’t have to worry about anything in terms of safety and security.
In terms of the limits in place at online and mobile casinos when it comes to Dogecoin, this will vary from site to site. But, because the coin’s value is lower than fiat currency, you can expect higher limits. But be sure and check whether or not it’s changed since the last time you used it since it is subject to fluctuation. And be prepared to deposit and withdraw in Dogecoin alike, since most operators prefer that players use the same process as far as is possible. And remember, that Shibu Inu wants you to play responsibly, along with the rest of us!