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It may have all started as a joke. However, today, DogeCoin is a popular alternative to Bitcoin and is widely used for online transactions. This Altcoin is perhaps most known for its logo and fast transactions. Faster transactions are one of the reasons why DogeCoin casinos are rising in popularity.
Of course, online casinos have realized the trend and offer gambling with DogeCoin. There are several advantages to playing online casinos with Doge. Some advantages are found in all online crypto casino sites, while others are more Token-specific. Doge Coin offers both positives and negatives. Keep on reading below for all details.
One of the positives is that DogeCoin is processed faster than Bitcoin. Despite having the same block size of 1MB, while Bitcoin takes roughly 10 minutes to process a block, DogeCoin takes but 1 minute, which makes it ten times faster!
Are you looking to find your next casino that accepts DogeCoin? Look no further! This DogeCoin Casino review contains valuable knowledge and what to look for when picking the best site. One perk we might mention here is that some operators even accept the Snack Token! Have a look at the list below. The list has the best Doge Casino sites and bonus offers.
Dogecoin Casino Bonuses
The variety of games is important, but so is the variety of bonus offers. Almost every Doge site will offer one kind of casino bonus or another. We can easily recommend common offers in the online gambling industry.
You can expect a welcome offer. Free spins and no deposit bonuses are a plus, so make sure that your Doge casino of choice has it all.
Doge Casino Games
There are no surprises if you’re wondering what kind of casino games you can play on this kind of gaming platform. These casinos offer everything regular crypto or online casino offers.
This means slots, blackjack, roulette, baccarat, poker, other games, and live dealer games.
There are plenty of software providers these games come from. The top ones we can wholeheartedly recommend are:
- Red Tiger Gaming
- Yggdrasil Gaming
- Play’n GO
- Evolution Gaming
This is just a fraction of the providers you can expect to find in Doge online casinos. There are plenty of options, and you should try them all to find a game to fall in love with.
Casino Deposits and Withdrawals with Doge
Fiat money deposits and withdrawals are slow when compared to Doge. Cryptocurrency deposits are instant, and so are the withdrawals at most Doge casino sites. The fees are pretty low, almost non-existent compared to the amount banks rip off.
There are two things you want to consider when choosing your Doge casino, at least in terms of depositing and withdrawing your winnings.
- Any daily, weekly, or monthly withdrawal limits
- If you can withdraw Doge Coin
THE PROS: ADVANTAGES OF DOGECOIN
Growing Community of Users
One of the advantages of Dogecoin is that it has an established and growing community of users and supporters. It is one of the top ten cryptocurrencies in the world in terms of market capitalization. It even ranked fourth on one occasion. Cuban and Musk explained that its growing user base makes it an ideal medium of exchange.
Note that the community donated $30,000 to fund the trip of the Jamaican bobsled team to the 2014 Sochi Winter Olympics. Furthermore, the community donated $11,000 to build a well in Kenya, and another
$55,000 to sponsor NASCAR driver Josh Wise.
Decentralized Exchange Compatibility
This cryptocurrency can be transacted and traded on decentralized exchanges. Specifically, the Ren Project has enabled it to work on the Ethereum blockchain platform and access the decentralized finance network. This means it is compatible with the emerging decentralized finance movement within the cryptocurrency market.
In addition, although it cannot interact with smart contracts directly because it runs on its own blockchain with no built-in smart contracts feature, it can be “wrapped,” thereby locking it in a state interoperable with a contract until it is later released.
Positive Side of Volatility
Cryptocurrencies are volatile by default due to their sensitivity to speculation-related occurrences, increasing competition intensity, and lack of universal consensus as a collective class of assets. Their historical performances have experienced extreme highs and sudden price drops within short periods. The same is true for Dogecoin.
However, volatility can have some advantages, especially for day traders or those individuals who buy and sell assets within one day. Price swings in a given day can allow cryptocurrency traders to earn considerable gains through day trading.
THE CONS: DISADVANTAGES OF DOGECOIN
Has No Supply Cap
The lack of a supply cap is one of the most significant disadvantages of Dogecoin. Unlike Bitcoin and the Ada token of Cardano, which are deflationary because they have a predefined cap on supply to create scarcity and potentially increase its value in the future, it is deflationary. Cryptocurrencies with no supply cap are unideal assets to hedge against inflation.
Furthermore, the continuously growing supply will require more expansive blockchain mining activities in the longer run. Because this cryptocurrency uses a proof-of-work mechanism to achieve consensus, it will require expanding its pool of miners and their powerful computers to handle an increasing number of transactions in the future.
Criticisms of Dogecoin
The mainstream media and financial experts had difficulty taking this cryptocurrency seriously. A handful of analysts have also noted that it is an extremely risky investment characterized by pump-and-dump behaviors and higher sensitivity to speculations and fads driven by herd mentality. Others call it a pyramid scheme.
In his 2021 article published by Foreign Policy, David Gerard argued that there is no good use for cryptocurrencies except for trading. He argued further that these “assets” have no use cases. Individuals unfamiliar with what they are doing and simply joining the bandwagon often fall prey to personal finance and investment fads.
Poor Technical Support
Dogecoin has relatively poor technical support despite its growing community of users and supporters. The development team is not as big as Bitcoin, Ethereum, and Cardano. Furthermore, these cryptocurrency market giants are not as straightforward as the product roadmap.
There have been no critical technological updates and developments since 2015. It is also important to highlight that it does not offer any unique selling proposition in terms of technology. The pronounced goals or aspirations of this cryptocurrency and the entire blockchain platform are less ambitious than the major players.