One of the biggest complaints in the crypto space is the lack of uses that certain coins suffer from. It means you can hold your crypto for what seems like an eternity, riding out all the ups and downs, like the dogecoin holder that lost almost $1.8 million from his portfolio.
There is some fun you can have, though. If you like the thrill of winning more money, you can gamble with dogecoin.
We’re going to take a look at everything you need to know before hitting the dogecoin casino, so read on.
The Basics of Dogecoin
Before you start trying to gamble dogecoin, you should brush up on the very basics of the coin. If we had suggested that you do dogecoin gambling before 2021, you might not have even known what we meant.
Since then, the coin has seen a surge in popularity, becoming one of the most valuable cryptocurrencies. This was notable enough alone, but even more impressive is the cultural popularity of the coin.
To a lifelong holder of doge, it might seem crazy to start gambling it. The community’s unshakeable determination to hold despite all odds made the coin famous and strong.
But why hold when there are opportunities to increase your investment? Gambling with dogecoin gives you the chance to make substantial long-term gains on your dogecoin portfolio.
How Popular Is Dogecoin Gambling?
If you’re new to the crypto gambling space, you might be worried that trying to gamble with dogecoin is dangerous. The last thing anybody wants to do is jeopardize a cherished investment, especially one with long-term value.
We can set your mind at ease by telling you that crypto gambling and gambling with dogecoin are both safe. There’s an entire industry built up around the activity, with hundreds of different casinos and games. Millions of gamblers worldwide are enjoying a novel way to use their cryptocurrency.
Even more interesting is that it’s as safe as regular gambling. All that’s left to do is find somewhere to start gambling.
Picking a Place to Gamble with Dogecoin
Even though there’s an established industry built around it, not all gambling websites will accept dogecoin. Despite the incredible surge in popularity, it still isn’t as popular as fiat currencies.
You don’t need to go anywhere shady to start spending your dogecoin, though. Don’t jump at the first dogecoin casino that you find. If you deposit your dogecoin on a fraudulent website, there will be no getting it back.
If you want an excellent place to start, you can look at these crypto casinos. You’ll find reviews of popular websites that offer dogecoin gaming. This way, you can be 100% sure your coin is safe.
How Does Dogecoin Gambling Work?
In many ways, it’s just like using an exchange or transferring crypto to a friend. Almost everywhere that allows dogecoin gambling will function in the same way. All you need to do is obtain the wallet address for your account with the casino and deposit the crypto.
Most sites should tell you exactly which cryptocurrencies they support, so there should be no confusion. Be sure that you don’t make any mistakes with the wallet address, as there will be no way to recover your cryptocurrency should you make an error.
How Much Dogecoin Do You Need?
You can start gambling with dogecoin in small or large quantities, whichever is your preference. There are a few considerations to make before you do, though.
For starters, you need to consider the value of dogecoin. Even at the height of the coin’s popularity, it was barely worth more than half a dollar. Those prices fluctuate in all crypto spaces, but the base value is low with doge.
If you want to make any significant amount of money from your bets, you’ll need to stake a lot of dogecoins.
If you don’t gamble with at least $20+ worth of dogecoin, you’ll probably lose money during the withdrawal, thanks to transaction fees. That’s an issue that you’ll see with many cryptocurrencies, thanks to the way that the blockchain functions.
There’s also the issue that you may need a different cryptocurrency during the exchange process. Due to the lack of the same kind of legitimacy that bitcoin enjoys, some websites will only allow withdrawals into other cryptocurrencies.
What Kind of Dogecoin Gambling Games Are There?
If you’re already a veteran of the online casino world, you’ll know about the fantastic variety of games. Are the same kind of games available to people who want to spend some of their dogecoins?
We’re pleased to say that if you want to gamble dogecoin, you’ll have a lot of different ways to do it. Everything you can imagine, from dogecoin slots to games like blackjack and even lotteries!
Exciting Ways to Use Your Dogecoin
As we move forward and see cryptocurrency become adopted on a broader basis, we will see a lot more uses for our coins. We already used it as an investment opportunity, and now we’re gambling with it. All of this has taken place over a few years, too!
Who knows where the future will lead. It would be best if you had a place to keep track of it: somewhere that you can stay up to date with all of the developments.
After all, the biggest gamble with dogecoin is not staying informed. To stay in the cryptocurrency loop and protect your dogecoin, keep reading our articles on the blog!