Cryptocurrencies

Is Dogecoin the New Favourite Coin for Gambling?

Dogecoin is popular to use when gambling online. There’s a plenty of reasons why the meme coin is a top choice for players and operators alike.

Source: https://commons.wikimedia.org/wiki/File:Dogecoin_gold_coin_on_wood_2_-_heads.jpg

Dogecoin (DOGE) is one of the most popular cryptocurrencies, which was made famous by memes. The iconic Shiba Inu dog logo has taken the world by storm, and in a short space of time become a household name.

As many DOGE enthusiasts prefer to HODL, spending coins is not as widespread as hoped. Nonetheless, in one industry, gambling, Dogecoin is extremely popular, because of its speed and low fees. Today, you’re able to play all the classic table games from roulette to blackjack, while transacting with crypto. Currently Bitcoin is the number one choice, but Dogecoin is on the rise.

There’s plenty of reasons for this, nevertheless, the primary factor is speed, as Dogecoin is much faster than Bitcoin. In addition, as DOGE is internationally recognized, scores of online casinos accept the coin as a payment option.

The trend of Dogecoin is not going away, in fact, everyday new online casinos are accepting DOGE as a payment method. Deposits and withdrawals are instant, and the fees are incredibly low, so it’s no wonder Dogecoin casinos are a popular choice for players. Even better, the big boys like Stake and BitStarz accept DOGE for transactions, so you know you’re in good hands! However, always remember to gamble responsibly!

Dogecoin first came to prominence in the great crypto bull run in 2021. As a meme alternative to Bitcoin, it has garnered support from the most unlikely of sources. Tesla’s CEO, Elon Musk is the most famous fan and he even dubbed it “the peoples coin”.

Also, Dogecoin has a huge following on social media, and millions of followers around the world. Thus, it would be silly to assume that in the next bull run Dogecoin will not moon. It’s not if but when.

In the current crypto bear market, there’s plenty of excitement around Dogecoin, while other meme coins have dropped off. In March 2022, Dogecoin minted an NFT on its blockchain, which was executed by a developer, and approved by the founder, Billy Markus.

Therefore, Dogecoin is exploring different use cases to attract new investors as well as promoting the coin to be used in everyday transactions.

Dogecoin V Bitcoin

Dogecoin and Bitcoin are similar cryptocurrencies in the sense they were designed to be digital cash. Nonetheless, Dogecoin was invented to poke fun at Bitcoin, and its founders could have never dreamed of the success it has achieved.

Bitcoin is widely used to transact in the gambling industry, and Dogecoin is hot on their heels. Because of its widespread adoption, low fees, and rapid speed, Dogecoin is quickly becoming a favorite in payment methods.

Dogecoin V Ethereum

Ethereum is the brainchild of Canadian-Russian computer programmer, Vitalik Buterin. Starting out as a writer for Bitcoin magazine, Buterin suggested improvements that could be made to the Bitcoin protocol. His advice was ignored, so he decided to invent his own cryptocurrency – Ethereum in 2014.

Ethereum is the standard smart contracts platform where protocols use the infrastructure to build decentralized apps (dApps). Today, there’s over 3000 dApps powered by the Ethereum blockchain, in a whole host of industries, from NFT marketplaces to decentralized finance (DeFi).

Dogecoin is more popular as a payment method than Ethereum because of cost and speed. Gas fees on the Ethereum blockchain fluctuate sporadically, and the speed of the mining process is much slower.

In the chart below, we give you key differences between Dogecoin, Bitcoin and Ethereum.

Dogecoin Bitcoin Ethereum
Average fee $0.04 $0.69 $2.89
Speed 1 minute 10 minutes 5 minutes
Market Cap $7.66bn $356bn $157bn
Twitter Followers 3.4M 5.5M 2.9M
Daily Active Addresses 54K 901K 497K

 

Data provided by Messari.

It’s no surprise why people love Dogecoin! It’s significantly cheaper than Bitcoin and 10 times faster. Therefore it’s perfect for making purchases online, whether at an online casino or for goods and services.

On the other hand, Dogecoin is not as widely used as Bitcoin, but why would it be? The DOGE community continues to grow, mainly through social media, because of memes, and its low fees.

So get strapped in, and look out for the next Dogecoin moon, with many speculating whether it will beat the all time high of 72c. It’s only a matter of time, because its social media following is huge, and Dogecoin’s features are superior to the competition.

Michelle Saddozai

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