What is Dogecoin
Dogecoin is another cryptocurrency, like Bitcoin or Ethereum. Dogecoin is special in that it actually started out as a joke. At first, no one thought it would take off.
Dogecoin is based on the popular “doge” meme, which features a Shiba Inu dog surrounded by broken English written in Comic Sans.
Its joke quality was meant to make it more relatable to a broader audience. That’s how it reached a capitalization of $60 million in 2014 and $2 billion in 2017. No one’s laughing now at this crypto heavy-hitter.
Where to spend Dogecoin
Because Dogecoins took a little while to be taken seriously, it has also struggled to be taken seriously across a wider variety of mainstream platforms.
If you’ve got some Dogecoins, I recommend checking out Bookmaker, which accepts Dogecoin and over forty cryptocurrencies. Being licensed in Costa Rica, it is safe for US bettors to spend their Dogecoins here.
Bookmaker is a mile ahead of its competition in terms of cryptocurrencies. Their fun and easy-to-use website also offer lots of cryptocurrency-specific bonuses.
- 25-per-cent cash offer for crypto deposits only: Up to $500 with 8x rollover on deposit and bonus amount.
- 50-per-cent cash offer for crypto deposits only: Up to $500 with 15x rollover on deposit and bonus amount.
- 100-per-cent cash offer for crypto deposits only: Up to $300 with 30x rollover on deposit and bonus amount.
Although Dogecoin is more limited than other cryptocurrencies in terms of where you can spend it, it has one very special advantage in terms of where you can spend it.
In the online community Reddit, Dogecoins are used as a tipping currency. If a user posts particularly useful or entertaining, you can tip them. This is one way to keep your favorite influencers engaged and producing the content you want to see.
There are lots of benefits to betting with Dogecoin. If you choose to use one of the few sites that accept the will benefit from a number of advantages.
Dogecoin Gambling is Anonymous
Anonymity is a right that all gamblers cherish. Currently, only cryptocurrency gambling can offer that level of protection. That’s why it’s important for us to connect you with these resources.
One of the biggest advantages of sites accepting Dogecoin is anonymity. The blockchain technology behind cryptocurrencies assures privacy, as each transaction carries a unique, unalterable code with no personal information.
If you use a common bank account, they need to comply with Know Your Client (KYC) protocols. These are laws that require them to verify the identification and social security numbers for all transactions. Bitcoins have no centralized institution that could be regulated by these laws.
These are wonderful advantages for anyone wanting to keep their personal life private or to put an extra security step between your banking information and your gambling account.
Because you can open accounts at these gambling sites with just a valid email, your identity can essentially be untraceable to your accounts with betting sites.
Dogecoin Sports Gambling is Tax-free
Gambling with Dogecoins means protecting your identity. Transactions made in Dogecoins are nearly impossible to pinpoint to any single individual. This makes it hard for the IRS to track Dogecoin winnings to individual taxpayers.
Of course, you should be paying taxes on all capital gains including gambling winnings. But it is difficult for cryptocurrencies to be monitored like the stock market, for example.
Dogecoin Deposits and Payouts are Faster
While transactions with credit cards, checks, and bank transfers can take several days, or even more than a week. Cryptocurrencies are much faster than these older, more traditional payment methods.
Dogecoin deposits can be available within minutes, with a maximum of 40. This is a clear advantage to any bettor, especially those participating in live betting or on a hot streak.
Reduced Transaction Fees
Most bookmakers charge a transaction fee for credit cards and bank transfers. These can carry quite the sticker shock.
But no worries, betting with Dogecoin or other cryptocurrencies will reduce or eliminate them completely. Specifically, at Bookmaker, they do not charge any transaction fees for deposits or withdrawals.
Where to get Dogecoin
You can get Dogecoin like many other cryptocurrencies, with a few additional options. First, let’s go through the ways that are similar.
Dogecoin is a bit easier to mine than Bitcoin. Dogecoin is different from other cryptocurrencies in that it has no limit to how many coins can be produced or mined. This makes it an inflationary currency.
Like other cryptocurrencies, you can get Dogecoins via faucets. Faucets are sites or apps that pay you minuscule amounts of cryptos for watching adds or performing simple tasks that require human intelligence.
Dogecoin offers a unique way to get them as well. It is often used as a sort of tipping in online communities, such as Reddit. Users who post useful or interesting content often receive Dogecoin tips from other users.
So, if you become an especially beloved member of certain online communities, you could end up awash in Dogecoin without even realizing it.
Wallets are important places for storing your digital currencies. Most of the important things to keep in mind for cryptocurrency wallets will apply to Dogecoin wallets.
An additional concern is that not all wallets will be compatible with Dogecoin. The biggest ones will be. Just double-check to make sure.
Dogecoin has its own official wallet as well! So there’s no excuse for not finding a good option. This is a solid option that will not have any problem securing and moving your Dogecoins.