The advent of a cryptocurrency exchange has brought about many possibilities, making these currencies available for numerous purposes. For example, Doge – one of the most popular cryptocurrencies, is now being utilized for gambling on different sites. Undoubtedly, using cryptocurrency for gambling has become a profitable venture for many punters in 2022.
In this age of cryptocurrency advancement, Doge is becoming prevalent, making it a go-to coin for gambling transactions. Like Bitcoin, which started this trend, Dogecoin and other cryptocurrencies are now the latest favorites of online players. Consequently, this article focuses on the benefits of Doge gambling sites and how they support pacy transactions. First, however, let’s discuss their legality.
Is Dogecoin Legal For Gambling on Online Platforms?
The question about Doge being legal for gambling on sites has no direct answer. Such a question is the same as asking if cryptocurrency like Bitcoin is legal for gambling. The legality of gambling cryptos depends on the region or location where the gambler resides.
As it is, many regions and countries have deemed it legal to use cryptocurrencies for transactions. For this, many sites have adopted Cryptocurrencies, the most popular being Bitcoin. However, many other cryptocurrencies like Doge are becoming popular on gambling sites.
The Quality of Doge Gambling Sites
Doge gambling sites have various types of licenses; however, there are also gambling sites that do not have rights. Moreover, it could be pretty dangerous to bet on dodgy doge platforms.
Most crypto gambling sites in Canada usually work with the Curacao eGaming license, a quality gambling license. But some also offer approvals from the Malta gambling authority. Others get it from the United kingdom gambling authority if the doge betting site has any of the three rights mentioned above.
Why Use Doge For Gambling?
Dogecoin, as many know it, is an altcoin whose initial purpose is for payments. However, the currency has grown to be one with a very high reputation. With billionaire Elon Musk investing in the token, its value is increasing yearly.
Not only does Doge’s value have the potential to appreciate, but this token also has the potential to be utilized for multiple transactions.
The Elon Musk Factor on Doge
The recent growth of crypto has only one name attached to it, which is that of Elon Musk, the C.E.O of Tesla. Elon Musk started tweeting about Doge in 2019 when it had little value and looked like a meme coin. Furthermore, his constant hype and consistent tweets about the cash raised its value slightly, especially in 2021.
Many cryptocurrency holders believe that the doge price will rise by the end of 2022 if the Elon musk factor continues. Also, several gamblers now consider Doge as a means of payment for any Tesla products.
5 Benefits of Doge Gambling Sites in 2022
Doge is still a growing digital currency, yet it is already pulling some weight in the crypto gambling market. Even though doge gambling sites are relatively new, there are significant benefits attached to using them. We will now discuss some of these benefits.
1. Fast Transactions
Doge is regarded as one of the fastest cryptocurrencies out of the popular coins in the market today. Moreover, the deposits and withdrawals made on doge gambling sites take less time to process the transaction than on fiat currency betting sites.
With Dogecoin being a decentralized digital currency, there is no third-party involvement. Therefore, transactions do not go through any banking system or external payment platform that requires your bank’s confirmation.
2. Easy to Purchase with Low Price
Among the top coins accepted by most gambling sites, dogecoin value is probably the lowest. Due to the low value of Dogecoin, many gamblers who wish to gamble with cryptocurrency can’t afford the top coins like bitcoin or Ethereum switch to Dogecoin.
Although the price of a doge is estimated to increase in the next few years, many do not believe it will reach the levels of its predecessors.
3. Large Game Variety
Most crypto gambling sites offer the option of choosing between sports betting and casino gambling. Unfortunately, these sites are usually double-stacked with a different variety of games leaving the gambler spoiled for choice.
These sites offer sporting events like soccer, hockey, tennis, boxing, American football, rugby, and many more. Moreover, these sites are best known for their wide variety of slot games in their casino section. Furthermore, aside from slot games, these sites offer casino games like Roulette, blackjack, dice, and others.
4. Potential Value Increase
Among the newly formed cryptocurrencies in the market today, Dogecoin has the highest potential value increase in the coming years.
Many crypto analysts say Doge has risen by over 5.89% in the past 12 months, with many believing this growth will be steady in the coming years.
5. High Transaction Limit
Many traditional gambling sites with fiat currencies usually face financial regulations limiting transactions on these platforms.
Moreover, with crypto gambling sites, player transactions are not limited. As a result, players can make high withdrawals to their wallets without being red-flagged by any authority.
The primary means of gaining access to bitcoin is using a crypto exchange platform. Other methods might include peer-to-peer transactions that do not involve using a third-party system. However, crypto exchange platforms are the most used for buying cryptocurrencies.
Dogecoin’s value may not be as high as the other cryptocurrencies, but it can still pull a reasonable number of punters in the gambling industry. Therefore, having seen the various benefits of doge gambling sites, using Doge for gambling is undoubtedly a fantastic decision.