Deposit with Dogecoin at an Online Casino: Buy, Set Up a Wallet, Transfer
In this article, I am assuming that you already possess some Dogecoin, or at least you know how to buy crypto. Otherwise, I have some tutorials which will definitely help you to obtain crypto:
How to buy crypto on Binance (lowest fees for bank cards purchases on the market which equals to 3.5% for Mastecard and 0% for VISA in the European Economic Area)
How to buy crypto on Bitstamp (cool option if you are going to buy crypto with bank transfer, especially in SEPA zone)
Later, I am going to show you (with illustrations) how to:
safely set up a crypto wallet with Dogecoin chain
transfer and receive Dogecoin on your own wallet
A few words about Dogecoin
I suppose it is going to be useful for the beginner user of Dogecoin to get at least a basic understanding of how this particular cryptocurrency works.
Dogecoin was founded in December 2013, and it was built around popular back then “doge” Internet meme. Initially, it was launched rather as a joke, but it turned out that Dogecoin has gained much attention, which allowed Dogecoin to acquire a strong community around it (the most important thing for every cryptocurrency, since the community ensures safety in the crypto world).
Once, Dogecoin was even mentioned by Elon Musk on Twitter as his potentially favorite coin.
Speaking about technical details, Dogecoin is POW (proof of work) cryptocurrency, similar to Bitcoin, Litecoin, BitcoinCash. In fact, Dogecoin was forked from Litecoin with some changes to its protocol (Litecoin, for its part, is a fork of Bitcoin).
So to say, miners process all transactions and ensures integrity in Dogecoin network, very similar to Litecoin and Bitcoin. However, due to some changes that Dogecoin had faced (1 block per 1 minute), it became much faster and cheaper than Bitcoin.
Being rather in the first batch of cryptocurrencies, Dogecoin does not provide users with various features and was designed only to be a storage of value on the internet (the same as Bitcoin). However, it does such kind of job perfectly well. That statement can be confirmed by a huge and friendly community of Dogecoin miners and enthusiasts.
Why Dogecoin is a handy payment method for online casino players
Instant payouts. It takes around 1 minute for Dogecoin miners to process a transaction in the Dogecoin network. For comparison, Bitcoin transaction is usually processed in 30-60 minutes (first block + a few confirmations). Needless to stress out how fast Dogecoin is in comparison with other options.
Close to nothing fees. It costs 1 Dogecoin (0.002 EUR at the moment) to send a transaction, and it does not matter how much value you are going to transfer (only 1 Dogecoin even for transactions which are worth millions of euro). Receiving money to your Dogecoin wallet is free for you (the only sender pays 1 Dogecoin).
Privacy of transactions. If you decide to open a wallet with Dogecoin, you don’t have to identify yourself, as you would have to with any e-wallet. Hence, all your transactions are private until you wish for some reason to manifest that particular Dogecoin wallet belongs to you.
Much better bonuses for Dogecoin depositors. Online casinos are getting fucked by e-wallets and bank card operators. They are charged unbelievable 5-10 % for each transaction you make at an online casino. Therefore, online casinos are kind of on a budget, and they can not offer their players really generous bonuses. Dogecoin, in turn, exempts online casinos from unnecessary losses. Hence, you, as an online casino player, can count on cool promotions.
Higher withdrawal limits at online casinos. For the same reason, an online casino set their withdrawal policy in much more favorable for casino player way.
Two types of Dogecoin wallet
Think of crypto wallet as your intermediary to the Dogecoin network. The wallet verifies your credentials, and once it has been done, Dogecoin wallet connects you with miners, who process all transactions in the Dogecoin network.
It is important to note that Dogecoin wallet (as many other cryptocurrencies) can be implemented in two different ways:
Hardcore way. In this scenario, special software that takes up 20 GB of your PC’s space must be downloaded.
Soft way (via web browser). Here we can access the Dogecoin network through any web browser without additional software needed.
Both methods have their own pros and cons. However, I believe that for average online casino player it is rather excessive to follow “geeky” path until he/she decides to store a significant amount of Dogecoin. I guess you are not a big fan of making things more complicated than they need to be as well, right?
Web browser Dogecoin wallet does not have any functionality limitations in comparison to its hardcore version, and it has only one security weak point, which can be avoided (I will show you how to do so).
How to set up a light version of Dogecoin crypto wallet (account)
Step 1. Visit the Dogecoin chain official website and, then, click on “Create wallet”.
Step 2. Fill out all fields. Make your own password and enter it into the fields. Make it at least 20-characters long and save it carefully somewhere. If you lose this password then your Dogecoin is gone forever. There is no way to restore your password. As for email address, you can even enter a fake one, if you don’t feel comfortable with sharing your email.
Step 3. Save your Dogecoin account number. This is your login/account number in Dogecoin chain. You will need it each time you want to use your Dogecoin wallet. So to say, safe it carefully alongside with your password.
Very well, now you have a full-fledged Dogecoin account of your own. You can send Dogecoin or receive it into this account.
How to deposit Dogecoin at an online casino
Step 1. Go to the online casino’s website. Set Dogecoin as one of your currencies and click on “deposit”. Here you will be provided with Dogecoin address, on which you are supposed to deposit money (Dogecoin in our case).
Step 2. Then visit Dogecoin wallet official website and click on “Log in”. Here you need to enter your Dogecoin id and password. Once it has been done your wallet will open.
Step 3. Click on “send” section. In the first field enter Dogecoin address that you got at an online casino (in step 1). Filling up this field you’d better be very meticulous since in case of any mistake there is no way to reverse such transaction. In the second field enter the amount of Dogecoin you are going to deposit and click “send”.
That’s how easy it is. I got my dogecoins into my online casino’s balance in 2 minutes.
How to receive Dogecoin from an online casino to your wallet
It is very easy to do as well. Just log in your Dogecoin account, use your id and the password, exactly as we did in the previous chapter.
In “My wallet” section you can find your Dogecoin address.
However, one big precaution must be taken. Some people confuse Dogecoin id and Dogecoin address. Those are two completely different things and mistakes regarding these matters could cost you money.
Dogecoin id is used only to log in your Dogecoin wallet. Don’t send Dogecoin to it. Otherwise, such transaction won’t be processed.
Dogecoin address is your personal address on Dogecoin chain. That is what you need to enter in order to receive Dogecoin in your wallet.
Security measures for Dogecoin users
Except for keeping your password safe, there could be only one vulnerability. Such type of cyber-attacks is called “fishing”.
A hacker is trying to make a website that looks exactly like the official one. An unsuspecting Dogecoin user enters the credentials (id and password) on hacker’s website. After that, a hacker has got full access to the victim’s Dogecoin wallet and can easily steal money.
How to prevent it from happening? Each time verify that you are on the official website. In order to do so, on the top of your web browser you can find information about on which website you are currently on.
It must look like EXACTLY like this: https://my.dogechain.info (and some characters later which don’t matter). It is a 100% guarantee that you are not on scammer’s website.
Some other questions you may ask
What happens if I lose the Dogecoin password? Then all your money from this wallet is gone. There is no way to restore your Dogecoin password since it was set automatically, and you are the only one person who has access to it. That’s how all cryptocurrencies work. Given that, you’d better make multiple copies of your password.
What happens if I send Dogecoin to the wrong address? As all transactions in Dogecoin chain are irreversible your money is basically lost. That is an advantage and disadvantage at the same time. No third-party can cancel transactions, but it causes money losses in case it was sent to the wrong recipient. Thus, each time you initialize a transaction, check carefully that “destination” was entered correctly.
What about privacy? Dogecoin does not require to identify yourself when you are opening an account. Nobody knows who possess particular Dogecoin wallet until this person decides to disclose him/herself.
Can somebody brute force attack my Dogecoin password? If you set your password to be long enough, then you have nothing to worry about. Only a short password is susceptible to brute force attacks. For instance, it would take 11 trillion years to hack a 20-character long password.
Can any government confiscate my Dogecoin wallet? No, under any circumstances. The only one who controls Dogecoin password controls all funds in it. Not even Dogecoin founders know your password. That’s how the system has been designed initially, being free from any authorities.
Do Dogecoin miners get my password when I send a transaction? Absolutely no. They rather get its encrypted version in order to verify your credentials.
It is sad to see how many online casino players are still ignoring Dogecoin as a deposit method at online casinos. I understand that cryptocurrencies are not beginner-friendly in general. But the benefits of using Dogecoin for online payments are hard to overestimate.
Hopefully, I have proved in this article that setting up a Dogecoin wallet is not rocket science at all. The process of sending and receiving money is rather smooth, and it takes literally one-mouse-click to accomplish.
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