Isn’t Dogecoin Too Risky?
Dogecoin has, at times, been given a reputation for being “risky” amongst crypto enthusiasts. Primarily, this is because it tends to be a touch volatile compared to other mainstream cryptocurrency options. Blackjack players may not find this ideal, and there’s nothing wrong with acknowledging that.
However, Dogecoin has also proven itself worthy enough of being a reliable crypto betting option time and time again. In fact, many trusted blackjack and other crypto games facilitate the use of DOGE, highlighting its growing status amongst bettors online.
To provide clarity and shed some light on the real nature of betting with DOGE, let’s explore some of the main reasons why users prefer it for their online gambling action:
Now Considered a Top Crypto
Dogecoin has had an up-and-down past. For some, the notion that DOGE is a meme cryptocurrency just can’t be shaken. However, many in the know have seen progression with Dogecoin over the last few years, and it is now recognised as one of the top five cryptocurrencies you can bet on blackjack with, alongside Bitcoin, USDT ,Solana and Litecoin.
Dogecoin’s low fees have unquestionably been attributed to its rise in popularity amongst crypto blackjack bettors. It typically uses a basic fee structure whereby the size of the transaction determines the size of the fee. As most DOGE transactions are low in KB (kilobyte) size, the transaction fees are typically low.
Like most cryptocurrencies used for betting, you’re essentially double gambling when you bet on blackjack with Dogecoin. What we mean by that is that you’re risking your DOGE by betting on the game, first and foremost. However, if you hold onto your DOGE in your casino account, you could potentially increase (or decrease) the value of your tokens when you trade them later, based on the market fluctuations over time. This constitutes a form of gambling not unlike stock trading. In short, by holding on to your DOGE, you’re effectively gambling twice.
With transaction times of under a minute, Dogecoin is naturally an appealing option. Moreover, having been around since 2013, experience is on its side. It has a team of developers who regularly update its network and infrastructure, making it just as reliable as those of other mainstream cryptocurrencies.