What is Dogecoin (DOGE)?
What is Dogecoin? - Guide to DOGE Crypto Coin
At Stake.com, we make it easier than ever to play with the latest and most popular cryptocurrencies. Whether you’re making a deposit, playing your favourite games or cashing out your winnings, you can choose from a range of crypto assets, including Dogecoin.
In this guide, we’ll explain Dogecoin and how to use it at Stake Casino and Sportsbook.
What is Dogecoin (DOGE)?
Dogecoin, better known simply as DOGE, is an open-source cryptocurrency that provides peer-to-peer online transactions over a fast network. It was originally created as a parody but is now one of the most widely used crypto assets.
While coins such as Bitcoin are deflationary, as they have a limited supply, DOGE has an unlimited supply. Mining computers create new coins through the process of solving complex cryptographic puzzles and validating transactions on the blockchain.
The coin’s logo and identity are based on a Shibu Inu dog named Kabosu, the face of the popular Doge meme on social networks. It was the first example of a meme coin, and many similar coins have since been created in the years since it launched.
The less serious nature of Dogecoin helped fuel its rise. Fans of DOGE also formed an online community that promotes the asset while setting up fundraising goals. The loyal community has raised funds to help victims of crypto hacks, sponsor Olympic athletes and NASCAR drivers and build wells in Kenya.
History of DOGE & What is it Used For?
December 2013 – Dogecoin is launched by software engineers Billy Markus and Jackson Palmer to satirise cryptocurrencies and the hype around them.
January 2014 – Dogecoin briefly surpasses all other cryptocurrencies in terms of trading volume.
January 2018 – Dogecoin reaches its peak market capitalisation of nearly $2 billion, and a value of $0.017.
August 2021 – Following co-founder Jackson Palmer's departure, the Dogecoin Foundation was re-established with the goal of developing Dogecoin and its community. Ethereum co-founder Vitalik Buterin is a notable addition to the board.
May 2021 – Dogecoin value surpasses $0.50 per coin for the first time.
Since Dogecoin was established using the Litecoin network, it functions in more or less the same way. Users can send and receive DOGE through a crypto wallet, paying for goods and services or transferring money to friends and family.
As Dogecoin has become more popular, the number of companies willing to accept it as a form of currency has increased too. It’s available to use when gambling with crypto on Stake, with both deposits and withdrawals in DOGE accepted.
How to Bet on Casino Games & Sports with DOGE?
To enjoy casino games at Stake with DOGE, all you have to do is follow these steps:
Log into your Stake account, or create one if you haven’t already done so.
Check your current balance and deposit DOGE if you need to.
Open the casino page and check the available games including slot machines, table games, live casino games and poker tournaments.
Choose a game based on your preferences, based on your preferences, house edge and our guides.
Use our how-to guides for information on how to play.
Set your responsible budget with the Stake Smart calculator.
Betting on sports with DOGE is easy too. Just follow these steps to get started:
Open the Sportsbook and check your balance.
Make a deposit if you need to, then browse the live and upcoming events.
Search for a specific sport, competition or team to find what you’re looking for.
Use our sports betting guide for details on how to bet.
Choose a betting market such as moneyline, over/under, spread, props or outrights.
Check the betting odds and enter your responsible stake in the bet slip.
Confirm your bet, and then watch the live stream if it’s available.
How to Deposit & Withdraw DOGE on Stake
Deposit
Deposit DOGE to your account and start playing by following these steps:
Log in and open your Stake account wallet.
Choose Deposit or Buy Crypto.
If you already own DOGE, copy the wallet address and send it from your personal wallet, making sure the amount is within the deposit limit .
If you don’t already have any DOGE, you can purchase it on any of the main crypto exchanges.
Alternatively, select Buy Crypto to purchase DOGE using Moonpay and Swapped.com to buy your chosen crypto. Select any of the available payment methods to complete your transaction and add DOGE to your account. You can also refer to our guide on Mesh to learn how to link your personal wallet directly on Stake to deposit and withdraw your favourite choice of cryptocurrency.
Withdraw
Cashout funds in Dogecoin by following these steps:
Open your wallet and check you have enough to cover the minimum withdrawal.
Paste your personal wallet address and check it’s correct.
Choose the network you want to use to send your DOGE, making sure it’s compatible.
Enter the amount you want to withdraw then confirm the transaction.
Once the payment is processed, Stake will send your coins to your wallet.
If you have any questions or issues when trying to make a deposit or withdrawal, you’ll find lots of answers on the help centre page. Alternatively, contact the customer support team.
Best Slots & Sports to Bet Dogecoin On
The great thing about using Dogecoin at Stake is that it’s possible to play any game or bet on any sport you like. All of our exciting casino games can be played with DOGE, including classic slots, blockchain games, table games and all the latest releases. We’ve got games from all the top software providers, plus all kinds of online slots with different paylines, bonus features and ways to win.
If you’re a sports fan, you’ll also want to check out our sportsbook, with odds available on events all over the world. Loads of sports are covered, including soccer, cricket, rugby, tennis, F1, MMA, esports and much more. Pre-live and live betting markets are offered, and we’ve even got free live streams so you can enjoy the action.
How does DOGE Compare to Bitcoin & other Crypto?
Stake supports a wide range of different cryptocurrencies, and they each have their own features and advantages to take note of. Before you choose a crypto asset to start gambling with, you should know the differences between them and how they compare to DOGE.
DOGE stands out from coins such as Bitcoin because its value is much lower. While one Bitcoin is worth tens of thousands of dollars, one DOGE is still under $1. This makes it a lot easier for the majority of people to own an individual coin. EOS is another coin that is currently below $1.
The Dogecoin network is based on Litecoin (LTC), another crypto asset you can bet with at Stake. Both coins are ideal for fast online payments, letting you easily deposit and withdraw funds whenever you want. However, Dogecoin has an unlimited supply, whereas Litecoin has a maximum supply of 84 million coins.
Another meme coin on the scene is TrumpCoin, modelled after the U.S President Donald Trump. Unlike DOGE, TRUMP is hosted on the Solana blockchain platform.
Ethereum was one of the first blockchains to use smart contracts. This means it’s possible to use ETH to power decentralised applications (dApps). While Dogecoin can’t interact with smart contracts directly, it can be linked to the Ethereum network to make use of some dApps, similarly to Tron.
Similarly to Solana, Tether is perfect for online transactions as it can be moved quickly across multiple cryptocurrency networks for low fees. DOGE transfers are just as fast, but the cryptocurrency market is highly volatile. The low value of DOGE means it experiences significant gains or drops, which affect your bankroll when trying to gamble. Tether is a stablecoin and its value is always tied to the US dollar.
Why Should Bet with Dogecoin?
Secure transactions – Making deposits and withdrawals using Dogecoin is highly secure as you don’t need to enter any banking information. Simply copy and paste the wallet address and send the coins.
Fast transactions – Dogecoin is extremely fast and convenient, allowing you to make quick deposits and withdrawals.
Low fees – Dogecoin is very cheap to use, with no transaction fee to worry about when sending and receiving your coins.
Additional security – For additional security, use the Stake Vault to store your DOGE and other crypto assets. Enable two-factor authentication to stay safe when gambling with crypto.
Easy to purchase – It’s very easy to purchase Dogecoin at a cryptocurrency exchange, and if you prefer, you can even buy coins at Stake using Moonpay and Swapped.com.
Promotions, Stake VIP Club & Responsible Gambling
When you’re using DOGE at Stake, it’s important to follow our Stake Smart guidelines and bet responsibly. Make sure you check out our exciting promotions too, if you want to have fun while spending less.
We’ve got casino bonuses and sports betting promos, as well as the excellent VIP Club. Level up your account to earn bigger rewards, including rakeback, reloads and our own VIP host.
