There is no denying that Bitcoin is the king of cryptos. Commanding headlines and shaking the world of banking to its core, what Bitcoin will mean for the future of financial services can’t be understated. However, it isn’t just Bitcoin that’s giving the cryptocurrency market life. The world’s leading digital currency – through its record-breaking numbers – has paved the way for a number of other cryptos to gain traction.
Ushering in the day of the dog – or should we say DOGE – Dogecoin has transformed from a “joke currency” into an investable, tradable, and spendable crypto. Just recently BitStarz started accepting DOGE, so players can use the cute and cuddly coin to play some of the best casino games around. With DOGE growing in notoriety and becoming a hotly discussed altcoin, it’s time to take a look at what makes this coin so special. So – without further delay – here’s why DOGE is the crypto to watch in 2018.
What is Dogecoin?
Its name is anything but serious, as Dogecoin – with its Shiba Inu dog logo – was intended to be something silly when it first launched. This peer-to-peer cryptocurrency was born out of an Internet meme and is “meant for Doge lovers”, so it’s safe to that it wasn’t something that was taken particularly seriously. The team behind DOGE shouldn’t be labeled as jokers however, as they’ve impressed with how they’ve marketed it to the masses. Taking on an innovative guerrilla marketing campaign using the characteristics of the Doge meme, it worked to put DOGE in front of thousands of traders, investors, and crypto fans. Partnering images of the famous Shiba Inu with text like “much something”, “very something”, “such something”, and “wow”, you can see that this cryptocurrency combines funny and functional as one.
Speed and silly combine
Given the silly backstory of DOGE, many have asked what the actual purpose of this crypto is. Well, over time we’ve seen DOGE come into its own because of its impressive transaction speeds and low transaction costs. With Bitcoin becoming slower and more expensive – even if the Lightning Network is improving Bitcoin performance – room in the market has emerged for other cryptos that offer a little more fast-paced firepower. Emerging out of Bitcoin’s massive shadow, DOGE is now considered a viable digital currency, as its low transaction costs and fast transaction times make it a pretty appealing crypto option.
A comedic departure from Bitcoin
Every crypto is going to be compared to Bitcoin and DOGE is no different. Both have similar mining algorithms, with the key difference coming about through the level of supply. As you’re probably already aware, Bitcoin has a finite supply, so its blocks will shrink over time, to the point where the coin supply will run dry. Dubbed digital gold for a reason, you can see that Bitcoin’s finite nature is lending itself to its insane price growth. DOGE is different, as it doesn’t have the threat of a finite supply of coins to battle against. Effectively infinite, the developers decided not cap the number of mineable coins, which has allowed DOGE to go from strength to strength in the growing crypto market.
The creators of this crypto have also thrown huge rewards behind the mining process. After 100,000,000,000 have been mined, the block reward will be 10,000 coins – forever. This makes it more viable to mine DOGE over the long-run, as the potential for rewards isn’t going anywhere.
DOGE isn’t Bitcoin and it isn’t ever going to reach the same level. But, there is no denying that it still has the potential to be just as viable – especially when it comes to online casino play.
More uses than you think
If you’re after the “next Bitcoin” or want a crypto that’s going generate a huge long-term profit, DOGE probably isn’t what you are looking for. There are simply better coins on the market for this, which offer a higher quality commodity and thus have greater potential. Plus, DOGE is what it is, it’s not meant to be a market-dominating crypto that will shoot up to tens of thousands in value in a matter of months. In fact, you can argue that DOGE was never meant to experience any growth at all, with its $2 billion market cap being a pretty shocking development in its own right. If you’re looking to turn a small amount of DOGE into something bigger, BitStarz is where you’re going to want to be.
Representing the growing number of Dogecoin accepting casinos, it’s probably the best chance you have of making serious money with whatever DOGE you have.
While it might not carry a high-level of investment value – unless you’re a short-term trader – it’s more than proved itself as a functional currency. What’s really becoming the shining light for DOGE – outside of its casino use – is as a tipping tool. Many have opened DOGE wallets as a means to receive tips on completed jobs, with this small crypto finding its place within today’s “gig economy” without question.
As DOGE becomes more widely known, it’s become much more spendable than ever before. It’s not going to rival Bitcoin in terms of the places you can use it, but the selection of stores seems to be improving. AllGamer.net, eGifter, and – oddly enough – BitcoinShop all accept DOGE payments. DOGE has also become an excellent crypto for donations purposes. For example, DOGE was used to help fund the Jamaican bobsled team make it to the 2014 Sochi Winter Olympics. $80,000 was needed for the cause, with DOGE donations making up nearly $30,000 of that figure.
It’s time to double-down on DOGE!
DOGE started out as a fun coin that was intended to generate laughs more than anything else. But, looking at this coin in 2018, it’s clear that it’s become a crypto with a serious amount of potential. Take it from us, we’ve added DOGE to the extensive list of cashier options here at BitStarz for a reason, as the day of the DOGE is without doubt upon us!