Bitcoin VS Dogecoin: Which is the Better Cryptocurrency to Buy? | Dogecoin News

bitcoin versus dogecoin which is the better buy cryptocurrencies are hot investments once again with many high-profile investors and companies buying in elon musk alone spent much of the early 2020s on twitter promoting two crypto projects in particular bitcoin btc and dogecoin doge and he's not the only one with prominent billionaires banks and brands finally accepting and supporting crypto assets but when it comes to bitcoin versus dogecoin which is the better cryptocurrency hi welcome to crypto doge news where we publish the most up-to-date cryptocurrency news every single day but before we go any further make sure you hit the like button subscribe to the channel if you haven't already and ring the notification bell so that you get notified every time we upload a new video now let's get right into it the term cryptocurrency is used to describe a broad range of decentralized digital assets while the thousands of crypto projects differ in programming and execution what they all have in common is the distributed or decentralized digital ledger and strong cryptographic techniques used to secure the transactions bitcoin and dogecoin are both cryptocurrencies in that they are meant to be used as a form of payment they use blockchain technology to decentralize and encrypt transactions across a network of mining nodes processing them combined bitcoin and dogecoin have over a one trillion dollar market capitalization although the bulk is in the top 100 crypto projects bitcoin is the first making it the apex cryptocurrency it's the most widely accepted as payment while dogecoin quickly gained a cult following based on savvy marketing of the meme mascot used in it bitcoin was initially designed to tear down the traditional banking system it was mostly used in deep web marketplaces and didn't reach mainstream attention until its historic price rise in 2017.

From that point the crypto industry bloomed both cryptocurrency and blockchain became household terms today you can buy hold and sell cryptocurrency through paypal square usaa and more you can be paid in crypto use it to pay tuition or even buy an electric vehicle from tesla in the coming days but to answer the question of which is best we need to dig into the differences between the two now one of the most striking differences between them is that bitcoin has its own blockchain and mining algorithm while dogecoin is merge mining with litecoin this means that litecoin miners can verify transactions and mine two cryptocurrencies at the same time without sacrificing overall mining performance this no doubt increases dogecoin's hash rate thereby making it more secure and decentralized it nevertheless makes it completely dependent on the success of litecoin's mining algorithm the reason why dogecoin merged mining with litecoin brings us to the second main difference while bitcoin has a maximum supply of just 21 million dogecoin does not technically have a max supply in fact it was originally supposed to have a max supply of 100 billion but due to an improper coding on dogecoin's mining algorithm by its creator jackson palmer 10 000 dogecoins are being minted per block giving it an inflation rate of 5 billion doge tokens minted per year because of the huge inflationary rate this makes securing and mining doge tokens unprofitable and as a result the token was at risk of suffering the infamous 51 attack luckily litecoin came to the rescue when its founder charlie lee approached palmer and suggested dogecoin should merge mine with litecoin it's basically a no-brainer especially when you consider that both coins have the same type of mining algorithm which brings us to the third main difference while bitcoin uses the sha-256 mining algorithm dogecoin uses the script mining algorithm this makes the altcoin not only computationally more efficient but in fact it is what allowed it to merge mining with litecoin thereby saving the adorable crypto meme the fourth difference between the two has to do with utility while bitcoin was originally created to be a peer-to-peer exchange of value given its rarity it's now coming more as a store of value deutsche quinn on the other hand was created in the words of its creator dogecoin is the spare change you throw in the jar when you get home moreover bitcoin has been rapidly gaining popularity in terms of a source of alternative payment while many businesses have already begun accepting bitcoin as a form of payment for certain goods and services dogecoin has been lagging behind while there are certain businesses that do accept dogecoin as payment it has not met the same success as its parental crypto coin not yet anyway but perhaps the most prominent difference comes from their inception bitcoin was the very first cryptocurrency to come into existence thereby taking the credit for leading the revolution for a fourth industrial revolution dogecoin was created four years after bitcoin and it was only intended to be as a joke against the negative stereotype surrounding cryptocurrencies as a dark market for criminals and money launderers however since its creation the price of dogecoin has skyrocketed making many people obscenely wealthy well who's going to call it a joke when it has created millionaires take globber contesodo for example after reading a reddit thread about dogecoin's potential contest decided to go all in he maxed out his credit cards borrowed money using robin hood's margin trading tool and spent everything he had on cryptocurrency totaling roughly 250 000 then he constantly monitored his phone as dogecoin became an internet phenomenon that surpassed the worth of blue chip companies like twitter and general motors the value of his dogecoin holdings today roughly 2 million dollars that's indeed some great return so you see when it comes to investing both of these cryptocurrencies are pretty exciting though there doesn't seem to be a chance for dogecoin to ever reach the enormous values that bitcoin may obtain one day this is so because today in the market there are so many more dogecoins however like we discussed before this doesn't mean one can't earn some serious rois investing in dogecoin it surely has a record of impressive market runs fueled by its community along with having goodwill overall in fact quite recently dogecoin shot up in value seven times after receiving a gleaming endorsement from some celebrities in a huge popular reddit investment group though this wasn't the first time the coin had a breakout but it is predicted it won't last long in this way dogecoin signifies the goodwill of the crypto community and its underlying goal is to improve the lives of everyone not just the rich for these reasons experts say it's not a bad idea to possess some of both of these coins in your portfolio for instance you may possess bitcoin because it represents pure financial freedom in a breakaway from numerous years of financial manipulation at the hands of government and you may possess dogecoin due to its demonstrations of assisting everyone and bringing a more lighthearted approach to finances dogecoin and bitcoin are indeed considered to be vital to the further adoption of cryptocurrencies but do bear in mind that if you are contemplating the trading of cryptocurrencies it's important to note that both coins are not created equal few features such as bitcoin's limited issuance might cause a currency to be more attractive than others at least over a longer period however in the short term cryptocurrency is driven by sentiment thus even though something is created as a joke and having unlimited issuance it can attack hard if a swell of interest sweeps in so what are your thoughts on these cryptocurrencies and even more importantly which do you believe is the better pie share your thoughts in the comment section below 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