Is Dogecoin better than Bitcoin?

Well, this question would have come as a satire to the Bitcoin stalwarts. Whereas Bitcoin stands today at a value of more than $40,000, Dogecoin is 0.12 USD dollars. so how can we make a comparison of the two.

It all started with the interview of Elon Musk in 2021. Well, he mentioned that dogecoin would be better than NFT Edge App in the future. after this announcement, the price value of dogecoin increase increased, and it also started to get much more attention. In addition to the fluctuation in the value of dogecoin, this sudden price rise also indicates the volatile nature of the cryptocurrencies. Coming back to our question, is dogecoin really better than Bitcoin? Let's try and find the answer to the same.

What is Bitcoin?

Let's unfold the basics first and understand what Bitcoin is. It is a decentralized cryptocurrency as we know and operates on direct interaction between two parties, which lacksthe need to depend on a 3rd party to validate and verify the transaction. 

Bitcoin operates on the blockchain, a decentralized technology that offers all its features of time stamping, provenance, Data security, decentralization and data immutability. This makes Bitcoin a prosperous currency for the future. However, many people still consider it to be a volatile currency that may lose its significance in the times to come. Also, the higher value of Bitcoin makes it difficult for low key investors to own some shares of it.

When we compare it with other cryptocurrencies like Ethereum and Dutch coins, the value is much higher. So, for those who cannot put in a lot of money, they find dogecoin to be a better option as compared to Bitcoin.

What is Dogecoin?

It was introduced by Jackson Palmer and Billy markers. They came up with the payment system name joke, which was actually a satire on the wild speculation on which the cryptocurrency markets operate. You can say it was the first meme coin and its unique sign of a dog grabbed a lot of attention. While the pricing of dogecoin still remains on a very low side, Elon Musk's interest in cryptocurrency bit dogecoin made it very popular.   

Dogecoininvestment for the future: is it a good decision

The transaction fee of dogecoin $0.65 (Rs 50 approx.) per transaction. But when we compare it with Bitcoin, then it costs more than $15 (Rs 1,149 approx.). and after Elon Musk announced that Tesla would accept dodge 0.4 merchandise on a test basis, it led to the rise of dogecoin prices by 24%.

Many traders are now also investing in dogecoin. This also signifies how the price volatility of the crypto market operates. 

Comparison of the difference between Bitcoin and Dogecoin

Tips for the traders who want to invest in Bitcoin or Dogecoin

No matter which crypto you want to invest in; be it bitcoin or dogecoin, choosing the right crypto exchange platform plays a significant role. There are number of options, and you can pick the best one after scrutinizing them on the following mentioned parameters:

1.         the credibility of the platform 

2.         number of users present on the platform 

3.         the reviews and the ratings 

4.         easy to use interface 

5.         transaction fee 

6.         customer support service 

7.         number of cryptocurrencies 

8.         does the platform offer 

9.         payment mode 

These factors might be very basic but will play an important role when you are actively trading in the crypto market. Platforms like the Bitcoin Era have evolved and shown exemplary performance. You can simply register on this platform to complete the KYC process and the money to begin the transaction. 

Wrapping it up!!!

Before you start your investment move, it is important to know that this market is highly volatile, and its dynamism can sometimes be challenging. But with assertive research, an understanding of the crypto market will become easier. Choosing the right crypto exchange platform will also make trading hassle-free.

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