The term cryptocurrency has taken the table by storm. From experienced investors to amateurs, all are quite fascinated with the term crypto. When it is about two crypto, bitcoin has stolen the attention being the first one in the crypto market. Cryptocurrency Volatility seemed to follow in the footsteps of bitcoin. Though both are popular, yet they hold some differences so let’s follow the below content to understand what are those at once.
Purpose of bitcoin and dogecoins
Talking about the purpose of these two cryptocurrencies, note that both have been there in the market with their purposes.
Bitcoin to be honest was designed for diligent investors. The value is more for the investors of the currency who like or wish to invest in it. On top of that, it eases the transaction process as well.
Now coming to dogecoin its invention was to challenge the soaring demand of bitcoin. Buying Dogecoin is more of a fun purpose and memes can be found related to the same.
The issue of the coin
Issuing coins is also again an important thing to consider when it comes to cryptocurrencies. Bitcoins come with certain limitations and the ceiling of the money is fixed which can hit up to 21 million. Now here as the demand for the money rises the price will also rise with time.
Now coming to Dogecoin you don’t have to worry about that because here the amount is infinite. That means coins issuance is unlimited here. Though Unlimited still it has reached a hike in the year 2021.
Market capital of bitcoin
The capital value of bitcoin in the market is almost 47 times more than compared to the market capital value of dogecoin.
Risk
Talking about the bitcoins investment in such is quite risky. But if you go through the details, you will see that dogecoin is riskier than bitcoin. Note that traditional investors will love to invest in bitcoin rather than dogecoin. However, those ready to bear more risk can go for the dogecoins. On the whole whichever you choose to invest make sure that you are aware of the risk associated with each of the cryptocurrencies,
Prestigious
As per investors bitcoin is more prestigious on the other hand dogecoin is a meme cryptocurrency.
Times of transaction
Coming to the transaction time, congestion in the bitcoin network is more therefore you can expect a delay in the transaction time.
Compared to bitcoin , dogecoin takes less processing time. On average dogecoin takes only 1 minute to process a transaction. Mathematically the dogecoin is 9 times faster compared to the bitcoin.
Fees of transaction
The transaction cost of bitcoin is more in comparison to dogecoin. As per February 2022 report, the fee for processing bitcoin was from $1.25 to $5.00. Now note that the transaction fee of the dogecoin is from $ 0.10 to $1.75.910.
The basic difference between the bitcoin and dogecoin
Symbol of bitcoin and dogecoin
The symbol of bitcoin is BTC and dogecoin is Doge
Year developed
Bitcoin came into the year 2009 while Dogecoinwas invented in the year 2013
Approximate market value of bitcoin and dogecoin
The approximate market value of bitcoin is 1.02 trillion while the market value of dogecoin is 41.4 billion.
Number of issued coins for bitcoin and dogecoin
The number of issued coins for bitcoin is 18.69 million while the dogecoin is 129.24 billion.
Final say
Thus, the above said content elaborately discusses the difference between Dogecoin And Bitcoin. Therefore,it’s up to you which one you like to invest in because both of them come with exciting features. However, investors must keep in mind that the price of bitcoin will escalate sometime in the near future. But that does not mean that the return of investment from dogecoin is less. If you have looked through the market surveys, you will find that yes, the market of dogecoin seems impressive as well. Therefore if you are willing to invest in bitcoin, you can check out the trending app called Bitcoin Era. New and old traders are really liking this app.