Doge vs Bitcoin: what to choose for a beginner?
Being a beginner in any business takes work because you have to spend a lot of time learning the basics others have long known about. It is challenging when financial well-being directly depends on the decisions made, as is the case when investing in cryptocurrencies. There is nothing complicated in the buying and selling digital money mechanism – go to the DOGEBTC exchanger and enter the transaction data. Another thing is the choice of assets for investment because there are wide varieties, and each coin has its characteristics and prospects.
When searching for an investment tool, it is advisable not to take risks but to focus on those types of crypto with a reasonably long history and positive expert assessments. Dogecoin and Bitcoin are among the most popular coins, so they are worth paying close attention to. BTC is the first and most expensive crypto. Therefore it is interesting for every investor, but the meme token attracts with its unusual creation and the likelihood of a sharp increase in value. Let’s take a closer look at these digital assets to understand what is better to buy for long-term and short-term earnings.
Essential differences between BTC and Dogecoin
Bitcoin 2022 celebrates its 13th anniversary and is deservedly considered one of the most profitable digital assets in the world. The project has a developed infrastructure, growing capitalization, and many fans worldwide.
DOGE appeared in 2014 and initially seemed like something other than an exciting investment object. It was created under the inspiration of a meme and was conceived as a way to spread information about cryptocurrencies. But gradually, the price of the coin began to grow, rising to 0.15-0.20 dollars (the maximum value was fixed at 0.7 dollars). Unfortunately, meme crypto cannot be used as actively as Bitcoin, but it can be used as a niche hobby or to purchase other tokens such as qar to domi. The exchange of DOGE to BTC can be done almost instantly using a specialized online service, and it is best to choose an exchanger like LetsExchange, where there is an automated search for the best rate.
In addition to the purpose and cost, BTC differs from Dogecoin:
- Market volume. Bitcoin covers the bulk of $867 billion (before the fall in May), and the meme crypto just passed the $1 billion mark a few years ago.
- The number of coins. As BTK is mined, the supply decreases due to the limited number of coins, while Dodge can be mined indefinitely.
- The level of security and technical support. Although the meme-inspired cryptocurrency is created based on Bitcoin, the level of transaction security in these projects is fundamentally different. Transactions with BTC are considered reliable thanks to the SHA-256 algorithm, while when generating DOGE, the Scrypt protocol, which is easier to crack, is used.
- The speed of operations. Processing a BTC block takes about ten minutes, and a mem coin takes only 60 seconds; miners receive more rewards (while the asset price decreases).
Does it make sense to invest in meme cryptocurrency?
In fact, with a competent approach to crypto-investments, the portfolio must contain different types of tokens; that is, both BTC and DOGE are worth buying. The main issue is for acquisition – if the coins are needed for the exchange, then a mem coin is preferable, but for storage, it is better to use a more stable and highly profitable Bitcoin.