Doge vs Bitcoin: what should I choose for a beginner?

by James · December 9, 2022

Doge vs Bitcoin what to choose for a beginner

Table of Contents

Doge vs Bitcoin: what should I choose for a beginner?

Being a beginner in any business takes work because you have to spend a lot of time learning the basics that others have known for a long time. 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 mechanism of buying and selling digital money – go to DOGEBTC exchange 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 the type of crypto with a reasonably long history and positive expert reviews. Dogecoin and Bitcoin are among the most popular coins, so they are worth watching closely. 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 probability of a sharp increase in value. Let’s take a closer look at these digital assets to understand which is better to buy for long-term and short-term earnings.

Key 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, increasing capitalization and many fans around the world.

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 set 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 buy 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 price.

In addition to its 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 $1 billion a few years ago.
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 generating DOGE uses the Scrypt protocol, which is easier to crack.
The speed of operations. Processing a BTC block takes about ten minutes, and a mem coin only takes 60 seconds; miners receive more rewards (while the asset price drops).

Does it make sense to invest in meme cryptocurrency?

In fact, with a competent approach to crypto-investing, the portfolio must contain different types of tokens; that is, both BTC and DOGE are worth buying. The main issue is acquisition – if the coins are needed for the exchange, a memcoin is preferable, but for storage it is better to use a more stable and highly profitable Bitcoin.