Is Dogecoin Better Than Bitcoin?

Dogecoin stepped into the crypto industry at the end of 2013. Most crypto experts were unsure about the success of Dogecoin as a crypto contender due to the rising popularity of Bitcoin. Anyway, all predictions and forecasts related to Dogecoin’s demand turned into jokes as time flew. At present, Dogecoin has a strong ground as a cryptocurrency in the world of cryptos. The value of Dogecoin is supposed to escalate astonishingly over time.

If you’re new to the world of cryptos, you might be confused about which crypto to invest in. At present, every crypto enthusiast has a question- is Dogecoin superior to Bitcoin or not? Let’s find out the answer to this question.

A brief introduction to Dogecoin

Dogecoin is just another cryptocurrency like Bitcoin or Litecoin. According to experts, the purpose behind launching Dogecoin was to humiliate Bitcoin. Dogecoin used to be referred to as a joke cryptocurrency as the concept behind Dogecoin wasn’t as complex as Bitcoin.

Astonishingly, the simplicity of the Dogecoin transactions seemed to rule crypto users’ hearts. At present, the market cap value of Dogecoin is 54 Billion USD. Isn’t the amount jaw-dropping? Well, still, most people question the supremacy of Dogecoin.

Truth to be spoken, Dogecoin is a better option to invest in than Bitcoin or any other crypto. Why? Let’s jump into the next phase of the article to explore that.

Why Dogecoin is a better option than Bitcoin?

Dogecoin beats Bitcoin in multiple parameters. Can you imagine that crypto came out while heavyweight cryptos like Bitcoin and Litecoin were already there, and secured a higher place? Well, it’s hard to believe, but it’s a fact. The following point will enlighten you on Dogecoin’s supremacy over Bitcoin.

Minimum transaction fees

Transaction fees of bitcoin have been a major drawback of this crypto since its initial days. Unfortunately, the fees got escalated over the years, and it’s around 15 USD per transaction currently. Eventually, the transaction fees hike up to 60 USD per transaction if you choose busy hours to make transactions.

On the contrary, Dogecoin transactions merely go up to 1 USD per transaction. So, why won’t crypto users lean forward to Dogecoin? Reasonable transaction fees are the highlights of Dogecoin and that’s going to be an advantage in the long run.

Dogecoin is approximately 10 times faster than Bitcoin in terms of transactions. The average time of Bitcoin blocks is 10 mins which may take up to hours during higher transaction flow. A Dogecoin block, on the other side, can be solved within a minute. Now, do your math and figure out which one is profitable!

Lesser number of lost coins

20% of mined Bitcoins are already inaccessible and lost due to technical issues and the percentage will keep escalating throughout the next two decades. What are the end results of Bitcoin then? Isn’t it worrisome? Dogecoin ensures adding 5 billion coins to the blockchain network yearly. Now, doesn’t it seem like Dogecoin is a securer option to invest in? No matter if you’re a miner, or a general user, it’s normal to be skeptical about Bitcoin’s future. No need to specify that the secure future of Dogecoin helped it get market acceptance and preference over Bitcoin.

Greater stability

Dogecoin eliminated the concept of drastic price fluctuation in terms of cryptos. Already 130 billion outstanding Dogecoins exist in the Dogecoin network. Moreover, 5 billion coins get added to the Dogecoin blockchain yearly, without failure. Tesla can’t compete with this gigantic resource with its 1 billion outstanding shares. Being powered by a stable company like Apple, Dogecoin is more likely to grow and flourish instead of getting extinct in the world of cryptos. Naturally, no blockchain user would like to gamble by investing in Bitcoin while Dogecoin is there.

Increased profit margin

Bitcoin mining is not at all profitable from a miner’s point of view. The rewards of bitcoin mining are not fair enough according to the effort required for mining bitcoins. Who would like to receive marginal rewards after hours of hard work? Also, the graph or bitcoin mining rewards tend to go downwards. Moreover, the Bitcoin network won’t keep on offering rewards once the network contains a total of 21 million Bitcoins. So, where’s the point in spending effort on mining such crypto?

Alongside being stable, 5 billion coins will keep getting added to the Dogecoin network every year. So, the possible profit margins of the network will remain the same. Rather it might increase over the years.

Final words

As you see, Dogecoin beats Bitcoin in almost every aspect. Be it profit margins or convenience, Dogecoin is a better choice than any other crypto. Factually, Dogecoin can be considered the future of cryptos. In fact, Dogecoin has now found interest among a lot of crypto enthusiasts led by Elon Musk. It is expected that it may be accepted as payment for Tesla products.

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