What originally started as a meme and Twitter-fueled joke has now become one of the most popular cryptocurrencies.
Dogecoin took the world by storm in 2013. There was no escaping the snide smile of the crypto’s mascot, the Shiba Inu. People were curious to see how the currency would hold up against Bitcoin.
Bitcoin is another type of popular cryptocurrency, created in 2009. When Bitcoin launched, Americans didn’t know how to feel. The country was slowly crawling out of an economic recession at the time.
If it all seems the same to you, we understand the confusion. Crypto is overwhelming, but we’re here to break it down. Check out our guide below where we chat Dogecoin vs Bitcoin.
Sophistication vs Meme Culture
Much of the differences surrounding Bitcoin and Dogecoin come from the attitude in which they were created.
Bitcoin is the original cryptocurrency and sparked a digital revolution. The elusive creator has yet to make him/herself known, despite being able to see the success Bitcoin has achieved.
Dogecoin, on the other hand, was created first as a joke. But the public was much too excited to invest in the joke, and Dogecoin blew up!
When comparing cryptocurrency types, Bitcoin is often regarded as the more sophisticated brother of the 2. Dogecoin is the goofy, friendly brother that just enjoys hanging out.
We’ll get into some of the finer details now.
Transaction Fees & Times
One of the major Dogecoin benefits is fast transaction processing times. Bitcoin is extremely popular, causing it to often become congested.
Dogecoin’s transactions only take a couple of minutes to complete, meaning it only takes a couple of minutes to add new transactions to the blockchain.
As far as transaction fees, Bitcoin allows you the option of a speedier transaction but at a higher price. Bitcoin tends to have higher transaction fees in general.
Supply
Believe it or not, there’s a cap to the number of available Bitcoins in the world. There are 21 million coins in total.
With Dogecoin, there’s no limit. You get a coin! And you get a coin!
Proof-of-Work Method
When comparing Dogecoin and Bitcoin benefits, you’re guaranteed to see a lot of overlap. The creators of Dogecoin utilized a good-sized chunk of Bitcoin’s source code.
Both currencies use a proof-of-work method for consensus. This means that specific people who are referred to as miners, set out to validate transactions once a block on the blockchain becomes full.
Think of it as a group of people using fancy computers to solve difficult math problems.
Your Ultimate Comparison Guide: Dogecoin vs Bitcoin
People were skeptical about the success of crypto technology. Now, there are thousands of different types of crypto available, including Dogecoin and Bitcoin.
If you’re interested in investing but need a quick comparison, keep the above Dogecoin vs Bitcoin guide close. Or, diversify your portfolio by investing in both!
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