Doge Bitcoin? Doge and bitcoin are both cryptocurrencies. Bitcoin is known as the world’s largest crypto, it was created in 2009 by the pseudonym Satoshi Nakamoto. While dogecoin was created in 2013, by Billy Markus and Jackson Palmer. Just like other coins, you can buy, store or sell crypto. All you need is to register with an exchange platform to get started.
However, doge and bitcoin are different. Discover the difference between both currencies, find out how to invest in them, and lots more in this article. So, get your sit as you explore this article to the end.
Dogecoin meme-inspired digital currency hits a record high on Wednesday after reaching about 69 cents. Following the price of doge up over 12,000% this year, and with highly influential personnel like Elon Musk talking and tweeting about it.
Dogecoin has become one of the busiest cryptos, along with BTC, which hits a fresh record of more than $63,000 the previous month. The fame of the coin has made people ask questions like “is dogecoin the next bitcoin.”
Difference Between Bitcoin And Dogecoin
Find out the major difference between bitcoin and Built-in Scarcity: according to Coinshare chief Meltem Demirors says “ there are lots of differences between dogecoin and bitcoin.”
She said dogecoin is inflationary, which means that more doge is printed every minute of the day, giving doge a potentially infinite supply.” For instance, “every minute of every day 10,000 more dogecoin are offered. Which equates to nearly 15 million doges per day or over 5 billion doges per year.”
James Ledbetter, editor of fintech newsletter FIN and CNBC contributed says, “bitcoin has a finite supply of 21 million, which creates an in-built scarcity- akin to the way that gold or diamonds are valuable because they are scarce.”
The Scarcity centers on why bitcoin bulls argue for holding the Crypto long-term because it is limited, as demand increases, the price of BTC should as well.
Because of this difference, Demirors says “ I see most people trading dogecoin on a short term basis, which investors hoping to make a quick profit, and choosing to hold BTC over a longer duration.” Dogecoin- Created For Sillies: the premise on bitcoin and dogecoin was created is another difference between.
Bitcoin was released in 2009 with a detailed white paper written by Satoshi Nakamoto, the pseudonymous used by bitcoin’s creator (s). The intention was for BTC to become a prominent decentralized digital currency. BTC is seen as digital gold and a hedge against inflation.
While dogecoin was created as a joke in 2013 by software engineers Jackson Palmer and Billy Markus. Dogecoin was not intended to be taken seriously. It was created for Sillies. Another amazing difference between the two cryptocurrencies is the bitcoin has a well-funded ecosystem.
How to Invest In Dogecoin
To invest in dogecoin, follow the procedure listed below.
- Locate a crypto exchange platform of your choice, by visiting their own official website.
- The next step is to sign up for an account with the Exchange like Binance.
- Go ahead and fund your account.
- Start buying.
With the above steps, you’re good to go.
How to Invest In Bitcoin
Do you want to invest in bitcoin? If yes follow the directions beneath
- Register with a bitcoin exchange or investment platform.
- Get your bitcoin wallet. You can get your BTC Wallet by downloading it from the app store.
- Go ahead and set up your bitcoin wallet. However, you will have to link your wallet to your bank account to enable you to buy and sell coins.
- Buy bitcoin.
- Manage your BTC investments. Make online transactions, do day trading, and many more.
These are the easiest steps to take to invest in bitcoin.