Ethereum or Dogecoin: Which One is Best?

Despite being created on the same blockchain technology, every cryptocurrency differs from the other in terms of many factors. From price value, risk, volatility, privacy to use, not every coin produces the same share of profit in the same period. It won’t be wrong to say that Ethereum or Dogecoin are giving serious competition to each other these days. Being the second-largest cryptocurrency in market capitalization, Ethereum is under threat from the exponentially growing Dogecoin as said by the bitcoinformula.net.

The new yet hyped Dogecoin came as a result of some funny tweets shared by two software engineers in a conversation over the internet. But, Ethereum has been a highly speculative investment when it comes to succeeding Blockchain platform. Moreover, Ethereum has tremendously changed the way payments used to be placed in the financial space. With that said, let’s find out which one is best to make incredible profits while keeping you on the safer side.

What is Ethereum?

From my knowledge, Ethereum is regarded as a successful technology on which cryptocurrency makes better, faster, and efficient payments. The second most successful cryptocurrency has experienced a major spike in value by 1400%.

Created by Vitalik Buterin, Ethereum is today breaking records for ensuring complete transparency, security recording transaction data, and whatnot. With a market capitalization of $316 billion and a current market supply of 115.6 million, Ethereum makes the decentralized blockchain network more powerful.

What is Dogecoin?

Created as a copy of Bitcoin, the basic purpose of Dogecoin is to give a more easy and simple approach through the popular blockchain platform. Since there was no strong foundation for Dogecoin, it has not proved much success in any space rather gaining attention from various crypto investors. You may call Dogecoin an experiment in cryptocurrency that has created a wave of entertainment in the crypto industry. The meme currency is often featured with a Shiba Inu Dog that is a highly low-value cryptocurrency.

Which one is best?

Ethereum has a comparatively higher mining reward of 10,000 crypto coins than Dogecoin, with a mining reward of 2 tokens. Both Ethereum and Dogecoin are increasingly growing in coin supply and popularity. However, Ethereum acts as a greater store of value when it comes to securing payments and generating high profits.

It is today one of the largest cryptocurrency and comes in the top 10 successful cryptocurrencies, with millions of traders actively participating daily. Also, Ethereum has a limited supply of coins compared to Dogecoin with an unlimited supply of coins. It has an individual price coin of around $0.32, far beyond Ethereum, which is steps closer to beat Bitcoin.

Dogecoin is nowhere to compete with any cryptocurrency but didn’t even exist when it was first discussed. It was made to target Bitcoin for its time-consuming transaction and other regulatory issues. But the hype over social media about Dogecoin made it today’s most trending cryptocurrency with no real purpose to serve in the crypto industry. However, the unlimited utility and lowest price value never made Dogecoin into the list of efficient cryptocurrencies. The meme-currency is competing tough with Ethereum and other cryptocurrencies solely in popularity.

To decide which cryptocurrency you should choose, it’s important to do your share of research. Like everything, Ethereum and Dogecoin both have their share of advantages and disadvantages that you must consider when investing in any cryptocurrency. Predictions say that Ethereum will soon beat the trillion-dollar market capitalization if it continues to grow like this. It is the most accessible, easy to use, and simple to manage cryptocurrency for making transactions safe yet efficient.

Conclusion:

Whether you’re a novice or expert in playing with cryptocurrency, you can go wrong anytime when making decisions about cryptocurrency. You can try Dogecoin to play safe with cryptocurrency at the start or practice your trade skill, but you can never make profits from Dogecoin, at least for now, when it is worth over a few pennies.

While jumping on the cryptocurrency bandwagon, it’s important to choose a coin that has the most successful trade history. Well, we are very sure that Dogecoin will continue rising till the hype and popularity are present between the crypto freaks- sharing memes over social media.

 

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