The global cryptocurrency market is expected to be worth more than $11.7 billion by 2030. It’s no wonder people are keen to grab a share of this massive sum, and buying dogecoin or bitcoin could be a shrewd investment.

But what are the differences between dogecoin vs bitcoin? Before you invest in cryptocurrencies, you’ll want to know about the advantages and downsides of each one. That’s why we’re going to look at the main variations between each of these popular types of crypto.

Read on to learn more.

Cost

Cryptocurrency prices fluctuate, making it difficult to predict what price bitcoin or dogecoin will be on any given day. However, it’s fair to say that, in general, bitcoin tends to be significantly more expensive than dogecoin. This can be important for traders depending on the size of their bankroll.

If you are looking to make money without investing too much at the start, you can find out the current dogecoin price and make a purchase today.

Currency Supply

There can only ever be 21 million bitcoins, meaning the currency becomes more scarce as time goes on. This can lead to an increase in value as it becomes rarer.

In contrast, there is a potentially unlimited number of dogecoin tokens. As long as there is demand for this cryptocurrency, it can hold and massively boost its marketplace value.

Transaction Speed

Bitcoin is the more established cryptocurrency which can lead to heavy traffic on its network. This can result in slower transaction times. However, even at times of peak bitcoin efficiency, dogecoin transactions are still faster.

While estimates can vary, you can expect a bitcoin transaction to take at least 10 minutes, with dogecoin trades taking around 1 minute.

Security

When trading cryptocurrency online, security is of paramount importance. You will be entrusting networks with your personal information, and you want to know your details will be safe. While bitcoin and dogecoin use different security features, they are both robust and trustworthy.

The Scrypt system used by dogecoin is more than adequate, but the SHA-256 standard used by bitcoin is of a higher level. Although you may favor the extra security offered by bitcoin, there is a trade-off as the currency is more expensive and harder to access.

Now You Know the Differences Between Dogecoin vs Bitcoin

It seems likely that bitcoin and dogecoin will continue to attract legions of new investors. If you’re keen to trade these types of cryptocurrency you should consider the cost of each option, and decide if transaction speed will be of critical importance. It’s also helpful to think about the security measures offered by each network, and to bear in mind that they have different levels of currency supply.

If you make the right trades at the right times, you could make a considerable amount of money!

While you decide which cryptocurrency to invest in, be sure to check out more of our informative blog posts.