Published On: Mon, Oct 15th, 2018

Dogecoin Vs Bitcoin in 2018

Cryptocurrencies are going on a psychic phase in the recent years due to many cryptos pitching in every now and then. Though there are thousands of cryptos in the market, stellar performance is becoming a reality only to few cryptocurrencies like Bitcoin, Dogecoin, Ethereum and Bitcoin Cash. Bitcoin is a cryptocurrency which works on a blockchain technology in the form of electronic cash. Dogecoin was initially started as a joke coin, but in reality, Dogecoin is a peer to peer open-source cryptocurrency which has built a vast community forum. You can buy Dogecoin with a credit card, PayPal, Bitcoin, Cash Crypto and debit card from any of the leading cryptocurrency trading platforms, like CoinSwitch or Coinama. One advantage CoinSwitch has over other exchanges is that, it offers both crypto to crypto conversion and fiat to crypto conversion.

Photo/Pete Linforth

Path of Dogecoin

Launched in the year 2013 inspired by a Japanese dog Dogecoin has fared well in the crypto market. The increasing popularity of Dogecoin has led to an increase in its prices by two-fold at the beginning of 2018 to $2b. Though the value of crypto giant Bitcoin is £270b which is way more than Dogecoin, sceptics of Dogecoin was baffled by the better performance of the joke currency in recent times.

Comparing the giant with the better performing altcoin

Joining hands with US stock car racing back in 2014 has led Dogecoin to expand its community and publicity exorbitantly till 2018. Though the value of Bitcoin is currently more, the number of Dogecoins is way more than Bitcoins. According to the white paper of Bitcoin, only 21 million Bitcoins can be circulated. Therefore circulation of Bitcoins may come to a halt when that maximum limit is reached any time soon. Whereas, Dogecoin does not possess any such limitations in the number of coins that can be circulated or mined. A whopping 100 million Dogecoins have already been mined through computer processing power.

Right now Dogecoin performs 20,000 transactions for one day which seems a lot more pessimistic approach to get Bitcoin better than Bitcoin in 2018. The market capitalisation of Dogecoin is currently $450m. The ease of trading in Dogecoin has made it more popular than never before. One can easily make BTC to DOGE exchange in popular exchanges like Coingecko, Changelly, CoinSwitch and more.

Experts analyse that Bitcoin’s dominance in the market can get tough competition from cryptos like Dogecoins. Since the Dogecoin price chart had previously witnessed a market cap of $1billion, this coin has the immense credibility to move upwards in its price.

Last year the price of Dogecoin stood at $0.00023, and in 2018 its price has increased by 6400% to reach $0.0149. That definitely marks a remarkable achievement from an altcoin. This promises the bright future of Dogecoin over BItcoin in 2018. Till date Bitcoin has been witnessing ups and downs in 2018. Bitcoin had witnessed a boom in December last year where one BTC was equal to $19097. But the expectations of Bitcoin becoming the next big thing has crashed and the price of BTC today is nearly $6000.

Summing Up

Being an altcoin, the popularity Dogecoin has gained over the years is impeccable. This shows that it is a potential competitor and has a brighter future than Bitcoin. The enormous popularity of Dogecoin is earned from five years since the time it was launched in 2013. Enduring interest among investors on Dogecoins can increase the potential performance of the crypto anytime in 2018 than Bitcoin.

Author: Vijay Chinni

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