Dogecoin vs Ethereum: Which is Better for Investment?

Today's crypto market offers a wide variety of options, from serious crypto assets to humorous ones, from established to new. However, not all coins are created equal. Each of them has its characteristics, advantages and disadvantages.

Two coins that are quite popular among crypto investors are Dogecoin and Ethereum. These two coins have different histories, goals, and communities. Dogecoin is a coin that was originally created as a joke, but later became an internet phenomenon thanks to the support of famous figures such as Elon Musk. Ethereum is a coin that has a vision to become a global platform for decentralized applications that can change different areas of life.

Then, which one is better for your investment? Let's compare Dogecoin and Ethereum from different aspects, such as how they work, their advantages and disadvantages.

What is Dogecoin?

Dogecoin is a crypto asset created in late 2013 by Billy Marcus and Jackson Palmer, two software engineers who wanted to create a fun and friendly cryptocurrency. Dogecoin's name and logo were inspired by the doge meme, which features a Shiba Inu dog with a cute expression and misspelled text.

Dogecoin is not meant to be a serious cryptocurrency or have a real use case. Dogecoin just wants to be a cryptocurrency that can be used to tip, donate, or share with others on the internet. Dogecoin is also known as a cheap and fast cryptocurrency, due to its low transaction fees and short block times.

Dogecoin uses a proof-of-work (PoW) consensus mechanism, which is the same as Bitcoin. This means that miners have to use computing power to solve complex mathematical puzzles to create new blocks and earn rewards in the form of Dogecoin. However, unlike Bitcoin which has a maximum amount of 21 million coins, Dogecoin has no upper limit and can generate new coins endlessly. This makes Dogecoin an inflationary cryptocurrency, which means the value of each coin will decrease over time.

What is Ethereum?

Ethereum is a cryptocurrency launched in 2015 by Vitalik Buterin, a Russian-Canadian programmer and author. Ethereum is not just a crypto, but also a platform that allows developers to create and run decentralized applications (DApps) that can operate without intermediaries, censorship, or downtime.

DApps are applications that run on top of a peer-to-peer network, consisting of thousands of computers called nodes. These nodes store and verify data called blocks, which form a chain called a blockchain. Blockchain is an immutable digital ledger, which records all transactions and activities that occur on the network.

Ethereum has a native coin called Ether (ETH), which is used to pay for transaction fees and services on the network. Transaction fees on Ethereum are called gas, which is a measure of the computing power required to perform a particular operation. Gas is needed to prevent spam and denial-of-service attacks on the network.

Dogecoin vs Ethereum Comparison: Pros and Cons

Dogecoin

Pros of Dogecoin

- Lower transaction fees compared to other cryptocurrencies such as Ether, Litecoin, Stellar, and many others.

- Dogecoin has strong community support. If the community has taken this far, it might as well take it further!

- Bagi orang yang mencari eksperimen menyenangkan dalam kripto, Dogecoin adalah pilihan yang baik.

Kekurangan Dogecoin

- Dogecoin kurang memiliki kasus penggunaan dalam kehidupan nyata, membuatnya sulit untuk berkembang dalam jangka panjang.

- Dogecoin mengikuti sentimen dan bukan substansi.

- Kripto ini kurang diterima di luar klub penggemar.

Ethereum

Kelebihan Ethereum

• Ethereum lebih mudah ditambang daripada kripto PoW seperti Dogecoin.
• Ethereum has a large support base, thanks to the large number of validators on its network.
• Thousands of validators around the world mean Ethereum is decentralised for real.
• Ethereum never goes down, thanks to the support of its user base around the world.
• Ethereum is the foundation blockchain of thousands of DApps. As of May 2020, there are over 2800 decentralized applications on this blockchain.

 Cons of Ethereum

• Ethereum has no upper limit on the number of tokens produced. Over time, this will lead to inflation as the number of tokens in circulation grows rapidly.
• Gas fees are often an issue, discouraging DApps users as well as traders.
• Currently, Ethereum performs around 30 transactions per second, which is too low; However, Ethereum 2.0 is expected to increase up to 100,000 transactions per second.

Conclusion

Regardless of whether you choose Dogecoin or Ethereum, what is certain is that you will have to comply with more regulations on exchanges. In almost all countries, exchanges must follow Know Your Customer (KYC) or Anti-Money Laundering (AML) procedures. Account holders need to share documents to verify their identity and address.

The crypto market is something unpredictable with a degree of certainty. It is best to continue to consider the fundamental factors of both cryptocurrencies.

How to Buy DOGE on Bittime

You can buy and sell DOGE tokens in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappbeti. DOGE is available on Bittime with DOGE IDR pairing.

To be able to buy DOGE/IDR tokens on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum purchase of Bittime assets is IDR 10,000. After that, then you can make DOGE purchases in the application. Complete Guide on How to Buy DOGE on Bittime.

Monitor the price chart movements of Dogecoin (DOGE), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

What Is Ethereum (ETH) 2.0 and How is It Different from Ethereum

Getting to Know Internet Memes and Their Relationship to Crypto

Dogecoin (DOGE): Definition, History, and How It Works

Dogecoin Whale (DOGE) Moves 332.9 Million DOGE to Binance

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.