Not so long ago, pretty much the only notable option for traders on the cryptocurrency market as Bitcoin. There are several reasons for that. First, we are talking about the first crypto ever. For those who don’t know, it was launched back in 2009. For a long time, it was the predominant one.
Next, it is still the most valuable one. Just compare its value to the other options on the market, and you will see that no other comes close to its value. Therefore, traders immediately think that this is the best choice they can make when it comes to this sort of investment. But it doesn’t have to be like that.
Thankfully, the market has diversified itself quite a bit, and you can see that there are many more options to choose from. One of these possibilities is investing in Dogecoin. If you want to learn more about it, visit this site. Now, let’s take a look at the reasons why it is a better investment than Bitcoin.
1. It is a Good First Step
As is the case with any sort of investment out there, it is safe to presume that the cryptocurrency market can seem a little bit intimidating. At the same time, it needs to be said that this is a market that doesn’t share too many similarities with other markets out there. It’s a little bit more challenging.
In case you don’t have a proper understanding of it, then we would say that purchasing Dogecoin is some sort of a good first step. The reason is quite simple, it is much more accessible than other opportunities, like Bitcoin. Even Elon Musk referred to it as a “people’s crypto”.
Over the years, Dogecoin has attracted popularity among traders. Plus, a large chunk of traders is complete newbies. So, you can always talk to someone who can provide you with an insight into the crucial first steps. Not to mention that the barrier to entering is quite low when compared to others.
2. Lower Buy-Price
Those who are well-familiar with the movements in the cryptocurrency market know that the current value of Dogecoin sits comfortably at $0.24 for quite some time now. Still, it hasn’t been long since the value was almost three times bigger, at $0.68. Therefore, many see that it has significant potential.
Naturally, this drop has created a lot of room for people to invest in it. However, many are interested in seeing why this hasn’t happened even after all the recent investments. Some experts on the topic have discussed the possibility that the frequent production of the block has influenced the halt in a price increase.
Still, that doesn’t mean that the surge cannot be expected in the future. In fact, many predictions say that the chances for it happening rather soon are rather high. Therefore, taking a look at this opportunity at this moment might be one of the best investments you can make in the foreseeable future.
3. Celebrities Endorse It
We’ve mentioned that the Dogecoin community is large. Still, little is known about the fact that this community has more than a million members from all over the globe. Plus, you might have heard about some celebrities who have endorsed the crypto publicly. There are more than just a few of them.
The most prominent one is certainly Elon Musk. We all remember his tweets about how inevitable it is for Dogecoin to overcome the global financial system. Another celebrity who has talked about it in high praise is Snoop Dogg. The connection he has with Dogecoin is more than clear, due to his name.
The opinions expressed by these people have led to a significant increase in the popularity of this crypto. Just follow the reactions on the market after them and you will understand what it is all about. Some of these reactions were almost instant, a couple of hours after these tweets appeared.
4. Faster Transaction
There’s one thing that unites all cryptos out there. The transactions are quite fast. On average, you don’t need to wait for more than two or three hours for them to be confirmed. Some would say, why is this relevant for Dogecoin and Bitcoin? Well, Dogecoin transactions are much faster.
The reason for this happening is the actual process is much simpler. One significant aspect is that the blocks are created much simpler than in the case of BTC. That’s why they lead to significantly lower power spending, and these transactions don’t take too much time.
5. It is Like a Game of Chance
Last but not least, we would like to discuss the fact that many people perceive Dogecoin as some sort of lottery ticket. What does this mean? Well, it means that traders usually don’t expect much of it. However, pretty much all of them are aware of the fact that it still holds major potential in the future.
That’s why they want to have it, but they don’t want to invest too much. For that reason, many have started to perceive it as some sort of lottery ticket. Everyone thinks about it as some sort of game of chance that will help them amass a significant amount of money by investing as less as possible.
One of the reasons why many people perceive it that way is that its value is nowhere near the levels of Bitcoin, Ethereum, or any other key player on the market. Also, the fees are significantly lower, so you don’t need to worry about any additional expenses that can mount up the costs.
The world of cryptocurrencies is an interesting place. While it offers you numerous possibilities, it might be too much to handle for some people. You certainly need to be aware of some relevant elements. One of the most interesting ones is understanding why Dogecoin is a better solution than Bitcoin. Here, you can take a look at a couple of reasons why this is the fact. We’re sure you will find them interesting.