Dogecoin or Bitcoin: Which Is Safer to Invest In?

By May 17, 2019 Bitcoin Business
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Dogecoin or Bitcoin: Which Is Safer to Invest In?

As at now, a lot of people are stuck wondering whether to pick Dogecoin or Bitcoin. Questions are majorly shaped enquiring what is worth to invest in this year. Over the past years, cryptocurrency has not been at its best. An ordinary crypto investor gets their hope up in two weeks, and in the next one, they find themselves cursing the market. In 2019, a lot of us are trying to find the best market to spend our hard earned cash in the hope of getting high returns.

To start, every investor should know that neither of the coins is fairing on exceptionally well at the moment. Nevertheless, if you want to set aside some of your cryptos, this article will guide you in choosing the best to invest in.

Dogecoin price prospects

The price of Dogecoin (DOGE) at the moment stands at the price for today is $0.00314117 with a 24-hour trading volume of $116,082,681. This means that in the last 24 hours of writing this article, the rate has gone up by 12%. When compared to Bitcoin, DOGE can be described as an inflationary cryptocurrency. In other words, it means that the inflation rate is quite high the same way it has abundant and uncapped coin supply.

As at now, a lot of people are considering Bitcoin since the prices are on the rise. This leaves the likes of DOGE to rot in the shelves as they await for their season to commence. The time could, therefore, be right for investors to invest in Dogecoin as early as now. The worst mistake as an investor would be timorously running after stable coins since their prices will be exaggerated.

DOGE remains to be one of the most sought-after cryptocurrency in the world. It works very well against both the USD and BTC. Although it is still early to predict what might happen by the end of 2019, we would not be far from the truth to say that the currency might turn out to be in the top list of cryptocurrencies, if not at number one. In terms of profits, DOGE is already working well, and an investor will reap something big out of it. DOGE has over the past been voted as one of the most stable crypto coins. Things are not likely to change any different in the remaining part of 2019.

Bitcoin price prospects

Although Bitcoin has shown a tremendous rise in the past few weeks, this does not mean that it will remain this way, especially from previous research on its trends. BTC is a vital cryptocurrency whose rate directly affects the entire market. A forecast is therefore essential if one is to invest in crypto coins. If you invested a lot of Bitcoins several years ago, it is pretty apparent that you have lost lots of money in those years.

Investing in BTC and other forms of crypto coins should be directing a certain amount of money you are ready to lose to risky ventures with the hope that it will bring profits. In case it does not work as planned, you will not be left in the dark counting losses. The best way is to invest for fun knowing that you can lose all of them in a blink of an eye.

It is tough to decide which one is the best to invest since it all depends on someone’s needs. If you invest in these coins to reap profits, it is ok to remember that both are manipulative in the market, whereby you can rise or fall at any second of your investment period. The only way would be to gauge the two and check on what you want as an investor. Either way, you will need to store sensitive files on your investments. To do this, you can ask for professional help to automate backups for your data from ottomatik.io.

Figure 1; https://steemit.com/cryptocurrency/@fbslo/bitcoin-btc-vs-dogecoin-doge

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