3 important differences between bitcoin and dogecoin, according to experts. The two cryptocurrencies have major differences. Here are three important distinctions between dogecoin and bitcoin.

1. Bitcoin has ‘built-in scarcity’

One of the “most important” is the supply of each.Dogecoin is inflationary, says Demirors, meaning “more doge is printed every minute of every day, giving doge a potentially infinite supply.”For example, “every minute of every day, 10,000 more dogecoin are issued. That equates to nearly 15 million doge per day or over 5 billion doge per year. An unlimited cap on supply can negatively impact value over time. Bitcoin, on the other hand, has a finite supply of 21 million, which creates a “built-in scarcity ... akin to the way that gold or diamonds are valuable because they are scarce,” James Ledbetter, editor of fintech newsletter FIN and CNBC contributor, says. This scarcity is central to why bitcoin bulls argue for holding the cryptocurrency long-term – because it is limited, as demand increases, the price of bitcoin should as well.

2.Dogecoin was ‘created for sillies’

Another difference between dogecoin and bitcoin is the premise on which each was created.

Bitcoin launched in 2009 with an extremely detailed white paper written by Satoshi Nakamoto, the pseudonym used by bitcoin’s creator or creators. Nakamoto’s intention was for bitcoin to become a prominent decentralized digital currency. Bitcoin supporters see the cryptocurrency as digital gold and a hedge against inflation.

Trust in bitcoin has grown with institutional and retail investors during its 12-year run, which led to the cryptocurrency selling for record high prices this year.

In comparison, dogecoin was created as a joke in 2013 by software engineers Billy Markus and Jackson Palmer. Based on the “Doge” meme, which portrays a shiba inu dog, Markus and Palmer didn’t intend for dogecoin to be taken seriously.

It was “created for sillies,” Markus wrote in a recent Reddit post. As a result, dogecoin lacks technical development and isn’t as secure as bitcoin.

3.Bitcoin has a well-funded ecosystem

Though for many years dogecoin was developed by engineers who copied the exact code from bitcoin software, bitcoin has an extensive and well-funded ecosystem that does not exist with dogecoin.

Nonetheless, both dogecoin and bitcoin have both been called risky investments, as cryptocurrencies are highly volatile. In fact, experts warn that investors proceed with caution before buying dogecoin, deeming its rally to be highly speculative.

Source from CNN