Here’s Why Elon Musk Thinks Dogecoin Is Better Than Bitcoin For Buying

Dogecoin was launched in 2013 by software developers Billy Markus and Jackson Palmer as a fast but “fun” way for Bitcoin.

Billionaire and Tesla CEO Elon Musk believe that the cryptocurrency Dogecoin is better at trading compared to Bitcoin.

In a recent interview with Time magazine, a Tesla and SpaceX official said that when it comes to day trading, Dogecoin is the best crypto coin. At least at the space level, it is suitable as a value store. But basically, Bitcoin does not replace the transaction currency, ”he added, adding that although Dogecoin was created as an absurd joke, it was better suited to trade. “The total flow of purchases you make with Dogecoin that is done per day is far more powerful than Bitcoin.”

Dogecoin was launched in 2013 by software developers Billy Markus and Jackson Palmer as a fast but “fun” way for Bitcoin. It started out as a mockery of the many crypto frauds that emerged at the time, and takes its name and logo from the invitation of Shiba Inu which was distributed a few years ago.

According to Coindesk, Dogecoin’s transaction fee, or “gas money” remains relatively low at around $ 0.65 (Rs 50 approx.) Per transaction, while a single transaction in the Bitcoin blockchain can cost more than $ 15 (Rs 1,149). probably.).

The upgrade comes as Musk announced on Tuesday that electric car maker Tesla will accept Dogecoin for sale on a test basis.

Tesla sells goods such as goods, seat belts, small models of his cars, quad ‘Cyberquad’ bicycles for children and the ‘Cyberwhistle’ named after its long-awaited Cybertruck.

According to Reuters, Dogecoin has dropped by 24 percent to $ 0.195 following news

Tesla CEO is a strong supporter of Dogecoin. This came to light after a recent Twitter dispute between Musk and Binance CEO Changpeng Zhao. The billionaire investor and founder of SpaceX has raised concerns on behalf of Dogecoin owners regarding DOGE’s recent crisis in cryptocurrency Binance trading. The problem has resulted in many wrong dogecoin sales with some users reporting that their accounts have been suspended.

Musk asked Zhao (CZ), “What about your Doge customers?” he added, “It sounds dark.”

Meanwhile, Musk reaffirmed Dogecoin, over Ethereum saying DOGE could be used to make Decentralized Finance (DeFi) easily accessible to everyone. DeFi systems, is a blockchain-based financial system that does not rely on financial intermediaries such as brokerages, exchanges, or any other bank to provide services. Such platforms allow users to store their Ethereum-based crypto assets