Such transactions: Dogecoin seeing almost double the daily usage of Bitcoin - PC Retail

Such transactions: Dogecoin seeing almost double the daily usage of Bitcoin

Novelty currency is worth almost three million times less than the crypto-currency flagbearer
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Almost twice as many daily crypto-currency transactions are made in Dogecoin than Bitcoin.

The novelty currency, based on the popular Doge meme, sees roughly 90,000 transactions made each day, according to digital currency tracker Bitinfocharts.

In comparison, Bitcoin, seen by many to be the flagbearer for digital currency, sees approximately 54,000 every 24 hours.

The figures equate to about 3,800 and 2,200 transactions made every hour in the DOGE and BTC currencies respectively.

However, the gap between the two currencies’ usage is eclipsed by the difference in their value.

At the time of writing, one Dogecoin is currently worth $0.0003042769 while one Bitcoin is worth $826.33 (£503.6) – making one Bitcoin worth almost three million times more than one Dogecoin.

Despite Dogecoin’s miniscule conversion, nearly $10 million (£6.1 million) is sent every day in DOGE, with an average transaction of $100 (£61).

Bitcoin instead appears to be reserved for large-scale purchases, with $9,844 (£5999) sent on average per transaction. Over half a billion dollars (£300 million) is transferred daily.

Wow.

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