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Dogecoin is better than Bitcoin for transactions, says Elon Musk
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cnbctv18.comElon Musk, Tesla and SpaceX boss, has always backed Dogecoin, a cryptocurrency based on memes. A couple of months back he revealed he had invested in Dogecoin besides Bitcoin and Ether.A former fan of Bitcoin, Musk says that Dogecoin has an advantage over Bitcoin and other cryptocurrencies and believes it to be the most promising cryptocurrency for trading.Bitcoin transactions have a lower transaction value and an increased cost per transaction.
It is appropriate as a value store, at least on a spatial level. Musk, however, said that Bitcoin is fundamentally not a good replacement for transactional currency.The billionaire said that despite its origin as a prank coin, Dogecoin is better suited for transactions.
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