Is BTC mining inferior to Dogecoin in terms of profitability?
The reduced complexity of BTC mining still did not allow bitcoin mining to surpass Dogecoin in terms of profitability.
According to information published on the service CoinWarz, mining a meme token is more profitable than mining the first cryptocurrency by almost 70%. Moreover, bitcoin is not in the top three most profitable cryptocurrencies for mining.
The leader of the ranking is Verge (XVG), and mining this coin implies the highest income.
Dogecoin also managed to outperform BTC in terms of investment prospects. The bearish trend that has firmly strengthened the market positions nevertheless allows DOGE owners to stay in the black with 56%, while among BTC holders it is a bit less, at 51%.
However, bitcoin is a more profitable asset from a long-term investment perspective, as the meme token lost 84% after the 2021 dump, while the first cryptocurrency lost 77%.
The year 2023 saw both cryptocurrencies rise. Bitcoin added 4%, and Dogecoin added 10%.