This document compares the DCT (Discrete Cosine Transform) and DWT (Discrete Wavelet Transform) image compression techniques. It finds that DWT provides higher compression ratios and avoids blocking artifacts compared to DCT. DWT allows for better localization in both spatial and frequency domains. It also has inherent scaling and better identifies visually relevant data, leading to higher compression ratios. However, DCT is faster than DWT. Experimental results on test images show that DWT achieves higher PSNR and lower MSE and BER than DCT, while providing a slightly higher compression ratio and completing compression more quickly.