Firefoot:
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Bilbo did not use the Ring with the intention to dominate others, which also slowed his corruption.
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I think another reason why Bilbo was able to resist and give it up, after 60 years of having it, was because he wasn't aware of the Ring's power. Frodo was aware of The Ring as "evil" and "never put it on," he was aware it needed to be destroyed for Sauron to be defeated, and of course his trek to Mount Doom would also eat away at him. Where as Bilbo, Bilbo used it and saw the Ring as a present, and used it to play pranks, or hide from people, he wasn't aware of The Ring's "evil" so therefor it didn't effect him as much as it did Frodo.