Dogecoin (DOGE) joins the Coinbase Commerce portal - The Cryptonomist
Dogecoin, Elon Musk’s favourite crypto, has become the seventh crypto accepted on Coinbase Commerce, Coinbase’s e-commerce portal.
much payment. very commerce. 🐕
Just a quick blast to let you know we’re now accepting commerce payments in Dogecoin (DOGE)!
— Coinbase Commerce (@CommerceCB) July 21, 2021
“much payment. very commerce. Just a quick blast to let you know we’re now accepting commerce payments in Dogecoin (DOGE)!”
The US-based platform that facilitates crypto payments for merchants, in addition to Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), USD Coin (USDC) and DAI, now accepts payments in DOGE.
Launched in April 2018, Coinbase Commerce allows websites making online sales to cash crypto directly into their wallet. Not only that, the app is able to pay a merchant regardless of whether the consumer is using Coinbase or another crypto wallet.
This new integration on Coinbase’s e-commerce platform will allow users to convert their DOGE payments into fiat currencies, such as US dollars, euros and sterling, or into USDC stablecoin, without leaving the portal.
This simplified procedure was introduced in October 2020 and allows business users to benefit from crypto as a payment method.
Dogecoin as a payment system for merchants
The meme crypto, which has remained among the top 10 cryptocurrencies by market capitalization, is now also a payment system for merchants in its own right. Compared to traditional payment systems, the payment system offered by Coinbase Commerce allows merchants to use crypto with a more convenient fee system.
Recently, the Coinbase platform was integrated as a payment solution on the famous luxury auction site Sotheby’s.
In another step bringing the utility of cryptocurrency mainstream, @Sothebys announced their collaboration with Coinbase Commerce to allow bitcoin and ethereum as payment for the purchase of a Banksy image at their May 12th evening auction. https://t.co/qpUMybBa6L
— Coinbase News (@CoinbaseNews) May 4, 2021
“In another step bringing the utility of cryptocurrency mainstream, Sotheby’s announced their collaboration with Coinbase Commerce to allow bitcoin and ethereum as payment for the purchase of a Banksy image at their May 12th evening auction”.
Meanwhile, DOGE continues to maintain its position in the market, despite the latest price drops.
Its dedicated influencer Musk has not yet been able to comment on the new step reached by DOGE with his infamous tweets. A likely oversight by the CEO of Tesla, who was invited by Twitter CEO Jack Dorsey to participate in a video discussion with Cathie Wood, the investment rock star, where he expressed his support for the queen of crypto, Bitcoin.
His words “In general, I’m a supporter of Bitcoin” brought Musk’s focus back to the evolution of the entire crypto system, certainly not led by Dogecoin. Not only that, during the conference Musk showed up wearing a T-shirt with a graphic showing the evolution of money: barter, commodity money, metallic currency, banknotes, credit cards and, finally, bitcoin.
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