Coinbase announces support for Dogecoin payments

The e-commerce platform of Coinbase – Coinbase Commerce – has announced it is currently accepting payments in leading meme token Dogecoin (DOGE). 

The platform presently accepts seven assets on its platforms. Merchants utilizing Shopify and WooCommerce can likewise now accept Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and Bitcoin Cash (BCH) alongside Stablecoins DAI and USD Coin (USDC). 

Coinbase Commerce enables worldwide merchants to accept cryptocurrency payments from shoppers and convert them into FIAT currencies or alternative cryptocurrencies all through your Coinbase account. 

Coinbase’s move to add Dogecoin to its e-commerce arm follows the posting of DOGE on Coinbase on June 3 alongside exchanging support for DOGE being announced for Coinbase Pro. The posting and recent integrations of assets, for example, Doge is essential for a guide spread out by Brian Armstrong, CEO of Coinbase in a recent blog. 

It is very good news for Dogecoin investors and we are seeing that many investors are started investing in dogecoin a heavy amount.

In the post, Armstrong outlined Coinbase’s arrangements for a decentralized application store, self-guardianship choices, and a strategy to carry more assets to Coinbase faster. He likewise followed up with a second post that covered the “mission, strategy and culture” of Coinbase. 

What is Dogecoin? 

Dogecoin remains a favorite across the crypto spectrum, with Elon Musk proceeding to show his help for the meme coin. He confirmed his ownership of Dogecoin while speaking at the “B-Word” event – a live conversation about Bitcoin between Tesla and SpaceX billionaire Elon Musk, Twitter’s Jack Dorsey, and significant Tesla and Bitcoin investor Cathie Wood. Musk has additionally confirmed his help for a suggestion that plans to altogether reduce exchange fees of Dogecoin. 

At the event, Musk confirmed that he possesses Bitcoin, Dogecoin, and Ethereum while additionally unveiling that SpaceX likewise holds Bitcoin. Moreover, Musk said that Tesla would “doubtlessly” begin accepting Bitcoin as payment for vehicles once more. 

Tesla said in May that it would at this point don’t accept Bitcoin for purchases following concerns over the environmental effect of mining. 

“In all probability, the answer is that Tesla would resume accepting Bitcoin,” he said during yesterday’s event. 

Musk likewise disclosed that he is taking a gander at the percentage of renewable energy used before settling on a decision, adding “I wanted a little piece more due diligence to affirm that the percentage of renewable energy usage is undoubtedly at or above half and that there is a trend towards increasing that number, and assuming this is the case Tesla would resume accepting Bitcoin”. 

Following Musk’s comments at the event, Bitcoin rallied by 6%, Ethereum a further 10.6%. Dogecoin rallied by 34% between July 20 and July 22, indicating that the market anticipated Musk mentioning Dogecoin at the Bitcoin-focused event.

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