The Coinbase Commerce trading service, ad this Wednesday he began accepting payments in Elon Musk’s favorite cryptocurrency, Dogecoin.
“More payments, more commerce, just a short message to let you know that we now accept commercial payments on Dogecoin (DOGE)!”
Specifically, Coinbase Commerce, the American platform that facilitates crypto payments for merchants, in addition to Bitcoin (BTC) and Ethereum (ETH). It also accepts Litecoin (LTC), Bitcoin Cash (BCH), USD Coin (USDC), and DAI. Now, accept payments in Dogecoin (DOGE).
In this regard, the product leader in Coinbase Commerce, John Zettler, commented that among the seven cryptocurrencies listed, Bitcoin is the most used for payments by users.
To better understand, Coinbase Commerce, launched in April 2018, allows merchants from anywhere in the world to accept cryptocurrency payments in a fully decentralized way.
Dogecoin (DOGE) uploads to Coinbase trading portal
To this end, according to a Twitter announcement, Dogecoin became the seventh cryptocurrency for traders who accept payments on the Coinbase e-commerce portal.
According to its website: «All payments facilitated by Coinbase Commerce are fully decentralized and peer-to-peer».
Furthermore, he explains: «This means that the cryptocurrency goes directly from your wallet to a wallet that can only be accessed by the merchant. At no point in this flow does anyone except the merchant, including Coinbase, have access to these funds».
In effect, this new integration into Coinbase’s e-commerce platform will allow users to convert their DOGE payments into fiat currencies. For example, US dollars, euros and pounds, or the Stablecoin USDC, without leaving the portal.
Consequently, Coinbase stated that it plans to do the same integration for the Coinbase Pro and Prime accounts very soon.
Either way, the Coinbase move was hailed as a ‘big step’ by Dogecoin’s co-creator, Billy markus. Who goes by the username Shibetoshi Nakamoto on Twitter.
For its part, current market sentiment, coupled with Elon Musk’s reaffirmation of support, is the perfect recipe for Dogecoin to soar higher.
Sotheby’s Paying Partner
Regardless, Coinbase Commerce has been busy in the market, with a number of integrations and partnerships.
Recently, the Coinbase platform was integrated as a payment solution on the famous Sotheby’s luxury auction site. Auctioning off Banksy’s iconic protest artwork “Love Is In The Air.”
In fact, bidders could pay with Bitcoin or Ethereum. Through the partnership with Coinbase Commerce.
«In another step to bring the utility of cryptocurrencies into the mainstream, Sotheby’s has announced its partnership with Coinbase Commerce. To allow Bitcoin and Ethereum as payment for the purchase of an image of Banksy at its nightly auction on May 12».
In particular, a few months ago, Bitcoin CoinFlip, added Dogecoin (DOGE) to more than 1,800 ATMs in the United States. In other words, US citizens can easily withdraw their DOGE at many ATM stations.
Likewise, Kentucky Fried Chicken Canada accepts Dogecoin, following a tweet from the company months ago. «We accept cash, card and Dogecoin ».
Similarly, SpaceX, Elon Musk’s space company, is already accepting payments with Dogecoin to finance a lunar mission.
Finally, what do you think Coinbase Commerce supports Dogecoin? Let us know in the comment box.
I say goodbye with this phrase from Gene Simmons: «I am not recommending. But yes, I bought a great position in Dogecoin. And yes I’m a Hodler».