Coinbase Global officially announced that it’ll accept dogecoin for commerce payments through their Twitter handle.
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
With this Dogecoin (Doge) became the seventh cryptocurrency to get listed on Coinbase Commerce, the e-commerce arm of the US-based crypto exchange, rising 7 per cent higher post the announcement.
With this Doge, the e-commerce arm of the US cryptocurrency exchange coins the 7th cryptocurrency to be listed, growing by 7 per cent after the announcement.
This adds the meme cryptocurrency that started as a joke for several other coinbase trading cryptocurrencies—bitcoin, bitcoin, ethereum, litecoin and USDC.
Yesterday, Elon Musk highlighted dogecoin on the “BW” virtual event, stating it would be ironic to get the established cryptos over the crypt launched as a joke. According to CoinMarketCap, Dogecoin’s market valuation is ~$24.7B versus $597.7B versus bitcoin and $230.7B versus ethereium. This morning dogecoin trading with crypto was ~$0.19, $31.8K, and ~$1,970.
Why It Matters:
Dogecoin is the latest in coinbase trade cryptocurrency.
The coinbase’s e-commerce platform has previously been supported by Bitcoin (CRYPTO: BTC), Bitcoin Cash, DAI (CRYPTO: DAI), Ethereum (CRYPTO: ETH), Litecoin (CRYPTO: LTC), and USD Coin (Crypt: USDC).
Dogecoin has gained momentum this year as a company payment alternative. An increasing list of companies including Sheetz Inc. and Newegg Commerce Inc. accept payments in digital currencies, including Dogecoin. Payments can be accepted online by digital currency.
Price share: Global shares closed at $230.87 on Wednesday at a rate of 2.6 per cent above the price level. Price action:
Dogecoin has grown 6.9% in the last 24 hours
More about dogecoin
The IBM software engineer Billy Markus and the software engineer Adobe Jackson Palmer first created it as a joke. They sought to establish a digital currency peer-to-peer that could reach a bigger population than Bitcoin. They also intended to distinguish it from other coins’ questionable history. Dogecoin officially opened its doors on December 6, 2013, and over one million visitors visited Dogecoin.com within the first 30 days.
The notion has been credited to Palmer. He was then a member of the marketing department of Adobe Systems in Sydney. Palmer bought the Dogecoin.com domain and built a splash screen with the coin emblem and the Comic Sans text. After seeing the site, Markus reached Palmer and began work on developing the money. Marks had created Dogecoin’s protocol based on its proof-of-work mechanism on existing Luckycoin and Litecoin coins. By using scrypt, miners can’t use SHA-256 Bitcoin mining devices and instead need special FPGA and ASIC devices noted for being more comprehensive for mining purposes.
Dogecoin soared in value by around 300% in 72 hours on December 19, 2013, jumping from US$0,00026 to $0,00095, with the daily volume of trillions of Dogecoins. That rise occurred at a time when Bitcoin and many other cryptocurrencies were reluctant to Chinese banks to limit investment in Bitcoin’s economy. Three days later, Dogecoin saw its first major crash by 80%, due to this occurrence and large mining pools that exploited the minimal amount of computer power that was needed at the time for Dogecoin.
