Elon Musk and Mark Cuban push Dogecoin for payments and BitPay data backs them

Elon Musk and Mark Cuban, two of Dogecoin’s most famous fans, publicly forced the token itself to become a legitimate means of payment. Musk spoke with Dogecoin developers about how to make the coin faster for daily payments, as he tweeted and Decrypt reported at length. Dogecoin developer Ross Nicoll told Decrypt that Musk’s goal was to make Dogecoin easy enough to use for a cup of coffee. Cuban said at the Ethereal Virtual Summit, backed by Decrypt earlier this month, Dogecoin is “increasingly becoming a utility in terms of currency.” Cuban added that he has “talked a lot to BitPay” and that the cryptocurrency payment provider is hiring more providers to accept the coin. “People are always emerging to become a Dogecoin retailer or merchant,” he said. The premise seems absurd to many, given that Dogecoin was made purely as a joke in 2013 and the GitHub code page was stagnant for years. But BitPay data backs Cuba’s big talk about rising DOGE payments. BitPay, which allows traders to accept cryptocurrency as payment, told Decrypt that Dogecoin is currently the fourth most popular cryptocurrency for payments (after Bitcoin, Bitcoin Cash, and Ethereum) and has grown to 12.6% of the transaction volume. he says. Just two months ago, in March, DOGE accounted for just 3.3% of the volume and 7.8% of the volume in April. “It quickly became an important currency for us,” said Bill Zielke, BitPay marketing manager. “There is a use there because it captures our network as quickly as it is. It helps, I can say, that traders have seen thousands of Dogecoin transactions. There is also an advantage that Bitcoin or Ethereum does not currently have: Dogecoin has a low cost. And a strong community. When you combine it with low fees, this is a great recipe. I expect it to keep growing and that benefit will increase. Dogecoin Giant Ross Nicoll: What it’s like to work.

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