The e-commerce platform Coinbase Commerce , announced that from now on you can pay for your purchases with Dogecoin . Thus, the cryptocurrency meme becomes the seventh token that they accept as a form of payment in transactions.
The ecommerce portal of Coinbase , one of the world's leading cryptocurrency exchanges , already supports payments with Bitcoin , Bitcoin Cash , Ethereum and Litecoin , as well as Dai and USD Coin stablecoins. This select group is now joined by Dogecoin , Elon Musk's favorite digital currency that has gained ground little by little in recent months, largely due to the promotion that the billionaire has given it on social networks.
It should be remembered that Coinbase began accepting transfers with Dogecoin only at the beginning of last June. Therefore, the arrival of the cryptocurrency based on the 'Doge' dog meme at Coinbase Commerce is a milestone.
The integration with Coinbase allows Coinbase Commerce customers to convert their cryptocurrency payments into dollars, euros, pounds or USD Coin (USDC), all within the ecommerce platform. Such an integration would be available soon for Coinbase Prime and Pro accounts.
Coinbase Commerce debuted as a partner at Sotheby's recently, when the renowned auction house first accepted cryptocurrencies as a payment option for a physical work of art.
After a 14-minute bidding battle, the mysterious British artist Banksy's 'Love Is In The Air' sold for $ 12.9 million . These could be paid in Bitcoin or Ethereum through Coinbase Commerce , but Sotheby's did not reveal if the transaction was completed with cryptocurrencies or not in the end.
With more than 8,000 retailers in its catalog, in March 2020 Coinbase Commerce reported that total transactions processed on the platform exceeded $ 200 million .
Unsurprisingly, Bitcoin is the crypto of choice for making payments, as product leader John Zettler says it is the currency that business customers "are most familiar with and trust the most , " he told Coindesk .