Elon Musk’s Tesla Adds Dogecoin Payments On Its Website, Is X Next?
Release: 2024/05/07 06:04 Reading: 431
- Original author：Bitcoinist
- Original source：https://bitcoinist.com/?p=298519
Tesla Accepts Dogecoin for Merchandise Purchases
Tesla, the American multinational automotive and clean energy company led by billionaire entrepreneur Elon Musk, has announced that it will now accept Dogecoin (DOGE) as a form of payment on select products in the Tesla shop. This move marks another pivotal instance where a major corporation embraces meme-based cryptocurrencies.
Tesla Integrates Dogecoin as a Payment Method
Tesla has integrated Dogecoin into its payments system, allowing users to purchase merchandise when they opt for Dogecoin-eligible products. The automotive company made the announcement on its official platform, providing a comprehensive overview of utilizing Dogecoin for payments, including details on associated fees and requirements.
Payment Details
Customers can use Dogecoin to purchase merchandise through the Tesla shop. Select products will have prices listed in DOGE, making it easier for customers to identify products eligible for DOGE payments. Dogecoin payments may take between one minute to six hours to process and confirm during transactions. Tesla only recognizes and accepts Dogecoin in its digital currency payments, disregarding other cryptocurrencies.
Market Impact
Following Tesla's announcement, the price of DOGE has been moving upward by 0.78%, trading at $0.16, as of writing. It also experienced a 15.48% increase over the past few days, according to CoinMarketCap.
X Payments: The Next Stop for DOGE Adoption?
Speculations are building concerning X Payments, another venture led by Musk, being the next in line for DOGE adoption. The integration of Dogecoin into X Payments could open up new avenues for its everyday use, fostering the adoption of the cryptocurrency and providing community members more flexibility and accessibility when they navigate the social media platform, X.
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DOGE Price Holding Strong
Despite expectations being high, neither Musk nor the X team has disclosed information regarding the potential incorporation of DOGE payments into X's platform. The DOGE price remains strong at $0.159.
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