Coinbase Commerce Supports Payments With Dogecoin
Coinbase’s e-commerce platform started to accept Dogecoin as a payment method.
The company announced this news on Twitter this Wednesday, stating that the integration puts DOGE beside bitcoin (BTC, +0.75%), bitcoin cash (BCH, +2.08%), ether (ETH, +3.06%), litecoin (LTC, +1.96%) and USDC (+0.04%) as one of Coinbase Commerce’s supported cryptocurrencies.
It will fuel the newly increased meme coins bid for its crypto payments. Coinbase Commerce enables online traders to accept cryptocurrencies.
According to a Twitter announcement, Dogecoin became the seventh cryptocurrency for traders to accept Coinbase’s e-commerce portal payments. The platform recently started to support Bitcoin Cash, Bitcoin, Litecoin, Ether, stablecoins Dai and USD Coin.
An alliance with Coinbase.com allows Coinbase Commerce clients to convert their crypto payments into euros, U.S. dollars, British pounds or even USDC while staying in the e-commerce portal. According to a blog post from 2020, experts predict this kind of integration of Coinbase Prime and Pro accounts will soon be available.
Coinbase Commerce lately decided to take the stage as Sotheby’s payment partner offered Banksy’s artwork during the auction.
At the 15-minute bidding battle, the auction house marked the first time someone accepted a cryptocurrency as a payment option for an artwork. In this auction, bidders were able to pay by Bitcoin or Ether through Coinbase Commerce. Sotheby sold Banksy’s artwork for $12.8 million. However, the auction house has not yet commented on whether the buyer paid with a crypto or not.
At the beginning of 2020, almost two years after its foundation, Coinbase Commerce exceeded $200 million in total sales processed. This was largely due to nearly 9,000 traders using Coinbase for their payment services.
John Zettler, product lead, later said that they always considered Bitcoin the preferred payment method. Certainly out of all of the available cryptocurrencies on the platform. He also added that trader clients often tell them that it was always the crypto they felt familiar with and the one they really trust.