Online Businesses Ready to Start Accepting Dogecoin?

It wasn’t long ago that business purchases with a QR scan that transfers cryptocurrency from wallet to wallet sounded like science fiction. Today, it’s becoming a reality.
Consequently, more established businesses are now accepting cryptocurrencies such as Bitcoin and Ethereum as forms of payment. Dogecoin — a cryptocurrency that started out as a joke — is also starting to be considered as a form of payment.
More people began purchasing Dogecoin as all major cryptocurrency payment providers included it in their services. With a rise in demand from consumers comes an increase in interest from financiers and businesses. However, are online businesses ready to start accepting Dogecoin as a means of payment?
Small Business Owners Should Consider the Merits of Dogecoin
There are currently over 1,300 merchants accepting Dogecoin payments as of the end of May 2021, and that number keeps going up.
There are three primary factors motivating the move:
High Liquidity. Unlike many other deflationary cryptocurrencies, there’s no limit to the number of Dogecoins that can be created. This makes the asset inflationary, leaving room for an infinite supply. That’s likely to affect its value over time, but a solution is already in the works.
Fixed Number of Issued Tokens. A fixed number of coins are issued each year to keep Dogecoin’s value rising. The number of new coins introduced every year is smaller than the number of coins already on the market.
Faster Transaction Speed. Dogecoin transactions are ten times faster than Bitcoin due to one-minute block intervals.
With over 1,000 companies across a wide range of niches accepting Dogecoin as a form of payment, there’s no doubt that businesses are finding ways to adapt to the new payment model. Ever since BitPay — the leading crypto payment processing service for merchants — welcomed Dogecoin on March 4, 2021, more companies have started following their lead.
Why Dogecoin?
In fact, due to a recent increase in demand on behalf of businesses, CoinFlip announced that Dogecoin owners can now buy the asset in cash at more than 1,800 locations. CoinFlip currently operates the most prominent Bitcoin ATM network in the U.S.
No less responsible for the rise in demand of Dogecoin is the attention given to the asset by some of the world’s most influential entrepreneurs, including Elon Musk and Mark Cuban. Thanks to these two billionaires, Dogecoin’s popularity skyrocketed this year. Musk tweeted about taking “Doge to the moon” and revealed that he’s pairing with Dogecoin developers to make the crypto more efficient. This announcement resulted in a 20% jump in a single day.
Today, many third-party vendors offer wallet exchange services to businesses that wouldn’t normally have the resources to get involved with crypto wallets. These services make it easier for those lacking their own wallet to become more accommodating to a broader audience.
15 Well-Known Companies Going All-In on Dogecoin
Hardly any sector of online business remains unaffected whe