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On the heels of Bitcoin: Focus on applications: Will Dogecoin be used more and more as a payment method in the future? | news

Dogecoin market capitalization at more than $ 33 billion
Dogecoin trading volume increases sharply in Q2
House sale: Crypto investor offers price reduction when paying with Dogecoin

With a market capitalization of more than 36 billion US dollars (CoinMarketCap), Dogecoin has advanced to seventh place among the cryptocurrencies with the largest market capitalization. The Dogecoin price is currently hovering at $ 0.2798 (as of August 11, 2021) – in May of this year it had reached a high of $ 0.7376.

Dogecoin on the rise

Tailwind received the spa currency, which was still trading at around 0.004 US dollars at the beginning of the year, through the WallStreetBets movement and Tesla CEO, among others Elon Muskwho commented positively on Dogecoin several times on Twitter and declared himself a “Dogefather” in April.

But not only the Dogecoin course was able to grow strongly this year. The hype surrounding the spa currency also ensured that crypto exchanges such as Coinbase, eToro and Gemini added Dogecoin to their portfolios. And so Business Insider reported, citing a Coinbase report, that the average daily Dogecoin trading volume on the world’s most important crypto exchanges rose to 995 million US dollars in the second quarter, an increase of 1,250 percent compared to the 74 million US dollars. Dollar from the first quarter.

Dogecoin as a means of payment

Bitcoin today is primarily seen as a way to store value and therefore competes with the safe haven of gold. But the oldest and most popular crypto currency is also finding its way into everyday life as a payment method. As Yahoo Finance reports, the buzzword “Bitcoin is digital real estate” has also been in trend in the recent past due to scarcity, fungibility, liquidity, etc. in social media. In addition, Bitcoin can also be used as a payment method for real estate transactions.

Meanwhile, the Dogecoin community is increasingly optimistic about the potential of the meme coin and is increasingly comparing its favorite crypto currency with Bitcoin. – Trade Bitcoin with Plus 500 – that’s how it works. 72% of retail investor accounts lose money when trading CFDs with this provider. You should carefully consider whether you can afford to take the high risk of losing your money. – The use case of Dogecoin as a payment method could also increase, according to Yahoo Finance.

US homeowner believes Dogecoin will continue to rise

An investor from the USA is convinced of Dogecoin: He wants to sell his house in Saratoga Springs, New York, as the American television station KUTV reported, for 389,000 US dollars and is offering a price discount of ten percent if the buyer should buy it in the meantime the well-known cryptocurrency Dogecoin. The home seller Scott Paul offers payment with seven different crypto currencies – but Dogecoin is his favorite.

“The decision was pretty obvious. I have a house that I want to sell, why not go to the limit to see if I can sell it for DOGE because we have to keep using that currency if we get it mainstream want “, quoted KUTV Paul, founder and CEO of a technology company named Wooly, based in Lehi, Utah.

Paul has already invested in cryptocurrencies and is familiar with the volatility in the market: “I have a really thick skin for declines and I get a little depressed when we go through them, but I’ve been there before,” said Paul. He believes in the future of Dogecoin as a payment method and wants to help the meme coin achieve widespread acceptance. “It’s not a difficult decision, and that’s why I would give a discount now because I believe the value would increase,” says KUTV the house owner again. editorial team

Image Sources: CKA /, Virrage Images /

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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