2 November 2024
Coinbase Commerce to Accept Dogecoin Payments
Coinbase Commerce, the e-commerce arm of the U.S. based crypto exchange, will now accept Dogecoin payments.
According to Twitter, Dogecoin becomes the seventh cryptocurrency to be accepted as payment on Coinbase's e-commerce portal. Currently, the platform supports Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) along with stablecoins Dai (DAI) and USD Coin (USDC).
An integration with Coinbase.com allows Coinbase Commerce users to convert their crypto payments into U.S. dollars, euros, pounds or USDC without leaving the e-commerce portal. The same integration for Coinbase Prime and Pro accounts will be available shortly.
Recently, Coinbase Commerce took the stage as Sotheby's payment partner during the auction offering Banksy's iconic protest artwork "Love is in the Air". This 14-minute bidding battle is remarked as the first time when cryptocurrency was accepted as a payment option for a physical artwork. Bidders were enabled to pay in either Bitcoin or Ethereum through the partnership with Coinbase Commerce. Sotheby sold Banksy's art for $12.9 million; however, it is still unknown whether the final payment was made with crypto.
In March 2020, Coinbase Commerce surpassed $200 million in total transactions processed with 8,000 retailers using Coinbase for payment services. Product lead John Zettler then said that Bitcoin was the most preferred payment method among the available cryptocurrencies on the platform, adding that "Merchant customers often tell us it's the crypto they're most familiar with and the one they trust the most."
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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