Dogecoin currently accounts for around 13% of BitPay’s transaction volume and is the fourth-most popular payment option.

Just talked to my friends at @BitPay, they do the Mavs Doge sales. Not only do the Mavs sales continue to grow, but @Bitpay says they are on track to do 6k Doge transactions in April ! 🚀🚀🚀

— Mark Cuban (@mcuban) April 26, 2021

Dogecoin Is Being Promoted As A Payment Option by Musk & Cuban

Elon Musk and Mark Cuban’s favorite Dogecoin has officially promoted the meme token to be recognized as a real payment utility.

Musk spoke with Dogecoin developers about how to make the cryptocurrency quicker for routine transfers, he tweeted. According to Dogecoin developer Ross Nicoll, Musk’s goal is to make Dogecoin simple enough to use for a cup of coffee.

Working with Doge devs to improve system transaction efficiency. Potentially promising.

— Elon Musk (@elonmusk) May 13, 2021

Meanwhile Cuban stated Dogecoin as “becoming more of a utility in terms of as a money.” Cuban went on to say that he’s been “talking a lot to BitPay” and that the cryptocurrency payments provider is in the process of enrolling additional retailers to take the coin. People are always springing up to be shopkeepers or merchants for Dogecoin,” he added.

Many people find the concept strange, given that Dogecoin was launched in 2013 primarily as a joke, and its GitHub code page has been there forever. However, BitPay data backs up Cuban’s claims about DOGE becoming popular for payment.

BitPay Allows DOGE as an option 

According to BitPay, allow retailers to accept cryptocurrencies as payment, Dogecoin is currently the fourth-most popular cryptocurrency for payments (after Bitcoin, Bitcoin Cash, and Ethereum) and accounts for 12.6% of total transaction volume. DOGE was just 3.3% of volume in March, and 7.8% of traffic in April. 

“It’s fast become a valuable cryptocurrency for us,” says BitPay CMO Bill Zielke. “There is usefulness in it since it has risen so quickly in our network. And the fact that retailers are witnessing thousands of Dogecoin transactions suggests that it has been used. It also has benefits that Bitcoin or Ethereum do not have at the moment: Dogecoin offers low transaction costs. And when you combine a vibrant community with affordable costs, you have a winning combination. I anticipate it will continue to expand and that its utility will increase.”

Microsoft, AT&T, Camping World, and WeWork are just a few of the well-known consumer businesses that accept BitPay.