Friday, May 7, 2021
Home Crypto News Market Bitpay CCO Claims Dogecoin Is Eating Away Bitcoin Dominance In Crypto Payments

Bitpay CCO Claims Dogecoin Is Eating Away Bitcoin Dominance In Crypto Payments

- Advertisement -

According to BitPay commercial director Sonny Singh, Dogecoin is eating Bitcoin dominance in cryptocurrency payments.

Sonny Singh claims that BitPay process more than a billion dollars a year, which proves that people are really willing to spend cryptocurrency.

As of last week, the Doge coin was responsible for 10 percent of all transactions processed by BitPay.

Believe it or not, we are now seeing a lot more purchases from Dogecoin.

Mark Cuban’s basketball team, Dallas Mavericks started accepting Dogecoin in early March. Last week, Newegg An Online Retail Giant Started Accepting Dogecoin As Payment Method.

WeWork and World’s Largest Electronic Music Store Beatport start accepting Bitcoin, Ethereum, and other cryptocurrencies earlier this month.

Singh told that Bitcoin total share of crypto payment on Bitpay fell to an all-time low of 50 percent. Singh says Bitcoin is mostly seen as an investment assets, while alternative cryptocurrencies are used for payments.

In addition to Dogecoin, stablecoins are also becoming extremely popular with BitPay merchants.

- Advertisement -
Mark Brennan
Mark Brennan
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Bitmain Placed An Order With TSMC to Produce 5nm Chips for Crypto Mining

As Bitcoin and Ethereum reach record high prices, miners can increase their spending on equipment, and companies developing ASICs for mining do not waste...

Cardano CEO: May Will Be A Big Month For Us As We Are Now Leading The PoS World

Last few months of Cardano included Updates, upgrades, improvements and implementations. Cardano seem to be pretty much sticking to their roadmap.

Ripple Recent Q1 2021 Reports Shows Increase In Demand For XRP

Ripple released its quarterly report that highlighted the growing demand for XRP in the first quarter of 2021. The company's total XRP sales reached...

NEM Gets Stronger AS NEM Ventures Announced Mentoring & Financial Support Program “Ignite”

NEM Ventures, the investment division of NEM (XEM), announced that it will start the mentoring & financial support program "Ignite". ...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly