Saturday, December 3, 2022
HomeCrypto NewsMarketBitpay 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 Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

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