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.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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