The latest feature will enable users to purchase gift cards directly on the MyDoge wallet with their Dogecoin balance.
MyDoge, a top self-custodial social Dogecoin wallet, has launched a feature that allows users to purchase their favorite gift cards directly on the app using their Dogecoin (DOGE) holdings. The developers recently included the feature in its latest app update, version 1.6.0, following an announcement last month from founder Alex Lewis.
MyDoge first drew public attention to the development through its official Twitter handle last Saturday, with a reiteration of the announcement on Tuesday. “You can now buy gift cards with Dogecoin,” the team disclosed in a tweet yesterday, advising users to update to v.1.6.0.
You can now buy gift cards with Dogecoin ? ?
Update to v1.6.0 now! pic.twitter.com/9nJf6y48Sb
— MyDoge Wallet (@MyDogeOfficial) December 27, 2022
Numerous users and DOGE proponents have received the development well, with the comment section littered with excitement. Some users have already begun leveraging the feature, purchasing gift cards from several brands such as PlayStation and Visa.
As of press time, the feature is already live, included in the app’s newly-introduced “Shop” section. Brands currently available depend on the user’s location, but notable amongst them are Hotels.com, PlayStation, Visa, Amazon, Xbox, and Binance. Additionally, the team has included an “Earn” feature that rewards cashbacks on DOGE purchases with fiat.
MyDoge’s Growing Adoption
Launched in the beta phase precisely a year ago, MyDoge provides DOGE proponents with a platform they can leverage to self-custody their holdings seamlessly. Over the months, the app has included several features to improve the in-app experience. Some of these features include Dogeverse – a social platform – and an opportunity to buy DOGE with fiat.
As developments pick up, MyDoge has witnessed a surge of user onboarding of late, especially following the FTX collapse of last month, which put investors’ confidence in centralized exchanges to the test. Crypto proponents, including DOGE users, have resorted to self-custodial solutions to hedge against a similar occurrence.