Why does everyone prefer it to bitcoin?

Why is Dogecoin still the preferred payment method for Mark Cuban and Verifone?

Dogecoin is no longer just a meme. After many disappointments on the side of investors, the token bearing the image of the dog Shiba Inu remains the preferred payment solution for billionaires. And it is the cryptocurrency chosen by the number 1 payment solution in the United States.

Billionaires are still fond of Dogecoin DOGE

Billionaire Mark Cuban considers Dogecoin a better payment system than Bitcoin. BTC, digital gold, is now worth $ 50,000. This value is partly due to its qualities as a secure means of payment. But for billionaire Mark Cuban, Dogecoin is better in every way than Bitcoin. And he even has proof!

Just like his billionaire colleague Elon musk, Mark Cuban has set up a means of payment in cryptocurrency on the store of the basketball team he owns, the Dallas Mavericks. On this store, you can buy the products using Bitcoin and Dogecoin. However, Cuban observes that sales in Dogecoin are exploding while those in Bitcoin are weak or even non-existent. The reasons he says are obvious: Dogecoin is technically superior in its use. While Bitcoin is slow and expensive, Dogecoin is fast and economical.

It is for this reason that the Dogecoin DOGE will become a means of payment for millions of consumers. This news comes from the company Verifone. It is one of the world’s leading providers of payment solutions. The company announced:

Extending BitPay’s blockchain payment technology to enable cryptocurrency payments for consumers on Verifone’s cloud, in-store and e-commerce service platforms in the United States

While this news only concerns the United States, the valuation of Dogecoin and cryptocurrencies will have global repercussions. Today, what is holding back the price of cryptocurrencies at the public level is the lack of understanding of the fundamentals. The public fully understands what makes Binance Coin valuable. But it’s more difficult to understand the value of a Bitcoin or a Dogecoin.

The democratization of these crypto currencies as a means of payment should be a game-changer. In particular for the same coin bearing the image of Shiba inu.

How will Verifone democratize cryptocurrency?

Verifone is a payment solution for many merchants. It is therefore a service that is positioned between the consumer and the seller. Set up a payment solution cryptocurrency for a single trader, it is very heavy. We have to take care of the security of the transactions, the security of the wallets. You have to take charge of the whole process.

But if it is a solution already in place that adds payment in cryptocurrency to an already existing offer, then no effort to be made for merchants. On the contrary, they have every interest in taking advantage of this new payment method free of charge, which opens the door to new consumers.

And this new customer flow will add value to the cryptocurrencies that are being used. Why ? because it is precisely this use by many people that gives value to a crypto currency. Democratization increases the value of crypto.

Payment in DOGE without friction

The implementation of this solution by Verifone is made possible thanks to a collaboration with Bitpay. It has many advantages for traders and consumers. We have already seen that the switch to payment in crypto will be free for traders. Another positive point, consumers will go through the same platform as usual, everything will be taken care of via Verifone, as before.

In addition, this payment method will be available in stores and on the web. Consumers will be able to directly connect their private wallets like Metamask or Blockchain.com, which is very popular across the Atlantic.

The set of supported crypto-currencies includes of course the Doge coin ($ DOGE), but also Bitcoin BTC, Ethereum ETH,, Bitcoin Cash BCH, Wrapped Bitcoin WBTC, Litecoin LTC and five stablecoins in USD ($ GUSD, $ USDC, $ PAX, $ DAI and $ BUSD).

Stephen Pair, co-founder and CEO of BitPay, said he was very happy with this partnership:

Verifone’s merchant base includes many of the world’s largest and most well-known brands looking to tap into the growing crypto market.

In the same way Jeremy belostock, Head of Advanced Payment Methods (APM) at Verifone, said :

“Our merchant base is activating several new advanced payment methods (APMs), and the appetite for crypto payments is exploding in 2021. Together, we have solved all of the potential challenges for merchants: there is no conversion risk, implementation costs are low, and consumers will find the payment experience very seamless. ”

Dogecoin should therefore be freed from its negative and disappointing image of the same coin. Its price is still very low compared to that of bitcoin and Ethereum ETH. And yet, the use cases are multiplying, and its adoption is now underway.

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