Dogecoin as a Payment Option
Why add cryptocurrency as payment option?
I made a post previously where I explained a bit about this virtual marketplace idea I had for some time. It does take a bit of time to setup and really properly refine but I did for a store for myself. This is going to be a summer project and could yield something that improves my income. But more importantly it to demonstrate the effectiveness of these eCommerce platforms.
Well now I will go on to explain how were going to add to the mix a cryptocurrency payment method. This payment option is more specifically using dogecoin. Think of dogecoin as the little, somewhat strange, brother to the more commonly heard of “Bitcoin”.
Certainly a store cannot rely on dogecoin alone but I intend by mid summer or later in fall we will be able to give out prizes and giveaways which include dogecoin transfers. Basically you may be given 10-30$ worth of dogecoin in a contest in the community, those coins can then be used in this store or others like it (ones setup with owners that agree to use dogecoin) as a form of payment. It’s like giftcards in a way, they kind of restrict where you can spend it but they do serve their purpose.
The dogecoins will be given away as a sorta token on the groups, used in the stores that join this project and possibly reused by store owners with other stores in the same manner. It is very possible to sign up to a coin exchange and turn your dogecoin into CAD currency (theres a few steps to make this legit).
In the end, this added feature was added to give people a chance to try this technology. Someday technology like this may become a dominant form of transaction processing in the future, so it never hurts to try it with some free coins.
What is Dogecoin?
Wiki kind of covers what dogecoin is, but for you to fully understand where this meme coin came from you may need to see the youtube video below. It’s not a very serious altcoin, but it’s been around for a long time and is relatively stable (does not increase or decrease in price too randomly in that sense.
This video below is a bit more of a parody and shows its light hearted nature.
After watching that video you kind of get an idea of where this coin is coming from. It’s a very light atmosphere around it, it’s known to have a generous community surrounding the currency. The video below is a bit more technical and balanced. While dogecoin may be silly, its technology is reliable and the coin itself is stable enough to use for this project.