NBA Team to Accept Dogecoin for Payments

Cryptocurrency Dogecoin is not only posting strong price gains, but its adoption has increased in recent months as well. BitPay, a US-based crypto Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company, announced the rollout of Dogecoin payments for merchants and consumers. The company mentioned that Dallas Mavericks, an American professional basketball team, will be the first team to accept Dogecoin.

According to the official announcement, the NBA team will accept Dogecoin for tickets and merchandise. Dallas Mavericks became the first NBA team in 2019 to accept Bitcoin as a method of payment for match tickets and merchandise. Mark Cuban, an American billionaire and the owner of Dallas Mavericks, remained vocal about Bitcoin and other cryptocurrency assets in the past.

“What we are seeing with Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term today is just a proof of concept. As tech continues to get better, cheaper and faster, there will be new applications and maybe even something that supersedes what we know as crypto today,” Cuban said on Twitter.

The NBA club is currently using the services of BitPay to process all cryptocurrency payments including top digital assets like BTC, BCH, ETH, USDC, GUSD, PAX, BUSD and now Dogecoin.

Adoption of Dogecoin

The acceptance of Dogecoin has increased in the last few months. CoinFlip, one of the largest Crypto ATM providers in the US announced earlier this week that DOGE is available at the company’s network of more than 1,800 ATMs across 45 states in the US. The price of Dogecoin is currently hovering at around $0.049, which is up more than 1,000% since the start of 2021.

“The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for one very important earth-shattering reason because we can, we have chosen to do so. We have chosen to do so because sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of PR. So, we will take Dogecoin, today, tomorrow and possibly forevermore,” Cuban mentioned in the official press release.