Dogecoin PayPal Partnership!! Let Me Know What You Think!
I have some exciting news for the entire Dogecoin community. It has been confirmed that PayPal will soon add Dogecoin as a merchant payment option. PayPal announced that customers will be able to convert their crypto assets into fiat currency and use it to purchase goods and services from over 29 million merchants.
Dogecoin PayPal partnership
Not only this at the start of the quarter of 2021, the company also announced its future plans regarding integrating crypto services to its mobile payment services provider platforms such as Venmo before the end of this year. It is clear that PayPal and other financial technology services would benefit by enabling Dogecoin on their platform.
Allowing Doge deposits and withdrawals on their platform will help brands and give the people control of the people’s crypto. It will help brands such as PayPal to generate more revenue if they add doges a merchant payment option because over time Doge becoming people’s currency and people are really using it for transferring and purchasing goods and services instead of holding and keeping them in their wallet for years and years.
Not only PayPal, it would be beneficial for Dogecoin, too, if it got listed on PayPal and other popular financial services providing platforms. According to the report of 2020 last year, PayPal had active users of more than 380 million. So in this regard, if Dogecoin got listed on PayPal, it will become accessible for more than 380 million users across the globe.
So if Dogecoin got listed on such platform, it would be better for PayPal and also for Dogecoin community and betterment of Dogecoin in the long bull run Dogecoin. The two main cryptos that got listed on PayPal in the first phase are Bitcoin and Ethereum. With such high gas fees and low transaction speed, it’s impossible for low budget investors to do transactions with Bitcoin.
Dogecoin offers high transaction speed for PayPal
Dogecoin offers high transaction speed at minimal network cost, approximately around one dollar. This is a pretty low transaction fee as compared to Bitcoin. Well, the Doge developer’s team and Elon Musk, the CEO of Tesla and SpaceX, once said that working with Doge developers to bring more efficiency and speed up the transaction process on Doge network, the Doge development team is working on improving scalability to the Dogecoin network so that Doge network users can be able to process transactions at the minimal transaction cost and high transaction speed.
We are pretty sure in the future more businesses will start accepting Dogecoin as a payment option. That day is not far away when every business will accept Doge as a payment option, getting recognized on the large scale will force and attract big tech financial services provider platform to recognize and list Dogecoin as a merchant payment option on their platform.
A petition PayPal to accept Dogecoin
Regarding the Dogecoin listing on PayPal recently, an anonymous name called F.D. created a petition on Change.org with the title “We want people to make Dogecoin its fifth cryptocurrency to buy, sell and hold”. This petition receives a lot of support from the Doge community and according to the current, no more than 18000 people have already signed on the petition.
While the goal is to get 25000 signatures and currently getting 25000 signatures, the target is looking achievable in the petition after he mentions that “PayPal, we the community of Dogecoin, to request you to add us as the five cryptos on your platform”.
How much positively it will impact Dogecoin price?
The soaring demand for Dogecoin will drive PayPal to list Dogecoin as a merchant payment option. We’re pretty sure soon Doge will be available to buy, sell and convert Doge into Fiat PayPal. Listing on PayPal will attract more investors to invest in Dogecoin and also many businesses to connect with the decentralized world of crypto.
This will bring more utility to the coin and increase Dogecoin buying pressure which will lead to the price inflation of Dogecoin. With such an event as the PayPal listing, which will happen sometime this year, Doge has the potential to cross at least its recent all time high price, which is around 75 cents before the end of this year.