- Traders moved swiftly, sending DOGE prices soaring by more than 17% in the last 24 hours.
- Paying using Dogecoin does come with a few conditions, however.
Adding Dogecoin as a payment option for various Tesla items has reportedly been done by Elon Musk, a supporter of Dogecoin and CEO of Tesla, according to a frequently asked questions section on the official website of Tesla. Elon Musk mentioned a month ago that Tesla may take Dogecoin as payment for its vehicles in the future, and this comes after that.
In response to the announcement, traders moved swiftly, sending the price of DOGE soaring by more than 17% in the last 24 hours, reaching $0.1629 as per data from CMC. Tesla still hasn’t said if Dogecoin may be used to pay for Tesla vehicles, despite all the talk in the crypto world.
Few Conditions
Electric vehicle maker Tesla, owned by billionaire Elon Musk, has begun taking Dogecoin at Tesla shops. in the “order” page of Dogecoin-eligible items, consumers may find the Dogecoin symbol, as stated in a Dogecoin help page on the Tesla website. Today, May 4, was the most recent change to the page according to Wayback Machine. Dogecoin wallets are the sole way to buy Tesla things.
Paying using Dogecoin does come with a few conditions, however. One can’t combine funds from several Dogecoin wallets into one order, one can’t change or cancel an order once it’s been made, and returns are not acceptable once anyone buys anything with Dogecoin.
Elon Musk pumped up an audience at the Tesla Gigafactory, close to Berlin, Germany, in March about the meme coin. In response to a question on when customers may pay with Dogecoin, Musk said that he believes the firm “should enable that… at some point.”
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