Tesla and Dogecoin

Tesla is enabling customers to purchase branded merchandise using Dogecoin including supercharging stations.

It is currently ranked as the most valuable automotive brand in the world. Dogecoin's transactions are processed faster and at a lower cost than Bitcoin transactions.

The popular cryptocurrency recently got a new lease of life.

What is Dogecoin?

Dogecoin is a digital currency created in 2013 to make cryptocurrency more attractive to the mainstream. The coin's image and name are based on a popular meme depicting a Shiba Inu dog.

Unlike Bitcoin, Dogecoin has a much larger circulation supply than the other most popular cryptocurrencies, and there is no maximum supply for the dog-themed cryptocurrency.

Another major factor behind dogecoin’s rising popularity is its growing list of celebrities who are frequently voicing their support for the Shiba Inu-themed cryptocurrency on social media. 

How Dogecoin and Elon Musk Are Related?

Elon Musk is a fan of the original Dogecoin meme coin. His support, tweets about the coin, and mentions of the coin in the popular media regularly push the price of Dogecoin up on the exchange crypto. For example, after Elon Musk's tweet with one word "DOGE", the Dogecoin exchange rate jumped almost 50%. Moreover, the entrepreneur purchased Dogecoin for his son, who was born in May 2020.

Dogecoin and Tesla Recharging Stations

Elon Musk recently made the announcement that Tesla has begun accepting Dogecoin as payment at its charging stations. A gas station in Santa Monica, California was the first site for the experiment. According to the specialists of Tesla, after the statement of Elon Musk about this innovation, the number of clients at the charging station in Santa Monica has significantly increased. It is also worth noting that the news had a positive effect on the Dogecoin exchange rate.

Dogecoin and Other Tesla Products

Elon Musk also made a statement that Tesla users will be able to buy belt buckles, chargers, whistles, children's ATVs and other goods with Dogecoin. The company warned potential clients wishing to use DOGE that orders placed with meme coin "can no longer be cancelled". In addition, all such shoppings are "final sale" and are not subject to refund, exchange or cancellation.

The store shows price information in both Dogecoin and U.S. dollars. For example, the Giga Texas belt buckle can be purchased for 835 DOGE; the Cyberwhistle is priced at 300 DOGE, and the Cyberquad will be yours for 12,020 DOGE.

Other Dogecoin Prospects

Elon Musk is expected to integrate Dogecoin payments for SpaceX soon. Programmers said they found a reference to Dogecoin in the aerospace company's source code.