Tesla now accepts Dogecoin payments for merchandise
Following this announcement, DOGE has risen by 14.43% and is now back in the top 10 cryptos
Tesla, the electric vehicle company, now accepts dogecoin (DOGE) as payment for the company’s merchandise.
If the DOGE symbol is next to an item, then the item can be purchased using the crypto.
For a consumer to buy items using DOGE, they must have a Dogecoin wallet. To use DOGE, the Tesla payment page will display the Tesla Dogecoin wallet "address" in both an alphanumeric and a QR code form for the customer to connect their DOGE wallet to.
For the time being, the only crypto Tesla accepts is DOGE.
Consumers should be aware…
However, Tesla does make it clear that there are certain rules that apply when purchasing in DOGE.
Firstly, it is the responsibility of the purchaser to "ensure" that the DOGE transferred to Tesla is the accurate amount. If the wrong amount of DOGE is transferred, it may be subject to a cancellation but the original amount paid will not be refunded in DOGE.
If the customer just wishes to choose to cancel a purchase made in DOGE, they cannot. Also, Tesla’s guidelines say that "all DOGE purchases are final sale, items purchased with DOGE cannot be returned, exchanged or cancelled."
DOGE purchased items cannot be returned or exchanged for cash either. Tesla warns, sending any other crypto for purchase of merchandise may result in the asset being lost or destroyed, as non-DOGE digital assets sent to Tesla will not be returned to the purchaser.
DOGE co-creator’s reaction
Co-creator of DOGE, Shibetoshi Nakamoto (real name Billy Markus) replied to Musk’s tweet and said: “Alright dogecoin community, you know what to do”.
Following this announcement, DOGE has risen by 14.43% according to CoinMarketCap and is now back in the top 10 cryptos after spending some time in 12th position.
In December 2021, when Musk originally announced the plans that Tesla will start accepting DOGE for merchandise, the crypto jumped up by 25%.