It believed by Elon Musk that Bitcoin is famous as a place of value however Dogecoin is consider better for making transactions. It lately revealed that Tesla will be accepting Dogecoin payments for the merchandise.
The Tesla chief is the greatest Bitcoin of endorsers until last year and announced that Tesla will accept the payments in Bitcoin. However, in latest interview it also mentioned that Dogecoin is consider to be better for transactions. It also said that Bitcoin is famous among investors as each such token recently stores huge quantity of fiat currency.
Bitcoin and transaction value!
Bitcoin’s Transaction value is quite low and cost for each transaction is quite high. It is also quite suitable as the store of value. However, primarily, Bitcoin is never a great substitute for the transactional currency. Dogecoin is always better suitable for transactions. Complete transaction flow which you do with the Dogecoin is mainly transactions each day that has much high level of potential as compared to Bitcoin.
Tesla accepting Dogecoin
It also announced by Musk that Tesla will now accept dogecoin being a payment for merchandise on the test basis. Musk does not specify about merchandise, that begins with $50 and it also goes quite high to $1,900, that can even bought with the dogecoin.
The company even sells some of the limited-edition product like ‘Cyberwhistle’, that modeled subsequent to their much-awaited Cybertruck. This is also lately launch the quad bike ‘Cyberquad’ meant for the kids, that is modeled after truck.
Before this month, Musk also had hyped up the Dogecoin that is against Ether. It is a native cryptocurrency of Ethereum blockchain. It also called as people’s crypto and it also has been tweeting regarding this aggressively all through the year.
