Digital games marketplace Kinguin today revealed that its customers can now use Dogecoin (DOGE) as a cryptocurrency payment option. Widely considered as the first “meme coin” or “dog coin” - owing to its use of an image of a Shiba Inu Dog - this successful cryptocurrency is very popular with Gen Z’s.
Kinguin takes offering diverse payment options to its 10 million registered customers seriously - and it has to with over 600,000 transactions taking place monthly. More than 100 different payment methods are available through the site including credit cards, bank transfers, PayPal, and Crypto.
It was in 2015 that Kinguin first introduced crypto payments to its website with the integration of Bitcoin through BitPay. The addition of Dogecoin now takes the total number of cryptocurrencies available at Kinguin.net to 10 including Bitcoin, Litecoin, Ethereum, Dash, and Zcash. In 2021, the company has seen the number of payments made with cryptocurrencies rise, accounting for more than 30% of all withdrawals on the site.
“Kinguin has always been a customer-centric platform which focuses on customer feedback” said Faheem Bakshi, Head of Payments at Kinguin. “Recently, many of our customers have been asking us to add DOGE as a payment method so we’re excited to make this a reality. Our main priority is to add value to our customers and with this payment option we can help them minimise exchange fees or any type of transaction fees. This is especially important when a customer is based in a different region to the seller.”
Dogecoin was initially created as a “joke” by creators Billy Markus and Jackson Palmer as they tried to make fun of the wild speculation in cryptocurrencies. With a market capitalization of $22.5 billion dollars in 2021 and a one-minute block time, it’s no longer something to laugh at. Even Elon Musk has got in on the act - informing his Twitter followers that Tesla will be accepting Dogecoin payments for its products.