Dogecoin is one of the fastest-growing cryptocurrencies in the world today. These meme coins can be used for multiple purposes which include payment for products and services.
Today, the dog-themed coin can be used to purchase products from Tesla, owned by the named Dogefather, Elon Musk.
In this post, we’ll learn how to buy a Tesla product with the dog-themed-memecoin, Dogecoin. Before then, let’s know more about Dogecoin and Tesla.
What is Dogecoin?
Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a “joke”, making fun of the wild speculation in cryptocurrencies at the time. It is considered both the first “meme coin”, and, more specifically, the first “dog coin”. The coin trades in the crypto market by the symbol DOGE.
Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of the Shiba Inu dog from the “doge” meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalization of over $85 billion on May 5, 2021.
What You Need To Know About Tesla
Tesla, Inc. is an American multinational automotive and clean energy company headquartered in Austin, Texas. Tesla designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services.
The company is owned by multi-billionaire, Elon Musk who is one of the top influencers of Dogecoin.
What can I buy from Tesla with Dogecoin?
The Tesla company allows you to buy products such as merch, cyberquads for kids, and few other products with the dog-themed coin, Dogecoin.
You’ll need to look out for the Dogecoin symbol (DOGE) next to the order button to check what you can buy with the token.
How do I buy from Tesla with Dogecoin?
If you’re buying any of Tesla’s Dogecoin-eligible products, you’ll need to take the steps below;
1. You’ll need a Dogecoin wallet. This will be used to make your purchase using DOGE on the Tesla shop.
2. Checking out DOGE, the payment will display the Tesla Dogecoin wallet address in both an alphanumeric code and a QR code form. This will allow you to connect to your Dogecoin wallet to transfer the DOGE.
Always know that it is your responsibility as the buyer to ensure that Dogecoin is transferred to Tesla’s Dogecoin wallet accurately.
Things to know when buying products on Tesla Shop with Dogecoin
- All eligible Tesla products will be clearly priced in DOGE. This will include any applicable taxes.
- Fees are charged by the Dogecoin network each time a payment is made in DOGE.
- If you transfer an incorrect amount of DOGE, your order may be subject to cancellation.
- You can’t send more than one payment using multiple wallets for a single order.
- Once you make a payment, it is important to allow the payment page to refresh. Your order is confirmed via a confirmation email from the Dogecoin network. (It can take up to 6 hours for the network to confirm your payment).
- The timer on the payment page will display the amount of time you have to complete your payment. If the time expires, you’ll need to restart the order process.
- You can’t cancel an order purchased with Dogecoin.
- You can’t return an item purchased with Dogecoin or exchange it for cash.
- Tesla only receives Dogecoin. It cannot receive or detect any other crypto coins.
- You should have it in mind that making payments in Dogecoin can be risky. Hackers or other similar groups might try to cause problems with the Dogecoin network on your payment that could affect your transaction. This can result in lost or stolen Dogecoin which Tesla is not responsible for.
Dogecoin is no doubt one of the most popular cryptocurrencies today. The Shiba Inu dog-themed cryptocurrency is rivalling payments Bitcoin as it can be used to make payment for products and services.
As you can buy some products on the Tesla shop, only time will tell if one can also buy other top products including the Tesla car with DOGE.
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