So confusion, such community, much… moon? If you’ve been paying attention to online technologies, have a family member or friend who does, or are beginning to investigate the world of online stores in general, chances are you have heard of Bitcoin. And maybe Litecoin. But there’s another one that you should hear about if you haven’t already. An accessible, fun, and not so serious cryptocurrency that is driven by an equally accessible, fun, and not so serious community. This currency has been labelled as “dead” to “next big thing” and everywhere in between.
Those are both not entirely the case, and I’m here to tell you why you should accept it anyways.
And what if all you had to do to become accepted by this community as a go-to source for the very product that you sell, was to accept this community’s particular form of currency that can be exchanged for any other currency on the globe?
What if I told you a community is out there that you don’t market to, that boasts a massive membership of over 90,000 active members and even more anonymous members, has more transactions per day than any other online community of its type, and is fanatically searching for ways to make even more transactions. And what if all you had to do to become accepted by this community as a go-to source for the very product that you sell, was to accept this community’s particular form of currency that can be exchanged for any other currency on the globe?
I bet you would tell me that you want a piece of this pie.
The currency is named Dogecoin, and it has positioned itself as an entry-level Cryptocurrency – a Cryptocurrency-lite if you will. By now, everybody is familiar with bitcoin, but Dogecoin enjoys a unique position of being developed to be a transaction-based currency. The members of this community want to spend this currency on goods and services, not hold onto Dogecoin in an attempt to get rich like some cryptocurrencies.
This is good for you. Dogecoin users want to spend money.
Dogecoin offers you some unique opportunities to people and companies who choose to accept it, some of those are:
- Near-instant transactions
- International transfers of any size at almost no cost (currently less than one cent)
- Customers can not charge back like credit cards and paypal.
- No base acceptance fees
- No vendor lock in – Dogecoin does not care what other forms of payment you accept
- Fast and easy setup with no additional or up-front costs (just need a computer and minutes of your time to get started)
All they need is for some businesses, perhaps yours, to take the next step and accept their currency.
Dogecoin can be exchanged to national currencies. You can do this easily by yourself or use the automatic conversion offered by some payment processors (of this will be explained further below). You can also just keep your Dogecoin and spend it.
Right now, Dogecoin members and users have some shops set up to sell a collection of random items, but these products are by and large products that are available in a swap-meet like setting. What they are clamoring for is bigger, they need more – they need actual stores. Looking into the community, you can see what appears to be 90,000+ active members of the community. All they need is for some businesses, perhaps yours, to take the next step and accept their currency. We at Chewie Media have begun accepting Dogecoin, and are excited with the opportunity this brings, as well as the ease in which we can exchange any Dogecoin needed for Canadian funds – or to spend that Dogecoin on other goods and services.
Accepting Dogecoin has given them a boost in sales and in exposure, and they are now enjoying being part of a growing community of stores that have become adopted by this fanatical and fun currency-based community – or “shibes” as they prefer to be called.
The process is relatively simple. The official Dogecoin website describes what it takes to get started. From there, as a business owner, you can accept Dogecoin and convert it to funds of your choice using Vault of Satoshi. As web developers, Chewie is fully able to help you accept Dogecoin and set up the necessary infrastructure, much like we did for our clients atA llure Boutique and Sex Boutique (careful, the subject matter may be not safe for all viewers). Accepting Dogecoin has given them a boost in sales and in exposure, and they are now enjoying being part of a growing community of stores that have become adopted by this fanatical and fun currency-based community – or “shibes” as they prefer to be called.
Now, there are a few perceived negatives about the process. Conversion costs roughly the equivalent of credit card acceptance fees, and holding onto Dogecoin long-term is a little more volatile than holding onto Canadian or American funds. Dogecoin’s value is largely based on supply versus demand, and without being attached to real-world precious metals such as silver or gold, the value does fluctuate since it is still in its infancy. Overall, though, we weighed these very same concerns in our offices and decided that accepting Dogecoin brings about sales which we would normally not make, and that was worth any sort of risks that may come with it. And besides, it’s based off of a dog (client’s dog rule), and in case you haven’t noticed by now, we’re a big fan of our dogs.
Ask us how Dogecoin can fit into your overall business plan, and how you can start accepting Dogecoin for your goods and services today.
A great big thanks goes out to Murals by Larochelle for lending us her Dogecoin-inspired artwork for our banner image. Check out her website – she is a very talented artist and we are so fortunate that she keeps her finger to the pulse of the digital community enough to have already painted a set of four painting on the very subject!