GCash, the most widely used mobile wallet app in the Philippines, has expanded the list of cryptocurrencies available on its GCrypto platform. In the latest update, GCash has announced that Dogecoin (DOGE), a cryptocurrency originating from a popular internet meme, will now be included among the digital assets supported by the platform.
The inclusion of Dogecoin on the GCrypto platform allows users to seamlessly engage in buying, selling, and trading activities within the app.
Dogecoin (DOGE) Integration on GCrypto
On February 20, GCrypto integrated Dogecoin (DOGE) into its platform, expanding the range of digital assets available to its users. This addition comes after GCrypto previously listed Shiba Inu (SHIB), another meme-based cryptocurrency. Shiba Inu gained attention in the crypto community as a potential competitor to Dogecoin.
Understanding Dogecoin (DOGE)
Dogecoin, featuring the iconic Shiba Inu dog meme as its logo, originated as a humorous and satirical take on traditional cryptocurrencies. Unlike many cryptocurrencies driven by technological advancements, Dogecoin’s value primarily relies on social media trends and community engagement. Notably, influential figures such as Elon Musk have the ability to influence its market value significantly through their online presence.
Launched in 2013 by Billy Markus and Jackson Palmer, Dogecoin was conceived as a playful iteration of Bitcoin, characterized by its unlimited supply. Unlike Bitcoin, which operates on a deflationary model with a capped supply, Dogecoin follows an inflationary model.
Utility and Applications of Dogecoin
Dogecoin boasts a vibrant community that utilizes the cryptocurrency for various purposes, including:
- Tipping and Donations: Dogecoin is commonly used for tipping content creators and making charitable donations online, fostering a culture of appreciation and generosity within its community.
- Online Retail Payments: Many online merchants accept Dogecoin as a form of payment, enabling users to conduct transactions and purchase goods and services using the cryptocurrency.
- Real-World Transactions: Dogecoin’s accessibility was further enhanced when it was listed on platforms like Binance in 2019, facilitating its use in real-world transactions. Platforms like Wag accept Dogecoin and Ethereum payments for their services.
Community and Development
Despite originating as a meme coin, Dogecoin’s active community and development efforts have maintained its value proposition through diverse use cases and dedicated users.
Expansion of Cryptocurrency Offerings on GCrypto
GCrypto users can access a wide range of cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and many other digital assets, in addition to Dogecoin. Adding Dogecoin to its list of supported cryptocurrencies, GCash gives its users more options for participating in the cryptocurrency market.
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