Dogecoin is part of the most popular cryptocurrencies that have been under the spotlight lately. It has recorded significant token growth that is yet to be seen in other crypto assets. Well, does that mean investing in Dogecoin is the ultimate move? First and foremost, what influences the coin's performance in the currency space?
Drivers of the Dogecoin Price
Like other crypto coins, factors that affect price fluctuations revolve around Dogecoin and its independent factors. There are various reasons on why dogecoin price is surging. For instance, a positive increase in Dogecoin price in the market is affected by its adoption by users. In the same way, factors such as territorial regulations on the crypto, negative press, and cyberattacks on Dogecoin exchange platforms are also significant contributors to its global performance.
In other news, maybe you shouldn't get carried away as such. You are yet to discover if investing with Dogecoin is worth it, let alone brilliant. Like other coins, it also packs significant volatility and risks.
Pause to Consider PayPal
The many concerns related to Dogecoin are enough to make investors pause before making any drastic decisions for purchase. One major issue- supply, is infinite, and hence, will soon be more than consumer demand. The thing is, Dogecoin might have prided itself in having a good trading price factor, but that doesn't mean it is highly esteemed.
Into the pipelines of it, PayPal makes a louder and bolder statement with popular digital payments. In essence:
It is a Better Buy
Many investors and merchants adore it because it bears numerous tools that give them an upper hand in participating in the digital economy. As the trend continues to grow forth, PayPal is better placed to prosper soon.
PayPal's Global Network is an Added Advantage
PayPal yet boasts one more feature that Dogecoin lacks. Its worldwide network attracts significant traffic of merchants who are fearless to invest in their PayPal accounts anywhere. That probes more people to set up accounts with the company, hence increasing its value.
The Company's Key Role in Crypto's Economy
PayPal can now be mentioned as a critical player in that space with the significant value it has established in the cryptocurrency economy. It has established itself to enable users to trade coins with multiple buyers and sellers or hold them directly from the PayPal app.
Consumers can now finance their online purchases with cryptocurrency. More to it, PayPal has a clear establishment of the future, which sees it bringing its functionality to millions of merchants worldwide. Subsequently, the strategy would see it powering several transactions in the cryptocurrency market.
Unfortunately, Paypal does support only a limited number of cryptos and it is not possible to buy doge with PayPal as of the time of writing this post.
What's the Take on PayPal and Dogecoin?
There is a high chance that cryptocurrencies are sailing on the route to becoming mainstream quickly. If that happens, PayPal might be one of the beneficiaries of the development. On the other hand, if cryptocurrencies only take up a small niche market, Paypal would still shine in the limelight. The company would still have a thriving business, unlike Dogecoin, which still doesn't relate to the safety aspect. Moreover, PayPal still displays the significant potential to increase customer gains every time they update its value on their portfolios.