Last week, GoCoin announced that it will start supporting Dogecoin for its online payments services. The capability should go live within the next few weeks. This follows their introduction of Litecoin support back in January. At the time, we were curious if GoCoin had any more coins up their sleeve, to which CEO Steve Beauregard responded that “By design our system will be able to accommodate any and all alt-coins…our team continually analyzes the market and will accept coins once they meet our criteria.” In terms of selection criteria, it’s “all a matter market liquidity and demand of merchants.”
Apparently, Dogecoin has done quite well in this regard since then. The cryptocurrency has exploded in value, gaining 450% to date and as much as 1000% at its peak. It climbed its way up in market cap ranking, at one point surpassing Peercoin for third spot among mineable cryptocurrencies. Just yesterday, two new Bitcoin ATM’s were launched in Mexico capable of supporting Dogecoin. It has also been added to several exchanges, including BTC38 and Vault of Satoshi.
On Dogecoin, Beauregard said:
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“We’ve been carefully prioritising the latest alt-coins, and dogecoin really stands out as a viable currency due, in large part, to the strength of its community. By integrating dogecoin into our platform, GoCoin is one step closer to giving merchants the ability to accept any digital currency and increase sales with new shoppers.”
DC Magnates connected with Beauregard on his outlook for digital currency and for expanding GoCoin’s offering to other coins. He reiterated the company’s openness to multiple coins and fiat, and even some prototypes for currencies of the future:
“GoCoin is currency agnostic and have designed our systems in such a manner. Our systems treat USD, Euro, Bitcoin, Yen, Litecoin, Pounds and Dogecoin each as a unique currency. In this way we will be able to accommodate gov’t issued coins like Auroracoin or MintChip etc alongside decentralized coins.”
As to GoCoin’s outlook on digital currency and if they are maintaining exposure to it through their operations, such as Overstock.com has opted for, Beauregard replied, “I’m personally long on Bitcoin, but as for GoCoin, absent a derivatives market, we must mitigate our risk to avoid downside exposure.”