The cryptocurrency market is seeing many fast changes and updates. Firms are coming up with new projects on a daily basis. However, the latest is the report about Dogecoin (DOGE) introducing interesting concepts in the cryptocurrency transactions sector, in the form of DogePal.
Since coming to the market, many users don’t think highly of the cryptocurrency due to its jovial origins. However, the introduction of anonymous tipping seems to be winning some people over. Particularly, Reddit users are celebrating the new feature.
A ‘PayPal’ Service for Cryptocurrency
Most important is the introduction of DogePal. According to the DogePal website, the new service incorporates email-to-email payments of Dogecoin. This will combine a login system and a decentralized Dogecoin wallet. Further, the website explains that the service runs best on a personal computer. However, users can also transact using their Android and iOS devices.
Unfortunately, some users are not happy with a particular feature of the service. According to a note on the website, users can recover their accounts in case of lost or forgotten passwords. However, they cannot recover their Dogecoin that was in the account before password reset. In this light, the note advises users to secure their passwords safely to avoid such inconveniences.
Interestingly, some users have challenged the new service, comparing it to PayPal. However, the company emphasizes that the service is a competitor to PayPal. The two services differentiate on their core business. Nonetheless, the business model is somewhat similar.
Like PayPal, the DogePal service enables cross-platform transactions. This is where users can access payments platform both on a mobile device and on a personal computer. More interesting, however, is the fact that DogePal enables adverts for businesses on its platform. In fact, a note on the site indicates that Dogecoin related advertising will be free for the rest of 2018. Later, the Dogecoin adverts will attract fees which DogePal promises to be affordable.
Could DogePal Signify a New Beginning for Dogecoin?
According to Cryptomonedas, DogePal is positioning itself as a service which different platforms and applications can adopt. At the moment, the service is still building the reputation by working on its applicability.
Essentially, knowledgeable observers note that the move is crucial towards pushing for mainstream use of Dogecoin. Specifically, the anonymous aspect of the cryptocurrency will attract users who value privacy above all else. However, critics are already airing their views and they hope that it will not promote money laundering.
Undoubtedly, Dogecoin introducing interesting concepts will definitely boost the value of the coin. However, looking at the current charts, there is no significant change in the value of the memetic cryptocurrency.
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