By Samuel Indyk
Investing.com – Electric vehicle maker Tesla (NASDAQ:) has confirmed that it has begun accepting the cryptocurrency as payment for some merchandise on its website.
The news was confirmed with a tweet from Tesla CEO Elon Musk.
“Tesla merch buyable with Dogecoin,” Musk said on the social media site.
The price of Dogecoin surged following the announcement. At 07:59GMT, Dogecoin trades at 0.195576, up 15.4% in the last 24 hours.
Some of the products available to buy using Dogecoin were the Cyberquad for Kids, Cyberwhistle, and Giga Texas Belt Buckle, according to the company’s website.
Vehicles, such as the Model 3 and Model S, and accessories for the vehicles, were not available to buy with Dogecoin.
The news should not be particularly surprising. In December, Musk tweeted that Tesla would begin accepting Dogecoin for some merchandise.
In the support section of the Tesla website, the company has provided a practical FAQ page for using Dogecoin. The company confirmed that users paying Dogecoin will incur fees, with the purchases responsible for any fees associated with a Dogecoin transaction.
Tesla also confirmed that once an item has been purchased with Dogecoin, they cannot be returned, exchanged or cancelled.
Tesla has previously ventured into the world of cryptocurrencies when it began accepting last year. However, the option to pay using Bitcoin was short-lived, with Elon Musk citing the environmental impact of transactions and mining on the Bitcoin network for its removal.
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