Price of dogecoinThe Monday gain before the paring was greater than 15% TeslaAccepting cryptocurrency payments for merchandise has been made easier.

Tesla CEO Elon Musk stated on Twitter Monday that merchandise from the electric carmaker can be bought with dogecoin.

According to Coindesk data, Dogecoin reached $0.20 per coin around 01:19 ET. Some gains were then pared off at the end of that period. The price was more than 9 percent higher at $0.18 ET at 07:06 PM ET.

The cryptocurrency was only able to be used for a limited number of products. originally started life as a joke coin.

Imagine a whistle with a shape like this Tesla’s CybertruckThe cost of 300 doge is approximately $59, at the time this article was written. To commemorate the occasion, a belt buckle Tesla’s Gigafactory in Texaswas about $164, going for 835 dogse.

Since a while, plans have been underway to accept dogecoin for payment. In December, Musk tweeted that “Tesla will make some merch buyable with Doge & see how it goes.”

For digital money transfers to Tesla users will need to have a dogecoin wallet. According to company policy, overpayments in Dogecoin will result in the payment not being refunded back to its original form. website.

Tesla cautions that the confirmation of the payment can take as long as six hours by the dogecoin network.

The company also stated that orders made in dogecoin can’t be cancelled or returned. A Tesla product can usually be returned within 30 calendar days of being received if it is purchased via the official Tesla Store using traditional payments methods.

Tesla isn’t the only one to accept cryptocurrency for payment. The last time this happened was in 2017. Tesla bought bitcoin worth $1.5 billionIt stated at that time it intended to accept payments using cryptocurrency. Musk followed up. stopped accepting bitcoin over environmental concerns. It is important to note that the bitcoinNetwork, via a process called mining uses large amounts of energy.

Analysis by has shown that Dogecoin requires significantly less energy. TRG Datacenters. Musk last year stated that he would collaborate with dogecoin developers improve the efficiency of transactions.