Cryptocurrencies are growing rapidly every year, becoming widely accepted as a form of payment. Now, US-based AMC Theatres has announced that starting March 19, it will start accepting payments in the form of Dogecoin and Shiba Inu cryptocurrencies. AMC Theatres is the largest multiplex chain in the world with over 1,000 locations. Also Read - Tesla is on my mind 24/7, says Elon Musk amid concerns over Twitter distraction
The company has announced that all of these cryptocurrency transactions will be facilitated using BitPay, a crypto payment service provider. The service will first be enabled for people booking tickets using the web on March 19. It will later on April 16 be made available for AMC Theatre app users. Also Read - Hackers can steal your Tesla, smartphones using a simple Bluetooth hack
The news was announced by the CEO of AMC Theatres, Adam Aron via a tweet. Also Read - Elon Musk says Twitter deal ‘cannot move forward’ until it proves bot claims
This might rev up the Cryptocurrency fans amongst you. AMC IT says that BitPay will be live for AMC online payments on our web site by March 19, and live on our mobile apps by April 16. Possibly a few days earlier. BitPay, and therefore soon AMC, accepts Doge Coin and Shiba Inu. pic.twitter.com/M8lM3Rz2vY
— Adam Aron (@CEOAdam) February 28, 2022
To recall, AMC Theatres back in November had announced that it was considering accepting DOGE and SHIB coins as payments. At the time, BitPay did not support Shiba Inu, which it later on added on request from Aron.
AMC Theatres already accepts payments in the form of Bitcoin, Ether, Litecoin, and Bitcoin Cash for tickets online via PayPal.
Just after this news broke Tesla CEO Elon Musk in a reply tweet stated that it is important for the Dogecoin transaction fees to be reduced to make things like purchasing movie tickets viable.
Super important for Doge fees to drop to make things like buying movie tix viable
— Elon Musk (@elonmusk) September 22, 2021
Dogecoin transaction fees is also known as Gas Fees, which is charged to the users on making payments using the crypto to pay to the miners on a blockchain protocol to have their transaction included in the block.
According to BitInfoCharts, the average Dogecoin gas fee is currently at around $0.386 (approximately Rs 30).