Donald Trump’s meme-inspired coins have gained traction as a viable payment method for official branded goods, with several marketplaces accepting the TRUMP memecoin alongside credit cards and bitcoin.
Several marketplaces selling Donald Trump-branded merchandise have started accepting TRUMP memecoin as a payment method, alongside credit cards and bitcoin. The move is seen as an attempt to increase the utility and usability of the TRUMP token.
Trump memecoin is a cryptocurrency that emerged as a meme-based project in 2021.
It was created on the Binance Smart Chain and is not affiliated with former US President Donald Trump.
The coin's value skyrocketed due to its novelty and social media attention, but it has also been criticized for its lack of utility and potential for price manipulation.
The TRUMP tokens were launched on January 17 and have since entered the top-thirty tokens with a market cap above $5.5 billion as of Thursday. The watches will be made-to-order and start shipping from October onward, according to the website GetTrumpWatches.com.
The acceptance of TRUMP memecoin is processed by Solana Pay, a decentralized payment system that allows users to send money directly to merchants without intermediaries. This marks another attempt to nudge crypto into mainstream commerce, an area where most volatile tokens have largely struggled.
Cryptocurrency adoption has been increasing globally, with more businesses and individuals using digital currencies for transactions.
According to a survey, over 16% of Americans own cryptocurrency, while in countries like Japan and South Korea, adoption rates exceed 20%.
The rise of decentralized finance (DeFi) platforms and non-fungible tokens (NFTs) has also contributed to the growth of cryptocurrency usage.
As regulatory frameworks become clearer, mainstream adoption is expected to continue.
TRUMP Memecoin’s Growing Acceptance
GetTrumpWatches.com, GetTrumpFragrances.com, and GetTrumpSneakers.com are among the websites that now accept TRUMP memecoin for payment. These websites license the brand of President Donald Trump and offer official products. The move is seen as an effort to win over more of the president’s supporters.
The ‘official’ Trump memecoin was released on January 17, and the president promoted it on social media. Despite its fluctuating value, the coin still had a total market cap of $5.4 billion on Tuesday afternoon in New York, according to CoinMarketCap.com.
The Trump memecoin is a cryptocurrency created as a joke, inspired by former US President 'Donald Trump.' Released in June 2021, it was designed to poke fun at the popularity of meme coins and their often unpredictable market behavior. The coin's value skyrocketed within hours of its release, reaching an all-time high before plummeting just as quickly. Despite its short-lived success, the Trump memecoin gained significant attention for its novelty and the frenzy surrounding its release.
Cryptocurrency Adoption
Other businesses, such as Travala.com, have also started accepting TRUMP memecoin for payment. This is part of an effort to encourage people to use cryptocurrencies to pay for online purchases. However, cryptocurrencies with rapidly fluctuating values, like TRUMP, have generally failed to gain traction as payment methods.
The acceptance of TRUMP memecoin has generated significant interest and debate about its potential uses and implications. The coin could potentially earn billions for Trump and create a significant conflict of interest for his administration, which is looking to remake the regulatory landscape for digital assets.
