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Dogecoin payment for blue check marks, Twitter Blue is getting pricier by the day as DOGE price skyrockets

By Darius McQuaid

15:20, 1 November 2022

Elon Musk's Twitter account displayed on a phone screen and Twitter logo displayed on a laptop screen
Dogecoin is up by 127.63% compared to the previous week on 1 November - Photo: Getty Images

Elon Musk, CEO of Tesla, SpaceX and now Twitter, has been heavily criticised for proposing that influential people on the microblogging platform should pay for their verified blue check marks.

Musk has suggested that verified users should pay a monthly fee for the blue ticks on their handle, with the price ranging from $5 to $20.

The author Stephen King made his opinion clear of what he thinks of this move, tweeting: “F*ck that, they should pay me.”

Musk responded to King with a tweet that said: “We need to pay the bills somehow! Twitter cannot rely entirely on advertisers. How about $8?

“I will explain the rationale in longer form before this is implemented. It is the only way to defeat the bots and trolls.”

DOGE to USD 

Dogecoin rally

However, Musk’s announcements and purchasing of Twitter have all resulted in a price rise for dogecoin (DOGE).

Musk has been alluding to DOGE integration since he took over the company and tweeted out an image of a dog with a Twitter logo wrapped around it, and a Hallowe’en pumpkin with a Twitter logo on 31 October with a winking face emoji.

XRP/USD

0.51 Price
-2.360% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

BCH/USD

487.15 Price
+1.940% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50

BTC/USD

66,294.45 Price
-1.110% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

ETH/USD

3,080.07 Price
-1.390% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

David Gokhshtein, who has a blue tick check mark on Twitter, said in response to this: “Elon out here letting everyone know that he’s essentially going to make DOGE the main cryptocurrency on Twitter.”

Gokhshtein is the founder of Gokhshtein Media, a blockchain media company.

Dogecoin is enjoying price increases across the board. It is up by 12.51% compared to the previous day and 127.63% to the previous week on 1 November according to CoinMarketCap.

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Twitter Blue

When Musk was Twitter’s largest shareholder earlier this year, he suggested that everyone who signs up for Twitter Blue could potentially pay for it with DOGE.

Twitter Blue offers users “exclusive access to premium features” and has only been launched in the United States, Canada, Australia and New Zealand so far.

Currently, users pay $4.99 per month for Twitter Blue.

Markets in this article

DOGE/USD
DogeCoin / USD
0.1497053 USD
-0.0043063 -2.810%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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