Thirteen years ago, cryptocurrency and Bitcoin would have earned you a few raised eyebrows, but there\u2019s no way you\u2019d have exchanged your Satoshis for a cool set of wheels. These days, with YouTube influencers making millions from digital art (NFTs) and America\u2019s Federal Reserve planning to create their own digital currency, that future has finally arrived. You can now buy a car with cryptocurrency.<\/p>\n
Cryptocurrencies are a digital form of cash that began with the creation of Bitcoin in 2009. Bitcoin was created in response to the financial crash of 2008 as a peer-to-peer payment method. That means it doesn\u2019t involve a third party like banks or governments. Because of this, initially, it was viewed as a way to carry out illegal activities on the dark web.<\/p>\n
Today, cryptocurrencies are losing their bad reputation. There are over 10,000 different types of crypto coins. Some of them are more reliable than others. Bitcoin, being the first digital currency to be developed, generally has more credibility and acceptance than most others. Each crypto coin holds a varying value and some are recognised as an acceptable payment by Amazon, Lush<\/a>, some car dealers and even private sellers.<\/p>\n Bitcoin, Ethereum and Litecoin are the best-known coins. Each of them can be broken down into smaller parts, much like dollars and cents. The smallest unit of a bitcoin is known as a Satoshi \u2013 named after the elusive creator of the currency. If you want to buy a car with cryptocurrency, chances are you\u2019ll be paying in Bitcoin. There are three main ways you can buy a car with cryptocurrency.<\/p>\n Not all dealerships accept cryptocurrencies and you may still earn yourself a few raised eyebrows if you try negotiating in Litecoin or Eth. In most cases, dealers will only accept Bitcoin as payment. Those that do usually work with an intermediary payment provider to enable crypto transactions.<\/p>\n The process for buying a car with cryptocurrency from a dealer isn\u2019t too far different from paying with any other method. You\u2019ll still browse the cars on offer, find one you like and then negotiate the price. Once the price is settled, you\u2019ll need to send your Bitcoin to the intermediary, likely Auto Coin Cars or BitPay who will then forward the payment to the dealership.<\/p>\n Prestige Cars in Kent are one UK dealer accepting Bitcoin as full or part payment for their cars. They made their first cryptocurrency car sale in lockdown<\/a>, accepting Bitcoin as the payment. The deal was completed as a Click and Collect transaction, making it simple for the buyer to safely drive away without fear of infection.<\/p>\n BMW dealerships in the UK are also preparing to accept Bitcoin, so you will soon be able to buy the latest BMW with cryptocurrency too.<\/p>\n Bitcars is an online platform selling supercars, classic and luxury vehicles, motorhomes and yachts. They\u2019re devoted to luxury items and state on their website that they \u2018live cryptocurrencies\u2019 too. They accept a number of different crypto coins, including Bitcoin, Litecoin, Ethereum and Dodge, but not traditional payments.<\/p>\n Bitcars was founded after the successful establishment of BitDials, a business supplying high-end jewellery and watches for cryptocurrency. Bitcars specialises in expensive, hard to find or unique vehicles and have been doing so since 2016.<\/p>\nBuy a car with cryptocurrency direct from a dealer<\/h2>\n
Buy a classic car with cryptocurrency online<\/h2>\n