There is an easy way to use cryptocurrency as payment anywhere that accepts debit cards. Crypto debit cards like the BitPay Mastercard and Coinbase Visa card work just like regular debit cards, but they draw funds from your crypto wallet rather than a bank account. And best of all, regardless of the size of the transaction, Bitcoin fees are super-low. We also found that some car dealerships will offer a discount when paying with Bitcoin. This might be because it is more cost-effective for the dealership or they are bullish on the future of crypto.
- In this guide, we explore how to buy a car with Bitcoin in 2023.
- The site gathers dozens of different vehicles, all in exchange for cryptocurrency.
- Finding out if a car dealership accepts Bitcoin or other cryptocurrencies is simple.
You should browse around and conduct some research before going to a dealership. To avoid wasting anyone’s time, make sure the dealer you’re speaking with takes cryptocurrency. The lack of government regulation is one of the issues with Bitcoin and other cryptocurrencies, which means that this form of transaction is not the most prevalent. In many jurisdictions, cryptos are taxed differently than cash, adding another degree of complication to the transaction. As the popularity of cryptocurrencies like Bitcoin, Ethereum, and XRP grows, more businesses are starting to accept them as payment. The automotive industry is no exception, with various dealerships and car manufacturers now offering the option to buy a car with cryptocurrency.
Can You Buy a Car With Bitcoin?
The fastest method requires you to call dealerships in your area to ask. Salespeople may have to ask management, but you should get an answer quickly. Many of these car dealerships use BitPay to validate all payments. Several restrict which vehicles are eligible for this payment method, so never assume that you can buy a car with bitcoin before specifically asking.
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Step 4: Pay for the Car With Crypto
This was likely driven by a rise in e-commerce tendencies during the pandemic. Nicholas Say is a writer and artist who is involved in cryptocurrency. Carter Kilmann is a personal finance writer and editor for hire, covering topics like credit cards, mortgages, budgeting, banking, and investing. He’s written for The Points Guy, Investing.com, Thrive Global, Day to Day Finance, Money Mini Blog, and more. Even with surging crypto prices over the last decade, you would still need at least three or four bitcoin to afford a Lamborghini. (Although that could change tomorrow.) The typical model ranges from $200,000 to $500,000.
Which Dealerships Accept Bitcoin?
For example, Crypto Emporium lists an Aston Martin Valkyrie for just under $4 million. When it comes to shipping, Crypto Emporium takes care of the end-to-end process. BitPay makes it easy for your car sales organization to accept Bitcoin and other cryptocurrency. To put things into perspective, we’ve created this realtime chart to show how much some of the most sought after cars cost in Bitcoin based on their MSRP. But with the value of cryptocurrency rising and mainstream adoption booming, using Bitcoin to buy a car is easier than you think. Based in Orem (Utah) John Paterson graduated from Utah Valley University and has begun writing in 2009.
Hardware Wallets Explained: How They Work & How to Use Them Like a Whale
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Why Buy a Car with Cryptocurrency
During the coin’s spike, this California dealership sold 10 Lamborghinis via Bitcoin in just one month. In 2019, the Bob Moore Auto Group partnered with Aliant Payments to bring crypto payment capabilities to its Oklahoma-based Subaru dealership. Subaru enthusiasts can buy a car, pay for vehicle parts, or cover repairs with their crypto — whether it’s Bitcoin, Ethereum, or Litecoin.
What cryptocurrency can I use to buy a car?
The information on this website is for educational purposes only, and investing carries risks. Always do your research before investing, and be prepared for potential losses. This is another reason why we like Crypto Emporium, as the platform displays its wallet address as a QR code. Scanning the code from a mobile wallet will avoid unnecessary mistakes. In some cases, people looking for a new car might not have access to fiat.