Man buy car with bitcoin

For example, a dealer in Houston, Texas, accepts crypto payments. In fact, unlike fiat currencies, there is no way to force anyone to accept bitcoin as a means of payment, so the voluntary acceptance of the seller is a necessary prerequisite in these cases. Tesla declined to comment on whether or not the company plans to accept Bitcoin as payment anytime soon. He even sold a Bentley paid for in bitcoin.

WHAT’S YOUR NEXT?

But really, how does it work? Purchases with bitcoin and other digital currencies remain rare relative to cash and credit cards. Many bitcoin holders value it more as an investment than a day-to-day currency. And the complex workings behind the notoriously volatile currency can be off-putting to neophytes. What are the fees?

For the latest business news and markets data, please visit CNN Business. It was the first time the dealer had accepted Bitcoin, it said. The sale came about after the man contacted the dealership on Monday asking if he could use Bitcoin to pay for the Tesla, explaining that he had been turned down by other sellers, Davy said. Related: What is Bitcoin? After checking into any legal issues and other research, the dealership worked with Bitcoin payment processor BitPay to handle the transaction.

Bitcoin has become such a popular form of currency in the past handful of years that people are using it to purchase just about anything, including a new car. Bitcoin is a cryptocurrency, which means that it provides users with anonymity.

No one knows who it is using the Bitcoin to purchase items. This means that you will need to be man buy car with bitcoin, so cryptocurrency like Bitcoin likely cannot be used in that form.

Despite all of this you can still buy a car with Bitcoin as there are a few different methods available. You likely want to use Bitcoin since it has increased in value immensely recently, hitting its highest value ever earlier in the month of December.

Below are the options you have when buying a car using Bitcoin. The first option you have when wanting to use Bitcoin to purchase a car is to convert the Bitcoin to cash. The seller of the car does not have to understand how Bitcoin works when you convert it to cash.

You can find companies online that convert Bitcoin to cash. Be sure to do plenty of research first so you do not come across a website that is a scam.

You never know, but you might be able to find a Bitcoin user who is selling a car. If this is the case the two of you might agree to conduct the transaction using Bitcoins. Or, you might be able to find someone who is selling a car and wants to acquire Bitcoins. The best way to acquire Bitcoins is to do so via a sale of goods or services. This is an option you have to use Bitcoin to buy a car, especially if the seller is on the same page.

You also have the option of finding a middle man to handle the transaction for you when buying a car using Bitcoin.

Do plenty of research prior to choosing a middleman so you do not wind up being scammed. Believe it or not, car dealerships are accepting Bitcoins as currency when selling cars these days. As Bitcoins become more popular, and more valuable, dealerships are realizing this and making this type of currency available for customers to use when buying a car.

Be sure to do a little research first to see if a dealership near you accepts Bitcoins as payment. As you can see, Bitcoin has become quite popular recently and its value is skyrocketing. The next time you go to purchase a car, see if the seller will all you to use Bitcoin for payment. Notify me when new comments are added.

Cancel reply to comment. December James Vassallo Comments 0. Convert to Cash The first option you have when wanting to use Bitcoin to purchase a car is to convert the Bitcoin to cash. Find a Bitcoin User You never know, but you might be able to find a Bitcoin user who is selling a car. Find a Middle Man You also have the option of finding a middle man to handle the transaction for you when buying a car using Bitcoin.

Check for a Dealership Believe it or not, car dealerships are accepting Bitcoins as currency when selling cars these days.

Rodney buys 350k Lambo paid in full with Bitcoin

Press Release

Posted in: Older News. By Marco Cavicchioli — 6 Jan A Maryland man recently got scammed after paying for a used car with bitcoin, according to NBC4 Washington. Also read: Bitcoln to avoid bitcoin scams. Is it possible to buy a car by bbitcoin in bitcoin? Expected technologies in Marco Cavicchioli — 29 Dec We’re no longer cat this page. When Harrell, a retiree and Vietnam veteran…. Bitcoin can be used like any other currency if the seller bitcokn it as a means of payment, so to buy a car in bitcoin it is enough to find a seller willing to accept the cryptocurrency as payment. More Stories. Marco Cavicchioli — 29 Dec If you compare these data with those of any car buying and selling portal, you man buy car with bitcoin notice an abyssal difference. He even sold a Bentley paid for in bitcoin. Viewers were also advised that sellers who insist on communicating only via email should be alarmed. These are your 3 financial advisors near you This site finds and compares 3 financial advisors in your area Check mzn off your list before retirement: talk to an advisor Answer these questions to find the right financial advisor for you Find CFPs in your area in 5 minutes. Marco Cavicchioli ClassMarco teaches web-technologies and is an online writer specializing in cryptocurrencies. CNNMoney Sponsors.