Cryptocurrency is one of the fastest-growing phenomena in the world right now.
With multiple different coins and tokens, it is no surprise that it is growing at such a rate.
Hundreds of thousands of people are trading these coins trying to judge the market on when to buy and sell.
However, there are many crypto holders worldwide who are looking to spend their crypto.
In particular, Bitcoin. This is because Bitcoin is the first of all the cryptocurrencies to be adopted by large corporations.
Businesses and countries across the world are slowly beginning to adopt cryptocurrency. El Salvador, India, USA, many of these countries have legalised cryptocurrency and are looking at ways to embrace it. For example, El Salvador now recognises Bitcoin as legal tender!
For a short time, Tesla trialled Bitcoin payments in the US, but it was met with some backlash due to the environmental impact of Bitcoin paired with the electric, eco-friendly standpoint of Tesla.
Whilst Tesla has begun looking into crypto payments again in the form of accepting DOGE for their merch, you are currently unable to buy a car with cryptocurrency.
So, what if you wanted to buy a used car with cryptocurrency in the UK? Or any car for that matter…
AutoCoinCars is the first off-ramp marketplace of its kind. It is a crypto-car marketplace.
Hundreds of car dealerships across the UK have been partnering with AutoCoinCars since it was established back in 2018.
Dealers advertise their stock through their marketplace like they would on other platforms such as AutoTrader.
The key detail that makes AutoCoinCars stand out in the automotive industry is that you can transact in cryptocurrency.
Let’s say you have enough Bitcoin to purchase an approved used Honda, how do you do it?
Firstly, search the AutoCoinCars portal for the model of Honda you want.
Secondly, if you enquire about the vehicle with them, they will give you a quote for the car in Bitcoin based on the live market rate.
Next, AutoCoinCars will contact the dealership for you to let them know about your desire to purchase the vehicle. As you would with any other purchase you can go and view it, ask questions, test drive etc.
Once you’re happy with the vehicle, the dealership will send AutoCoinCars the invoice. The payment is then completed with them as they are the payment processor of the crypto for the dealer.
They also do a test transaction for safety to ensure you have the correct funds and have entered the wallet address correctly.
Once this is done you can then pay the rest of the amount in your chosen cryptocurrency, in this case – Bitcoin.
From there AutoCoinCars handles the rest and pays the full invoice to the dealership. As soon as that’s complete you can take your new car home.
It’s that simple!
5 easy steps to buy a used car with cryptocurrency in the UK summed up:
- Choose a car
- Enquire and choose a crypto payment option
- View the car and test drive it (if you want!)
- Pay the invoice with AutoCoinCars
- Take the car home
If you want to buy a used car with cryptocurrency in the UK, browse AutoCoinCars’ selection today.