Buying cars with crypto

[SOKO-DEKE]

Do you think someday we'll see dealerships accepting crypto payments at a large scale? Or is it still too early to tell? Would stablecoins be a better choice than crypto for this kind of transaction? Your input would be greatly appreciated. Thank you.

In my country, I have not seen a dealer or have I heard of any dealer accepting crypto as payment and make it public. But I believe that if someone is willing to make a payment in Bitcoin with some dealers, they will accept it.I have seen online that there are some car manufacturers that were accepting Bitcoin as payment, like Tesla. I don't know about now, but Tesla was accepting Bitcoin some years back.

The adoption of crypto is increasing and almost everyone are getting aware about crypto, especially Bitcoin, so people are already beginning to accept Bitcoin as payment. In fact, there are many places where Bitcoin is being accepted as payment, and that is how it will gradually continue to increase.

[odunybiz]

well i have a car dealerhsip in ghana and i accept crypto ,i have sold 15 cars by accepting crypto including G wagon and most luxury cars .

Which crypto precisely is the dealer accepting, Bitcoin, stable coin or others? Well, it is highly possible for this to happen especially with Bitcoin and stable coin but crypto being legally or illegally used in such country may determine if this could happen. Such is highly easy to occur in a crypto friendly country like UAE compare to Nepal or Iraq where crypto is highly prohibited (ban).

[Abiky]

Buying cars with bitcoin isn't possible in most part of the world. The reason is that not many popular cars brand accept cryptocurrency at the moment, however this may change in next 5 to 10 years.

Secondly the car dealers also wouldn't accept crypto because first they don't want to accept the currency which isn't legal everywhere and also since bitcoin price is volatile, if one get BTC for car and then the BTC dumps, it may cause significant damage to the one who accepts bitcoin.

I don't think volatility would be much of a concern. Especially if car dealers accept Bitcoin through a centralized payment processor. They would convert the BTC to Fiat "on the fly" at the moment of the transaction. What they worried about is governments getting on their tail for accepting a currency which is NOT legal tender. Only on countries with an authoritarian regime.

Most of the world's countries don't have a problem with Bitcoin or any other cryptocurrency, so they will allow anyone to accept it as payment method as long as taxes are paid in return. This is the most important part. Because if taxes are missed or evaded through crypto, "it will be hell to pay". I'm sure more dealers will accept crypto payments in the future. We'll see what happens.

[nomenclatur]

It's possible that Bitcoin could one day be used as a payment method for car purchases, but stablecoins would be the most viable option. Stablecoins are crucial because they offer instant payments, which makes them important for transactions. Their stable price is ideal for payments, while Bitcoin remains volatile and its price fluctuates rapidly, making it less suitable as a primary payment method.

[Baki202]

In my country, I have not seen a dealer or have I heard of any dealer accepting crypto as payment and make it public. But I believe that if someone is willing to make a payment in Bitcoin with some dealers, they will accept it.I have seen online that there are some car manufacturers that were accepting Bitcoin as payment, like Tesla. I don't know about now, but Tesla was accepting Bitcoin some years back.

There are places I have seen and heard of, like lagos were dealer will accept crypto in the value of what you are buying, and it will have to be in usdt since it gives the same reading as dollars, and most cars are sold in that currency, and even in the case of those manufacturers, they will have a specific type of crypto that they accept and i think it was tesla that was accepting Dogecoin as a means of payment, but i think it was suspended.

The adoption of crypto is increasing and almost everyone are getting aware about crypto, especially Bitcoin, so people are already beginning to accept Bitcoin as payment. In fact, there are many places where Bitcoin is being accepted as payment, and that is how it will gradually continue to increase.

And it is good that people are accepting Bitcoin. A lot of people had the wrong meaning of bitcoin investment because they had had a lot of failed experiences in Ponzi, so it took people time to actually accept it and even accept it as a means of payment, and the adoption of bitcoin will keep increasing as it is now.

[Ever-young]

It's possible that Bitcoin could one day be used as a payment method for car purchases, but stablecoins would be the most viable option. Stablecoins are crucial because they offer instant payments, which makes them important for transactions. Their stable price is ideal for payments, while Bitcoin remains volatile and its price fluctuates rapidly, making it less suitable as a primary payment method.

Stablecoins depend on the network which it’s transacted on that will determine how fast the payment will take to reach the receiver’s hand, bitcoin network the seller might want for the coin to undergo some number of confirmations before they will consider the payment valid to avoid double spending problem, but that’s not the only thing that will make stabecoins more suitable for such payment regulatory measures could also be another reason since the stable coins are just the united state dollar on a digital form.