“What if you could buy a car with Bitcoin or other digital currency?” A lot of you might have only ‘imagined’ it. With cryptocurrency being excessively traded in the marketplace today, the thought of purchasing automobiles with cryptocurrency striking your head comes as no surprise. However, for your information, it is no longer a part of your imagination. That is correct. Buying cars with Bitcoin or any other cryptocurrency, such as Litecoin and Ethereum, is an idea that can be seamlessly implemented in the new age of digitalisation. Thankfully, with AutoCoinCars, car enthusiasts have been able to live their dreams. When it comes to buying cars with crypto through online car dealerships, AutoCoinCars has been at the forefront for a very long time. Being a market-ruler, AutoCoinCars does not cease to cater to its customers’ online car-buying requirements. From buying a prancing horse like Ferrari to booking a high-performance electric car, such as Tesla, with nearly all popular forms of cryptocurrency, AutoCoinCars facilitates you in the best possible way.
Before we delve deeper into how you can purchase your dream car with AutoCoinCars using digital currency, let us first understand what cryptocurrency is and how it operates.
What is Cryptocurrency and how does it work?
Cryptocurrency is a digital currency that is decentralised in nature. Unlike traditional means of payment, cryptocurrency does not rely on a government-issued authority to verify its transactions. Instead of utilising a central authority, the mechanism of decentralisation uses cryptography for performing online transactions. As it works through a peer-to-peer network, it can be directly transacted between two parties from anywhere in the world to trade goods and services. Therefore, being able to carry out transactions without a financial intermediary intervening is definitely the biggest plus that comes with cryptocurrency.
With over 19,000 cryptocurrencies existent in the marketplace, you must be wondering which one should ideally be used for purchasing cars. Statistics reveal that Bitcoin is the most popular and widely accepted form of cryptocurrency in use nowadays. By holding 56% of the crypto-marketplace, Bitcoin continues to be the hottest and highly desired form of digital currency. Interestingly, it was the firm form of cryptocurrency founded by Santoshi Nakomata in 2009. Just as other cryptocurrencies, Bitcoin employs blockchain technology to carry out transactions. When using cryptocurrency to make payments online, each transactional record is stored in the digital ledger. Fortunately, every transaction entered in the ledger is encrypted. This allows the data or information to be highly secure and authorised. Not to mention, the blockchain technology enables the added data to be stored permanently without it being manipulated in any way. This way, the technology makes your data “tamper-proof.”
Merits of purchasing cars with Bitcoin and other Cryptocurrencies.
Now that you are well acquainted with the basics of cryptocurrency, you might be interested in knowing the benefits it carries. Without a doubt, buying the car you have always yearned for will no longer be a ‘longing’ for you. Before we sneak a peek into how a car can be bought using crypto, let us take a closer look at the most notable merits associated with it.
- The transaction you make in crypto does not need to pass through a middleman or an intermediary for verification purposes.
- With no third-party involvement, you are no longer required to pay the conversion fee for converting your digital money back into fiat currency e.g. U.S.D or Euro.
- Crypto-based transactions barely involve any paperwork. The only physical documents involved are car registration papers, invoice, and sales recepit. With no paperwork hassle, the process becomes seamless and time-saving.
- Your crypto-transactions are speedy and barely time-consuming.
- As the transactional data recorded in the digital ledger is encrypted, an extra layer of security is added when you make payments in cryptocurrency.
How can you buy your dream car with Bitcoin or other cryptocurrency via AutoCoinCars?
As mentioned previously, AutoCoinCars gives access to thousands of premium luxury cars from high-end brands, such as BMW, Audi, Range Rover etc. With over 50,000 cars auctioned on the website, AutoCoinCars helps you connect with numerous dealerships to find the best deal. On top of that, it allows you to pay in any form of cryptocurrency you are comfortable with; be it Bitcoin or Ethereum.
Here is the step-by-step guide for buying cars with crypto on AutoCoinCars.
Step 1 – Sign Up
Once you visit the website: www.autocoincars.com, you will be required to create your account on AutoCoinCars by filling out the necessary details in the fields provided.
Step 2 – Verify your Account
Now it’s time to verify your account. Once you have signed up and provided the requested information, you will be asked to verify your account via email. Within a few seconds, a verification email will be shared with you. Once your account is verified, you will be able to proceed with your car purchase.
Step 3 – Add your Digital Wallet Information
Before choosing the car of your choice, you need to add your digital or crypto-wallet to your account on AutoCoinCars. If you are willing to use Bitcoin as a payment means, you can add your Bitcoin-powered card. It is more like a debit card that can be used for online payments from anywhere in the world. A BitPay card is linked to your digital wallet that is funded by Bitcoins. Similarly, if you want to pay in any other cryptocurrency, add your crypto-wallet information.
Step 4 – Choose your Vehicle
After adding your digital wallet information, you will now be able to choose a car of your choice from a large inventory of brand-new and used luxury cars on the website.
Step 5 – Collect your Invoice
Once you have selected your dream car and found the best possible deal, it is time to collect your invoice from the dealer. AutoCoinCars will get in touch with the dealer on your behalf to obtain the invoice for the car you are interested in buying. You can now collect your invoice from AutoCoinCars.
It is always good to directly contact the dealership yourself to ensure that you are actively kept in loop.
Step 6 – Book a Test-Drive
Before making the payment in the currency the dealer is comfortable with, it is always best to physically inspect the car yourself. Since transactions are digital and you are not physically involved in the car-purchase process, make sure that the car you are about to spend a large sum of money on is available in the best condition.
Step 7 – Make your Crypto-Payment
Once everything is confirmed and all the verification checks by AutoCoinCars are performed, you have to make the payment in cryptocurrency for your car using a crypto-wallet. Make sure you have the car registration document, invoice, and the sales slips. They are proof of your car ownership.
Now you can call yourself the owner of the car you always wanted to buy! Thanks to AutoCoinCars for making it a reality.
