Cryptocurrency has brought a drastic change to how the financial world functions. With a standard smartphone and a stable internet connection, anyone in the world can have access to the modern digital economy. Virtual currencies are capable of including everyone in the financial ecosystem and restore financial equality across the globe. About 2 million people, who never had access to banks and traditional financial institutions, now have the chance to be empowered. To put it simply, almost everyone on the planet now has the opportunity to access and use digital money for selling, buying, and exchanging goods and services. Nearly everything can be traded in cryptocurrency in today’s world.
Speaking of crypto-tradable items, did you know that you can buy luxury cars with Bitcoin? Sounds unreal, right? However, this is true. That is yet another lucrative opportunity that comes with digitalisation. As long as you are holding digital currency, buying your own luxury vehicle is not far from reality. However, many crypto-holders are still unaware of how they can make a car-purchase via digital money in 2023. Before we uncover the steps of buying high-end cars with Bitcoin in detail, let us grab some insights on the benefits of using Bitcoin.
What is Bitcoin?
Just as other cryptocurrencies, Bitcoin is a digital currency that is used as a medium of exchange to buy and sell goods and services. Unlike fiat currency, it is non-tangible and does not exist in physical form. Bitcoin is the first ever form of cryptocurrency created by Satoshi Nakamoto in 2009. Of over 19,000 cryptocurrencies in existence, Bitcoin is the most notable and widely recognised form of cryptocurrency. Similar to how other digital currencies work, Bitcoin uses a decentralised system. This allows people to transact directly with each other in a peer-to-peer network without a third party interfering. In other words, crypto-based transactions do not rely on an intermediary, such as a bank or centralised authority. Moreover, Bitcoin uses cryptography to secure transactions.
Benefits of using Bitcoin to pay for cars.
Being a major player in the crypto-world, Bitcoin has been gaining considerable traction in the automotive industry for a while now. After Elon Musk made a revolutionary announcement regarding Tesla being open to accepting Bitcoin payments, the number of automakers accepting crypto-payments grew sharply. This is a clear indication of how beneficial Bitcoin and other cryptocurrencies are, especially when it comes to buying automobiles.
Bitcoin’s decentralised nature is what makes it extremely appealing to both car dealers and buyers. Both the parties are unaccountable to a bank or any regulatory authority. This way, transactions not only become easy and quick, but they also do not involve any intermediary fees. Rather than running into banks and getting into unnecessary paperwork and delays, you can save your precious time and money by making crypto-based transactions.
Moreover, Bitcoin buys you a high level of security and confidentiality. As Bitcoin uses blockchain technology, all your transactional records are stored on the digital ledger. This allows the transactional information to be kept private and encrypted. Another layer of security is added when transactional data is permanently imprinted on the blockchain, which ultimately does not leave room for manipulation in any way. All of this matters a lot, especially when you are purchasing a costly high-end vehicle.
Now, let us head to the primary topic of how you can purchase luxury cars with Bitcoin. If you are wondering which reliable car dealership platform to get in touch with, look no other than AutoCoinCars. With over 5,000 car dealerships on board, AutoCoinCars allows you to access a large inventory of more than 50,000 premium luxury car brands auctioned on the website. Some of the high-end luxury brands are Porsche, Rolls Royce, Audi, Mercedes, BMW, Range Rover, Bentley, Lambhorgini etc.
Steps to Buying Luxury Vehicles with Bitcoin on AutoCoinCars.
Step 1 – Enquire
If you already have a premium car you wish to buy in mind, you can inquire AutoCoinCars about it via a call, an email, or through their website. You can even directly get in touch with the dealership.
Step 2 – Sign Up
In order to make any purchases with AutoCoinCars, you are required to set up your account as a customer on AutoCoinCars website. After filling out the requested information, you will be asked to verify your email address and other details.
Step 3 – Verification
A verification email will be sent to you. You just need to check your email and click the link or code to have your account verified. Software named Veriff is used by AutoCoinCars to confirm the details you provide.
Step 4 – Invoicing
On your behalf, AutoCoinCars will contact the car dealership to request the invoice for the luxury vehicle you are interested in buying. The collected bill receipt will also be shared with you.
Step 5 – Adding your Digital Wallet
Now, it is time to add your digital wallet information to your AutoCoinCars account. You can enter your BitPay card or any crypto-powered card.
Step 6 – Inspecting the Vehicle
Before you make the final payment, it is always best to have the vehicle you wish to purchase physically inspected. You can request a test-drive to figure out if the car is in the best of conditions.
Step 7 – Making the Payment
Once you have test-driven the car and you are satisfied with its condition, you can now pay for it via digital wallet.
Step 8 – Collecting the Car
When you have made the payment, AutoCoinCars will make a final verification call to you and the car dealership to ensure if the transaction has been made successfully. A sales receipt will be released to you along with a brand-new luxury car of your choice.