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How to buy a car with bitcoin
How to buy a car with bitcoin
Bitcoin

How to buy a car with bitcoin

By Marco Cavicchioli - 6 Jan 2019

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Is it possible to buy a car by paying in bitcoin? The answer is Yes.

For example, a dealer in Houston, Texas, accepts crypto payments. He even sold a Bentley paid for in bitcoin.

Bitcoin can be used like any other currency if the seller accepts 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.

However, it should be added that not many people agree to sell their car in exchange for cryptocurrencies.

For example, on the BuySellCarWithBitcoin.com website, you can post ads for selling cars in exchange for bitcoin, but there are less than 50 in the US and only 34 in Europe.

If you compare these data with those of any car buying and selling portal, you will notice an abyssal difference.

buy car with bitcoin

On SpendBitcoins.com, on the other hand, there are only 28 dealers throughout the US who are willing to accept bitcoin as a form of payment, so even official dealers of new cars do not seem very inclined to accept the cryptocurrency as a means of payment.

In many countries, there are no obstacles that prevent you from using bitcoin to buy a car from a legal point of view, whether the car purchased from a private individual, perhaps used, or it is instead a new car purchased from a dealer.

The problem is only to find a seller willing to accept cryptocurrencies as payment.

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.

Another way would be to actually pay in fiat currency, but supply the payment with cryptocurrencies, meaning that the buyer uses cryptocurrencies, while the seller receives fiat currency.

To do this, a currency exchange is required, which can be done by the buyer, the seller or an intermediary.

However, this would not be an actual cryptocurrency payment and would certainly require an additional charge for the exchange.

However, if the mass adoption of bitcoin were to become a reality, the number of sellers willing to accept it would increase considerably, in which case the choice for buyers could increase exponentially.

Until now though, this has not been the case.

Marco Cavicchioli
Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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