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Cryptocurrencies in the automotive sector are growing by 1000%
Cryptocurrencies in the automotive sector are growing by 1000%
Crypto

Cryptocurrencies in the automotive sector are growing by 1000%

By Amelia Tomasicchio - 5 May 2020

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UK automotive company AutoCoinCars, which helps dealers accept cryptocurrencies as a payment method, has announced 1000% growth in vehicle sales despite the looming economic crisis.

In addition, many of the most famous car dealers have started accepting cryptocurrencies during this period, including Redline Specialist Cars, Saxton 4×4 and Benz Bavarian.

As AutoCoinCars operations director Luke Willmott explained, around 5 million people in the UK use crypto assets:

“Undoubtedly 2019 was a transformative year for cryptocurrency but throughout 2020, it is predicted to grow even further. Cryptocurrency is expected to become stronger as it operates globally at a time when most nations have closed their borders and are facing an economy seriously impacted by the COVID-19 crisis. This big jump in adoption rates from UK car dealers signals a clear shift in the industry. Retailers who previously operated through more traditional payment processes are recognising not only the added value that cryptocurrency brings to their business but also that it will completely transform the automotive trading industry, for the better. We are absolutely thrilled to be able to report a 1000% rise in sales over the past four weeks. With 5 million people across the UK already using cryptocurrencies, it is clear to see that the future of automotive trading is through cryptocurrency. We are proud to be exclusively offering some of the country’s top car dealers a safe and secure method of selling their stock without losing a penny.”

Founded in 2019, AutoCoinCars is one of the first companies to provide this type of service.

“The demand across the UK speaks for itself and we are confident that we can continue to grow our offering and expand our client base throughout the remainder of the year and beyond.”

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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