New practical usage instances of crypto payments are coming up constantly! Cryptocurrency holders in the US can now buy their car with Bitcoin!
HGreg, a Quebec-established car store giant with thirty locations in North America, will start accepting crypto payments for new or pre-owned cars from March this year.
The car dealer, headquartered in Quebec and Florida, is turning into one of the pioneering major automotive groups to embrace virtual asset payments in its day-to-day operations. The firm claims to have sold 500k cars during the last twenty five years and operates a factory in Miami with more than a thousand vehicles.
A part of sales revenues created in crypto will be held in this way by the firm, which suggests that it expects to keep digital assets such as BTC on its balance sheet.
With regard to the acceptance of cryptocurrency payments, the dealership said they are at the forefront of new tech, offering their customers a new payment choice. They also agree that it would be useful to keep some of their investments in cryptocurrencies.
The dealership sells a vast range of used vehicles, stemming from Hyundai to Lamborghini. In addition to luxury vehicles, crypto consumers may then utilize their money to purchase practical cars. HGreg says to have the biggest vehicle inventory in Canada.
HGreg’s decision to embrace crypto payments comes right after Tesla’s entrance into the BTC sector. The vehicle producer allocated 7.7 percent of its gross cash position to BTC. The firm has also announced that it will start to accept Bitcoin as payment.
Although cryptos are largely within the investment domain, the payment system is progressively incorporating virtual assets. OLB Group just recently allowed crypto payments to thousands of U.S. retailers, enabling businesses to accept BTC, Ether, USD Coin and Dai.
A vehicle enthusiast who spent thirty seven BTCs on two second-hand Hondas in 2017 may wish he had waited…