Car For Coin is an auction site where you can buy luxurious cars. They also offer bitcoin payments.
Another example of cryptocurrency adoption is PacSun, a fashion brand.
It’s possible to pay for Tesla again in Bitcoin
Tesla suspended bitcoin payments for electric vehicles due to energy consumption. However, Car For Coin, an online marketplace for exotic cars, has granted this opportunity again.
A recent press release stated that the auction site, which sells high-end cars such as Tesla, McLaren and Ferrari, allows customers to pay in US Dollars or bitcoins to purchase some of these sports cars.
The Porsche 911 GT3 is the most expensive at $110,000, or 2.02 BTC. This price was calculated using today’s prices. Tesla Model S can be purchased for $35,000, or 0.64 BTC.
Tom Hegedosh, the founder of Car For Coin, explained in detail how crypto payments can be used to fund the new offering.
Auctions are a time when bidders and buyers don’t have to worry about crypto’s volatile prices. Because of the familiarity with the fiat currency’s price, all bids and auction prices will be listed in USD. After winning the auction, buyers can choose to purchase Teslas or other vehicles using crypto currency or traditional currency. We’ll convert crypto if the seller doesn’t accept it.
Justice Conder, a Crypto Expert at the company, doesn’t recommend buying luxury vehicles in bitcoin. The primary cryptocurrency is an important asset that people should preserve for the future. Altcoins, which are more risky, might be a better option.
PacSun also caught the crypto wave
PacSun is another company that allows digital asset settlements. PacSun, a major retailer and brand in fashion and retail added bitcoin and other cryptocurrency using BitPay, the most popular blockchain payment provider.
These are Ethereum (ETH), Bitcoin Cash(BCH), Wrapped Bitcoin Cash (WBTC), Wrapped Bitcoin Cash (WBTC), Litecoin [LTC], Dogecoin [DOGE]) and five USD-pegged stablecoins GUSD, USDC and USDP (DAI, DAI, USDP and BUSD). Brieane Olson, President of PacSun – commented:
“Digital sales have doubled since last year. We understand the importance of providing an outstanding online shopping experience for customers.”
The California-based retailer clothing brand was created for young adults and teens. According to Michael Relich, PacSun’s Co-CEO, PacSun’s move is highly perceptive because younger generations are more interested in technological innovations and digital currencies.
“Our primary customer, Gen Z, is tech-oriented. We dedicate a lot to social media and ecommerce to match their lifestyles and connect with them on an individual level. We knew that they were becoming more interested in cryptocurrency and we had to adapt to offer BitPay as an alternative payment option.
Crypto Children’s Fund – Donations
The Nicklaus Children’s Hospital Foundation announced that digital assets can be used to make donations.
The following cryptocurrencies will be accepted by the non-profit charity that focuses on better healthcare for children: Bitcoin, Ethereum and Bitcoin Cash, Dogecoins, Litecoins, Basic Attention Tokens, Amp, ChainLinks, Dai, The Graphs, Gemini Dollars, Stors, UMA, Zcash and many more.
The IRS considers cryptocurrency donations property. This means that they are exempt from capital gains taxation. The foundation allowed people to tax-efficiently support its mission. Nicklaus Children’s President – Michelle Boggs – commented:
We are thrilled to accept cryptocurrency as a method of donating to the families and children we serve each day. We believe that this new method of giving will allow us to reach more people who wish to support our hospital’s life-saving work. It is also fast, simple, and secure.
Marla Brooks – Financial Analysis
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