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Author Topic: How soon will automakers start accepting crypto for there payments  (Read 204 times)
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July 25, 2018, 10:55:09 PM
 #41

very soon. autoblock ico in uk already got plenty of second hand dealerships waiting for the mainnet launch.
We are really growing now and for sure this is not the first place for this kind of business who accepts cryptos as mode of payment. I know this will happen in time, so for now better to use your fiat money and hold on your cryptos it will become more valuable soon.

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July 25, 2018, 11:06:06 PM
 #42

Didn't know if some company was accepting bitcoin as a payment way because 2 years ago people were dreaming it. On another hand, why to pay with bitcoins? Isn't it very risky? One mistake in adress or etc and your bitcoins are lost + you can't get bitcoins back. Also as you see, old people don't know much about bitcoin + don't trust this, to my mind it's the reason why bitcoin isn't accepted by autodealers because there is almost zero demand.

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July 26, 2018, 05:03:23 AM
 #43

If this people can be accepting crypto payment it will be great to cryptosystem. However, it is a dream come through if such things started with them. I have heard that some set of people now accept crypto but I don't know how really it is now. I can not wait to see this dream realizes.

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July 26, 2018, 09:30:58 AM
 #44

Unless the car manufacturer is a cryptocurrency whale, LOL, most merchants are reluctant to accept such payment methods due to the instability of the cryptocurrency! Because they are not willing to take risks!

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July 26, 2018, 10:15:25 AM
 #45

So many merchants are accepting crypto as a their payment method.But nowadays most of them are unfamiliar with crypto with the market crash

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July 26, 2018, 03:57:13 PM
 #46

This has been my concern here in my  own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments
I think that merchants will not accept crypto currency soon. Now most governments are trying to get away from cash and switch to paying by cards to control all cash flows. When paying for crypto currency, governments will not be able to exercise control.
The same is in my country. I cannot use my crypto anywhere in my country because nobody is accepting cryptocurrency. So till that time I will hold my coins and will try to make more and more money because it is also a business and I can make huge money from my holdings in the future. I am not panic about the use of bitcoin in my local markets.
Many countries still have restrictions on cryptocurrency but I think in the future when these countries are aware of the advantages of blockchain and cryptocurrency technologies. I now know that many countries are utilizing cryptocurrency as a way to change the country's economy.

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July 26, 2018, 04:36:11 PM
 #47

Even in such general stores, you might find it rare or none that some vendors accept Bitcoin as a payment. It isn't that just convenient yet to get the recognition of being a medium of profit or revenue for them. The price is too volatile to be realized as a profit. Assuming you'll have a service amounting to .01 BTC. That amount will vary always, depending on how the crypto market is going lately. I wouldn't say you will be put into a loss when you only accept Bitcoin as a payment method but the chances are that you will not get the 100% out of your revenue because you will still realize it into fiat cash and that takes up processing time and fee.

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July 26, 2018, 05:51:24 PM
 #48

In a recent thread came to know about BMW's acceptance of bitcoin. Maybe there is no official statement mentioning the acceptance of bitcoin for services. Already there were some real life store accepting bitcoin, but the acceptance from large scale companies will be talked big and supports with the acceptance of bitcoin from different other companies.

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July 26, 2018, 07:11:43 PM
 #49

This has been my concern here in my  own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments
Anything would really takes time and not only your country is having that kind of thing where majority doesn't have the full adoption or acceptance of crypto into business which isn't surprising but if we do compare the adoption of this years compared to last years then we would able to see a significant change on numbers which is really a positive thing for us crypto holders but for now we cant do anything but to wait up on such acceptance. If Nigeria is not too strict to crypto then anytime soon you would able to find one.

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July 26, 2018, 10:00:11 PM
 #50

Didn't know if some company was accepting bitcoin as a payment way because 2 years ago people were dreaming it. On another hand, why to pay with bitcoins? Isn't it very risky? One mistake in adress or etc and your bitcoins are lost + you can't get bitcoins back. Also as you see, old people don't know much about bitcoin + don't trust this, to my mind it's the reason why bitcoin isn't accepted by autodealers because there is almost zero demand.

It's correct. If you want to pay with electronic money or Bitcoin, then we have to give the community trust in them.
Then it is possible to apply such a payment model
However, I think it is not possible at this time
If there are also only a few branches performed negligible
Therefore, electronic money needs to attract the community and give the community peace of mind then apply to the payment of car purchase.

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July 28, 2018, 11:15:59 AM
 #51

The point is these are businesses that are very particular about the profits they make,they won't want to mess around with that.The volatility of cryptos make them distasteful for many businesses at the moment.Im sure with time most will start accepting cryptospace until then let Fiat lead the way
If we look at the today’s situation of the market, then we will find out that the market is not favouring the crypto currencies especially bitcoin much as there are not so many places which are accepting the bitcoin as mode of payment. However, this does not certainly mean that this will always remain the same and that we can expect for much better days in the future.

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July 31, 2018, 09:01:45 AM
 #52

This has been my concern here in my  own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments
maybe not all car dealers can accept bitcoin as payment, only those who already understand about bitcoin, and those who live in countries that already recognize the existence of bitcoin. because I have also heard an article about a car company that started receiving bitcoin as payment. maybe you can look it up on the internet. there is one of the luxury car companies that accept bitcoin.

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July 31, 2018, 09:16:07 AM
 #53

This has been my concern here in my  own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments

It depends on how widely Bitcoin is used in Nigeria.
Keep in mind that the dealers may still have to receive local currency to stay legal and correctly pay the taxes. So we need a payment processor.

If the use is "big enough", one of the two scenarios will happen:
1. A local payment processor, that already works with VISA and Mastercard, will offer Bitcoin payments in their portfolio. When that happens, many will be able to easily incorporate Bitcoin payments in their business, including the auto dealers.
2. A local auto dealer will be bold enough to use something like BitPay, even if it's from outside Nigeria, but they can offer Bitcoin payments and the dealer will get legally local currency.

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July 31, 2018, 09:39:24 AM
 #54

Not now but soon when bitcoin is well known throughout out the world for now it's still in a developing stage and it's getting bombard by regulations and restrictions in social media platform and governments. But merchants and institutional investors are growing and one by one their started to accept it and invest in it.

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July 31, 2018, 11:11:16 AM
 #55

   There are only few country that accept bitcoin as payment in automakers or car dealer as of now. Maybe that is because of the volatility of bitcoin but lucky are those countries that can use their bitcoins as payment when they buy a car. Hope someday that even in our country bitcoin will be widely use a s payment method in different companies not only for car company but also in other company that selling different goods and services.

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August 10, 2018, 07:42:00 PM
 #56

Should be soon enough especially with the times nowadays, it's incredible!
I really dont think its soon enough, though Nigeria is one of the biggest market in africa getting automakers to accept bitcoin will be hard and i am sure majority of this dealers are waiting for more advanced countries to adopt bitcoin as payment. I would say fiat is more accepted and will be for a long time.

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August 10, 2018, 08:47:05 PM
 #57

The owner of the gilded Rolls Royce Ghost now living in Oldham, Greater Manchester, said: "Why not trade with Bitcoin? I see this currency as a normal currency today. "
Sales car services to payment by Bitcoin virtual currency will take the throne in 2018.

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August 11, 2018, 08:09:03 AM
 #58

In a recent thread came to know about BMW's acceptance of bitcoin. Maybe there is no official statement mentioning the acceptance of bitcoin for services. Already there were some real life store accepting bitcoin, but the acceptance from large scale companies will be talked big and supports with the acceptance of bitcoin from different other companies.
Well, maybe automakers are making time to study cryptocurrency or blockchain technology to confirm if this innovation can really help to improve their company.

In fact I saw a recent ICO about vehicle. You can actually check this one,
http://fonstavka.com/index.php?topic=4856759.msg43782240#msg43782240
I’m not part of this campaign neither the team, I’m just sharing some project about the topic and maybe this is the beginning of this kind of acceptance with the automaker/autodealer.

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August 12, 2018, 06:45:28 PM
 #59

Not anytime soon unfortunately, for all Automakers have a supply chain of many thousands of suppliers, unless and until their supplier network also takes bitcoin then they won't generally accept it -this is due to the cash flow implications for the business.

You may well find that some dealers may take bitcoin (especially for difficult to sell vehicles, bad colour/spec etc) as it could be beneficial to them, especially if bitcoin price is rising.   

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August 12, 2018, 08:55:31 PM
 #60

This has been my concern here in my  own country Nigeria. No auto dealers or automakers has ever accepted any crypto particularly BTC for purchase payments
Well in some developed countries, where technology is really advancing and always embressed, wholeheartedly, You can purchase a car and pay with Bitcoin. Some Car producing companies in US, Dallas, Kasas etc. announced their acceptance of Bitcoin for car purchase.
Almost anything can be purchased with Bitcoin nowadays, and Car purchase is not exempted.

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