U.S. Porsche dealership starts accepting Crypto as a mode of payment

U.S. Porsche dealership starts accepting Crypto as a mode of payment

BitPay, a bitcoin payment service provider headquartered in the United States, has recently revealed that Porsche Towson, a premier Porsche dealer serving in the Baltimore area in the United States, has started accepting payments in the form of cryptocurrencies like Ethereum, Shiba Inu, Bitcoin among others.

In a recent tweet, Bitpay was quoted saying consumers can now turn Crypto into precious metals at Porsche Townson as the dealership would now accept Crypto as a mode of payment over vehicles purchase.

The company also revealed that the Shiba Inu community could use their Shiba Inu coins via their BitPay debit card at various physical stores and Walmart.

A broad range of Porsche vehicles are available at Porsche Townson, both new and pre-owned, with numerous configurations.

Notably, this is not the first time when a self-governing car dealership has chosen to use cryptocurrency as a mode of payment. Last year, a Puerto Rican-tech firm, Bots Inc., supported local dealership to accept DOGE for secondhand Tesla Inc.

Last year, Tesla stated that it would be starting to accept payments in bitcoin for its products, reassuring that it would be the very first automaker to consider this. However, given the environmental concerns around mining digital coins, the company further stepped back from its decision.

Currently, Tesla is not accepting any cryptocurrency directly for purchasing vehicles but still accepts Dogecoin as payment for purchase via its website.

About BitPay

Founded by Stephen Pair and Tony Gallippi in 2011, BitPay makes business payments easier with Bitcoin. At present, it has around 10,000 merchants using its services for crypto transactions.

According to the firm, it is one of the largest bitcoin payment processors globally, which is currently serving businesses on 6 continents.

Source Credit - https://www.businesstoday.in/latest/trends/story/porsche-cars-now-available-for-sale-using-crypto-as-payment-heres-more-330545-2022-04-20