If you sell cars for a living, chances are you’ve already had customers who want to pay with crypto or finance a vehicle using their crypto as collateral. Why wouldn’t you accommodate them?
A guy walks into a dealership. He wants to buy two cars for his two daughters. He asks the salesperson if he can pay with Bitcoin and shows off a digital wallet with a balance of $200 million. The salesperson tells the guy the dealership can’t take Bitcoin. The guy leaves.
Unfortunately, this is not a joke. This is a true story that illustrates how mainstream cryptocurrency has become, and how many dealerships are ill-equipped to leverage this new form of payment.
Sure, the guy could have sold some of his crypto, converted it into dollars and transferred it to his bank. He could have gone to the bank to get a cashier’s check and then come back to the dealership three days later to buy the cars. But he didn’t. He wanted to pay with crypto. Had the dealership been set up to take crypto, the transaction would have taken only a few minutes.
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