Car For Coin – an auction website where users can buy luxury cars – also offered bitcoin payments as an option.
Another example of the latest adoption of cryptocurrency is the fashion brand – PacSun – and the charitable organization – the Nicklaus Children’s Hospital Foundation.
Paying for Tesla in BTC Is Possible Again
Although Tesla has suspended Bitcoin payments for its electric cars, citing energy consumption as the cause, the online marketplace for exotic cars – Car For Coin – has given that opportunity once again.
According to a recent press release, the auction site, which lists high-end cars like Tesla, Porsche, Lamborghini, McLaren, Ferrari and more, allowed customers to pay in US dollars or its equivalent in Bitcoin to get some sports. cars.
As of now, the most expensive car is the Porsche 911 GT3 exclusive that costs $110,000 or 2.02 Bitcoin (calculated at today’s prices). Speaking of Tesla, one can buy the Model S of the brand for $35,000 or 0.64 Bitcoin.
Tom Hegedosh – founder of Car For Coin – detailed how people can use crypto payments in the new offer:
“During the auction, bidders and sellers do not have to worry about fluctuating values of cryptocurrencies. All bids and auction prices are listed in US dollars due to knowing the value of fiat currency. Buyers can choose to pay for Teslas and other vehicles in cryptocurrency or fiat currencies after they win the auction. If they don’t accept The seller of the cryptocurrency, we will convert it; that is not a problem.”
On the other hand, Justice Conder, the firm’s cryptocurrency expert, does not recommend paying for luxury vehicles directly with bitcoin because the underlying cryptocurrency is a tangible asset that people should hold in the future. Alternatively, risky altcoins could be a more suitable option.
PacSun also caught a wave of encryption
Another company that has enabled digital asset settlement is PacSun. A major fashion and retail brand has added bitcoin and other cryptocurrencies using the leading blockchain payment provider – BitPay.
They are Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin (WBTC), Litecoin (LTC), Dogecoin (DOGE) and 5 stablecoins pegged to the US dollar (GUSD, USDC, USDP, DAI, and BUSD). Brieane Olson – President of PacSun – commented:
“With digital sales doubling since last year, we understand the continued importance of creating an exceptional online shopping experience for our customers.”
The California-based retail apparel brand is designed for teens and young adults. The fact that younger generations are more geared towards technological innovations and cryptocurrencies makes the PacSun move a very good prospect according to co-CEO Michael Relich:
“The Gen Z audience, our primary consumer, is very tech-oriented, and we dedicate a lot of our efforts towards social media and e-commerce to align with their lifestyles and resonate with them on a personal level. With their growing appetite for cryptocurrency, it was clear that we needed to adjust. and offering BitPay as another payment option.”
Donations to children in crypto
The Nicklaus Children’s Hospital Foundation also announced that people can now donate digital assets.
The non-profit charitable organization focused on providing better healthcare for children will accept the following cryptocurrencies for its cause: Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, Litecoin, Basic Attention Token, Amp, ChainLink, Dai, The Graph, Gemini Dollar, Stor, UMA and Zcash And more.
Since the IRS classifies cryptocurrency donations as property, which means that they are not subject to capital gains taxes, the foundation has enabled people to support its mission in a tax-efficient manner. Niklauss Head of Children’s – Michael Boggs commented:
“We are very excited to start accepting cryptocurrencies as a way to donate for the children and families we serve on a daily basis. We hope that by adding this method of giving, we will reach more people who want to support the life-saving work in our hospital, and do so in a fast, easy and secure transaction.”
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