How to Buy a Vehicle With Crypto

How to Buy a Vehicle With Crypto

We have all met those individuals who are convinced that buying any amount of cryptocurrency today, guarantees that you can buy a brand-new supercar tomorrow. Of course, this is not exactly the case. Cryptocurrency trading, holding, shorting, gaining, and eventually using for real world purchases is absolutely a great way to increase your net worth and purchasing power. Realistically, full-time cryptocurrency trading is hard work. It requires the same level of dedication, tenacity, and effort that any other tech job would require. In this article, we will take a look at how successful crypto investors can purchase their dream cars, directly from their crypto gains!

Bitcar.eu

There are two kinds of exotic car dealerships in the world of cryptocurrency: Those which accept all cryptocurrencies and those which only accept Bitcoin. Either way you slice it, both options are pretty cool, when you are looking to purchase a new ride with your digital currency.

The first company on this list is Bitcar.eu. Bitcar.eu was founded back in 2016, by a group of individuals who started the online jewelry store Bit Dials that same year. Bit Dials started early in 2016 and made a name for itself by accepting Bitcoin, in exchange for jewelry. The creators of Bit Dials essentially took that same business plan and applied it to the exotic car market. The first vehicle sold by Bitcar was a Rolls Royce Dawn, with all black aftermarket tuning done by the Germany-based luxury car modification firm Mansory. These days, Bitcar has expanded their fleet to offer a wide variety of supercars, luxury sedans, luxury SUVs, and vintage American classic rides. Bitcar is not for everyone. This is a company which offers luxury tastes, specifically to customers with hefty Bitcoin wallets. This company also offers luxury motorhomes, off-roading vehicles, luxury motorcycles, and even yachts to those who can afford them. That being said, anyone other than cryptillionaires need not apply.

Ideal Car Strategies

It is far easier to find luxury car dealerships which accept cryptocurrency than it is to find regular car dealerships that do the same. This is because luxury car dealerships are made to entice big spenders and savvy investors. Luxury car dealerships know that cryptocurrency is typically where the smart money lies, ergo they often aim to appeal to those of us in the cryptocurrency community.

Not all cryptocurrency-accepting car dealerships are centric to luxury vehicles. There are many physical dealerships around the world which accept Bitcoin, and in many cases, many other cryptocurrencies in exchange for an everyday set of wheels. Ideal Car Strategies is a service which helps buyers locate any and all varieties of car dealerships which accept cryptocurrency as payment, regardless of whether you are looking for a daily driver, or something a little more exotic.

How Buying a Vehicle With Crypto Works

Buying a car directly with your cryptocurrency gains can be either advantageous, or foolish, depending on what you are expecting to get out of your cryptocurrency. Although buying a car with crypto is the digital asset equivalent to earning a blackbelt in coolness, direct cryptocurrency purchases of vehicles tend to lie in favor of the dealership, rather than the customer. This is because dealers who are willing to sell vehicles in exchange for cryptocurrency often charge a premium, so that much of the risk regarding the volatility of cryptocurrency falls into the hands of the purchaser.

Buying a car using cryptocurrency could potentially be a solid investment decision, depending on how the market is behaving at the time of purchase. Considering how Bitcoin is currently valued around $60 thousand at the time of writing this article, purchasing a car with Bitcoin right now would be great for you and bad for the dealer, if the price of Bitcoin were to drop. Positive Bitcoin price action could be looked at as a detrimental situation, if you were to buy a $60 thousand car, and the price of Bitcoin increases.

Conclusion

The most important thing to consider is the fact that cryptocurrency, or any currency for that matter, only truly has tangible value when it is spent on goods or services. That being said, any price fluctuations which occur after purchasing a vehicle with cryptocurrency fall under the category of FOMO. Be sure to check out the Killer Whale Products Page to find the Killer Whale signals and strategies which are right for you!