Bitcoin is one of the hottest cryptocurrencies in the blockchain. It is a digital currency that uses a decentralised system to make online transactions. Originally, it was the concept of a person who goes by the alias “Santoshi Nakamoto” 2008 on May 3. It is used to buy, sell or exchange goods or services without an intermediary or centralised authority such as banks. A public ledger records every Bitcoin transaction, making it difficult to reverse or counterfeit. Blockchains store information in a way that makes it difficult to alter, hack, or cheat the system.
Read more: How to buy cars with bitcoin?
The value of Bitcoin has increased drastically since it was launched in 2009. The price of 1 BTC has risen from under $150 per coin to around $30,200 as of June 8 2022. There are currently more than 19 million coins in circulation.
How does it work?
Cryptocurrencies such as bitcoin are based on distributed digital records called blockchains. Blockchain is an immutable ledger of transactions duplicated and distributed over the entire network. A digital chain of blocks is created by connecting entries chronologically.
Did you know?
In 2010, a 19-year-old man named Jeremy Sturdivant purchased 2 large Papa John’s pizzas for 10,000 BTC, which is USD 365 million today. Fascinating, isn’t it? It will always go down in history as one of the most unusual purchases.
What can we buy from bitcoin today?
Back in its inception in 2008, people were spectacle about its authentication. However, with time it gradually changes people’s perspectives worldwide due to the rapid change in online transactions.
By 2030, the intensity of using physical money to buy lands, cars or anything will decrease due to the rise of cryptocurrency.
What if you could buy a car using bitcoin? Sounds like a dream, right? The short answer is yes, you can via AutoCoinCars. It is one of the largest online car dealerships that lets users buy a used or a brand new car using bitcoin and other cryptocurrencies. There are approximately 50,000 vehicles auctioned on the website.
It uses the practical application method of purchasing a car with bitcoin and excludes the hassle of finding an appropriate online car dealership. Exotic brands like Mercedes, BMW, Audi, Ferarri, Maserati, Lamborghini, Rolls Royce, and Tesla are auctioned.
Bitcoin is widely used to make online purchases, whether video games or cars.
Now you must be wondering how to purchase a car on AutoCoinCars. Follow these key steps and get the car you want to buy using bitcoin.
Step1: Get in touch with us and check if the car you want is listed. You can call us or even talk directly with the dealership.
You can also have a test drive of your preferred vehicle to inspect it thoroughly.
Step2: To buy a car on AutoCoinCars, you must have your online sign-up via the customer sign-up form on our website.
Step3: The third step involves the verification process, once we verify your identification, you are good to go to purchase the vehicle you want.
Step4: AutoCoinCars will contact the car dealership to request the invoice for the vehicle you wish to purchase. They will also send you the invoice.
Step5: Once the invoice is received, we will complete a final verification check by calling you to confirm the details.
Step6: The test transaction is usually to the value of £5-10 for us to ensure that you have entered the cryptocurrency wallet ID correctly before sending the full payment. This step eradicates human error or any other risks.
Step7: Once they receive 3 confirmations on the blockchain from the test transaction, they will work out a live rate in your chosen cryptocurrency from our accepted cryptos, and we lock the price in for 30 minutes.
Step 8: Once AutoCoinCars has received the payment, we will contact you and the dealership to confirm that the cryptocurrency payment has been received.
In 2017, its CEO Mustansar Iqbal originally wanted to ease the buying and selling process of cars. After 5 years of dedication and devotion, he has made it possible to buy a dream car with bitcoin. AutoCoinCars is one of the few online car dealerships accepting cryptocurrency as payment.
With Christmas right around the corner, giving a car to your loved one would be the greatest gift. Imagine telling your loved one that you bought them a car using digital currency will definitely astound them. You can use the AutoCoinCars platform to buy a car with digital money instead of doing paper works and other time-consuming things.