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Why Car Dealerships should accept Crypto Payments

Evaluating the current environment surrounding payment processing in 2021, the waiting period for processing can be prolonged by traditional methods and systems - customers are looking for a simple and easy experience when shopping.

Wouldn't it be wonderful if dealerships could also share this experience when selling?

There are currently several ways dealerships can accept payment.

For example, a direct transfer from the bank, paying cash or setting up monthly instalments to set up a finance agreement.

However, we are going to explore another method of payment that so far, has been working very well for the independent used car businesses - cryptocurrency

It is important not to ignore what is emerging in the currency world. There has been a huge rise in the number of cryptocurrency users.

However, they have only a few places where they can spend their money. This is where the opportunity for business begins.

There is a link between the typical cryptocurrency holder and the target audience of people interested in buying a new or pre-owned vehicle.

Therefore, it is evident that there is a gap in the market and it would be in the best interest of dealerships to start accepting cryptocurrency as a means of payment.

Our own research suggests that there is a fear and misunderstanding of this type of transaction which we are here to bust!

This is a legitimate payment method, one that AutoCoinCars completes with due diligence, no fees and payment of the invoice in GBP.

The processing time is virtually instant. Transferring funds from the buyer’s cryptocurrency wallet to the dealership's account will take just a few seconds.

According to Forbes, "there would need to be a catastrophe for Bitcoin not to rise by the end of 2020" and they were right!

In addition, the market is being watched and analysed and it was Bloomberg’s senior commodity strategist, Mike McGlone, who stated that "the price of bitcoin is expected to continue to grow".

Current cryptocurrency users will be profiting largely from the peak taking place at the end of 2020. Even as we begin this new year, the value has continued to rise.

Therefore, creating a method of payment where they can exchange their digital assets for a physical product would be a profitable opportunity for all car dealerships.

Eventually, cryptocurrency users are going to want to cash out after this peak. In the present day, is an example of the few businesses that offer an exchange for a physical product within the UK.

Most users find that they have more power with their money and are provided with confidentiality, something that is not available when using traditional banking systems or payment methods.

By adding this fast, easy and secure payment process to your accepted transaction methods will ensure more sales to potential customers that would otherwise have looked elsewhere to dispose of their funds.

Dealerships can maintain the more traditional forms of payment but add cryptocurrency as an option for those users who continue to look for somewhere to spend it.

If you want to sign-up and bring your business into the future click here and start accepting crypto payments today!

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