The second-largest cryptocurrency by market capitalization, Ethereum (ETH), has been accepted as a form of payment in the first cryptocurrency-based car sale transaction at Jeff Wyler Automotive Family.
According to the story, a Saudi Arabian client used Ethereum to pay for his Mercedes-Benz S580 in 2021. (ETH). According to the report, the process was far faster than any wire transfer. Thanks to the usefulness built in cryptocurrencies, the client was quite satisfied with the process's simplicity, convenience, and quickness.
David Wyler, President of the Jeff Wyler Automotive Family, reacted to the latest news by saying:
“We take pride in leading the industry wherever it makes us more consumer-facing. And accepting cryptocurrency provides payment flexibility and faster sales transactions for our customers.”
At its 23 locations in Ohio, Kentucky, and Indiana, the Jeff Wyler Automotive Family currently accepts up to 12 different digital currencies, including the flagship cryptocurrency Bitcoin (BTC).
Part payments are permitted for clients who use their preferred cryptocurrency or a combination of cryptocurrencies, according to the report.
It should be noted that the Jeff Wyler Automotive Family has been in business since 1973. In terms of annual sales, the company ranks in the top 50 out of approximately 17,000 franchised shops.
Cryptocurrency acceptance is increasing.
Cryptocurrencies acceptance is obviously increasing around the world, as many establishments are now accepting cryptocurrency as a form of payment, allowing consumers to spend their digital currencies with ease.
BitPay is now used by companies such as Newegg, SlingTV, Twitch, Jomashop, APMEX, American Cancer Society, Namecheap, and the Dallas Mavericks to take cryptocurrency payments.
In addition, Baltimore's sole exclusive Porsche facility, Porsche Towson, has announced a partnership with cryptocurrency payment processor BitPay. Clients can now purchase Porsche using a variety of digital currencies supported by BitPay, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), and others.