Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has been accepted as a means of payment in the first car sale transaction using crypto at Jeff Wyler Automotive Family.
According to the report, the client from Saudi Arabia paid for his 2021 Mercedes-Benz S580 using Ethereum (ETH). The report says the process was significantly faster than any wire transfer. The client was very pleased with the simplicity, convenience, and speed of the process, thanks to the utility embedded in cryptocurrency.
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Reacting to the new development, David Wyler, President of the Jeff Wyler Automotive Family, said:
“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.”
Currently, the Jeff Wyler Automotive Family accepts up to 12 different digital currencies, including the flagship crypto Bitcoin (BTC), at its 23 dealerships located in Ohio, Kentucky, and Indiana.
The report added that part payments are allowed for clients using their choice of crypto or a mix of cryptocurrencies.
It’s worth noting that the Jeff Wyler Automotive Family has been operating since 1973. The firm rank in the top 50 of over 17,000 franchised dealerships for annual sales.
Acceptance of Cryptocurrency on the Increase
Acceptance of cryptocurrency across the world is clearly on the increase as several businesses are now open to crypto as means of payment, enabling users to spend their digital currencies seamlessly.
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Companies such as Newegg, SlingTV, Twitch, Jomashop, APMEX, American Cancer Society, Namecheap, and Dallas Mavericks are among those that currently accept payments in cryptocurrencies via BitPay.
Also, it was recently announced that Baltimore’s only exclusive Porsche center, Porsche Towson, has partnered with the crypto payment processor BitPay. This implies that clients can now purchase Porsche using various digital currencies, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), and others supported by BitPay.
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