An automotive business based in New England has sold a car in exchange for Dash, a leading cryptocurrency.
Buying a Car with Cryptocurrency
AutoFair, an automotive group which has operations in the New England area of US, has sold the first car in the country in exchange for cryptocurrency Dash. The company which deals in new and pre-owned vehicles operates dealerships in eight locations of New Hampshire and Massachusetts.
The auto firm sold a 2012 Ford Fusion for an amount of 36.9855 Dash worth $7,560. The payment for the car was made upfront. The dealership has launched a promotional discount for people who are willing to buy cars with the digital currency.
The payment was processed by Anypay, a point of sale app which is widely used in New Hampshire.
“The paying part was delightful,” said Derrick J. Freeman of Anypay, who bought the car. “It was super easy. It was pretty amazing actually. Had I walked into the dealership with a stack of twenties, it would have been way more difficult. It just seemed right. Modern, efficient. It was also playful and fun whereas paper cash is way less fun. Tedious.”
More Amazing Deals
Autofair in collaboration with Anypay is running a joint promotion on 300 additional vehicles. The next four cars to be bought with Dash will get the customers a 10% Dash-back. This amount will be divided equally among the customers and the dealership. This amount is capped at $1000 for each sale.
Freeman further said, “Most businesses that started accepting cryptocurrency were smaller, more marginal businesses, and we see that larger and larger businesses are accepting crypto. What normally happens is a business will accept digital cash often knowing that they can convert it to bank money. Yet almost always they learn about the benefits and decide to keep the digital cash themselves.”
Dash Popularity in New Hampshire
The digital asset is favored in New Hampshire with almost 80 merchants accepting payments in it. Last year a bill was passed exempting cryptocurrencies from specific financial regulations.
Dash ranks among the top 13 cryptocurrencies on CoinMarketCap, the data aggregator. At the time of writing the digital coin is priced around $157 with a market cap of $187.7 Million and a low circulating supply of 8.3 million. Dash is a fork of Bitcoin and enables fast transactions that can’t be traced.
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