People have been able to buy some strange things with Bitcoin so far. Other than the 10,000 Bitcoin pizza a few years ago, some cryptocurrency holders have switched to buying more expensive things. Cars seem to be an intriguing market for Bitcoin owners. BeForward, a second-hand car sales site in Japan, has added Bitcoin payment support.
Getting more positive exposure for Bitcoin is always a positive development. Over the years, cryptocurrency has built up a rather bad reputation, for its alleged connection with the darknet and terrorist activity. Although that latter has never been proven, the allegations did not do Bitcoin any favors. But despite these setbacks, the currency is stronger than ever.
Showcasing The Global Appeal of Bitcoin
BeForward, a well-respected second-hand car sale platform in Japan, has been keeping an eye on Bitcoin and its progress. Although one may argue hardly anyone will buy a secondhand vehicle with Bitcoin, things are a bit different in Japan compared to the rest of the world. The country has been warming up to cryptocurrency in recent months, and there is a great opportunity ahead for businesses willing to explore the Bitcoin option.
This is a logical result of the Japanese government legalizing Bitcoin earlier this year. Cryptocurrency is a valid payment method for both online and offline transactions. One possible drawback is finding enough reasons to have bitcoin in the first place, and being able to spend it for other needs. Paying utility bills with Bitcoin, for example, is becoming a new trend in Japan.
Now that BeForward decided to accept Bitcoin payments as well, things are getting very interesting. Users can either complete a transaction through BitFinance, a Zimbabwean exchange operator. It is also possible to buy bitcoin from the exchange directly, and finalize the payment through the BeForward platform directly.
Users who decided to go for the option where BitFinance facilitates the transfer will pay a premium price, though. The company charges 10% in fees to facilitate the conversion from fiat to Bitcoin. For those opting to pay with cash or Ecocash, rates are slightly more favorable. Most transactions should be completed within 48 hours, which is still faster than sending regular bank transfer in Japan.
It is well worth noting BeForward is particularly popular among customers living in Zimbabwe. The country has a growing demand for Bitcoin as well, which somewhat explains the high premium price for this service. Although the usage of cryptocurrency in Zimbabwe is not illegal, the country’s central bank has issued a warning about using Bitcoin “at your own risk”.
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