ZoneBitcoin EditorialThe exceptional growth of bitcoin has enabled the emergence of new bitcoin millionaires. The first investors taking advantage of the rise in bitcoin were then able to afford high-end products such as luxury cars.
With the announcement saying that Ferrari would accept cryptocurrency payments in the USA , the desire to own a luxury car paid for in bitcoin rises to the surface. Indeed, dealerships and sites have been allowing bitcoin holders to buy luxury cars for years.
Here are alternatives for those who want (and can afford) to buy a luxury car with bitcoin.
If you are one of the lucky ones, this article shows you the best sites to find and buy a luxury car paying with your bitcoins.
Preparation before buying a car with bitcoin:
Before you embark on purchasing a luxury car with Bitcoin, it is essential to prepare yourself well. Here are some important steps to follow:
- Acquire Bitcoins: If you don't have Bitcoins yet, you will need to buy some from a trusted site. You can purchase them in several ways, more or less advanced depending on your level of knowledge. Be sure to do thorough research to choose a reputable platform and then purchase the amount of Bitcoin needed to purchase your future car.
- Securing a Bitcoin wallet: Security is paramount when it comes to holding Bitcoins. Make sure you use a secure Bitcoin wallet to store your funds. THE hardware wallets are often recommended for maximum security. You can opt for a wallet like Trezor for example.
- Find a dealer or seller accepting Bitcoin: Once you have acquired your Bitcoins and secured a wallet, look for a luxury car dealership or private seller (more risky) that accepts Bitcoin payments. These days, there are more and more merchants that accept Bitcoin.
Here is a list of sites on which it is possible to buy a luxury car with bitcoin.
1/ The BitCars website
It is actually the oldest (since 2016) and most popular site for buying luxury cars with bitcoin. The Bitcars site is part of the site Bitdial and offers various models ranging from the Aston Martin to the Bentley, including Maseratis and the essential Lamborghini.
Given the amounts involved, it is essential to choose a trusted site where other customers have already made successful purchases. This is the case of Bitcars which has won the trust of bitcoiners with a excellent rating of 4,8 out of 5 on TrustPilot.
Thus, it is also possible to see and (above all) test the car, via Bitcars. Payment is made in bitcoin but the company also accepts: ETH, LTC, DCR, DOGE, DOT and USDT
The Bitcars site is part of the site Bitdial specialized in selling luxury bitcoin products such as watches, boats, jewelry, etc.
The CryptoEmporium website
The CryptoEmporium site is a reference site for people who want to buy a luxury car with bitcoin or other cryptocurrencies. The site was founded in 2018 in Estonia and it is experiencing growing success with the possibility of purchasing different products in bitcoin. It is possible to buy electronic products such as computers, works of art or even watches. You will find a considerable choice of cars such as Lamborghini, Mercedes-Ben, Aston Martin, Maserati, Porshe, Tesla, McLaren among 40 car brands. For example, we can currently see that it is possible to buy a 2003 Ferrari 360 Modena F1 for 3,89 BTC.
It is also possible to buy more classic cars, vans and even motorcycles. It is clearly the most complete e-commerce site in terms of products that currently exists on the market.
The CryptoExchange site for used cars
The CryptoExchange platform is certainly one of the oldest marketplaces where users can buy or sell different used products for Bitcoin. The Crypto Exchange marketplace therefore makes it possible to create a link between sellers and buyers by allowing a bitcoin escrow custody system to guarantee the security of transactions.
Originally, the platform was simply an exchange platform for buying and selling bitcoin but in recent years, the platform has made it possible to trade a varied number of products ranging from luxury cars to luxury watches and even domain names. , all at different prices.
Note: You must find out about the location of your property to avoid delivery costs being too expensive.
Why do some people buy luxury cars with cryptocurrencies?
There are several scenarios that explain why people prefer to buy luxury cars with cryptocurrencies. On the one hand, you should know that there are many millionaires who have become ones thanks to cryptocurrencies. So, for them, spending cryptocurrencies is the same as spending euros or dollars.
However, it should also be remembered that there are many advantages to paying in cryptocurrencies such as confidentiality and speed of purchases. There is no need to call your banker or asset manager, for example, to release the funds and use them immediately, without any ceiling. Finally, purchases on sites and platforms have escrow systems which guarantee that buyers and sellers make a secure and guaranteed transaction.
All transactions are recorded on the blockchain and it is then easier to track and trace transactions between the buyer and seller while remaining anonymous. There is no need to send confidential information to buy a car with bitcoin.
Finally, for some residents of certain countries, it is easier to pay in cryptocurrencies because the local currency may not be accepted, for example. For an international payment in FIAT, bank transfers take longer and are more expensive than if they are made in cryptocurrencies.
Is it safe to buy a car with Bitcoin?
As with any purchase and especially when it involves a large amount such as a luxury car, it is essential to take precautions and choose a trusted seller. Using a trusted site is then an essential prerequisite. It is important to keep in mind that bitcoin transactions cannot be canceled. Therefore, it is important to enter the receiving address correctly and not to make the wrong recipient. The ideal is to enter an address by QR Code to avoid errors.
Final Word on Buying a Car with Bitcoin
Buying a car with bitcoin has become a reality for many cryptocurrency holders for a number of years now. In 2014, someone bought a Lamborghini by paying in bitcoin and it left a mark on the entire community, which turned it into a meme “Wen Lambo?” which is still relevant today, even if it is less used than before.
The idea being to recall that the rapid growth of cryptocurrencies as shown by the example of this man who bought a Lamborghini with an initial bitcoin investment of $115. The meme illustrates that once wealth is achieved, the luxury car becomes an accessible object.
With these beautiful words, we must remind you that investing involves risks. It is crucial to make informed investments and not invest what you cannot afford to lose.
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Note: This is not investment advice or advice on buying a luxury car either. Always do your own research before investing.
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