Announcing a Return to our Roots: The All-New Bitcoin Magazine

The First Land Rover Sold with Bitcoin

by

         The First Land Rover Sold with Bitcoin

Whether or not you are in the market for a new car, a growing amount of dealerships are allowing customers to pay using Bitcoin. In late 2013, many stories were told of the first Tesla bought using the rapidly growing digital currency, which helped forge the path for many more sales to come.

Since then, we have seen many high-end automobile purchases with Bitcoin as the method of payment. To add to the continuing trend, Land Rover of Redwood City, California announced last week that the world’s first Land Rover was sold using Bitcoin.

Land Rover of Redwood City has been a proud member of the Qvale Automotive Group since 2000 and the family sold its first car in 1947. Since then, the family now owns a chain of luxury dealerships throughout California and Florida.

According to the Redwood City dealership, they were approached by a prominent Silicon Valley Venture Capitalist wanting to purchase a new vehicle with Bitcoin. At the time, the team in the San Francisco metro area had very little knowledge of Bitcoin or its useful benefits. The company partnered with BitPay, a payment processor, to help facilitate and complete the transaction. “Although the concept of Bitcoin is hard to grasp, the process as put forth by BitPay is quite simple,” said Doug Doyle, General Sales Manager with Land Rover of Redwood City.

The adoption of Bitcoin into the brick-and-mortar space has helped many companies, namely car dealerships, gain a foothold on their competition. These businesses now can reach the ever-expanding Bitcoin community, and provide them with another way to spend Bitcoin.

Doug Doyle stated in a recent press release, “we realized we need to be ready to accept change in this constantly broadening virtual community, so we agreed to our first Bitcoin sale.” The California dealership understands the innovation and simplicity of Bitcoin and what the financial implications for their business could be – lower transaction fees, zero chargebacks and low risk of fraud. These benefits could make a meaningful difference in every business.

Will you be able to buy your next car with Bitcoin? Odds are yes. Simply because, many dealerships have began accepting Bitcoin due to an inquiry from a prospective buyer. In every story related to the same topic, it is apparent that all we have to do is ask. For dealerships, Bitcoin can and will change the way business is done. “Just send an invoice and the money shows up in your account. Simple and seamless, just as they [BitPay] said,” stated Doug Doyle.

Not every car purchase with Bitcoin will be a Land Rover. Instead, we will witness other major dealerships jumping to accept Bitcoin for all cars, new and used. Companies like BitPay provide Land Rover of Redwood City with the ability to seamlessly complete transactions with substantially lower payment processing fees than those of credit cards or money transfers, with the opportunity of flat-rate pricing.

For consumers looking to spend Bitcoin, this could bring savings to you, because the dealership could lower the sticker price due to its savings on transaction costs. The age of buying your next car with Bitcoin is just getting started. Thanks to early adopters like Land Rover of Redwood City, who are paving the way for what is to come.

Recommended

Ten Years Later, a Reflection on Bitcoin’s Genesis and Satoshi’s Timing

Rather than focusing simply on what the genesis block is, today is a day to reflect on what the genesis block represents.

Colin Harper

Op Ed: From Gray To Black and White: Traditional Regulations Come to Crypto

For the crypto industry, recent developments — at both the federal and international levels — signal that the time for plausible deniability or unregulated freedom is coming to an end and more traditional regulations are moving to the forefront.

Courtney Rogers Perrin and Joshua Lewis

Bitcoin Price Analysis: Blowing Through Support Levels on the Way to $3,000

Bitcoin continues to tumble lower and lower as it struggles to claim any footing in the market. It’s down almost 50% in three weeks and it’s showing very little sign of stopping. It’s currently clutching onto the $3,500 values but it doesn’t look like it can hold on much longer.

Bitcoin Schmitcoin

Op Ed: SEC’s Latest Declaration Creates Legal Minefield for Digital Assets

This broad, authoritative declaration is not unexpected, as, to date, the SEC has stated that all digital assets — regardless of whether they function as alt coins or utility tokens — are securities at least initially and, thus, subject to its jurisdiction.

Huhnsik Chung and Nicholas Secara