Vegas Auto Gallery Sells Two High-End Sports Cars To Customers, Pays More Than $6 Million In Bitcoin
Vegas Auto Gallery Sells Two High-End Sports Cars To Customers, Pays More Than $6 Million In Bitcoin
December 31, 2020
Vegas Auto Gallery Sells Two High-End Sports Cars To Customers, Pays More Than $6 Million In Bitcoin
Vegas Auto Gallery Sells Two High-End Sports Cars To Customers, Pays More Than $6 Million In Bitcoin
December 31, 2020

Vegas Auto Gallery, a luxury auto dealership in Nevada, has sold two high-end sports cars to customers, who paid more than $6 million in Bitcoin (BTC).

It has been reported that Nick Dossa, the owner of Vegas Auto Gallery, said that around 3% to 5% of the dealership’s revenue came from Bitcoin transactions.

However, the dealership is not accepting Bitcoin payments outright, but through BitPay, a third-party payment provider. BitPay transactions settle BTC payments in US dollars upon receipt.

In the case of Vegas Auto Gallery, a 1% fee is applied to all Bitcoin purchases, which is equivalent to BitPay’s transaction fee.

According to Dossa, his dealership is not exposed to any additional risk by accepting Bitcoin payments.

He added:

“It’s a very easy transaction.”

Likewise, BitPay has onboarded hundreds of thousands of merchants worldwide by giving Bitcoin buyers plenty of ways to spend their BTC, although Bitcoin has been criticized for lacking payment channels. 

ALSO READ :  Tech Mahindra Launches Blockchain-Based Platform For Media And Entertainment Industry

The Lamborghini became the ultimate status symbol during the 2017 Bitcoin bull market. 

Thus, the recent foot traffic into Vegas Auto Gallery suggests that wealthy Bitcoiners are already splurging after the latest surge in price.

Source: Cointelegraph


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ultra-Rare “Alien” CryptoPunk Sells For 605 Ether

Ultra-Rare “Alien” CryptoPunk Sells For 605 Ether

An ultra-rare “alien” CryptoPunk has sold for 605 Ether on January 23, worth over $750,000 at today’s prices. It has been reported that CryptoPunks are widely considered to be the original NFT project, released even...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.