Used car dealership chain now accepts cryptocurrency for purchases
By Bob Garcia
A used vehicle superstore chain embraces the future of money
Those that are looking to get a new or used car can now manage to get it, even if they’re cryptocurrency holders in North America. Car dealership HGreg, a Quebec-based vehicle superstore with 30 North American locations, is now giving the option to purchase any new or preowned car by paying with Bitcoin or other digital currency.
This auto dealer will now become the first large automotive group to give customers the option of paying for their next vehicle with crypto. The dealership said in a press release, “We’re pleased today to be at the forefront of technology, giving our customers another payment option. We also believe it will be advantageous to keep some of our assets in cryptocurrency.”
Different car options might be found in this dealership, from Hyundais to Lamborghinis. This means that every crypto user has now the option to use their funds to acquire any practical car, not just luxury vehicles. HGreg claims to have the largest inventory of vehicles in Canada and also asserts that it maintains 1,000 cars in Miami, FL.
The decision made by HGreg has been related to the fact that Tesla has recently been involved with the Bitcoin market, and reports that the electric vehicle maker allocated 7.7% of its gross cash position to Bitcoin. This company has also announced that Bitcoin will be part of the accepted payment methods in the future.
HGreg isn’t the only company to bring retail and crypto closer together. OLB Group recently announced that it had enabled crypto payments for its thousands of merchants across the US, providing access to use Bitcoin, Ether, USDC and Dai as an alternative to fiat.