Aussies Can Now Buy Cars with Bitcoin

Thursday 29 April 2021, 5:00 PM AEST - 1 month ago

CarBuyers.com.au has announced a new payment system that allows Aussies to sell their vehicles for Bitcoin all across the country, becoming one of the latest Australian businesses to adopt cryptocurrencies.

Buying Cars with BTC Across Australia

Paying with BTC will be identical to the company’s fiat offering. The process seems quite straightforward:

  1. The seller has to fill a contact form to set up a vehicle inspection
  2. Receive an offer
  3. Indicate they wish to accept payment for their quote in BTC via an electronic contract.
  4. Provide the required information and sign the contract.

Funds will be deposited into the customer’s digital wallet the same day — as long as the seller signs the contract and provides all the required information before the deadline.

The Bitcoin price will be determined and converted at exactly 2pm on the day of payment. We are not providing protection mechanisms against volatility. This is the nature of Bitcoin and the seller has the option to accept our traditional cash option to protect against this risk.

CarBuyers [supplied to Crypto News Australia]
Screenshot from CarBuyers homepage

Another Aussie Business Accepting Crypto

CarBuyers is one of the latest business in Australia that is now receiving BTC payments as cryptocurrencies soared in popularity in the country, not only as an attractive market for investors but also for companies from different industries.

Other than buying and selling crypto on a verified exchange, there are only a handful of legitimate businesses who are offering payment in this currency directly to consumers.

Daniel Werzberger, transformational director at CarBuyers [Yahoo Finance]

CarBuyers will be operating in every state of Australia, also exploring the possibility of paying commissions and bonuses to its employees in Bitcoin. For now, the company will only support BTC payments as an alternative to Australian dollars.

Paying With Crypto to Avoid Scams

Paying with cryptocurrencies can be an alternative method in Australia to acquired goods and services. Australians have reportedly lost over $175 million AUD to all kinds of scams during 2020.

A few days ago, two Australians lost over A$130,000 while trying to buy the Tesla 3 model, falling for fake invoice scams. These scams have become very popular in the country, as scammers simply leave the original design of the invoice while changing the bank details of the supplier.

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