You Can Now Buy a Car With Bitcoin and Have It Delivered With a Bow

beepiacceptsbitcoin08 July 2014 / Recode – Add used cars to the list of products you can now buy with a currency that didn’t even exist a decade ago.

Beepi, a two-month-old company that operates an online market for used-car sales, will start accepting bitcoin as a form of payment, CEO Ale Resnik told Re/code in a recent interview. Beepi is working with bitcoin payment processor Bitpay to make it possible.

While some niche sites allow for used-car purchases with bitcoin, Beepi says it’s the first peer-to-peer car marketplace to accept the virtual currency.

“We’re making buying a car fast, fun and easy, and what’s more fun than paying for a car with bitcoin?” Resnik said.

Over the past year, e-commerce companies such as, NewEgg and Expedia have started accepting bitcoin as the digital currency grabbed the media spotlight and its value rose, dropped and rose again. Still, there’s currently little incentive to make purchases with bitcoin unless you bought into the craze when its value was much lower than the current $619. Bitpay competitor Coinbase is trying to change that by making it easy for online businesses to automatically provide a discount to anyone who pays with bitcoin. Why would merchants do that? Bitcoin transaction fees charged to merchants are typically much lower than fees associated with credit card purchases.

Bitpay will convert bitcoin purchases to U.S. dollars, so neither Beepi nor the car seller will ever touch the currency….. Read more

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