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Cars for crypto: Aussies can now sell their car for bitcoin

·2-min read
(Source: Getty)
(Source: Getty)

Aussies can now sell their used car, truck or caravan in exchange for bitcoin.

CarBuyers.com.au has launched the new payment system to allow Aussies to choose bitcoin as the preferred payment method if they please.

The company said the system will be operating in every state and territory and those wanting payment in bitcoin just need to fill out a contact form to arrange a vehicle inspection, receive an offer and indicate the desired payment method.

The bitcoin will then be deposited into the designated digital wallet the same day.

Bitcoin has been surging this year, with prices up around 90 per cent since December 2020.

Transformational director at CarBuyers.com.au Daniel Werzberger said there has been an increase in demand from customers wanting to be paid in alternative, digital currencies.

“As cryptocurrencies have increased in popularity, they are increasingly viewed as legitimate alternatives to traditional coin and paper tender,” Werzberger said.

“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.”

Wezberger said the new feature is a way of providing customers with an extra level of convenience.

Additionally, the company is offering its employees the option to be paid commission and bonuses in bitcoin.

This comes as used car prices are surging as a result of the pandemic. Factories that create microchips have had to be shut down causing production delays in new vehicles.

The bounce in prices is set to continue for around another six months as well as production delays for major tech companies like Apple and Samsung.

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