Digital Assets: In Maryland, You Can Now Pay For Your Porsche With Crypto
Porsche Towson, a dealership in Maryland, accepts bitcoin and other cryptos for its cars.
Bitpay, the US provider of bitcoin payment services, tweeted its announcement that Porsche Towson, a Porsche dealer serving the Baltimore area in Maryland, US, has started accepting payments for their cars using cryptocurrencies, including Bitcoin and Ethereum.
Turn your #crypto into precious metal at Porsche Towson. Now accepting Crypto as payment for vehicle purchases. Learn more: https://t.co/g5eD13Y7tS#Porsche #crypto #bitcoin #doge #shib pic.twitter.com/Yj3yO3iIyK
— BitPay (@BitPay) April 19, 2022
Porsche Towson offers new, certified pre-owned, and leasing options across their locations in Maryland and Pennsylvania. The Baltimore, Lutherville-Timonium, Hunt Valley, Bel Air, and Towson locations can be found in Maryland. The Pennsylvania location can be found in York County. (Bitcoin Magazine)
Luxury cars paid via crypto!
Potential buyers of high-value items such as Porsche luxury cars often seek to pay in alternative currencies such as bitcoin but are hampered due to the non-availability of payment methods that can process the transaction securely and immediately.
However, Bitpay offers an enterprise-grade cryptocurrency payment system that allows businesses such as Porsche Towson to accept cryptocurrencies like BTC by taking the stress away from business owners with a seamless application programming interface (API).
Bitpay, therefore, enables both one-time and recurring crypto payments for businesses. Further, the merchant is not exposed to bitcoin’s price volatility because Bitpay pays out the entire contracted dollar amount minus a transaction fee of 1%.
In addition, the Bitpay platform has now added the Layer 2 protocol Lightning Network functionality that will enable merchants to receive cheaper and faster payments.
The combination of payments made through the main Bitcoin blockchain and through the Lightning Network results in an overall better payment experience that is fast, low cost, and scalable. Lightning Network can process hundreds of thousands more transactions per second than the main Bitcoin blockchain.
Image Credit: Porsche Towson
Latest Alternative Investment News
Michael Saylor, CEO of MicroStrategy (NASDAQ: MSTR), who is permanently bullish on bitcoin, reiterated his positive outlook for the leading crypto in an interview on Thursday. Note that MicroStrategy currently…
The crypto world was dealt a body blow by the collapse of the TerraUSD (UST) stablecoin earlier this month. The Terra meltdown is now being referred as crypto’s “Lehman moment.”…
Fast-growing, Southeast Asia-focused payments infrastructure platform Xendit closed on a US$300 million Series D funding co-led by Coatue and Insight Partners with additional investment from Accel, Tiger Global, Kleiner Perkins,…
FTX Stocks is an equity trading platform offered through the FTX US trading application. FTX US announced Thursday a private beta phase trading on the platform for US customers selected…