Argentine dealership accepts cryptocurrencies to reserve and pay for cars

Key facts:
  • Beyond the purchase of the car, it is also possible to pay for accessories and spare parts with cryptoassets.

  • Various cryptocurrencies such as bitcoin, tether, DAI and even dogecoin are accepted.

The Grupo Dietrich car dealership in Argentina has completed its first sale of a 0 kilometer car in cryptocurrencies. The buyer took advantage of the plan offered by the firm to pay the reservation of the vehicle in cryptoassets, and also intends to cancel the first installment of the financing through this method.

This new possibility that the Argentine company offers its customers is an alternative to “open up to different types of customers,” according to its commercial manager

, Sebastián Polo, told iProUp. In addition to reserving a car, there is the option to pay the subscription to a savings plan with cryptoassets, but not the installments.

It is also possible to buy accessories, spare parts and maintenance service with cryptocurrencies. The company has two specialized sellers for this type of operations.

In this particular case, which became known for being the first one that the firm concretizes with cryptocurrency payments, the customer paid for the reservation of a Volkswagen Nivus Confort with cryptocurrencies.

In

addition, this person also offered to pay the first installment of the savings plan with this currency.

How is the payment of a car with cryptocurrencies made?

The process detailed by Dietrich Group is based on a commercial agreement with the payment platform Bithan. First, the participants of the negotiation establish the conditions in pesos. Once this step is completed, Bithan processes the payment and sends a QR code to the payer, who has 15 minutes to make the transaction with bitcoin (BTC), Tether (USDT), Dogecoin (DOGE), DAI (DAI) and “other cryptocurrencies”. Finally, the rest of the procedure is given as in any other purchase of a car in Argentina.

See also  Coca-Cola launches first NFT collection to celebrate Friendship Day

Argentine dealership accepts cryptocurrencies to reserve and pay for cars Grupo Dietrich announced the possibility of paying in cryptocurrencies in their social networks. Source: iproup.com On the

other hand, Bithan also offers the possibility to deposit cryptocurrencies on its platform and use the proceeds to pay for a vehicle savings plan. This service, however, is still in the testing phase and can only be accessed by invitation. In relation to this, the steps detailed in the aforementioned publication include the loan of bitcoin or tether by the user to the platform, which will use them for staking

.

As detailed by CryptoNews Cryptopedia, staking consists of using a blocked amount in a proof of stake network to validate other transactions. In this way, profits are earned from the rewards obtained. In this case, the profits generated by staking

are returned to the user by deducting them from a vehicle’s savings plan.

Cryptocurrencies as a form of payment of goods in Argentina

For those who doubt about the “validity” of this type of transactions, the aforementioned media highlights the opinion of the lawyer Guillermo Navarro, who states that it is a “100% legal” operation. This statement is based on the fact that “cryptocurrencies are an exchange asset that can be used without problems”.

In fact, the automotive industry is not the only one that has ventured into cryptocurrency payments for the sale of goods in the country. As CriptoNoticias reported in April, even the e-commerce platform Mercado Libre, one of the most important in the sector in Latin America, has opened a section in which real estate is quoted in cryptocurrencies.

See also  Bitcoin adoption in Paraguay: what's in store for the world next week?