The American car dealer Jeff Wyler Automotive Family, located in Ohio, Kentucky and Indiana, made the first car sale transaction using cryptocurrencies and accepting Ethereum as a form of payment.
The car subject to the transaction is a 2021 Mercedes-Benz S580 and was purchased by a person from Saudi Arabia.
The company is very popular in the United States and specializes in selling new cars, used cars, as well as offering workshop services. In addition, it accepts 12 different types of cryptocurrencies, making it easy for customers to cancel all or part of the transaction with crypto, as well as the combination of the different digital currencies that users can handle.
It is the first time that the United States automotive sector has completed a transaction using cryptocurrencies in its entirety, which is an important sign of acceptance of these currencies as a form of payment in the sector, in addition to consolidating the use of Ethereum as one of the main virtual currencies used to buy real estate.
The use of cryptocurrencies in physical spaces increases
A study carried out by the Morgan Stanley bank showed that the acceptance of cryptocurrencies as payment in physical places is increasing significantly. Proof of this are the different alliances that are being developed between exchange houses and physical stores.
According to the report, “partnerships with physical stores are the “most important milestone in the evolution of the use of Bitcoin as a means of payment, since more than 85 % of sales in the US occur in physical stores and not on-line.”
Another fact that confirms the evolution of cryptos as means of payment is the alliance made between the point of sale provider NCR and the payment firm Blackhawk, which will allow numerous US stores and restaurants to accept payments in cryptocurrencies very soon.