Ethereum, the second-largest cryptocurrency, has been accepted as payment in the first cryptocurrency-based automobile sale transaction at Jeff Wyler Automotive Family. The customer, from Saudi Arabia, paid for the Mercedes-Benz S580 in 2021 using Ethereum (ETH).
The Milford-based automotive company, which dates all the way back to 1973, completed its first cryptocurrency-based automobile sale transaction at its Mercedes-Benz of Fort Mitchell shop, selling a Certified Pre-Owned 2021 Mercedes-Benz S580 to a Saudi Arabian customer.
At the moment, Jeff Wyler Automotive Family accepts Bitcoin and 11 additional cryptocurrencies at its 23 dealerships in Ohio, Kentucky, and Indiana, allowing customers to pay for a portion of their transaction or the entire transaction using any of the supported cryptocurrencies or a combination of them.
Apart from other applications, Ethereum is rapidly becoming one of the most popular cryptos for real estate purchases. Pacaso, a real estate business, now accepts bitcoin for second house purchases, making it the first second-home marketplace to do so.
Acceptance of cryptocurrencies is increasing
Acceptance of bitcoin as a form of payment is increasing, as there are already various organisations that allow users to actually spend money. Companies accepting bitcoins through BitPay include Newegg, SlingTV, Twitch, Jomashop, APMEX, the American Cancer Society, Namecheap, and the Dallas Mavericks.
Notably, the Mavericks became the first professional sports team in the major leagues to accept cryptocurrencies. The Sacramento Kings of the NBA and the Carolina Hurricanes of the NHL are two other sports clubs who accept cryptocurrencies through payment processor BitPay.
As previously reported, Porsche Towson, Baltimore’s exclusive Porsche facility, has joined with cryptocurrency payment processor BitPay to begin accepting digital assets, including Shiba Inu.