It is already possible to buy and sell a car using Bitcoin. The well-known peer-to-peer digital marketplace Beepi announced this Tuesday (8th) that it is now accepting cryptocurrency as a payment option. Besides, the company is also adding a new service: instant pre-approval for car loans.
Beepi, which is now accepting Bitcoin thanks to a partnership with BitPay, was founded not long ago by Ale Resnik, the current CEO, and Owen Savir (COO) to innovate the act of buying or selling a car.
“Beepi replaces the used car dealer and the used car lot with a system that connects buyers and sellers in a radical new way. No negotiating, no trips to the dealer, no surprises – and no commission to the guy with the plaid jacket. Which means a better price for everyone”, reads the company’s website.
Ale Resnik confirms Beepi’s mission. “The $300 billion used car marketplace has experienced little to no innovation in decades and we’re excited to lead this change. Beepi first eliminated the hassle of working with car salesmen and now we’re taking the frustration out of payments“, says the CEO.
Integrating with Bitcoin is a natural extension of our promise to deliver the easiest way to purchase a car in the 21st century.
Buying a car with Bitcoin using Beepi’s platform is quite easy: once a customer selects ‘check-out’ on the Beepi site, they will then be prompted to click ‘payment options’ and can select the Bitcoin icon to purchase the car with cryptocurrency.
BitPay helps the buyer paying with Bitcoin, but can transfer fiat currency to the seller at the same time. For now, Beepi is offering a $1,000 rebate to the first three Bitcoiners that purchase a vehicle worth more than $10,000 with digital money.
“The automotive industry is at the forefront of Bitcoin adoption and we see that trend continuing to grow with companies like Beepi leading the way”, says BitPay executive chairman Tony Gallippi. ”The beauty of ecommerce and sites like Beepi is that the inventory of all cars is accessible across the country for purchase as well as expanding the base of potential customers including those who hold Bitcoin and are looking for things to buy”.
Along with the new instant pre-approval for car loans, the company also plans to add a QR code option that will allow buyers to purchase a car through their mobile devices.