The second-largest cryptocurrency, Ethereum, has been accepted as payment in the first car sale transaction using cryptocurrency at Jeff Wyler Automotive Family. The buyer, from Saudi Arabia, used Ethereum (ETH) to purchase his 2021 Mercedes-Benz S580.
The Milford-based automotive dealer that dates back to 1973 completed its first car sale transaction using cryptocurrency at its Mercedes-Benz of Fort Mitchell dealership, selling a Certified Pre-Owned 2021 Mercedes-Benz S580 to a buyer in Saudi Arabia.
Presently, Jeff Wyler Automotive Family accepts Bitcoin and 11 other cryptocurrencies at its 23 dealerships located in Ohio, Kentucky and Indiana, allowing customers to pay for part of their transaction or the entire transaction using any of the supported cryptocurrencies or a mix of cryptocurrencies.
Aside from other use cases, Ethereum is fast becoming one of the top cryptos used to buy real estate. Pacaso, a real estate company, accepts cryptocurrency as a payment option for second home purchases, making it the first second-home marketplace to enable payment with digital currency.
Cryptocurrency acceptance on the rise
Cryptocurrency acceptance as payment is on the rise as there are now several companies where users can practically spend cryptocurrency. Newegg, SlingTV, Twitch, Jomashop, APMEX, American Cancer Society, Namecheap and Dallas Mavericks are among the companies accepting cryptocurrencies via BitPay.
Notably, the Mavericks were the first major league sports organization to accept cryptocurrency. The Sacramento Kings (NBA) and Carolina Hurricanes (NHL) are a few of the other sports teams that also accept cryptocurrency through payments processor BitPay.
As previously covered by U.Today, Porsche Towson, Baltimore's only exclusive Porsche center, has partnered with cryptocurrency payment processor BitPay to accept digital assets, Shiba Inu inclusive.