EuroSports Global, a leading luxury car dealer, now accepts Bitcoin and 3 altcoins as payment for cars, according to an announcement on Monday, April 18. Eurosport Global, which accepts Bitcoin as a payment method and is headquartered in Singapore, works with leading automotive brands such as Lamborghini, Alfa Romeo and the Touring Superleggera brand.
More and more Institutional Investors are Accepting Bitcoin (BTC)
EuroSports Global announced that it will be possible to pay BTC and 3 altcoins for cars. According to the company’s statement, accepting payments in cryptocurrency is seen as an attempt to “meet the growing demand for flexible and easy-to-use cryptocurrency payments.” More importantly, according to him, the inclusion of cryptocurrency payments will make cross-border transactions easier and cheaper. Fomo Pay, on the other hand, will be responsible for facilitating crypto payments for a luxury car dealer willing to accept Bitcoin, Ethereum, USDT and USDC.
Cryptocurrencies such as Bitcoin, Ethereum, are not regulated by any central government. But their popularity seems to be growing day by day. A growing number of traders in all industries are showing interest in accepting cryptocurrencies to pay for their goods and services. For example, several luxury car sellers, such as EuroSports Global, now accept cryptocurrencies as payment for goods.
The Growing Adoption of Cryptography
The growing popularity in the cryptocurrency community shows that many traders realize that cryptocurrencies are a better payment option than fiat currencies. Like EuroSport Global, their main goal is to simplify payments, provide their customers with a wider choice, reduce transaction costs and the time needed to settle payments. Other luxury car manufacturers and dealers, such as Tesla in the US and Dutton Garage in Australia, accept cryptocurrencies as a payment method.
As we mentioned earlier, the value of any cryptocurrency depends on the number of people who use it. As traders continue to accept cryptocurrencies for payments, the value of such cryptocurrencies will grow over time. Thus, according to experts, such adoptions represent a great opportunity for the industry to grow and increase its value to the general public.