The number of businesses accepting cryptocurrency is increasing and the latest example is Daytona Nissan. The Florida-based Nissan dealer announced today that they will be accepting Dogecoin (with some pretty heavy caveats).
Earlier this week, Tesla famously invested US$1.5 billion into Bitcoin, while also announcing they were looking to enable vehicle purchases using the digital currency.
As the price of crypto rises, it is not surprising to see businesses moving to support payment with an appreciating asset. These are volatile, so there are certainly risks in accepting it, which explains why the terms and conditions on this are fairly extensive.
*Do to the high volatility of DogeCoin, we recommend that you convert your DogeCoin to USD within your preferred trading platform. However, Dogecoin is accepted, but only for down payment and up to an equivalent US Dollar value of $5,000 based at the time of transaction of current market value.
Please consult a tax expert on the use of cryptocurrency to purchase items. Dealer is not responsible for any personal taxes incurred. Transfer of Dogecoin does not absolve the sender of any taxes, liabilities, or capital gains taxes. Must be 18 years of age or older. Please see dealer for full details. Expires 02/12/2021
Transfer of DogeCoin will be accessed a 25% convenience fee
This definitely feels like the marketing department seen an opportunity to capitalise on this week’s crypto boost, rather than a serious effort to support vehicle purchases, but still, it is an interesting development in the space.
At the time of writing, Dogecoin was worth $0.070277, which means you’d need quite a lot to reach the $5,000 deposit.