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Jafrin Ahmed
Apr 11, 2022
by Jafrin Ahmed

Australians Can Now Buy Luxury Cars With Bitcoin via CoinSpot

Dutton Garage CoinSpot Bitcoin
Melbourne-based luxury car retailer Dutton Garage signs a partnership with local crypto exchange CoinSpot to enable customers to buy a range of luxury cars using cryptocurrencies such as Bitcoin (BTC), and Ethereum (ETH).

CoinSpot Partners With Luxury Car Dealer Dutton Garage

Australians can now buy prestigious luxury cars from Dutton Garage using over 30 cryptocurrencies listed on CoinSpot crypto exchange.

Confirming the partnership, Gary Howells, chief product officer at CoinSpot, stated:

“As Australians continue to look for more ways to find value in their crypto investments, CoinSpot’s partnership with Dutton Garage symbolizes our commitment to expanding the utility of crypto…Increasing crypto’s utility is the key to driving mass adoption of what we believe is the future of finance. This partnership is only the beginning of CoinSpot’s ability to facilitate transactions within the luxury goods market.”

CoinSpot OTC’s lock-in feature reduces the risk of a significant price movement at the time of the purchase. Infact, the exchange's OTC services were specifically designed for transactions above AUD$ 500,000, which turns out to be well-suited for Dutton Garage.

Following Tesla’s Footsteps

Dutton Garage is not the first luxury car retailer to adopt crypto payments. Last year, electric car manufacturer Tesla too accepted Bitcoin as payment, although this was short-lived due to environmental concerns.

Musk later announced that the company would resume accepting BTC if the miners will use at least 50% of renewable energy. While the metric was achieved later the same year, the electric car manufacturing giant has not yet resumed accepting BTC. Instead, it has started accepting the meme-based cryptocurrency Dogecoin (DOGE) for its merch.

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Australians Can Now Buy Luxury Cars With Bitcoin via CoinSpot
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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