Last Updated on: 22nd November 2023, 02:48 pm
MORE than 100 of the UK’s top car dealers have signed up to partner with London-based AutoCoinCars, the country’s market leader in trading cars with cryptocurrency.
Some of the UK’s biggest car dealers, including Redline Specialist Cars, Saxton4x4 and Benz Bavarian, have joined forces with the cryptocurrency platform, which sells hundreds of cars across the UK every month.
Cryptocurrency in the UK is a growing facility with more than seven per cent of the population having direct access to digital currency. Luke Wilmott, commercial director at AutoCoinCars, believes this growth signals the way forward for the UK car sales industry.
Luke said: “We’re delighted to be able to announce that within our first operational year, we have been able to sign up 50% of the UK’s top car dealers and offer them a safe and secure method of selling their stock to the millions of crypto users around the UK, without losing a penny.
“With five million people in the UK already using cryptocurrency, we can see that it’s definitely the way of the future. It all started with Bitcoin and now there are several other currencies available.”
“For dealers, offering cryptocurrency as a purchasing option to your customers opens up another great avenue of business. With the current state of the UK economic climate and with more consumers looking into different options when it comes to buying cars, we believe that dealers need to ensure they’re providing the best possible offering to their customers and enabling them to purchase cars with these increasingly popular digital currencies.”
John Graeme, financial director at Redline Specialist Cars, agrees that optimising cryptocurrency is the way forward for the industry no matter how expensive the car is: “From our own experience, I think people believe that to buy a car with cryptocurrency it must be a high-value supercar, but we’ve sold a whole multitude of cars from Lamborghinis to Audis. Don’t be fooled by the big numbers in cryptocurrency, people can buy cars of any value, our stock ranges in value from £20k to £2m.
“Personally, I’ve been interested in providing a cryptocurrency offering to our customers for a while and as a business, we had been receiving a lot of enquires from people about buying cars with digital currency. Prior to working with AutoCoinCars we were very limited in the payment methods we could offer to customers, so offering a cryptocurrency payment option opens up another sales avenue and enables us to reach a wider customer base. As far as I am concerned, any commercial advantage you can get in a retail space, you must take advantage of.”
Luke added: “While 2019 was a transformative year for cryptocurrency technology, in 2020 it is predicted to rise even further, with Bitcoin the best performer. Cryptocurrency is expected to grow even more as it operates globally and at a time when many nations are closing their borders.
“The demand within UK dealers and customers for a cryptocurrency purchasing option speaks for itself and we look forward to being able to continue expanding the platform out to more dealerships across the country.”
To find out more about AutoCoinCars and how it works, visit https://www.autocoincars.com/.
