At the moment, Bitcoin is worth $58,000 per coin, which means that a $350,000 Rolls would cost about 7 Bitcoins at current exchange rates. This figure is subject to change because just a few months ago, a Rolls Royce would have cost you 55 bitcoins. Since Bitcoins are gradually increasing in value, more and more people are now accumulating them and using them to make bigger purchases like cars and even houses. You too can do the same. Read on to know how to purchase a Rolls Royce with Bitcoin and other cryptocurrencies today.
There are two reasons to buy cars with bitcoins:
- Bitcoins are easier to spend using Bitpay payment method
- It is simple to pay for large purchases with bitcoins because transactional charges are minimum. Moreover, since some countries don’t have any sales tax on bitcoins, you actually save more when you pay with bitcoins.
If Rolls Royce is $350,000, then you will have to pay 5% sales tax if you use the fiat currency. But with bitcoins, you won’t have to do that because the sales tax doesn’t apply to crypto.
But most bitcoin users who are looking to pay for buying assets using bitcoins, have one question:
Are Bitcoins Safe for Buying Cars?
In all honesty, yes and no. Bitcoins fluctuate rapidly. Today you will have to pay 7 bitcoins to buy a Rolls Royce, but five days ago, you would have paid 6 bitcoins, and 30 days ago, you would have paid 9 bitcoins.
So, this fluctuation in bitcoin price makes it a lot volatile.
Car dealers use the day’s pay rate to ensure that they get the realistic bitcoin value when they transfer the ownership of the bitcoin to their users.
The second biggest question when it comes to buying cars with cryptocurrencies is:
Is Rolls Royce Available in Cryptocurrency?
Yes. There are a handful of cryptocurrency car dealers that accept bitcoins for payment of car ownership.
Rolls Royce and many other brands are available with car dealers and they a lot of them also ship them to areas they are based in.
You can buy any car with Bitcoin, Bitcoin Cash, and Great Britain Pound. The GBP is a FIAT currency while the other two are cryptocurrencies. So, their values change in real-time so that visitors and potential customers interested in buying Rolls Royce and other similar cars know the true value of those cars when they plan to purchase.
This brings us to our next part of the article.
Requirements for Buying Rolls Royce with Bitcoins
When users plan to buy a car, they have to pay using bitcoins. This requires a few things at the user’s end. These include:
A crypto wallet
The user will use his/her bitcoin wallet to pay for the cars available in the market. Your crypto wallet can be physical or on a mobile device, the company would only require the public key for transactions. So, make sure that the bitcoin wallet has the desired amount and that you are willing to purchase the car.
Since the payments will be made through Bitpay. For those of you who are unsure about Bitpay, it is a cryptocurrency that allows users to pay for items using bitcoins easily. The bitpay acts as a debit card that converts your bitcoins to fiat currency when you checkout with it. The best part about bitpay is that your identity remains anonymous. Dealers will then receive the fiat currency in their bank accounts while the bitcoins will be deducted from your wallet. As a result, you will get the items that you want and the other party will get their payment.
Bitpay is available for all bitcoin users and they can easily create an account on it and use it for their purchases. Bitpay will keep a percentage of the transaction as fees for conversion from bitcoin to fiat currency.
How is Bitcoin Price Calculated for Buying Cars?
Bitcoin prices of all cars including Rolls Royce are calculated in real-time. Let’s say that Bitcoin is $56453 at this time and you saw the price right now. Now, after one hour, when you plan to pay for the cryptocurrency, the price declines to $50,000, the price of the car will change from X bitcoin price to Y bitcoin price.
In that case, you will be charged the new price. So, when paying for your Rolls Royce with Bitcoins or Bitcoin cash, make sure that you keep an eye on the real-time pricing. This will ensure that you get the best price for buying the cars and have no regrets later on.
What is the Value of Rolls Royce in Bitcoins?
As of writing this report, the price of Rolls Royce is only 7 bitcoins. Its value in Fiat currency is $350,000 while bitcoin is around $56,000 as of writing of this report.
However, the price of bitcoin is fluctuating rapidly and so is the price of all cars that are available in bitcoins.
Which Currency is Better for Buying Rolls Royce, BTC, BTC Cash, Nano, or FIAT?
All cryptocurrencies fluctuate because of their volatility. This also makes them great for buying luxurious cars like Rolls Royce, Bentley, and Mercedes for a lot cheap.
In comparison, users would have to pay the actual price of these cars if they were using FIAT currency.
Here is a simple scenario. If users were having fiat currency, the value of Rolls Royce would have remained $350,000 for the past three years.
However, because users had bitcoins, the price changed from 55 bitcoins to just 7 bitcoins in a few years. Of course, this price may also change in the coming years, but for now, people have leverage when they pay for luxury vehicles with their collected BTCs.
Similarly, btc cash and nano are also great currencies to purchase cars. Nano is a new currency in comparison with BTC but it is also gaining momentum because of its backing by reputed financial institutes.
Ready to Buy a Rolls Royce?
If you are looking to buy crypto cars, then don’t wait further. Use your bitcoins today and buy a car that you think has the best value for the money. However, if you believe that the bitcoin price will rise even further in the next three months, then keep a hold of your bitcoins and let the price rise. Buy the car for even cheaper when the price rises and the car’s fiat price remains the same.
Or, if you have any questions about how to purchase Rolls Royce with cryptocurrency, then get in touch with the right dealer.
About the Author
Alycia Gordan is a freelance writer who loves to read and write articles on healthcare technology, fitness and lifestyle. She is a tech junkie and divides her time between travel and writing. You can find her on Twitter: @meetalycia