Updated: Feb 10
First it was PornHub, then a few technology companies, then hotels and online gaming platforms. The number of businesses accepting cryptocurrency is increasing by the day and Daytona Nissan is the latest example. "The Florida-based Nissan dealer announced today that they will be accepting Dogecoin (with some pretty heavy caveats)."
Lead by Bitcoin, the price of crypto currencies have been rising rapidly, so it's not surprising businesses are moving to adopt crypto due to it being an appreciating asset. Dogecoin Billboards have been popping up all over the world, literally; even Times Square New York. celebrities by the day have been lending their support to dogecoin and it is quickly becoming an household name. So It's not shocking that these legitimate companies would begin to accept dogecoin. Though it may have started as a joke, it's technology is no joke. It's even much faster than Bitcoin and other cryptos.
Nevertheless, cryptos are volatile, so there are certainly risks in accepting it, which explains when the terms and conditions that accompanies this decision by Daytona Nissan.
"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."
Businesses are seeing this as an opportunity to capitalize on the recent crypto boost,
"At the time of writing, Dodecoin was worth $0.070277, which means you’d need quite a lot to reach the $5,000 deposit."
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.