For what it's worth, Elon Musk is having a lot of fun blasting cryptocurrency values up and down and people are currently on so-called emotional roller coasters. For example, his latest Twitter stunts, which hinted that Tesla might sell his Bitcoins, caused the digital currency to plummet.
The services will be offered through BitPay
We have entered the era of cryptocurrencies and have been for years now, but people still don't know what to think about these fairly intangible things. Some invest and lose money, others do the same and earn, but a fact remains: cryptocurrency is increasingly present in our lives, and for those who sell stuff, it could just be another source of income.
Tesla was the first major automaker to announce that it will accept bitcoin as a payment method for its products (before taking a resounding backtrack). Sure, a little bit of everything has happened since then, speaking of environmental concerns (and causing another drop for the currency), but his gesture has opened the door for others to open even more.
The most recent example comes from the Mecum auction house, one of the largest organizations of its kind. In a statement released just this week, he announced that he would start accepting cryptocurrencies as a means of payment. This would be done through the services provided by BitPay.
Technically, given how most of last year's auctions took place online and not in person, such a move is natural. For Mecum, if successful, the move would open up possible new sources of income.
How to buy with cryptocurrencies
According to the auction house, the currencies accepted for payment in exchange for cars and motorcycles are practically all the major currencies currently available on the market. Among the many, Bitcoin, Ethereum and Dogecoin are mentioned. Aside from these, Mecum will also accept what are considered stablecoins, namely USD Coin, Gemini Dollar or Binance USD.
No time will be wasted implementing the new payment option, and buyers will be able to use their cryptocurrencies starting this week when a huge auction is held in Indianapolis.
But before you can buy your car at auction, you first need to be in possession of some cryptocurrencies. What is your e-wallet like? Crying worse than the real one?
Well then you should start trading some cryptocurrencies with platforms like Bitcoin Pro, which allow you to trade many cryptocurrencies, at a very low cost.
Trading these days while the markets are down could be a big plus even for those with long positions. Some claim that the best time to buy cryptocurrencies is when the markets drop.
A big supporter of this theory is Anthony Pompliano, who on Twitter always tries to throw water on fire. His HODL stance on cryptocurrencies is known to all, as is his favor with bitcoin in particular.