• Classic Parade is introducing a new crypto payment system to its rental services.
• Customers can pay for rental cars with cryptocurrency such as Bitcoin and Ethereum.
• The move aims to make it easier for customers to rent cars without going through the hassle of exchange rates and transfer fees.
Classic Parade Introduces Crypto Payment System
Last year, Classic Parade – a company offering classic and luxury vehicles rentals – announced that they would let crypto fans rent their cars using cryptocurrency. Now, they are taking things one step further by introducing a brand new digital currency payment system.
Why Use Crypto?
The transactions are immediate and deposits can also be taken in crypto, plus identity checks needed to hire a vehicle can easily be processed. This way, customers can also provide adequate ‚know your customer‘ checks when necessary.
The Lamborghini Huracan Spyder is currently the most popular car for summer rentals at 1 day costs of £1,100 or 1.21 ETH or 0.064 BTC . The company expects great interest from crypto investors in the upcoming months due to its affordability and convenience when it comes to renting out supercars.
Crypto’s Original Purpose
It is important to remember that while cryptocurrencies have been used for speculation or hedging purposes in recent years, they were originally designed as payment tools to push away credit cards, fiat currencies, and checks from the market.
Crypto Volatility Deters Companies
The unpredictable nature of cryptocurrencies has made many companies hesitant about accepting them as payments since their prices could either go up or down without any warning signs. This makes it difficult for stores and companies alike to decide whether or not they should accept crypto payments in the first place.
Despite the volatility associated with cryptocurrencies, companies like Classic Parade are still embracing them as viable forms of payment which shows that we may be closer than ever before in achieving bitcoin’s original goal of being adopted as an everyday mode of payment on an international level.