US Car Dealership BMC Starts Accepting Crypto Payments

Bernie Moreno Companies, a Cleveland-based car dealership group, said on Monday it has started accepting Bitcoin (BTC) and other cryptocurrencies as a means of payment for vehicles and services. This makes Bernie Moreno the first Mercedes and Porsche dealership in North America to accept payments in BTC, Ethereum (ETH), Litecoin (LTC), and other, unspecified, digital currencies. The new form of payment is already available at each BMC dealership.

BMC founder and president Bernie Moreno noted that the new service is aimed to provide more payment options and flexibility to clients.

“This is a full leap into the future. Bitcoin has showed the world the power of blockchain technology. It's now Cleveland's turn to show the world how blockchain can be used to revolutionize the world,” Moreno said.

Moreno is collaborating with other local leaders on the Blockland initiative, which aims to make Cleveland a blockchain center. The leaders propose to build a large tech campus in the city that would host a blockchain startup incubator, relevant events, and programs for students among others.

According to Moreno, the cryptocurrency-based payment method will be quick and easy. Clients will use their smartphones and with a simple tap will be able to move the funds from their crypto wallets to BMC. The company will operate with the up-to-the-minute live exchange rate and claims that no fees would be charged for using the crypto payment method. Moreover, given the nature of blockchain, the technology underpinning Bitcoin and the rest of the accepted coins, the transactions are secure and immutable.

Moreno noted that paying with BTC will be easier, safer, and faster than paying with a credit card. He stressed that the cryptocurrency-based transactions might end up as the best payment method.

Bernie Moreno Companies, founded in 2005, is one of the fastest growing car dealership groups in the US. Currently, clients can buy new and used cars, from Volkswagen to Aston Martin and Infiniti, as well as services and parts.