The value of 1 Bitcoin is USD 6500 as of 26th Oct’ 2018, this is actually 80-90% more than the average monthly salary according to the Bureau of Labor Statistics, USA. Bitcoin can be divided into eight decimal prices and soon eventually it will cost very less to send a transaction. Hence, it will be accepted by the masses. Also Bitcoin has regulatory problems with the exchanges because of it’s decentralized nature and the rise of ponzi schemes using cryptocurrency.
Let’s think of payments of more than 10 Bitcoins, the transaction fees is 0.0005 Bitcoins on an average and it would take less than 30 minutes to get 5-6 confirmations on the blockchain. It can be done on the spot and the owner can drive home in his Mclaren.
Furthermore, the rest ten percent of the world that is actually rich use it seamlessly to buy the most exquisite items on the market. The market includes Mclaren and Ferrari Dealers, yacht or a luxury boat, BitPremier and De Louvois online portals, several listings of real estate in Dubai, USA, Canada and Australia.Mclaren and Ferraris have started accepting Bitcoins (BTC) and other popular cryptocurrencies! Click To Tweet
These Bitcoin payments are convenient than before; when the bitcoins are transferred it provides an assurance of receiving balance in a few minutes. Although when one writes a banking bill/cheque it takes times as the transfer has to be approved and transferred between two banks.
According to a recent report 70% of the luxury cars are not bought first-hand. Hence, the online market is flooded with listings that accept Bitcoin as payment. There is also a huge market of antiques exchange in cryptocurrency as well, one of the most popular item that went on sale for Bitcoins was a Peter Beard original photograph for around BTC 15,100.Peter Beard original art piece was sold for BTC 15,100. Click To Tweet
The White Company, established by Elizabeth White in 2017, is the most popular luxury market place that accepts cryptocurrency. It guarantees world-wide delivery and the items can be bought anonymously after paying sales tax. The White Company deals in all kinds of luxury cars from Lamborghini to Rolls Royce, fine watches and arts.