When you think of buying and selling a car, your mind automatically goes to doing so in a conventional way. You visit a car dealership, select a car, and pay via fiat currency. However, did you know that now there is a new way you can do it all?
Via cryptocurrency! Even though cryptocurrencies were launched in 2008, it has taken them almost a decade to become mainstream. It is predicted to have a market value of $60 billion by 2020. Now, the blockchain technology along with the digital currency is causing positive disruption in various industries. One such industry is the automotive industry.
Now you can buy cars using the AutoCoin, which is a cryptocurrency explicitly made for the auto sector. Why would you want to use it instead of fiat money? Well, here are the three core benefits associated with using AutoCoin.
It guarantees anonymity
You might not realize it, but in every transaction, you take part in, your personal information is at the risk of being exposed. We live in a world where data breaches are quite common. The benefit of buying cars using the AutoCoin is that none of your sensitive personal information gets stored. This is because cryptocurrencies are known for delivering a high level of anonymity and discreetness. This makes every transaction secure and private. So, when you pay using the AutoCoin, you won’t have to give any personal information. The cryptocurrency uses smart contracts to conduct the transaction and closely mimics the Ethereum model.
It saves money
This advantage is highly linked with the one mentioned above. Because the purchase is anonymous and discreet, the AutoCoin doesn’t require you to go through a financial intermediary to complete a transaction. Instead, you can purchase cars without the need of any banks. This helps you in saving the money you would have otherwise spent on the transaction cost. Therefore, when you purchase cars using the AutoCoin, you will get a much more cost-effective deal.
You don’t have to worry about global exchange rates
The world is now a global village. Just because you live in Country X doesn’t mean you can’t avail the services of Country Y. Sadly, in most cases, purchasing cars across borders is still quite a hassling process. One of the most significant problems is pricing. Global exchange rates are prone to fluctuations. The same car that costs you less today can cost you more by the time you decide to seal the deal.
The AutoCoin can combat this issue successfully. This is because unlike fiat currency that is dependent on global exchange rate, AutoCoin is not. Instead, it remains stable regardless of fluctuations. This helps in making global transactions much more convenient than before.
It is safe to say that the AutoCoin surely makes purchasing cars an easier process than before. If you are tired of the hassle of buying cars the old way, give the AutoBlock and the AutoCoin a try.