Auto dealership accepts Litecoin for Tesla purchase

Benz and Beamer auto dealership has announced it sold a Tesla Model SP85 to an anonymous customer for 5,447 litecoin, an equivalent of USD90,000 at the time of purchase.

The dealership processed the transaction in partnership with GoCoin, which is the first international payment platform to accept the alternative currency market with litecoin support. Litecoin has now become a popular crypto currency like Bitcoin as there is more than 25 million coins with a total market cap of USD165m.

“GoCoin makes it extremely easy for us to accommodate new customers looking to pay with Bitcoin and other emerging digital currencies like litecoin,” said the dealer, Naresh Shah. “Their platform secures the coin exchange for cash within minutes, creating a real win/win for my dealership and my customers.”

“When you consider transactions like this one approaching six figures, litecoin is proving there is room in the market for digital currencies beyond Bitcoin,” said Steve Beauregard, founder and CEO of GoCoin. “We’re confident that we’ll see dogecoin and other alt-currencies emerge to these levels as the markets mature.”

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