RIO DE JANEIRO, BRAZIL – The Dietrich Group, owner of Volkwagen and Ford dealerships, announced that a Volkswagen Nivus has become the first car in Argentina to be purchased with Bitcoin.
A VW Nivus Hero Tiptronic is listed at a price of 3.87 million pesos, equivalent to US$38,700 at the official exchange rate. In other words, a full-extras Nivus costs less than one Bitcoin or the equivalent of 94.5 million satoshis (the smallest unit of a bitcoin, each made up of 100 million satoshis). The company did not name the buyer.
The transaction was conducted jointly with cryptocurrency startup Bithan and involves the reservation of a VW Nivus Comfortline. In addition to reserving the car, a subscription to a savings plan using cryptoassets is available, although the installments are not.
The payment process is as follows: the parties involved in the negotiation establish the conditions in Argentine pesos. Once this step is completed, Bithan processes the payment and sends a QR code to the payer who has 15 minutes to make the transaction with Bitcoin (BTC), Tether (USDT), Dogecoin (DOGE), DAI (DAI) and “other cryptocurrencies.” Finally, the rest of the process occurs as in any other car purchase in Argentina.
Bithan also offers the possibility of depositing cryptocurrencies in its platform and transferring the proceeds to the payment of a vehicle savings plan. However, this service is still in its pilot phase and can only be accessed by invitation.
The Dietrich Group also announced that accessories, spare parts and maintenance services can also be purchased with cryptocurrencies. The company has two specialized vendors for these types of transactions.
Globally, companies such as Tesla began accepting cryptocurrencies, particularly Bitcoin, as a means of payment, as well as BMW and Nissan in certain countries.
In Argentina, Mercado Pago, Mercado Libre’s digital wallet, is analyzing the feasibility of implementing tools for holding and sending cryptocurrencies in its app.
The inclusion is not imminent, but the intention to move in that direction with important precedents in the cases of Paypal and Square would imply a leap for the widespread use of cryptocurrencies in Latin America.
Source: Ambito