Vegas Auto Gallery, a luxury auto dealership in Las Vegas, has become a playground for wealthy bitcoin investors who want to cash in. Despite those inroads, industry watchers say bitcoin must gain traction as a form of payment to become more ubiquitous. Two months ago, PayPal Holdings Inc. opened its platform up to bitcoin, allowing its 361 million users world-wide to buy or sell the asset. The dealership doesn’t assume any added risk by accepting bitcoin because BitPay converts the bitcoin to dollars before the transaction is completed. The median transaction fee is currently around $5, according to the website BitInfoCharts, but the average is more than $9, and it varies wildly, depending on network traffic.

Source: Mint January 01, 2021 02:15 UTC