Tag Archives: Cryptocurrency

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Ferrari expanded crypto payment to Europe

In October 2023, Ferrari announced that buyers in America will be able to pay for their cars in cryptocurrency. The reason was that the manufacturer reaches people who are not necessarily buyers of our brand, but who can afford a Ferrari. Now the service has been extended to Europe.

When the first cryptocurrency (Bitcoin) was created in 2009, few believed that it would survive. Today, there are hundreds of different cryptocurrencies on the market, and many still think they have no future. Many manufacturers still do not believe them, but Ferrari tried its luck in America and succeeded.

In the US, Ferrari has reached an agreement with a bitcoin payment service provider (BitPay) to process payments in cryptocurrencies such as Bitcoin, Ether and USDC. This system protects traders from price fluctuations by instantly converting digital currencies into traditional currency. Also, the advantage is that there are no fees or additional payments for clients.

It was not mentioned when this system will become possible in Europe, and according to statements from Maranello, most dealers have already adopted or are in the process of adopting the new system. Of course, Ferrari will not limit this payment option only to Europe and America, because soon customers in other markets will also be able to use it.

Source: Ferrari

News

Ferrari cars can be paid in cryptocurrency

When the first cryptocurrency, Bitcoin, was created in 2009, few believed that it would survive. Today, there are hundreds of different cryptocurrencies on the market, and many still think they have no future. However, Ferrari has announced that buyers in America will be able to pay for their cars in cryptocurrency.

Why did Ferrari choose this option? “Paying in cryptocurrency will help the Maranello-based manufacturer reach people who are not necessarily buyers of our brand, but who can afford a Ferrari,” said Enrico Galliera, director of sales and marketing at Ferrari.

Buying a car with cryptocurrency is not new, and Ferrari decided to make this move after customer demands. The Italian manufacturer of sports cars has reached an agreement with BitPay through which purchases of new Ferraris will be made in Bitcoins, Ethers or USDC.

BitPay will convert the payment into traditional currency at the time of transaction to avoid problems with exchange rate fluctuations. America will not be the only market where customers will have this option, as from next year, customers in Europe will also be able to do so.

Of course, Ferrari will not limit this payment option only to Europe and America, because soon customers in other markets will also be able to use it.

Source: Ferrari