Buying a second-hand car with cryptocurrency in South Africa.

Article by My Broadband ~ 14 May 2022

Cryptocurrency voucher and payments provider 6Dot50 has announced the launch of Trading Auto Prestige on its platform.

The partnership will let South Africans buy second-hand cars from the online dealership using cryptocurrency, 6Dot50 stated.

6Dot50’s platform supports six cryptocurrencies — bitcoin, ether, bitcoin cash, litecoin, dash, and ripple (XRP).

“We have been overwhelmed by the number of crypto users requesting that we add car dealers to our merchant network,” said 6Dot50 director Warren Venter.

To buy a car with crypto, users will purchase 6Dot50 Digital Rands (DZAR) vouchers and transfer their DZAR to Trading Auto Prestige as payment.

“The 6Dot50 platform enables us as Trading Auto Prestige to encourage our customers to spend their crypto value without us having to deal with the inherent volatility risks that have prevented crypto from being a viable payment method,” said the dealership’s CEO, Rynhart van Staden.

“We enjoy risk free payments and the benefit of tapping into an untapped cryptocurrency value store. It was really simple to add 6DOT50 as an alternative way for our customers to pay.”

In addition to its DZAR vouchers, 6Dot50 offers cryptocurrency payments through Zapper QR codes, wiCode, and airtime and data purchases.

The company says it has processed over R2.4million in crypto to merchant transactions.

Its merchant network includes the Shoprite Group (Checkers, uSave, Shoprite) and various Famous Brands entities such as Steers, Wimpy, Milky Lane, and Debonairs.

Incredible Connection, Mr D, and Nandos are also supported on the platform.