The Colorado Division of Motor Autos (DMV) has introduced that it now accepting Bitcoin and cryptocurrency as a cost choice by way of PayPal for Coloradans to renew driver’s licenses, identification playing cards, and car registrations.
“On the DMV, we’re at all times on the lookout for methods to higher serve Coloradans and leverage know-how to supply our companies,” mentioned Senior Director Electra Bustle. “This new on-line cryptocurrency cost choice is one more method the DMV is offering modern and handy service supply to our prospects.”
Here is the way it works: prospects simply have to pick out the cryptocurrency cost choice, and they are going to be redirected to PayPal, the place they will select their most popular cryptocurrency to finish the transaction. The chosen cryptocurrency is then transformed into {dollars}, overlaying the full quantity due together with relevant charges, earlier than being remitted to the DMV.
Nonetheless, it is essential to notice that there’s a service price related to utilizing cryptocurrency, amounting to $1 plus 1.83% of the full DMV prices. Moreover, PayPal might apply its personal charges. As of now, PayPal is the only cryptocurrency supplier accepted for on-line DMV funds.
For these all in favour of studying extra about this growth and how you can use Bitcoin or cryptocurrency for DMV transactions, you possibly can go to the official Colorado DMV web site right here.