The Colorado Division of Motor Automobiles (DMV) has announced that it now accepting Bitcoin and cryptocurrency as a cost possibility by PayPal for Coloradans to renew driver’s licenses, identification playing cards, and car registrations.
“On the DMV, we’re all the time on the lookout for methods to raised serve Coloradans and leverage know-how to supply our companies,” mentioned Senior Director Electra Bustle. “This new on-line cryptocurrency cost possibility is one more means the DMV is offering progressive and handy service supply to our prospects.”
Here is the way it works: prospects simply have to pick the cryptocurrency cost possibility, 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}, masking the overall quantity due together with relevant charges, earlier than being remitted to the DMV.
Nevertheless, it is necessary to notice that there’s a service price related to utilizing cryptocurrency, amounting to $1 plus 1.83% of the overall DMV fees. Moreover, PayPal might apply its personal charges. As of now, PayPal is the only cryptocurrency supplier accepted for on-line DMV funds.
For these taken with studying extra about this improvement and how you can use Bitcoin or cryptocurrency for DMV transactions, you possibly can go to the official Colorado DMV web site here.