Over the last year our customers started noticing our companies locations and websites all started accepting Bitcoin, Litecoin, Dogecoin, Ethereum, and Dash. The main reason we started accepting these currencies is that it helps to open our customer base and to help international customers with lower fees and faster transactions without the exchange rate.
Originally our board of directors decided to accept just Bitcoin but as the months went on we started noticing customers asking if we accepted dogecoin or litecoin so we looked into expanding our payment options. Just recently we added Dash and currently were looking into adding other options as well.
As a result of adding these options we have seen a increase in customers looking for auto parts and new and used tires. This also allows us to ship products faster since we don't have to wait for credit card transactions to be approved and deposited, or wait for PayPal to exchange a currency. Even our customers have started noticing a faster turn around time and quicker customer service.
But one thing we went ahead and did is also added the option for customers to sell us Bitcoin, Dash, Ethereum, Dogecoin, Litecoin, and soon we will be adding the option for customers to sell us Zcash. For these customers they can sell us to online by email or soon to come through our company website. Some locations offer the option of selling on location but the Bangor Maine and Baileyville Maine locations wont offer that into 2018. These customers are paid by check mailed to them within 48hrs of selling there coins based on the exchange rate at the time they sold them, we don't charge any fees for this service.
A little back story for anyone interested.
Our company owners started dealing in cryptocurrency in early 2016 but at the time we didn't realize how many customers would be interested in using there digital currency to pay for auto parts or even auto repair. After we started getting asked by customers we made the decision to look into adding these as additional payment options. So in Dec 2016 we started accepting the above currencies with the exclusion of Dash which was added in March 2017.
Other options were hoping to add soon.
Soon were hoping to add the option for customers to receive Bitcoin, Dash, Litecoin, Dogecoin, Ethereum, or Zcash for there scrap metal or junk vehicles instead of payment by check (required by state law for all scrap processors unless paying by debit card, etc...) this would allow drivers to feel safer by not carrying cash around with them and help our office staff to save time.
Were also looking into adding cryptocurrencies to our payment methods for roadside assistance and towing services.
We decided to add this topic since were asked why we accept these payments often by customers and thank for reading.