EV Dealer Says, “I Just Sold a Tesla Cybertruck Owner a Model S and He Used Crypto To Buy It, This Is the Future of Auto Transactions”

Are you ready to experience the convenience and efficiency of buying a Tesla Model S or a Cybertruck with Cryptocurrency?

In his TikTok clip, Alex (@evautoalex), an EV dealer, shares his excitement about the growing trend of using cryptocurrency for car purchases. He just sold a Tesla Model S to a Cybertruck owner who paid with Cryptocurrency. Let's find out more about this Tesla Model S purchase. 

Cameron, a Tesla Cybertruck owner, is an expert in all things crypto.

Alex says, "I posted on social media that I take crypto for cars. Cameron, who is a big crypto expert, stopped in, and he's buying a Tesla Model S from me for his mom and then driving it back to southern Utah." 

"I'm going to have him educate me a little bit, and I will take my first crypto payment, and then I'm going to let it ride. I'm not going to cash it in right away. I'll let you know how it goes."

Cameron arrives at EV Auto Alex's showroom.

Alex looks over the black Tesla Model S, and he approves. "So do you like it?, Alex asks." Yeah, it's fantastic. But I also like that Cybertruck that's sitting on your lot; the wrap is crazy." 

"Yeah, I will sell you the Cybertruck for crypto," Alex says, walking over to the window to look at the truck.

Cameron says, "I bought one of the first Cybertrucks when they first came out; it's pretty cool." 

"Did you wrap yours?" Alex asks.

"I did. It was black and gray, and then they put it in Fortnite, so now it looks like a Fortnite car."

Alex can't wait to learn more about Cryptocurrency, "So, tell me your story." 

Alex had done his homework on Cameron.

"I checked out your socials, and you are a huge crypto influencer." 

"Yeah, I've been making videos online since I was 13 and doing many different things; crypto has been the biggest. It's changed my life, and I think what we are doing today is not done anywhere else except for Dubai," Cameron says. 

"It reminds me of the revolution with tap-to-pay that didn't used to be a thing, but now you don't even need your wallet. Crypto will be like that in the next five to ten years, and it will all be paired up with some type of wallet."

No more wiring funds and using routing numbers.

"You'll be able just go and do it, and it's so much easier than going to a bank, getting a cashier's check, or wiring money where you have to get the account number, routing number, and make sure you double check it." 

"But with crypto, you can just pay it off your phone." 

Alex says, "It's insane what makes some people scared of it, right."

"I think that crypto is going to be the next iteration of payments in the future," Cameron says with conviction.   

Alex. "I agree. I've been offering it for a couple of years now. I've had some people get close, and I say the same thing. Look, I'll take pretty much anything."

Cameron continues, "It's going to be nuts. I can get nerded out about it all day."

Alex. "I'm glad you can educate me, and you are educating my followers. I was stoked when you reached out and said, I'll do it, man. So you are suggesting I take XRP?" Alex says quizzically. 

Cameron says, "XRP 100%." 

Alex. "So, here's the kicker. I'm not going to convert it; I will let it ride. I'm just going to see how it goes." 

Cameron. "So everything right now is at all-time highs. You might hold some red, but I think the next four years will be phenomenal." 

Alex is ready to sell his first car using crypto.

"Okay, so let's check the Model S. Your mom will love it. Let's go out and look at it." 

Alex shows Cameron the black Tesla Model S with a ceramic kit, tint everywhere, and 21-inch Arachnid wheels, PPF on the entire front end, and says, "It's virtually perfect." 

Cameron says, "I don't even need to drive it. I'm good, man. So let's do this." 

Next, Cameron gets on his phone, and they do the transaction while standing on the showroom floor. 

Alex says to conclude, "If anyone wants to pay with crypto, I will give them a free mobile charger." 

Buying a Car With Cryptocurrency

Kelley Blue Book says there are a few ways to buy a car with Cryptocurrency. Some online car marketplaces, such as Car for Coin and BitCars, allow you to exchange crypto — primarily bitcoin — for a vehicle.

"There is an easy way to use Cryptocurrency as payment anywhere that accepts debit cards. Crypto debit cards like the BitPay Mastercard and Coinbase Visa card work just like regular debit cards, but they draw funds from your crypto wallet rather than a bank account."

"Some of BitPay's trusted partners include Exclusive Automotive Group in the Washington, D.C., area, O'Gara Coach in Southern California, and Infiniti of San Jose, California, but you can use a BitPay card anywhere Mastercard is accepted." 

"You can use a crypto debit card for a deposit, down payment, monthly payments, and insurance payments, but finding a dealer that lets you buy a car outright with a crypto debit card is more challenging."

"BitPay supports many major cryptocurrencies, stablecoins, and even some meme coins like Dogecoin and Shiba Inu. A meme coin is a cryptocurrency with a humorous characteristic inspired by an Internet meme."

Buying a Tesla vehicle with Cryptocurrency

KBB says Tesla CEO Elon Musk has gone back and forth on accepting Cryptocurrency as payment at Tesla stores. As of this writing, Tesla stores only accept Dogecoin for some merchandise. 

"However, if you'd like to buy a Tesla or another electric car with Cryptocurrency, you might find some for sale on the crypto exchanges or at the car dealerships mentioned below."

• Jeff Wyler Automotive Family with at least 23 dealerships in Ohio, Kentucky, and Indiana
• Carriage Auto Group with dealerships in Georgia and Alabama
• Bob Moore Auto Group in Oklahoma
• Edmark Toyota in Nampa, Idaho
• Lamborghini Newport Beach in Irvine, California
• Reed Jeep Chrysler Dodge Ram in Merriam, Kansas
• Porsche Towson in Towson, Maryland
• BMW of Rockville in Rockville, Maryland
• MotorCars of Atlanta in Atlanta, Georgia

Conclusion: 

Alex just sold a Tesla Model S to Cameron using Cryptocurrency. It took Cameron a few minutes to pay for the Tesla Model S for his mom on his smartphone and another few minutes for Alex to check his account, and the auto purchase transaction was done.

While the use of cryptocurrency for car purchases offers convenience and potential financial gains, it also comes with certain risks such as price volatility and security concerns. It's important to weigh these factors before making a decision.

Cameron says it's the future of auto transactions, and Alex is jumping in. Are you ready?

Tell us about your experience with Cryptocurrency. Click the red Add New Comment link below and join the conversation.

Check out my Tesla Cybertruck story: Tesla Cybertruck Owner Says, “Ford, Rivian, and GMC’s Only Breakthrough Is Slapping a Battery Into a Few Trucks, While the Cybertruck is the Rookie MVP"

I am Denis Flierl, a Senior Torque News Reporter since 2012. My 30+ year tenure in the automotive industry, initially in a consulting role with every major car brand and later as a freelance journalist test-driving new vehicles, has equipped me with a wealth of knowledge. I specialize in reporting the latest automotive news and providing expert analysis on Subaru, which you'll find here, ensuring that you, as a reader, are always well-informed and up-to-date. Follow me on my X SubaruReport, All Subaru, WRXSTI, @DenisFlierl, Facebook, and Instagram.

Photo credit: Denis Flierl