Tesla Begins Accepting Bitcoin — Elon Musk Says BTC Payments Will Not Be Converted to Fiat Currency

Tesla, Elon Musk’s electric car company, has started accepting payments in bitcoin. Musk, who is now Tesla’s Technoking, also confirmed that all bitcoins paid to Tesla will be kept as bitcoins and not converted to fiat currency.

Tesla now acceptsbitcoins

Tesla has started accepting payments in bitcoins. Elon Musk, who recently changed his title from Tesla CEO to Tesla engineer, announced that on Twitter Wednesday morning: You can now buy a Tesla with bitcoins. A bitcoin payment option has also been added to Tesla’s website, along with a page explaining how to pay with the crypto currency.

Musk also said on Twitter that the bitcoin payment option will be available outside the US later this year. Moreover, a Tesla engineer confirmed that the bitcoins paid by Tesla are kept as bitcoins and are not converted into fiat currency, stating that his company only uses internal and open-source software and manages the bitcoins directly.

Tesla Begins Accepting Bitcoin — Elon Musk Says BTC Payments Will Not Be Converted to Fiat Currency

A page about paying in bitcoin has been added to Tesla’s website, stating that bitcoin is the only crypto currency accepted by Tesla. The way to pay with BTC is described in detail on the site:

Start paying with your bitcoin wallet. You can scan the QR code or copy and paste the bitcoin address and the exact amount of the bitcoin into your wallet.

On the time it takes to process a bitcoin payment, Tesla wrote: Once you have sent bitcoins from your wallet, the page will be updated in a minute. …. We will send you a confirmation email as soon as payment is received. This could take up to six hours.

Tesla first revealed its intention to accept bitcoin payments in a filing with the US Securities and Exchange Commission (SEC) last month, when it also told the regulator that it had purchased $1.5 billion worth of bitcoins.

What do you think about Tesla embracing and preserving bitcoin? Let us know your comments in the section below.

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frequently asked questions

How do I convert BTC to Fiat?

Most cryptocurrency exchanges don’t allow you to deposit money, but some do. This is how it works: You deposit your bitcoins on the exchange. Once the exchange has received your bitcoin, you can request payment in fiat currency. The most common payment method is a cashless bank transfer.

What does Elon Musk say about bitcoin?

Bitcoins paid to Tesla will be kept in bitcoin form and will not be converted to fiat currency, Musk explained in a tweet. This means that if someone buys a Tesla with bitcoins, the price of the car could rise – or fall – over time.

Does Tesla accept bitcoins?

What crypto-currencies does Tesla accept? Bitcoin is the only crypto currency that Tesla accepts.

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