The Colorado Division of Motor Automobiles (DMV) has announced that it now accepting Bitcoin and cryptocurrency as a cost choice by PayPal for Coloradans to renew driver’s licenses, identification playing cards, and car registrations.
“On the DMV, we’re at all times in search of methods to higher serve Coloradans and leverage expertise to supply our providers,” mentioned Senior Director Electra Bustle. “This new on-line cryptocurrency cost choice is one more manner the DMV is offering modern and handy service supply to our clients.”
This is the way it works: clients simply have to pick the cryptocurrency cost choice, and they are going to be redirected to PayPal, the place they will select their most well-liked cryptocurrency to finish the transaction. The chosen cryptocurrency is then transformed into {dollars}, protecting the full quantity due together with relevant charges, earlier than being remitted to the DMV.
Nevertheless, it is vital to notice that there’s a service charge related to utilizing cryptocurrency, amounting to $1 plus 1.83% of the full DMV fees. Moreover, PayPal might apply its personal charges. As of now, PayPal is the only real cryptocurrency supplier accepted for on-line DMV funds.
For these excited by studying extra about this improvement and learn how to use Bitcoin or cryptocurrency for DMV transactions, you may go to the official Colorado DMV web site here.