The Colorado Division of Motor Automobiles (DMV) has introduced that it now accepting Bitcoin and cryptocurrency as a cost possibility by way of PayPal for Coloradans to renew driver’s licenses, identification playing cards, and automobile registrations.
“On the DMV, we’re at all times on the lookout for methods to higher serve Coloradans and leverage expertise to supply our providers,” stated Senior Director Electra Bustle. “This new on-line cryptocurrency cost possibility is yet one more manner the DMV is offering modern and handy service supply to our prospects.”
This is the way it works: prospects simply have to pick out the cryptocurrency cost possibility, and they are going to be redirected to PayPal, the place they’ll select their most well-liked cryptocurrency to finish the transaction. The chosen cryptocurrency is then transformed into {dollars}, overlaying the entire quantity due together with relevant charges, earlier than being remitted to the DMV.
Nonetheless, it is vital to notice that there’s a service payment related to utilizing cryptocurrency, amounting to $1 plus 1.83% of the entire DMV costs. Moreover, PayPal could apply its personal charges. As of now, PayPal is the only real cryptocurrency supplier accepted for on-line DMV funds.
For these keen on studying extra about this improvement and tips on how to use Bitcoin or cryptocurrency for DMV transactions, you possibly can go to the official Colorado DMV web site right here.
