Karma Automotive Opens Bitcoin Payment Option for the Sale of Luxury Electric Cars


Karma Automotive is a Southern California based creator of electric vehicles. The company is using its store in Newport Beach to help further its shareholder expertise in blockchain technology. Karma is now accepting cryptocurrency as a form of payment. The CEO Dr, Lance Zhuo announced that

“We are opening our platform to serve as a testbed to help convert theoretical blockchain applications to practical use.”

The Company’s Efforts Towards Cryptocurrency mode of Payment

The company has relocated its store to the 4040 campus drive Newport Beach. The aim is to provide the company with enough space and resources needed to ensure further growth and scalability to accommodate multi-vehicle lineup. The store will support the company’s efforts to prove emerging technology and provide the latest VIP customer treatment by accepting Bitcoin cryptocurrency.

The automaker is represented by a growing list of retail partners in the U.S, Canada, and other export markets. It also kicked off a period of massive production, including the U.S. launch of its 2020 Revero GT luxury electric vehicle to be followed by an all-new fully-electrified global platform in 2021. The move is expected to increase the company’s sales on different continents.

The company is confident with the form of payment, as it has experimented in the sale of other automotive. Dealers of Mercedes BMW, Ford, and a few others have experimented with the cryptocurrency payment mode.

Bitcoin as a Convenient form of Payment

The Bitcoin method of payment has attracted the attention of most investors and has gained remarkable growth. It is because they are entirely digitalized and work on a distributed and decentralized basis, with no central intermediary. Most investors have gained trust with cryptocurrencies, as payments are made directly from one user to another, and get verified by the entire network. It is a transparent process, as all computers hold transaction details on the web.

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