The Colorado Division of Motor Automobiles (DMV) has announced that it now accepting Bitcoin and cryptocurrency as a fee choice by means of PayPal for Coloradans to renew driver’s licenses, identification playing cards, and automobile registrations.
“On the DMV, we’re all the time on the lookout for methods to raised serve Coloradans and leverage know-how to supply our companies,” mentioned Senior Director Electra Bustle. “This new on-line cryptocurrency fee choice is yet one more means the DMV is offering progressive and handy service supply to our clients.”
This is the way it works: clients simply have to pick the cryptocurrency fee choice, and they are going to be redirected to PayPal, the place they will select their most popular cryptocurrency to finish the transaction. The chosen cryptocurrency is then transformed into {dollars}, protecting the entire quantity due together with relevant charges, earlier than being remitted to the DMV.
Nonetheless, it is necessary to notice that there’s a service payment related to utilizing cryptocurrency, amounting to $1 plus 1.83% of the entire DMV fees. Moreover, PayPal could apply its personal charges. As of now, PayPal is the only cryptocurrency supplier accepted for on-line DMV funds.
For these fascinated about studying extra about this improvement and tips on how to use Bitcoin or cryptocurrency for DMV transactions, you’ll be able to go to the official Colorado DMV web site here.
