Porsche Dealer in Maryland Now Accepts Crypto as a Form of Payment

• BitPay also tries to protect its customers from fluctuations in bitcoin’s price.
• Porsche Towson has dealerships in Maryland and Pennsylvania.

An American Bitcoin payment service provider, BitPay, has revealed that Porsche Towson is now taking cryptocurrency payments for its automobiles, including Bitcoin, Ethereum, and Shiba Inu, among others, from customers in the Baltimore region. According to a tweet from BitPay, a Porsche dealership in Towson, Maryland, is now taking bitcoin and other cryptocurrencies as payment.

Payment processing providers like BitPay make adopting bitcoin as a means of exchange simpler by removing the technological barriers that prevent many businesses from accepting it. For example, those who have previously purchased premium cars from Porsche Towson via standard methods like financing, leasing, trade-ins, and so on may now do so using bitcoin.

Regular Billing and One-time Payments

In order to accept cryptocurrencies like BTC, Bitpay provides an application programming interface that removes the burden from company owners, allowing them to focus on running their enterprises (API). Using this solution, businesses may use bitcoin and other cryptocurrencies for regular billing and one-time payments.

BitPay also tries to protect its customers from fluctuations in bitcoin’s price. For example, the 1 percent BitPay transaction fee is deducted from each dollar a company charges for a product or service before distributing it to the merchant.

BitPay revealed at Bitcoin 2022 that their payment processing infrastructure now supports the Lightning Network, enabling BitPay merchants to accept payments at a lower cost and quicker via the Layer 2 protocol. Porsche Towson has dealerships in Maryland and Pennsylvania where one can purchase a new Porsche, a certified pre-owned Porsche, or lease a Porsche. Maryland is home to Baltimore, Lutherville-Timonium, Hunt Valley, Bel Air, and Towson.