Honda Now Accepts Bitcoin and Ethereum As Payment Methods

[lombok]

If car dealers in my country gave the option of paying via Bitcoin I would gladly do it. This convenience will certainly be pleasant for me, because there is no need to bother dealing with banks or cash.

I'm looking forward to Toyota and BMW then. Lol

I believe that banks will continue to play a role in these transactions, even if you aren't consciously aware of it. Honda, for instance, would likely promptly convert Bitcoin from their sales into fiat currency to mitigate market speculation and avoid risky market volatility. It appears that Bitcoin will primarily serve as a medium of exchange, and Honda may also request your personal information for vehicle tax purposes in collaboration with the bank.

The real benefit here isn't necessarily to bypass third parties or banks. Instead, it offers convenience when someone invests in BTC, and the price of the car in terms of BTC could rapidly decrease due to the high volatility of the BTC coin.

In my opinion, the third party that will deal with the bank, they are in charge of directly converting BTC into cash or fiat currency (here the third party mentioned by the OP is FCF pay) correct me if I'm wrong.

Regarding BTC price volatility, it has no effect on BTC or ETH which are the means of payment there, because every increase or decrease in the price that occurs in BTC will be directly converted into fiat currency, of course, by a third party.

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[slapper]

The "giant" of Japanese automobiles, Honda, now takes cryptocurrency. The Bitcoin community has probably been saving their coins for this very opportunity to buy a vehicle. Who wouldn't want to exchange an asset that is increasing in value for something that depreciates the moment you drive it off the lot?

Let's also discuss how this "important development" has increased their user base. Really? It's unlikely that members of the cryptocurrency community were idly ruminating, "If only Honda accepted Bitcoin, I'd buy a car."

Which other automobile manufacturer ought to accept Bitcoin? Tesla, perhaps... Oh wait, they did and then changed their minds. Let's not fool ourselves about the market's upward trajectory. Even if Honda's decision is noteworthy, it won't be the only factor in any substantial movement because the cryptocurrency market has its own mind.

[Lida93]

Saw this on X (twitter) and was like wow, what is Elon Musk waiting for? There are  people like me waiting for Tesla cars to start selling in bitcoin before we can give an interest in purchasing it. Lol.

If this go globally, or Honda is starting to implement this across regions Elon must be crazy enough to follow this through with the use of other cryptocurrencies. He's a billionaire, he don't mind accepting crypto as payment even if it does not benefit him monetary,
 

Elon is too intelligent not to know that outside bitcoin and ethereum accepting payment in other altcoins is like putting his business on a time bomb.

No billions can be sufficient for any billionaire to go into a business without monetary benefits, except the intentions as conceived was for charity.
 

I wouldn't stack and hodl BTC over the past years just to use it all in purchasing a car, I'll rather buy a house of mine with btc at this phase, maybe in time to come i may see cogent reasons to expend my crypto on car's.

You can do that if someone sells their house for crypto. At the end of the day, your crypto is money, and you got a full control over it. Don't be mad when I buy a Honda Type-R with my 3 BTC  

Nooo! I won't be it's your decision it's your BTC anyway and you have all the legitimacy to spend it on what you feel satisfactory with it, you certainly don't need to care about how people may react about that.  

I welcome the initiative of Honda company but IMO, cryptocurrency like bitcoin and ethereum are value growing assets and should be expended on things and products that adds value over time. At least not for now.

I think what Honda is doing right now is they are trying to enter a new market, where they can see profit. They won't do it if it's not for the money, at least for their brand relevance. Wouldn't be surprise if they cancel this after a year.

Profit is the driving motivation for going into business and Honda is breaking no rules for going into the market for the money. And I doubt they will wanna cancel or opt out of the market if they're getting the money in the profit they projected for before the adoption.

[TakeItEasy]

Saw this on X (twitter) and was like wow, what is Elon Musk waiting for? There are  people like me waiting for Tesla cars to start selling in bitcoin before we can give an interest in purchasing it. Lol.

I wouldn't stack and hodl BTC over the past years just to use it all in purchasing a car, I'll rather buy a house of mine with btc at this phase, maybe in time to come i may see cogent reasons to expend my crypto on car's.

I welcome the initiative of Honda company but IMO, cryptocurrency like bitcoin and ethereum are value growing assets and should be expended on things and products that adds value over time. At least not for now.

This is a better step,  but in the countries where cryptocurrency is banned,  I didn't think the people of these countries can take some benefits from it. Although in those countries where cryptocurrency is freely open by government can get benefits from it. Because they don't have to cash their payments or transfer it to a bank. And also by sitting at their home,  they can freely give them through bitcoin and Ethereum.

Honda is well-known,  In our country the prices of its cars is quite high and still people are going to buy them more. Honda is most famous in our country,  they are attracting their users. So,  it would be a better choice for the Honda to accept the teo currencies. This will create attraction between both parties,  sellers and buyers.

[naira]

[As the Heading implies. Honda the giant of Japanese automobile now accept bitcoin and ethereum for payment through a third party partnership deal with a blockchain payment system called FCF Pay.
Honda not only taken the bold step of accepting crypto as payment option, also managed to expand their already huge user base with this important development.

I really appreciate Japan steps which are quite interesting. Not only is it a trigger for an increase, this could also have a big impact and if it experiences a trend for its products, it is possible that other automotive labels will soon follow the steps taken by Japan.

With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

For now, I won't do it because I still dare to buy with fiat rather than important assets for future security. The Bitcoin I currently hold cannot be spent massively. As is the ideal momentum for investment, I think Japan also wants to look forward to the next Halving.

*Which other automobile company would you want to also accept btc for payment?

I prefer all the parent automotive companies like Yamaha and Suzuki. So it doesn't focus on just one vehicle.

*Is this news big enough to trigger market uptrend in the coming weeks, months?

For a moment we can see it in the market and the price movement is very supportive for this month remaining on the up trend line. Maybe

[Oasisman]

With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

*Which other automobile company would you want to also accept btc for payment?

*Is this news big enough to trigger market uptrend in the coming weeks, months?

IMO, It don't matter if someone is willing to pay for a luxury car in bitcoin or some regular Honda cars in bitcoin, as long as they recognize bitcoin and willing to accept payments as one of the options, I am truly grateful for it as it adds exposure for bitcoin coming from a giant company.
This might going to be the beginning for the other motor companies to follow what Honda have done to put an extra mile for their customers.
A company who is very flexible in terms of payments option are most likely attractive for their clients.

[Lucius]

As the Heading implies. Honda the giant of Japanese automobile now accept bitcoin and ethereum for payment through a third party partnership deal with a blockchain payment system called FCF Pay.

Luxury cars for Bitcoin? That was possible in Japan 6 years ago and I can't say how that story ended, but somehow it doesn't seem to me that many people paid for their cars with BTC.

https://fullycrypto.com/luxury-japanese-car-dealer-loperaio-accepts-bitcoinc
https://www.financemagnates.com/cryptocurrency/news/japans-largest-car-dealership-now-accepts-bitcoin/

*Is this news big enough to trigger market uptrend in the coming weeks, months?

It's no big news, no matter how excited you are. The fact that someone adds BTC as a payment option does not mean that people will use it. There are thousands of online and physical branches around the world where you can spend BTC, but for most Bitcoin is just an investment they want to profit from.

[Fuso.hp]

If the world famous motorcycle manufacturing company Honda accepts Bitcoin and Ethereum as their payment method, then a new dimension will be added to the transaction of Bitcoin and Ethereum. One of the most popular Japanese motorcycle brands is Honda.  Honda company supplies their motorbikes to different countries of the world. As their motorcycles are exported to many countries in the world, I want to know whether the people of every country will get this opportunity, or if this opportunity is open only to certain countries.  There are still many countries in the world that do not allow Bitcoin. Will Honda accept Bitcoin or Ether as their alternative payment method?

[kingvirtus09]

This is excellent news. Consider one of the massive corporations that will be ranked among the top cryptocurrencies today and tomorrow. To be fair, three big meme coins, Dogecoin, Shiba Inu, and Pepe Coin, are among the options they will accept as a means of payment for their business.

I can see what these three can do in the end when the bull run arrives; it appears that they will surprise us in addition to Bitcoin and Ethereum. Honda has taken another positive step toward digitalization.

[_BlackStar]

-snip-

I really appreciate Japan steps which are quite interesting. Not only is it a trigger for an increase, this could also have a big impact and if it experiences a trend for its products, it is possible that other automotive labels will soon follow the steps taken by Japan.

Increasing adoption is of course always expected to have a positive impact - but Honda does not directly accept bitcoin and Ethereum as a means of payment considering they use third-party services. This means you can't pay for their products with bitcoin without using a third party service as mentioned.

I tend to hope that many car companies will adopt bitcoin as a means of payment directly instead of using third party services - that's much better though they could convert it to USD or store it long term as an investment/hedge asset. IMO - the impact of this adoption isn't that much, it's just fundamentally good in the long term.

[coolcoinz]

*Which other automobile company would you want to also accept btc for payment?

Tesla! Lol

Definitely not for me. I wouldn't buy an electric car for many reasons, one of them being the way they're forced on us by the governments.

I'm going to be honest and say that whatever brand does that I'm not going to use the option anyway.
New cars depreciate extremely fast and often the more expensive the car is the more it depreciates. Check out stories of people who bought Bugatti and tried to sell them after a few years.
Then there's the problem of bitcoin price appreciation. If you get your wage in bitcoin, you might be interested in spending some on a car, but if you get paid in fiat, then convert that fiat to bitcoin to save upo and invest, you're not going to spend your bitcoin on a car when halving is around the corner.

Luxury cars for Bitcoin? That was possible in Japan 6 years ago and I can't say how that story ended, but somehow it doesn't seem to me that many people paid for their cars with BTC.

https://fullycrypto.com/luxury-japanese-car-dealer-loperaio-accepts-bitcoinc
https://www.financemagnates.com/cryptocurrency/news/japans-largest-car-dealership-now-accepts-bitcoin/

*Is this news big enough to trigger market uptrend in the coming weeks, months?

It's no big news, no matter how excited you are. The fact that someone adds BTC as a payment option does not mean that people will use it. There are thousands of online and physical branches around the world where you can spend BTC, but for most Bitcoin is just an investment they want to profit from.

I agree that Honda isn't really a luxury brand, but I'd say it is good news. Maybe not so big, but we need some of that positivity.
Even if this was some small Chinese brand that I'll never buy, I'd be happy because this goes in the news and people read about it. IMO it's a matter of time before Tesla accepts it again.

[LogitechMouse]

~
With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

No I'm not willing to buy using Bitcoin knowing that in a few months, we might see the start of the bull run. Of course I might be wrong, but still I will not use Bitcoin to buy cars or whatever expensive item it is. I guess those buyers who also has a huge amount of Bitcoin holdings might be the ones who will try, and buy using Bitcoin, but for an average holder like me, it's a no-no. As for this move by Honda having a domino effect towards other automobile companies, maybe but they'll observe it first. If this initiative of Honda comes out to be a good move by them, other companies might do the same as well, and vice-versa.

*Which other automobile company would you want to also accept btc for payment?

None.
I mean nobody expected that a company like Honda will accept it right? I don't know which companies do I want to accept Bitcoin as well. Like I said, if this will turn out to be a positive for Honda, there might be a chance that other competitors will do the same.

*Is this news big enough to trigger market uptrend in the coming weeks, months?

Not big enough, but this might be the first step towards the price of Bitcoin reaching $30,000. Currently, this news has no effect towards the price of Bitcoin. I guess the catalyst that investors are waiting is the acceptance of the Spot Bitcoin ETF filed by Blackrock, and not this kind of catalyst.

[vv181]

In which country it is happening?

In Japan I guess according to the article

No, it's not. The article you referred embed the tweet where the link within shows: "This service is currently only available in the USA, but more regions will be added soon." You better fact-check the source you refer to.

https://twitter.com/fcfpay/status/1706950991562551310
https://fcfpay.com/bill-payments/

Also, the news suggests Honda, the automobile manufacturer, is directly in partnership with the payment system, instead, I believe they did not.

Dealer or affiliates is way more approachable to integrate with cryptocurrency payment system, for example, https://www.leessummithonda.com/research/buy-honda-with-crypto.htm. Honda is not a B2C business, so there is no reason they favourably sell their car firsthand to its customers with a cryptocurrency payment option. This is rather exaggerated click-bait news, nothing much.

[moneystery]

...

*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

if i had bitcoin right now and was given the option to buy a car using my bitcoin, i wouldn't want to do it because my goal of buying bitcoin was for investment, not to buy a car. however, the steps taken by honda can be appreciated because they are a multinational company and have a good reputation in the global market. what they do can raise bitcoin's reputation in the global market.

*Which other automobile company would you want to also accept btc for payment?

with the increasing adoption of bitcoin, it is possible that other manufacturers will be interested in accepting bitcoin for their payments. maybe hyundai, audi, ferrari, etc., will start accepting bitcoin through their third parties.

*Is this news big enough to trigger market uptrend in the coming weeks, months?

i don't think so. the bitcoin market is too big to be triggered by news like this, but it could improve bitcoin's reputation in the global market.

[Fiatless]

With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

I have used a Honda car and the product is one of the best. Honda products are strong and durable. This is a piece of great news coming from one of the leading automakers in the world. Although they are using a centralized payment system it is still good for Bitcoin awareness and adoption. I will be willing to spend bitcoin on a Honda car based on the terms and conditions of the intermediary FCF Pay. If they require a KYC document that I am not comfortable giving out, that will be the end of the deal.

*Which other automobile company would you want to also accept btc for payment?

Toyota is a popular car brand in my country and it suits our poor infrastructure and high cost of fuel. So I want them to be the next to accept bitcoin.

*Is this news big enough to trigger market uptrend in the coming weeks, months?

Honda is a respected global brand. So I will not underestimate the possibility that this move can change investor attention. But it will affect the market sentiment slightly and for a very short term.

[pixie85]

I like Hondas. Civic type R is a beast.

This is going to hit the news channels for sure and maybe show people that more and more companies begin to trust bitcoin.

I don't expect many people to use this payment option, but let's also not underestimate it. There are millions of people holding bitcoin and we're about to enter a post-halving bull market. Some people will want to realize their profits by buying a car and accepting bitcoin is like extending a hand towards them and saying: come to us, you don't have to pay exchange fee and then bring us cash, we'll take your bitcoin.

[o48o]

Technically Honda partnered with FCF Pay. Honestly i don't even know if honda needed to do anything for this. They just accept money from a third party payment gateway.

I see this similar to the fact you can load binance credit card with bitcoins and pay to honda if you want. Technically it's just converting it to money and honda won't see any crypto in either scenario. But i guess it sounds catchy and act as a clickbait when you say honda accepts bitcoin, which it doesn't. Honda accepts money that it gets from a third party that you pay with bitcoin.

[sokani]

It would have been a good news if Honda automobile is the one directly accepting Bitcoin and Ethereum payment for the purchase of it cars, but that's not the case. One problem cryptocurrency tends to address is the elimination of an intermediary, so why contracting a third-party agent called F2P pay to receive the purchases of cars in Bitcoin and Ethereum? It doesn't make sense and it goes against everything cryptocurrency represents. I don't see anything worth celebrating and I doubt if this news can cause the price of Bitcoin to spike.

[Lucius]

I agree that Honda isn't really a luxury brand, but I'd say it is good news. Maybe not so big, but we need some of that positivity.
Even if this was some small Chinese brand that I'll never buy, I'd be happy because this goes in the news and people read about it. IMO it's a matter of time before Tesla accepts it again.

I'm not saying that the news isn't good, but far from anyone needing to get too excited about it, because we see from past similar events that people are simply not interested in using Bitcoin as a means of payment. Such news has had almost no impact on the market before, and I doubt that it will have any impact now, either in the short term or even less in the long term.

In a year or maybe less, the news will appear that Honda has decided to remove that option, either because someone will suggest that Bitcoin is "harmful to the environment" or simply because no one will use that payment method. It sounds pessimistic, but unfortunately it is the reality.

[icalical]

I just read the news, and eventhough it is a very good news, it seems the article lack many details, like in what countries the Honda Company will actually accept crypto. I mean Honda is a worldwide brand, and it's one of the biggest brand in my country, and probably in many other countries too, but same as my country there are many others countries where Crypto is not legal tender and accepting payment with crypto is still illegal. I just wish the article could put those details.