Honda Now Accepts Bitcoin and Ethereum As Payment Methods

[Ben Barubal]

      This is wonderful news because company cars are well known all around the world. But perhaps I'll continue to use our money if I can afford to buy a Honda car. Especially in current times, I wouldn't pay for Bitcoin, Ethereum, or any other cryptocurrency.

      You understand what that means; doing that these days is not practical. Just consider how much Bitcoin is currently worth before the market price spikes to $100,000. That's the amount of regret I'll undoubtedly have.

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[avp2306]

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.

Even if that news is quiet not creating any hype still its good since its can be consider as another greats step towards huge adoption. Honda is big company so most provably the cryptocurrency acceptance they have done will create some noise to those crypto mentioned and high chance that other competitors will look at it then add this as their accepted currency. We shouldn't always look at the price impact since what Honda do can affect good for bitcoin and Ethereum for long term.

We don't know what will happen to it yet and if bad times happen or no demand created towards their adoption then they might remove that but if there sales increase due to huge numbers of cryptocurrency users pays using crypto then for sure they pursue this adoption.

[Dave1]

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.

Even if that news is quiet not creating any hype still its good since its can be consider as another greats step towards huge adoption. Honda is big company so most provably the cryptocurrency acceptance they have done will create some noise to those crypto mentioned and high chance that other competitors will look at it then add this as their accepted currency. We shouldn't always look at the price impact since what Honda do can affect good for bitcoin and Ethereum for long term.

Yeah, it's going to be a slow phase though, but someone has to start somewhere, and it's good that Honda started this trend. And maybe when we are in a bull run, there could be more going to accept Bitcoin and any other crypto for that matter.

We don't know what will happen to it yet and if bad times happen or no demand created towards their adoption then they might remove that but if there sales increase due to huge numbers of cryptocurrency users pays using crypto then for sure they pursue this adoption.

We really don't know what the future will bring, so it's a wait and see moving forward. But we all know that Bitcoin is moving ahead, specially that we will have the halving next year. So it might create more hype and again, not just Honda, there could other sector as well who will adopt crypto as one of their payment methods.

[Davian144]

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 was also very surprised by this extraordinary big step from this Japanese manufacturer. Because Honda car products are already very well known and widespread in the world, this will probably make the Honda manufacturer even better and more famous after making their wish to accept payments in Bitcoin and Ethereum for their products.

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?

This depends on each person's personal use of the Bitcoin they already have. Because if someone's affection for Bitcoin is very big, I think it will always be difficult for that person to exchange Bitcoin for anything, including luxury cars. However, this decision that has been made by Honda will probably be followed by their competitors in the future in order to continue competing in a healthy way, because Honda has many competitors in terms of luxury car production.

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

I prefer Mitsubishi and Toyota, because these two manufacturers also often make very attractive luxury cars so it would be very interesting if these two car manufacturers wanted to follow in Honda's footsteps in terms of accepting Bitcoin and Ethereum as payment methods.

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

It could be that it will trigger a good wave in the market for Bitcoin, but for now I'm just surprised by this news and don't remember the price of Bitcoin which might have a good effect on increasing prices in the market. But if the news could be a good trigger for a price increase, I would also be quite happy to see it and most other people would probably also be very happy with this news if the price increase could actually occur in the near future because of this.

[Gozie51]

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

This is good news and at the right time to cause huge use of bitcoin. I think hodlers of bitcoin won't find it difficult to spend their coin on buying luxury cars rather than making huge payment of fiat to buy car. This is good and more giants in the automobile industry will follow what Honda has done. This is huge adoption news and more like this will cause the price of bitcoin to rise and its value also. I hope Honda continue this adoption move so that more financial institutions will be encouraged to come in.

[DVlog]

This will increase the bullish sentiment in the bitcoin market. September was already a good start for bitcoin. It manages to be on the positive side and this news shows that real adoption has begun. Honda is a giant automobile companies and their footsteps in the bitcoin market can make other tech giants more confident to embrace these economic changes.

[Inwestour]

We really don't know what the future will bring, so it's a wait and see moving forward. But we all know that Bitcoin is moving ahead, specially that we will have the halving next year. So it might create more hype and again, not just Honda, there could other sector as well who will adopt crypto as one of their payment methods.

It's a good sign that when such adoptions occur in a bear market, things should be even more positive in a bull market. Musk once started selling Teslas for Bitcoins, but later canceled this opportunity due to the environmental aspects of Bitcoin mining.

Now that other manufacturers follow Honda's example, Musk will have no choice but to return Bitcoin to possible payment methods. I used to think that competitors would follow Musk’s example, but now everything may turn out to be the opposite.

[Z_MBFM]

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.

This is very good news. Tesla owner Elon Musk has previously heard that Tesla will accept Bitcoin payments.  This is the second time it has been heard that Honda is accepting Bitcoin. Bitcoin has really gained a lot of popularity and these factors give a better indication of how Bitcoin is a potential currency of the future. automobile company accepting payments through Bitcoin is good news for Bitcoin users. But this is the happiest news for those where Bitcoin is used as a legal currency.

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?

Maybe Honda only for now but Tesla also bitcoin friendly

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

It is definitely a good news but it is not possible to say for sure how much this news will have a positive impact on the market. But to some extent, a positive impact can be seen in the market.

[benalexis12]

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.

Well, honestly, I like the Honda brand because the quality of their brand is good, although for now I don't have a 4-wheel Honda, but I have a Honda motorcycle. I've been using it for a long time, about 13 years. I haven't opened the engine yet, but all I do is take care of the oil and other parts. I have traveled to faraway places.

Is what Honda did universal in all countries? Does that also mean that even here in our country, it is also implemented in other ASEAN countries? Although the work they did is good, it doesn't seem to have much impact on the market, although they added Bitcoin and other cryptocurrencies to the payment options.

[Bitstar_coin]

Well, honestly, I like the Honda brand because the quality of their brand is good, although for now I don't have a 4-wheel Honda, but I have a Honda motorcycle. I've been using it for a long time, about 13 years. I haven't opened the engine yet, but all I do is take care of the oil and other parts. I have traveled to faraway places.

Is what Honda did universal in all countries? Does that also mean that even here in our country, it is also implemented in other ASEAN countries? Although the work they did is good, it doesn't seem to have much impact on the market, although they added Bitcoin and other cryptocurrencies to the payment options.

The most important point in this news for me is the awareness or putting btc in the spotlight. Of course not many btc holders will be willing to part with their treasure to by a car that won't give you future value unlike how btc would. But knowing that btc is at that stage where you can decide to buy a car with it is a big deal. Something nobody ever thought would be possible 10 years back. This is a huge achievement considering we're btc started and all the negativity surrounding it.

Although the article did not elaborate much about the countries in which this will be accepted since Honda is a world brand. But it will however spread to more countries keying into the idea. The btc community wants mainstream adoption and I believe this and many more like this will pave way for that so-needed adoption.

[Porfirii]

In which country it is happening? I am sure Honda cannot extend such crypto support in all countries they operate. Government regulation plays a big role here. So while it's a good news that Honda has started accepting cryptocurrency payment it's Limited to some certain countries.

But honestly it doesn't make sense to spend cryptocurrence is like Bitcoin to purchase a liability asset like a car.

In Japan I guess according to the article, since this is very new I believe it will only be within that location until maybe other countries government decided to expand their options and embrace crypto transactions legally.

Japan is traditionally a specially friendly jurisdiction with Bitcoin (by comparison with others, not in the way El Salvador is), so it is not really surprising taking into account that it is where Honda is incorporated. But there are many different jurisdictions where it could also work, so I hope that the pilot works and it is brought to different countries soon.

Not for me, because I agree that hodling is the intelligent decision here, but for the impact that it could have in Bitcoin's adoption.

[Joshapat]

It's good news that Honda is now accepting cryptocurrencies, of course they have done a long analysis so they decided to accept bitcoin, ethereum and so on, hopefully this can be a trigger for other global companies to accept bitcoin so that the hope of seeing prices skyrocket can happen soon.

[Rupok]

This is really a great news for Bitcoin users.  Honda Company's bold move to accept crypto as a payment option will hopefully take Bitcoin and Ethereum one step further. Although we are well aware of Honda Company's success. So hopefully the acceptance of Bitcoin is a good indicator that the currency has a good future in the short and long term. I  Personally prefer Honda brand because I have Honda band motorcycle and quality of this brand is good.

[vv181]

Although the article did not elaborate much about the countries in which this will be accepted since Honda is a world brand. But it will however spread to more countries keying into the idea. The btc community wants mainstream adoption and I believe this and many more like this will pave way for that so-needed adoption.

You did not closely inspect the news source and also the replies on your own thread.

The article cites in which country it is supported, and there is a reply in this thread that addresses it.

"This service is currently only available in the USA, but more regions will be added soon."
https://twitter.com/fcfpay/status/1706950991562551310
https://fcfpay.com/bill-payments/

You better update it on OP since most users also did not dig deeper about the linked sources and this thread replies, so they still asking about in which country the cryptocurrency payment option is available. Lastly, this kind of news is surely spread the awareness of the current state bitcoin adoption, but we must remind that this does not depict the whole picture of Honda directly favour and accept cryptocurrency payments.

[Lorence.xD]

If this also apply to Philippines, this is literally a good news. Cause there would be less hassle to convert your digital funds to fiat money as payment for buying motor vehicle or any transactions at Honda. I think that's the first step of Honda company for accepting the technology since they are aware that people much prefer to use digital currency. It would be like the first bank here accepting crypto in their side which literally gives them a high rating especially back way at pandemic. If Honda doesn't expected to have a lot of people using it, for sure people would be curious and would do research about Bitcoin why is it possible to use as payment.

[Unbunplease]

Yes, many campaigns will soon start accepting bitcoin as a means of payment. But this may not have the same impact on bitcoin as it did in 2020-2021 when Musk announced that Tesla accepts bitcoin. Now this is a highly anticipated event that should happen in the next six months to a year, given the growth rate of the crypto industry

[GigaBit]

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.

*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?

A news that Honda Company is accepting crypto has got the crypto community in the world very excited. The company has a wide reputation all over the world. But in this age of technology, everyone has a competition to make their products better, but people's demand for products that will provide some other benefits increases. Some will eagerly try to purchase products from the company receiving their cryptocurrency. The craze for accepting payments in Bitcoin and Ethereum has also created a huge buzz in the crypto space where a large number of people will be interested in learning about their products. This news will have a positive impact on the price of Bitcoin. This is a happy news for those who love BTC or love the crypto space. But even if there is a buying opportunity, I will not try to buy products with bitcoin because I prefer it for holding for the time being.

[Antotena]

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?

Nice strategy from Honda company I must say. They will get more customers seeing this options but I hope they know how to check for stolen BTC and Ether, I'm afraid that hack bitcoin from many years ago will be launder through this except they want to verify the source of this coins and since mixers don't accept some deposit, it will impossible to launder.

What I'm sceptical right now is why Honda decide to do this now. Maybe this is just a coy to get more BTC and ETH and then sell when the bull run comes by and then disappear again like the way Tesla reject btc acceptance some time ago.

[cabron]

The car industry is in turmoil afaik. Buying a car right now while the governments are trying to implement ESG policies will probably be problematic for you soon when they are trying to phase out cars with high carbon emissions to give way for the EVs.

So timely though that Honda of all time, they are accepting BTC while the price is low. With the BTC they will receive these days and they hold, their profit will be more than 3x if they wait for the bull run.

[Crypto Library]

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.

Source

Wow, that's great news, although there is no surety that what's going to do they next. Earlier we were seeing, a whale company was going to accept crypto currency as payment and after some time stopped accepting it as payment. Once accepting cryptocurrency as payment and once they shutting down this payment system. However, if they stay with their decision, I think it will have a good effect on the cryptocurrency market.

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?

First of all I don't have that amount of BTC for buying any car and second cause is cryptto currency is still illegal in my country.  But if I have those fund I mean Bitcoin,  then I will not buy any car in this current time.  Because halving is on the corner.

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

I don't have any words for this because nothing is going to happen for the illegalisation in my country. But I hope all giant companies will gradually come here and accept as payment.

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

I don't think so, this can trigger the market a little bit but I think for the Bullrun(if you mean that) we have to wait for Bitcoin halving.