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The Colorado Division of Motor Autos (DMV) has introduced that it now accepting Bitcoin and cryptocurrency as a cost possibility via PayPal for Coloradans to renew driver’s licenses, identification playing cards, and car registrations.
“On the DMV, we’re all the time in search of methods to higher serve Coloradans and leverage know-how to supply our companies,” stated Senior Director Electra Bustle. “This new on-line cryptocurrency cost possibility is one more means the DMV is offering modern and handy service supply to our prospects.”
This is the way it works: prospects simply have to pick the cryptocurrency cost possibility, 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}, overlaying the overall quantity due together with relevant charges, earlier than being remitted to the DMV.
Nonetheless, it is vital to notice that there’s a service charge related to utilizing cryptocurrency, amounting to $1 plus 1.83% of the overall DMV prices. Moreover, PayPal could apply its personal charges. As of now, PayPal is the only real cryptocurrency supplier accepted for on-line DMV funds.
For these all in favour of studying extra about this improvement and find out how to use Bitcoin or cryptocurrency for DMV transactions, you possibly can go to the official Colorado DMV web site right here.
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