The Colorado Division of Motor Automobiles (DMV) has introduced that it now accepting Bitcoin and cryptocurrency as a cost choice via PayPal for Coloradans to renew driver’s licenses, identification playing cards, and automobile registrations.
“On the DMV, we’re at all times in search of methods to raised serve Coloradans and leverage know-how to supply our providers,” stated Senior Director Electra Bustle. “This new on-line cryptocurrency cost choice is one more method the DMV is offering revolutionary and handy service supply to our prospects.”
Here is the way it works: prospects simply have to pick the cryptocurrency cost choice, and they are going to be redirected to PayPal, the place they’ll select their most well-liked cryptocurrency to finish the transaction. The chosen cryptocurrency is then transformed into {dollars}, protecting the full quantity due together with relevant charges, earlier than being remitted to the DMV.
Nonetheless, it is necessary to notice that there’s a service charge related to utilizing cryptocurrency, amounting to $1 plus 1.83% of the full DMV prices. Moreover, PayPal might apply its personal charges. As of now, PayPal is the only cryptocurrency supplier accepted for on-line DMV funds.
For these desirous about studying extra about this improvement and use Bitcoin or cryptocurrency for DMV transactions, you may go to the official Colorado DMV web site right here.
