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The Colorado Division of Motor Automobiles (DMV) has announced that it now accepting Bitcoin and cryptocurrency as a fee possibility by PayPal for Coloradans to renew driver’s licenses, identification playing cards, and automobile registrations.
“On the DMV, we’re all the time on the lookout for methods to raised serve Coloradans and leverage expertise to supply our companies,” stated Senior Director Electra Bustle. “This new on-line cryptocurrency fee possibility is one more method the DMV is offering revolutionary and handy service supply to our clients.”
Here is the way it works: clients simply have to pick out the cryptocurrency fee 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 entire quantity due together with relevant charges, earlier than being remitted to the DMV.
Nonetheless, it is vital to notice that there’s a service price related to utilizing cryptocurrency, amounting to $1 plus 1.83% of the entire 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 inquisitive about studying extra about this improvement and how you can use Bitcoin or cryptocurrency for DMV transactions, you may go to the official Colorado DMV web site here.
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