The Colorado Division of Motor Autos (DMV) has introduced that it now accepting Bitcoin and cryptocurrency as a fee possibility by means of PayPal for Coloradans to renew driver’s licenses, identification playing cards, and automobile registrations.
“On the DMV, we’re at all times on the lookout for methods to raised serve Coloradans and leverage know-how to supply our providers,” mentioned Senior Director Electra Bustle. “This new on-line cryptocurrency fee possibility is one more approach 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 fee possibility, 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}, masking the full quantity due together with relevant charges, earlier than being remitted to the DMV.
Nonetheless, it is essential to notice that there’s a service payment related to utilizing cryptocurrency, amounting to $1 plus 1.83% of the full DMV expenses. 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 considering studying extra about this improvement and use Bitcoin or cryptocurrency for DMV transactions, you possibly can go to the official Colorado DMV web site right here.
