September 22, 2021

Linkage Mag

Geared for the Automotive Life

A New Way to Pay at Mecum Auctions: Cryptocurrency

Got some Dogecoin burning a hole in your electronic pocket? Now you can trade it for a Fox-body Saleen Mustang or a ’67 Corvette at auction.

In the midst of Mecum’s massive Indy sale, which runs from May 14-22, the company announced that it will now accept cryptocurrency via BitPay — including Bitcoin (BTC), Wrapped Bitcoin (WBTC), Bitcoin Cash (BCH), Ethereum (ETC), Dogecoin (DOGE) and stable coins USD Coin (USDC), Dai (DAI), Gemini Dollar (GUSD), Paxos Standard (PAX) and Binance USD — at its auctions going forward.

This is a plus for on-site buyers, but it’s a revolution for online purchasing, as it completely digitizes the experience. The idea is to make the collector car auction process a lot more convenient for remote bidders with cryptocurrency in their portfolio.

“We recognize the growing acceptance of cryptocurrency for commerce and are confident that by accepting crypto for collector cars, it will widen our scope of influence and introduce the Mecum Experience to an entirely new audience,” said Mecum Auctions Chief Operating Officer Sam Murtaugh. “BitPay provides a powerful, streamlined process that makes crypto transactions simple for both our customers and our accounting team.”

“Mecum Auctions realizes the potential for crypto to revolutionize the collector car auction industry, making payments faster, more secure and less expensive on a global scale,” said Stephen Pair, CEO of BitPay. “Our goal at BitPay is to make accepting crypto a seamless process and to increase adoption as crypto is the future of payments, and we’re thrilled to have the opportunity to support Mecum in providing crypto payment solutions for car enthusiasts worldwide.”

Mecum’s Indy sale is live now — check out the cars on offer here.