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Beepi Adds Bitcoin Option for Online Car Buyers

Mobile Commerce Insider Featured Article

July 09, 2014

Beepi Adds Bitcoin Option for Online Car Buyers

By Clayton Hamshar
Contributing Writer

Beepi, an online peer-to-peer car buying and selling service, has added a Bitcoin payment option for its sellers. This makes it the first in the market to accept this form of payment.

The company focuses on overhauling the used car marketplace, eliminating a lot of the problems that many have with the system. Going through a used car dealer usually results in a lower takeaway for the seller, and buyers pay a higher price for what are often a less-than-trustworthy experiences. Salespeople have a reputation for being manipulative and resorting to dishonest tactics; which one may assume it must be grounded in reality to some extent.

Without going through a dealer, selling a car is a quite arduous process of putting up signs, spreading the word by mouth, posting in paper and online classifieds and then playing the waiting game. Buyers must go through a similar but less excruciating search through multiple media for a vehicle they’re interested in, and both parties must run the risk of being conned by the other in some way.

Beepi offers to inspect the seller’s car anywhere in the country, and upon successful completion it is listed on the website. The seller is uninvolved in any of the sale process and can keep driving the car until a buyer is found, at which point Beepi picks up the car and delivers it to them. If there is no sale within 30 days, Beepi simply buys the car and adds it to its inventory.

As a company devoted to forward-thinking methods of easing the car-buying process, it makes sense that they would enthusiastically add Bitcoin support. Every barrier removed is an advancement in Beepi’s business plan, and its services place an unprecedented high importance on satisfaction for both the buyer and seller, bringing lower prices to the former and higher prices to the latter.

Beepi is one of the fastest growing startups in Silicon Valley, and pledging to strive for the cutting edge of technology is only going to help that trend. As more institutions open up to Bitcoin, those that adopted it earliest will have the most experience and resultant success with it.

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