Technology to Bitcoin Announcement: Tesla starts with crypto payments - but the purchase process keeps some pitfalls ready

05:25  01 april  2021
05:25  01 april  2021 Source:   finanzen.net

How to Buy Bitcoin on Coinbase, Binance and Other Cryptocurrency Exchanges

  How to Buy Bitcoin on Coinbase, Binance and Other Cryptocurrency Exchanges Users should be aware of any fees that may apply with Bitcoin purchases, depending on the cryptocurrency exchange platform accessed.Here we outline how to buy Bitcoin, the world's first cryptocurrency, which is among the most widely traded cryptocurrencies today.

In January, the E caraker Tesla announced to accept the payment via Bitcoin. CEO Elon Musk is now serious - and gives the starting shot via Twitter. For customers, the purchase with Kryptos is associated with high risks.

DANIEL ROLAND/AFP/Getty Images © Provided by finanzen.net Daniel Roland / AFP / Getty Images

• Elon Musk announces: Bitcoin payments now possible

• Tesla advises on special care for transactional statement

• Payment terms Disadvantageous Bitcoin customers

Tesla releases promise: Bitcoin Payments now possible

In January, the Electroautobauer Tesla announced not only soon the payment of his vehicles with Bitcoin , but also invested a billion amount in the most popular crypto currency - which is the price of the CyberDevise on one New record high rising. At the end of March, it was time for the first time: how Tesla-CEO announced on his Twitter profile, the company's electrical vehicles based in the California Palo Alto is now available using Bitcoin .

Cost of a single Bitcoin exceeds $50,000 for first time

  Cost of a single Bitcoin exceeds $50,000 for first time SILVER SPRING, Md. (AP) — The seemingly unstoppable rise of Bitcoin continued Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time. The price of Bitcoin has risen almost 200% in the last three months and its volatility was on display Tuesday. After rising above $50,600, it fell back to $48,674 at 2:15 p.m. ET. At that price, with about 18.6 million Bitcoins in circulation, Bitcoin has a market value of nearly $907 billion.Bitcoin is rallying as more companies signal the digital currency could eventually gain widespread acceptance as a means of payment.

You Can Now Buy A Tesla With Bitcoin

- Elon Musk (@elonmusk) March 24, 2021

"Tesla uses only internal and open source software and operates bitcoin nodes directly," the entrepreneur promises. "Bitcoin paid to Tesla are treated as a bitcoin and not converted into Fiat currency." After a current status, the new payment method is only available in the USA. Outside the country, however, this should be possible during the year, so Musk continues.

Appeal to Customers: Take special care with Payment Data

From a simplified payment, however, can not be mentioned how a report from Business Insider shows. The portal refers to the conditions and conditions for payment with the crypto currency. So buyers need to use a separate platform to enter the exact value of Bitcoin you want to use for your transaction. - bitcoin action with plus 500 - that's how it works. 76.4% of private investor accounts lose money when using this provider CFDS . You should carefully check if you can afford to take the high risk of losing your money. - Also the correct wallet address Teslas, which is composed of a combination of numbers and letters, must be entered manually. Although the company also offers a QR code that transfers the necessary information, however, this procedure is not supported by all digital wallets.

Bitcoin's market value tops $1 trillion

  Bitcoin's market value tops $1 trillion The trillion-dollar market value club has a new member: bitcoin. The total number of bitcoins trading are now collectively worth more than $1 trillion. © Ozan Kose/AFP/Getty Images This photograph taken on September 24, 2020 shows a physical imitation of a Bitcoin at a crypto currency "Bitcoin Change" shop, near Grand Bazaar, in Istanbul. (Photo by Ozan Kose/AFP/Getty Images) That's because the price of a bitcoin hit a number of new all-time highs Friday. One bitcoin currently costs around $55,000 -- and there are about 18.6 million bitcoins in circulation according to Coinbase.

The fact that customers need to be careful with Bitcoin payments directly seems to be aware of Tesla. Thus, in its contract details, the E car manufacturer points out in capital letters that payment details must necessarily be incorrect, as transactions can not be revoked. A refund or cancellation of a payment is not possible due to the decentralized nature of the crypto currency. A liability for faulty transactions also excludes the Group. "If you enter the Bitcoin address incorrectly, your Bitcoin can be lost or destroyed to irreetrievably," says Teslas's terms of payment conditions according to Business Insider.

High volatility can lead to losses in customers

also the sometimes strong price fluctuations of the digital asset compliance continues to comply with the payment transaction as the portal indicates. Thus, an amount to be paid is converted at the time of purchase in Bitcoin, but if buyers can be leaving too long to settle this, the order and must be released. Also, Tesla points out that customers are not authorized to receive a refund if they have unintentionally sent a too high amount. However, it is different if the amount paid was too low: then customers have to pay the difference.

In addition, Tesla reserve themselves to decide whether to be refunded with Bitcoin's billing calculations using crypto currency or be paid out in US dollars when customers make use of their right of return. With a view to the high volatility of the coins, this could mean that customers would have to accept significant losses in case of doubt. FINANCEN.net

Crypto investors to Elon Musk: Please stop tweeting! .
The prices of bitcoin, dogecoin and other digital currencies have plunged more than 40% in recent weeks. While Elon Musk isn't the only reason for the crypto carnage, he certainly isn't helping.The prices of bitcoin, dogecoin and other digital currencies have plunged more than 40% in recent weeks. While Elon Musk isn't the only reason for the crypto carnage, he certainly isn't helping.

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