Auto Dealership Accepts Litecoin for Tesla Purchase

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TUSTIN, CA -- (Marketwired) -- 04/04/14 -- Benz and Beamer auto dealership today announced it sold a Tesla Model SP85 to an anonymous customer for 5,447 litecoin, an equivalent of $90,000 at the time of purchase. The dealership processed the transaction in partnership with GoCoin, the first international payment platform to accept the alternative currency market with litecoin support.

"GoCoin makes it extremely easy for us to accommodate new customers looking to pay with bitcoin and other emerging digital currencies like litecoin," said the dealer, Naresh Shah. "Their platform secures the coin exchange for cash within minutes, creating a real win/win for my dealership and my customers."

With over 25 million coins in circulation and a total market cap of $615 million, litcoin has quickly gained ground as a popular crypto currency like bitcoin.

"When you consider transactions like this one approaching six figures, litecoin is proving there is room in the market for digital currencies beyond bitcoin," said Steve Beauregard, founder and CEO of GoCoin. "We're confident that we'll see dogecoin and other alt-currencies emerge to these levels as the markets mature."

About GoCoin GoCoin is an international digital currency payments platform enabling merchants to accept bitcoin, litecoin, dogecoin and other digital currencies with key benefits such as eliminating high fees, costly chargebacks and inherent credit card payment friction. Our service replaces the need for the likes of PayPal or Authorize.net, instead customers pay with Bitcoin, opening up the global market of shoppers and gamers to participate for the first time in eCommerce, Internet gaming, Internet entertainment and charitable giving. Founded in July 2013, GoCoin is an international group of companies with a presence in Asia Pacific, the Americas, the Caribbean and Europe. For more information, please visit http://www.gocoin.com.

Amanda Coolong amanda@bitropolis.co