MERRIMACK, N.H., Oct. 04, 2018 /PRNewswire-PRWeb/ -- The first car sold for Dash at AutoFair was a 2012 Ford Fusion in sterling grey, at a US dollar value of $7,560, amounting to a payment of 36.9855 Dash, paid in full up front. The transaction was processed by Anypay, a cryptocurrency point-of-sale app which is widely used in the state. According to Derrick J. Freeman of Anypay, the car's buyer who also set up the merchant to accept Dash, the payment process was simple and streamlined.
"The paying part was delightful," he said. "It was super easy. It was pretty amazing actually. Had I walked into the dealership with a stack of twenties, it would have been way more difficult. It just seemed right. Modern, efficient. It was also playful and fun whereas paper cash is way less fun. Tedious."
AutoFair has over 300 cars available on the Merrimack lot for purchase with Dash, and is running a joint promotion with Anypay in order to sell additional vehicles. The next four cars sold for Dash will receive 10% "Dash-back," which will be split evenly among the dealership and the customer, accounting for a 5% discount for the customer and a 5% bonus for the dealership. This amount is capped at a $1,000 total value per purchase, and Freeman believes it will help incentivize additional merchants to accept Dash, as well as hold on to it instead of immediately converting to cash in the bank.
"Most businesses that started accepting cryptocurrency were smaller, more marginal businesses, and we see that larger and larger businesses are accepting crypto," said Freeman. "What normally happens is a business will accept digital cash often knowing that they can convert it to bank money. Yet almost always they learn about the benefits and decide to keep the digital cash themselves."
Dash is the most popular cryptocurrency in New Hampshire, and is accepted at a large number and wide variety of merchants, with nearly 80 listed on Dash merchant listing site DiscoverDash, a significant amount for a small, mostly rural state with a population under 1.5 million. New Hampshire's cryptocurrency scene has been featured in several documentaries, as well as a CNN news segment. New Hampshire signed into law last year a bill explicitly exempting cryptocurrencies from certain financial regulations.
Dash is the leading e-commerce and payments-focused digital currency. With more than 1,000% year-over-year growth in both value and trading volume since 2015, Dash has been consistently ranked in the top digital currencies by market capitalization, and only one of the few offering safe, decentralized and low-cost financial solutions to real world problems. Dash offers a form of money that is portable, inexpensive, divisible and fast. It can be spent easily and instantly online at merchants across the globe, at much lower fees than credit and debit cards. With more than 70 members on the development team and a unique blockchain mining and treasury model, Dash is the only major self-funded, self-governed organization in the cryptocurrency industry. This allows for constant development and funding for the entire project so community members can upload and vote on proposals, and if they are approved, they are paid for directly from the blockchain. Dash plans to unveil its landmark product Dash Evolution, the industry's first user-friendly decentralized payments platform, in 2018.