Cryptocurrency has become a popular medium of legal tender in recent years. Many businesses now accept diverse coins in exchange for their products. This has enabled fast and seamless transactions between manufacturers, retailers, and consumers. The automotive industry has also not been left out of this vital technological revolution.
AutoCoinCars is a world-leading automotive marketplace which provides a seamless off-ramp service for cryptocurrency holders to buy a car with crypto.
The company is currently pioneering the market and is linking two titanic industries – crypto and automotive. This solution is among the first to provide an outlet for customers to spend their digital assets on physical assets.
AutoCoinCars was founded by Mustansar Iqbal. He began his career in 2010 working in the automotive industry as a Project Manager for leading brands within the UK. He took on key specialist roles involving IT and Software Programming which has led to his extensive skill set, creating the solid foundation that has shaped his career and led him to where he is today with AutoCoinCars.
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In 2017, Mustansar Iqbal began researching cryptocurrency and looking deep into the blockchain industry. He noticed many issues for crypto users at that time; adoption was slow, fear around this unknown currency was high, and cashing out for holders wasn’t ideal. This was when he started working on the idea of building a system that would facilitate crypto users to buy real assets in exchange for their digital assets. Thus, the concept of his payment processing platform was born. He, however, continued on this journey and managed to develop his unique concept into a working PPS. To make it more viable, he proceeded to create a marketplace to allow holders to make a real-world purchase of a vehicle. As a result of this in 2018, the AutoCoinCars platform was created.
Four years later, AutoCoinCars is now the biggest cryptocurrency payment solution for vehicles in Europe, and possibly, worldwide. With over 50,000 cars for sale and coming up to 1000 partnered car dealerships, the company has come a long way since the platform was birthed.
In 2019, less than a year after the platform sprang into life, Luke joined the company as COO and became the Co-Founder of AutoCoinCars. He has a passion and understanding of the cryptocurrency market that is uncommon, and his eye for the car market alongside this brings a great deal of strength to AutoCoinCars. With a strong entrepreneurial and business mindset, Luke has aided in propelling AutoCoinCars to the scale it is today and is continuing to do so. Together, Luke and Mustansar Iqbal have doubled the size of the team working with the company in both Estonia and the UK. The company’s primary aim is toward innovation and pioneering of the market, creating change and breaking the boundaries of the cryptocurrency market to make a truly mind-blowing solution.
The journey of AutoCoin Cars has been an increasingly adventurous one. In 2018, AutoCoinCars was established as a company, and the following year, the AutoCoinCars platform was created. It became a place where car dealerships could advertise their stock for cryptocurrency, and crypto holders could buy a car with their currency. A little over a year later and its customers had over 1000 spent in Bitcoin alone on cars in 2020. Even throughout the Covid-19 pandemic, the company continued to grow and thrive. The year 2020 was the genesis of an uphill battle for most of the business world. The company had several tough decisions to make whilst trying to keep its day-to-day functions going from home. Whilst the pandemic proved fatal to many businesses, the company was shocked to witness a sharp and sudden growth in the uptake of cryptocurrency around the world.
With digital payments rapidly increasing while the world worked from home, this gave cryptocurrency an upper hand to really shine through as a plausible currency, and with the increase in crypto wallet holders came an increase in the search for ways to spend cryptocurrency. Although many crypto investors are happy to simply trade and stay within crypto, many prefer having the choice to spend their funds, especially to spend them on something physical. Whilst being able to look at money on a screen is nice, some customers believe that having something tangible that they could see and touch felt so much nicer. This led to a doubling in revenue within the space of a year and sparked the idea for the company to make business partnerships between the company and its partnered car dealerships 100% free. Dealerships were forced to move online and were not able to open their showrooms, but the company’s online marketplace allows them to advertise and sell their cars for crypto without spending a single penny.
The Post-pandemic era has forced the company to continue its progress in educating people on cryptocurrency and providing a bespoke, high-quality service for buying and selling vehicles for crypto in Europe and the UK. AutoCoinCars customers are always left satisfied by the company’s customer service as each sale is personally handled on a 1-to-1 basis to ensure a positive experience. The company urges its customers to spread the word about them and they are working tirelessly every day to build their stock and the portfolio of partnered car dealerships, so all that is needed is education and awareness on cryptocurrency and crypto car buying services.
AutoCoinCars as a business has been generating revenue above the company’s estimated breakeven for a few years now. The company is currently not seeking immediate investment. However, in 2023 the company plans to look into an investment round.
AutoCoinCars is the future of car sales and cryptocurrency is here to stay. The company is proud to offer a seamless, secure, fast off-ramp service to diverse customers from different parts of the world. Potential customers are urged to visit AutoCoinsCars today and buy a car with cryptocurrency, or share the company’s story to help spread the word of such a unique and revolutionary business!”