Residents in Seminole County, FL are now going to be able to use Bitcoin to pay for IDs, property taxes, and titles.
If cash, check or credit card seems too old-fashioned, Seminole County Tax Collector Joel Greenberg said Monday his office will begin accepting bitcoin as payment for new IDs, license plates and property taxes starting next month.
The county is going to use BitPay to convert the Bitcoin to cash. Bitcpay offered a 15 minute guarantee of Bitcoin from the time of receipt.
This eliminates the volatility associated with Bitcoin.
For its service, BitPay will charge the county 1%.
This is another one of those big steps in making this more mainstream. Since the Tax Collector didn't go through the state, it remains to be seen whether the decision will stand up. Either way, it is being considered by some who hold office.
Under terms of the deal, taxpayers would pay BitPay in the currency through the tax collector’s website, then BitPay would compensate Greenberg’s office in cash. BitPay keeps a 1 percent fee.
What is the hook? Lower fees.
He couldn’t cite instances of customers asking to pay in the digital currency but said some have complained about higher fees associated with banks and credit cards.
It appears some people are grasping the benefits to cryptocurrency or, at a minimum, they are seeing the high fees banks charge. The fee BitPay charges for its service is most likely half of what the bank charges the country.
This is the first government agency to accept Bitcoin as payment for its services.
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Would like to see other counties follow suit. Hopefully crypto adoption spreads quickly, but regardless, this is a step in the right direction.
Ha that’s crazy I didn’t get the memo. This is my county.
I am next county over in Brevard.
That's funny mate, I posted about the same as well :P.
I think this can be of big help for crypto to be more used than it already is.
Sooner or later, they all have to accept it. It's just matter of time. The people who will be early accceptors, is going to be more benefited.
This is a win/win for all the parties involved and should make more sense to others wanting to open additional options for payments. The only party losing here are the banks that will lose deposits and the fees associated with payments.
Whaaat? That's crazy. And exciting, to see crypto enter the everyday scene like that. I used to live in Seminole County. Who knew it was ever going to be on the forefront of anything?
Stuck in Miami-Dade, shoot!
Every time I am down there I think the same thing but not for the reason you are thinking..... 😀
You mean traffic right? I know, it's bad, but hey, that means we got cars!
To me, this is blockchain submitting to thieving governments, not dissolving them. But at least it cuts out the toxic banks.
Its just a new types of post tht u pay the property tax in bitcoin i dnt is it really true or nt?
Thnxxx sir @taskmaster4450.😃
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I think this is awesome. The more common it becomes to use the better for all of us on Steemit.