News and Announcements
BitCar to Allow Users to Trade Their Way to Full Car Ownership
- Published March 20, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Key Takeaways:
- BitCar announce a gear change in their platform
- BitCar users will now have the ability to trade their way to full car ownership
- The BitCar Token Sale is currently on with 5 % BONUS, which will end on Tuesday, 20 March
We have heard it a thousand times… Can I drive the cars? Why should I own a car that I can’t drive? Why would somebody purchase a depreciating asset? Why would I want fractions of a car, I want my own one!
The answer is Exotics make up the best performing asset class over the last 10 years (see Knight Frank Luxury Index). According to this index, collectable classic cars saw 334% annualised returns over this 10-year period and outperformed property, gold, silver, REITS, S&P500, DJIA, private equity and hedge funds. For example, a McLaren F1 in 2006 was valued at $1M and in 2017 was sold at over $15M. The pain point of this asset class is that it is inaccessible to the masses, due to the high cost of purchase of an Exotic. The BitCar Platform lowers the barrier to entry allowing anyone to purchase a fraction of an Exotic, through asset tokenization on the blockchain.
Last week, we have announced a gear change in our platform, listening to the numerous users saying that they would love the ability to eventually wholly own an exotic car.
BitCar users will now have the ability to trade their way to full car ownership. Buyers in the BitCar marketplace, who over time want to own one of these exotics outright – can seek to acquire more tokens in it, by making offers to existing CAR token holders. Every five years, the ownership of the car will be examined. CAR token holders who own all or a majority of the tokens of a vehicle have the option to take possession of the vehicle.
The BitCar Token Sale is currently on with 5 % BONUS, which will end on Tuesday, 20 March. BTC, LTC, ETH and Credit Card (PAYEER) are accepted.
BitCar voted as BEST ONGOING ICO. Find the details here.
About BitCar
In a world first, the BitCar platform allows fractionalized ownership and decentralised peer-to-peer trading in Exotic Cars with a new BITCAR token. Imagine being a part-owner of a Ferrari F40, Maserati MC12 or Bugatti Veyron just to name a few. Owners can peg their crypto to these hard assets for protection during times of high crypto volatility.
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