Do I need to go through a bitcoin exchange to pay my car insurance?
Asked 5 months ago
Hi, I'm wondering if anyone can help me. I want to pay my car insurance using my Bitcoin debit card, will it automatically be exchanged, or will the insurance have to specifically say that they accept Bitcoin payments? I'm assuming that if they don't, then I would have to go through a Bitcoin exchange?
Saturday, October 15, 2022
You don't have to go through an exchange to manage car payments. If you have a crypto debit card, the digital assets in your account will be automatically converted to fiat the moment of the transaction. So, the insurance company won't even know that you used a crypto card, as they'll just see money arrive in their bank account.
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