You can earn money from the eventual sale of that asset — just like you would make money from the sale of artwork. Using luxury vehicles as an investment may seem strange, but the makers of BitCar claim that these cars are a better investment than many people realize: You can leave your money invested in cryptobut enjoy the stability of investing in a digital token backed by real assets.
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How Does BitCar Work? BitCar aims to collect two groups of people: Iconic cars can sell for tens of millions of dollars. That sale was just the third highest price ever paid for a vehicle. By pooling the money of multiple investors together, BitCar can increase participation in the luxury car sales market.
BitCar will acquire and store exotics, then sell the cars after a 5 or 10 year term. After the 5 or 10 year term is over, the vehicles are sold, and any returns are passed to token holders.
During the term, token holders can also trade currencies in a peer-to-peer way. If you want to sell your luxury car investment, for example, then you can do that as easily as trading a digital token on any exchange.
Rare classics like the Porsche Spyder have more than doubled in value. When buying the right car, investors can enjoy considerable profits from their appreciation — similar to fine art. BitCar was established in Australia in Key members of the team include developers from Ledger Assets Pty Ltd, a blockchain commercialization company in Australia.
The company was founded by co-founders Dr. BitCar is based in Perth. In NovemberBitCar made headlines for announcing its initial coin offering. Bitfinex was launched in and has grown in a short span to be one of the largest exchanges going by the trading volume USD. The platform is currently in a beta testing phase and is looking to add new and advanced features going forward.
The people behind Bitfinex are very paranoid as they call themselves about the security issues. Once a day, a backup of the database of the exchange is taken which is encrypted and then archived. The backup is sent to different locations as a further measure of protection.
Coinbase is a San Francisco, California based company and its initial offering was primarily restricted to the U.