A British car classifieds site has began accepting advertisements listed in bitcoin, becoming the first such web site to do so in the UK. In December, Auto4You began giving sellers the option of listing a car for sale with a bitcoin price tag rather of in pound sterling.
Khalid Akram, the site’s founder explained:
“One of the largest challenges [bitcoin] faces in the UK is liquidity and areas to devote it. We want to get the currency to flow inside the community. Every single time a new vendor begins accepting bitcoin it additional legitimises the currency in individuals’s minds.”
No one has listed a car for sale in bitcoin however, despite the fact that Akram mentioned he would personally be listing a utilized Honda for sale in the cryptocurrency. Akram described himself as a bitcoin “evangelist” and mentioned that introducing the feature on his web site was a way of assisting the bitcoin neighborhood.
Akram began Auto4You in 1999. The website has amongst 150 and 800 listings on it any 1 time and attracts 400 to 500 unique guests a day, he said.
The web site doesn’t charge users for marketing a motor for sale. Nevertheless, users have the option of paying £5 for a ‘premium’ advertisement that will enable their ad to seem on the site’s front web page.
Akram said he planned to make Auto4You the UK’s biggest auto classifieds site. The segment is currently dominated by Auto Trader which controls much more than 40% of the industry and attracts about 11 million unique visitors a month to its much more than 400,000 listings.
Auto Trader is a lucrative business that is owned by Trader Media Group, which is jointly owned by private equity firm Apax Partners and media conglomerate Guardian Media Group.
Trader Media Group was valued at about £2 billion by bankers for the duration of a scuppered attempt by Apax to get the Guardian’s share of the enterprise earlier this year.
“We have a huge amount of catching up to do. It’s certainly a huge job,” Akram mentioned.
Featured image: Garryknight / Flickr
View UK Car Classifieds Website Wants To Conquer Market With Bitcoin Pricing on CoinDesk.
UK Automobile Classifieds Site Desires To Conquer Market place With Bitcoin Pricing
No comments:
Post a Comment