You will soon be able to pay for your Tesla in Bitcoin: this is how it works


from Tobias Stahl am 09.02.2021

Buying a Tesla with Bitcoins: That should be possible soon.

Tesla/Bitcoin/EFAHRER.comBuying a Tesla with Bitcoins: That should be possible soon.

On Monday, the US electric car maker Tesla announced that the company had bought bitcoins worth 1.5 billion US dollars (around 1.24 billion euros). In the future, car buyers should also be able to pay with the cryptocurrency at Tesla. explains how it works.

In a report to the US Securities and Exchange Commission, Tesla said it had bought the $ 1.5 billion bitcoins for “more flexibility” and “to further diversify and maximize the returns on our cash.”

Tesla also stated that in the future it would accept Bitcoin in exchange for the automaker’s products, “subject to applicable laws and initially on a limited basis.” Tesla would be the first car maker to accept the cryptocurrency as a means of payment, reports the news platform CNBC.

Elon Musk had already hinted at Bitcoin on the short message platform Twitter in the past few weeks. Two weeks ago, the Tesla boss added the hashtag bitcoin to his Twitter biography. As a result, the Bitcoin price climbed up to 20 percent. Two days later, Musk said on the Clubhouse social media app, “At this point I think Bitcoin is a good thing. I’m a Bitcoin advocate.”

Bitcoin prices rose to record highs on Monday after Tesla’s announcement. © The  price of a Bitcoin initially climbed to around $ 44,200, and on Tuesday even up to $ 48,100, i.e. around 40,000 euros. Tesla shares also climbed two percent on Monday. In its report to the SEC, however, Tesla also warned its investors about the volatility of the Bitcoin price. This had already collapsed several times in the past, for example after important Bitcoin exchanges were hacked.

Buying a Tesla with Bitcoins – this is how it works


 The  fascination of crypto currency continues – Tesla’s entry into Bitcoin payments will do the rest to keep the trend alive. If you want to buy Tesla’s electric cars or Tesla merchandise using Bitcoin in the future, you should first look at how the currency works. But be careful: the learning curve is steep.

If you want to buy Bitcoins, you first have to register on one of the many Bitcoin trading platforms. Particular attention should be paid to its trustworthiness. Two recommended and user-friendly Bitcoin trading platforms are the Bison apps from the Stuttgart Stock Exchange and the Austrian Bitpanda. ©

 The  German Bitcoin exchange is also recommended – visitors can also follow the Bitcoin price development here.

Users have to log into the respective platform and connect their own current account to the profile. ©

 The  account must be authenticated in a separate step that is explained on the platforms. Bitcoin purchases are then debited from your own checking account, while Bitcoin sales are credited to your checking account. ©

 The  purchase and sale fee is usually one percent of the value and is shared equally between the buyer and seller.


 The  Bitcoin Wallet serves as a virtual wallet for your own Bitcoins. ©

 The  Bitcoin Wallet stores the private keys that are required to carry out transactions with Bitcoins or to prove their possession at all. Accordingly, Bitcoin wallets are of course also popular with hackers and senders of Trojans – just like a real wallet, they should be protected. ©

 The  safest option is to save your own bitcoins on an offline wallet that nobody can access via the Internet.


 The  Bitcoin Wallet Electrum is quite popular on Windows – it can be protected by 2-factor authentication. Bitcoin wallets are also available as a smartphone app: on Android, mycelium is worth a look, iOS users should take a look at the Edge app.

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