Saying that the move makes the car-selling process easier for people who want to sell their depreciating car and collect in appreciating currency, private party vehicle acquisition company Drivably now offers Bitcoin services.

Those services are available for private party sellers who prefer that payment method.

Drivably received an investment from Porsche Ventures late last year and said its new Bitcoin payment method allows funds to be deposited directly to a customer’s digital wallet when his or her car is sold.

The company, which uses AI and advanced analytics to connect dealers directly to consumers who are interested in selling their vehicles, says it has already completed several cryptocurrency transactions because of consumer demand.

Drivably forecasts a 22% increase in Bitcoin activity during the next year.

“If you’ve ever traded in or sold your car, you know how hard the process can be by relying on guidebooks to find out what it's worth,” Drivably founder and chief executive officer Tyler Hall said in a news release.

Hall also said, “With our service, you simply enter your vehicle’s information and dealers bid to buy it. We connect you directly with dealers who really want and need your particular vehicle, and are willing to pay more for it. And now, we’ll pay you in Bitcoin if you prefer. It's that simple.”

Drivably identifies private party sellers, engages with them and puts an offer on vehicles. The service funnels sellers directly and exclusively to a participating Drivably dealership.

The company also integrates analytics from all major industry data partners and combines it with historical transaction data.

Drivably said that helps businesses identify the cars they should buy, at what prices, and from which markets, which can streamline their operations and boost profits.

Demand for Drivably’s services has seen a substantial increase since the pandemic started. That demand comes from consumers who want a safe alternative to sell their vehicles, and from dealers needing to acquire private party inventory in the current market.

Lack of inventory is currently a major issue for dealers, Hall said.

“And this problem isn't going away anytime soon," Hall said. “Consumers love our platform because it’s hassle-free. Dealers love it because it connects them with private sellers who have the vehicles they want and need for their lots.”