The Colorado Division of Motor Vehicles now accepts cryptocurrency as an additional form of payment for online DMV transactions at myDMV.Colorado.gov.
Cryptocurrency is an additional payment option for Coloradans who are ready to complete an online transaction at myDMV.Colorado.gov. This option allows for cryptocurrency payment through the PayPal Cryptocurrencies Hub, where Coloradans will be able to select their desired cryptocurrency to use for the payment.
The Process, Service Fees and Restrictions
A sufficient amount of cryptocurrency to cover the fees is converted to dollars and remitted to the DMV to complete the online transaction. Service fees include an additional $1 plus 1.83% of the payment amount. You must have the entire value of your invoice in a single cryptocurrency in your PayPal Cryptocurrencies Hub. Effective on the date initiated, U.S. dollars will transfer in 3 to 5 business days.
PayPal purchase fees or miner/gas fees may apply when transferring cryptocurrencies from an external wallet to your PayPal Cryptocurrencies Hub.
At this time, only PayPal Personal accounts can pay using cryptocurrency. PayPal Business accounts cannot pay using cryptocurrency. Transfers from external wallets to your PayPal wallet must be done via the PayPal mobile app.
Frequently Asked Questions
No; this service will allow you to pay for online services with cryptocurrency using PayPal.
Yes. This online service is provided by a third party working in partnership with the State of Colorado. The price includes a service fee of $1 plus 1.83% of the total for cryptocurrency payments. If you purchase cryptocurrency on PayPal, fees may apply.
Please visit PayPal’s Cryptocurrency FAQs for additional information.