America’s First Painting Job Paid For Using Ethereum
In December 2017 Precision Painting & Decorating became the first painting contractor in the country to accept payment for a residential painting project in cryptocurrency. With the current buzz surrounding cryptocurrencies, the story was picked up by the International Business Times. The project consisted of an interior repaint in the Chicago suburb of Frankfort, IL. Here’s what homeowner Dan Lundstedt, who paid using the cryptocurrency Ethereum, had to say about the experience:
“Well I have been lucky to be successful with Ethereum in terms of ROI, so I thought why not use it repaint my house? I know Aaron from a previous painting job, we got to talking about it, and here we are. The whole thing was simple because we executed in coinbase without drawing or converting bitcoins into dollars.”
Why did Precision start accepting cryptocurrencies?
Sensing that cryptocurrencies, especially Bitcoin and Ethereum, are more than just a fad, Precision decided to make cryptocurrency payments an option starting December 1st. According to owner Aaron Moore, who has been interested in cryptocurrencies for over 3 years, it was time to get the painting world on board with what he sees as a long term trend. He went on to admit there is some risk to accepting the volatile currencies that can drop by 10%, 20%, or more in a single day.
“Cryptocurrencies, especially Bitcoin, are becoming part of the regular vocabulary of everyday people, no different than Uber. With more and more people interested in them and starting to buy them, we figured, why not let a customer pay us in them?” Now we just need to hope they keep increasing in value, or someone could get a once in a lifetime deal on a painting project.
What cyrptocurrencies do we accept?
Via Coinbase and www.coinpayments.net, Precision Painting & Decorating accepts the three major cryptocurrencies; Bitcoin, Litecoin, and Ethereum. Cryptocurrencies can be used to pay for any of the following painting services: