myDMV accepts cryptocurrency as payment

Coloradans who are renewing a driver license or vehicle registration online have a new payment option. The Colorado Division of Motor Vehicles announced on Thursday that myDMV is accepting cryptocurrency through PayPal for online payments.

Drivers can select PayPal cryptocurrency as a payment option for a driver license, ID card, vehicle registration or other DMV services online.

Those who choose to use cryptocurrency will be directed to PayPal and a sufficient amount of cryptocurrency to cover the transaction and fees is then converted to dollars and remitted to the DMV to complete the transaction. 

"At the DMV, we're always looking for ways to better serve Coloradans and leverage technology to offer our services," Senior Director Electra Bustle said in a payment. "This new online cryptocurrency payment option is yet another way the DMV is providing innovative and convenient service delivery to our customers."

There is a service fee of $1 plus 1.83% of the DMV total for paying in cryptocurrency. Paypal fees may apply as well.

PayPal is the only cryptocurrency provider being accepted at this time.