The recognition of cryptocurrencies like Bitcoin as a method of payment continues to increase internationally. Bitcoin payment providers make selling made easy for any person to buy a wide variety of products or services, including real estate property, using the digital currency.
The real estate market is embracing crypto
The real estate market has recognized the potential of Bitcoin and other digital currencies for payments.
These days, many websites providing real estate permit buyers to perform indirect and direct transactions with digital currency. Sites allow buyers to hunt for properties that agree to take cryptocurrencies.
How to buy a house with bitcoin (Crypto-to-Crypto)
If you discover a seller willing to accept crypto directly for their property, once the sale is agreed and all documents are signed, you can transfer the crypto equivalent of the price and send it to the seller’s address.
However, when it comes to crypto-to-crypto property deals, you have to calculate with the volatility of crypto and the level of trust between the contract parties.
To make sure payment goes efficiently, it is good to use an escrow provider so that all title papers are in your possession before paying the money to the seller.
How to buy a house with bitcoin
Alternatively, you can buy a home with bitcoin by exchanging your crypto for fiat currency through a payment provider during the time of sale.
Services allow sellers and buyers to protect themselves against price fluctuations of bitcoin. They can do this by converting the digital money to US dollars when they make the payment.
Most real estate businesses that have houses for sale take advantage of a crypto payment service to accept cryptocurrencies then receive the money in fiat currency.
Advantages of buying a house with crypto
Acquiring a more stable asset
The value of crypto can change wildly. So once you buy a house with crypto, you’re trading a volatile property for a less volatile asset. This may be the right action for certain types of investors. Nonetheless, this might turn against you if crypto price falls again.
If a seller settles with crypto, they can provide you a discount. Offering discounts to people paying with crypto has become rather common among industries that accept crypto, especially those that truly have the cryptocurrency on their balance sheets.