Now that the whole world is paying attention to crypto currency, you might be surprised to learn that it is now being accepted as a form of payment in all types of marketplaces. Take for example, Real Estate. You can now find residential real estate across the U.S., Australia, Canada, and afar that contain list prices in Bitcoin.
As we are all aware, the price of a single Bitcoin has been extremely volatile. In the span of only 1 month it dropped in value from an all time high of $19,475 to $11,431. This represented an astonishing decrease in value of 41%. Not shaken by the fluctuation, confident homeowners across the globe are offering to accept Bitcoin in exchange for their real estate.
In fact, at the end of 2017, a Miami condo reportedly sold for 17.7 bitcoin and believe it or not, US dollars were not exchanged between the buyer and seller.
For those of you who have crypto currency and are looking to finance your next home, there is a listing in West Palm Beach, Florida, that is open to buyers who have either Bitcoin, Ethereum or Litecoin.
“Owner financing possible $149,900 USD, 13 Bitcoin, 375 Ethereum, 950 Litecoin (crypto price subject to change. Inquire crypto price at time of interest),” the listing says.
If West Palm Beach is too warm for you, there are countless listings on www.bitcoin-realestate.com
While it may be challenging to find a seller who is willing to accept crypto currency, we recently learned that a real estate agent in San Diego helped a buyer cash out two Bitcoin (valued at nearly $15,000) to pay the closing costs for a home they purchased.
Now before you go out looking for your next home and hope to trade your crypto currency for it, remember, regulations are far from making this a normal practice. Just finding an escrow service that will handle a crypto sale instead of traditional cash will be very difficult. In the meantime, most will find that it is much easier to simply exchange your crypto currency for US dollars and then use the cash to buy the property your interested in.