Rental payments app ManageGo adds support for Bitcoin, Litecoin and Ethereum

The digital processor of rent payments ManageGo is integrating Bitcoin, Litecoin and Ethereum into its payment application, and will soon allow tenants to use these cryptocurrencies to pay their rent each month.

By using the Coinbase application programming interface (API), the application will convert any cryptocurrency sent as payment in US dollars (USD), which will then be sent to the owners who use the platform to manage their relationships with their tenants.

The Vice President of Business Strategy at ManageGo, Chaim Lowenstein, told Technical.ly that the company does not intend to invest in cryptocurrencies or maintain them, but will be converted immediately to fiduciary money. In this sense, Lowenstein was quoted as saying:

We saw that we could do this and eliminate the risk by converting it (...) It would be as if someone wanted to pay with marbles and we could convert the marbles overnight.

The company based in New York does not own or manage any property, but runs a payment and maintenance platform for owners and tenants. Lowenstein said the company believes that the integration of cryptocurrencies will help it gain prominence, realizing that there would be interest in additional payment options after conducting some surveys. Therefore, the executive said that it was a measure that allowed the company to advance to the next level in an enjoyable way.

While "friendly" rental programs with cryptocurrencies are rare, earlier this year, VisionApartments, based in Switzerland, announced that it would accept Bitcoin as a payment method. Unlike ManageGo, that company only accepts cryptocurrencies in its properties.

In any case, the fact is that the adoption of digital currencies continues to be evident in every sector of our society, not only from the private sector, but also from governments that have shown interest in including these assets as a way of to transcend the traditional banking system.