The acceptance of digital currencies like bitcoin (BTC) as a payment method continues to grow globally. Bitcoin payment providers like BitPay and BTCPay Server are making it easier for anyone to purchase a wide range of items, including real estate properties, with digital currency.
Read on to learn how you can buy a house with bitcoin.
The real estate market has taken notice of the potential to use bitcoin and other digital currencies for payments.
For instance, in August 2021, the United Wholesale Mortgage announced a plan to start accepting bitcoin payments. While the plan was later shelved due to high costs and regulatory pressure, this signified interest in cryptocurrency as a payment method in the property market.
This was not the first time crypto and the real estate industry had converged. In June 2017, possibly the first-ever known bitcoin sale of a family property occurred in Texas. According to the broker, Kuper Sotheby’s International, the transaction was processed through BitPay, which converted the bitcoin into US dollars. BitPay has also handled other real estate transactions including the BTC 2,739 (USD
82m today and USD 1.6m back then) sale of a Lake Tahoe property in 2014.
Currently, numerous property listing sites allow buyers to transact directly and indirectly using digital currency. Sites like Open Listings allow buyers to search properties that accept cryptoassets like bitcoin and ethereum (ETH).
How to buy a house with bitcoin (crypto-to-crypto)
If you find a seller who is willing to accept BTC directly for their property, you can transfer the bitcoin equivalent of the home's price and send it to the seller’s address once the sale has been agreed on and all documents signed.
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