Whether you’re buying a new family home, a vacation home, or a real estate investment, learn how to buy property with cryptocurrency.
The rise of cryptocurrency real estate
As consumers rally around blockchain-based payments for everyday purchases, real estate companies are taking notice and responding. Blockchain technology is challenging the status quo in the real estate industry. Early cryptocurrency adopters and traders are creating massive amounts of wealth and using it to purchase real estate, adding fuel to an already hot market. Smart contracts also have the power to enable faster and more agile transactions and asset transfers.
Why buy real estate using cryptocurrency?
There are several reasons why someone might choose to buy a home with Bitcoin, Ethereum, or other cryptocurrencies instead of paying with cash or a loan-backed offer.
- Investment diversification – If you are looking to diversify your investment portfolio, purchasing real estate with cryptocurrency can provide stability.
- Cash Out for Retirement – After building a career investing in cryptocurrency, you may be ready to retire. Buying a home with cryptocurrency may be simpler than selling an asset to support retirement.
- Discounted sales price for cryptocurrency payments – If the seller is particularly bullish on cryptocurrencies, they may offer a discount for purchasing real estate using cryptocurrencies.
- faster transactions – Blockchain technology and smart contracts can reduce traditional waiting times and middlemen in the real estate industry.
Buying real estate with cryptocurrency has many benefits, but it may not always be the best approach. Potential downsides include merchants refusing to accept cryptocurrency payments and daily fluctuations in cryptocurrency prices affecting purchasing power.
How to buy a house or real estate with cryptocurrency
If you want to buy real estate with Ethereum, Bitcoin, or other cryptocurrencies, you have several options.
Pay your mortgage with cryptocurrency
BitPay Bill Pay allows you to make mortgage payments in Bitcoin and other top cryptocurrencies, regardless of whether your loan provider accepts cryptocurrency payments. Pay from almost any wallet in the BitPay app or on the BitPay.com website.
Buy real estate with cryptocurrency directly from the seller
The process of purchasing real estate with cryptocurrency through a private seller varies from seller to seller. Some may be content with 100% cryptocurrency trading, while others may choose to keep their cryptocurrency and cash separate. For this type of transaction, this means you need to send Bitcoin from one wallet to another.
For merchants who are reluctant to accept cryptocurrency directly, you will need to convert your cryptocurrency to dollars to complete your purchase. BitPay can facilitate cryptocurrency real estate transactions on behalf of buyers and sellers. The selling party generates an email invoice. Buyers receive an invoice and pay either manually or by scanning a QR code from their preferred cryptocurrency wallet. BitPay then transfers the funds to the merchant via direct deposit.
Even if you complete a real estate purchase using cryptocurrency, some cash payments may be required to be made to government agencies or intermediaries.
Take advantage of BitPay’s real estate partners that accept cryptocurrency
In addition to individual sellers, several real estate groups offer buyers the ability to purchase real estate with cryptocurrency.
Pacasso
Have you ever dreamed of owning a Mediterranean beach house? How about your own ski lodge in the Rockies? With Pacaso, you can enjoy the benefits of second home ownership without the hassle. Even better, you can buy a new home using cryptocurrency.
Condos.com
Use cryptocurrency to buy a condo in major cities. Condos.com allows you to buy directly from builders without a middleman, giving you a variety of options for new and pre-construction properties. Popular cities where you can buy a condo with Bitcoin include Miami, New York, and San Francisco.
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Notable Crypto Real Estate Purchases
We may not know every single cryptocurrency real estate deal made in history, but we’ve collected some of the most newsworthy deals over the past few years. What do most of these home sales have in common? The merchants all benefited financially by accepting cryptocurrencies. Since this house was sold, Bitcoin has increased 5x to 10x.
- In 2014, a buyer purchased land in the Lake Tahoe area for about $1.6 million.
- In 2017, a London mansion in the Notting Hill district was put on the market, listed for £18 million, under strict rules that only Bitcoin was accepted.
- In 2018, BitPay facilitated the purchase of two condos worth $875,000 and $14.85 million in the 389 East 89th Street building in NYC.
- The most expensive home sold through cryptocurrency trading to date is a stunning penthouse in Miami worth $22.5 million.
- BitPay partner Magnum Real Estate now accepts Bitcoin at its CODA building in NYC. The property, located at 385 First Avenue, is listed for $29 million and will be the first income-generating real estate investment opportunity exchanged for Bitcoin in the United States.
Frequently Asked Questions About Buying Real Estate with Cryptocurrency
Can I buy real estate using cryptocurrency?
Yes, you can perform wallet-to-wallet transactions or utilize BitPay’s cryptocurrency-to-fiat service to purchase real estate using cryptocurrency.
What cryptocurrencies can I use to buy real estate?
The most widely used cryptocurrencies for real estate transactions are Bitcoin and Ethereum. Our real estate partners are free to choose which coin to use to purchase real estate. However, overall BitPay supports Bitcoin (BTC), Bitcoin via Lightning Network, Ethereum (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), Shiba Inu (SHIB), Litecoin (LTC), and Polygon. Payment can be facilitated through (MATIC). ), XRP ( EUROC). We’re also constantly evaluating other coins and tokens to include in this list, so check back often if you don’t see your current favorite cryptocurrency as an option.
What types of real estate can I buy with cryptocurrency?
Buy your primary residence, vacation home, investment property, or commercial property with cryptocurrency.
Want to receive cryptocurrency for your real estate business? We make it easy.
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