Buying a home is one of the largest financial transactions most people make. And unless you have hundreds of thousands of dollars, you’ll likely need a mortgage before even picking out curtains and furniture. If you’ve ever wanted a way to pay off your mortgage with cryptocurrency, read our detailed primer on how easy it is to get started using BitPay Bill Pay.
How to pay your mortgage with cryptocurrency
If you want to pay for your mortgage with cryptocurrency, the process is quick and easy. It only takes a few minutes to get started. Please follow the steps below:
Step 1: Download the BitPay app and set up your wallet
Download our free app for Android and iOS devices. BitPay wallet is self-managed. This means that only you control your money. You can easily create a wallet to pay your mortgage or import wallets/keys created from other popular self-custodial wallet applications such as Metamask, Exodus Trust Wallet, and Coinbase Wallet. Alternatively, you can make your mortgage payment from your browser on the BitPay website. Log in to your BitPay account and navigate to the Bill Pay tab within your personal dashboard.
Step 2: Link your account
In the BitPay app, tap the ‘Payments’ tab and then tap ‘Bill Payment’. If you are a new BitPay user, you will be asked to provide basic KYC information. Your information will be used to link your mortgage account to your cryptocurrency wallet.
Step 3: Pay your mortgage with your favorite cryptocurrency
Once your mortgage account is linked, your provider, maturity date, balance and more details will appear in the app. Select your mortgage, tap ‘Pay Bills’ and enter the amount you want to pay. Then select your desired cryptocurrency and confirm payment. It’s that easy.
To get started, download the app or connect to the web.
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Which mortgage lenders accept payments in cryptocurrency?
BitPay Bill Pay allows you to make mortgage payments from almost any lender.
What cryptocurrencies can I use to repay my mortgage?
BitPay Bill Pay allows thousands of businesses and banks, including mortgage lenders, to accept Bitcoin (BTC), Bitcoin on the Lightning Network, Ethereum (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), Shiba Inu (SHIB), Litecoin (LTC), Polygon (MATIC), XRP (XRP), Dai (DAI), Wrapped Bitcoin (WBTC), Gemini USD (GUSD), USD Coin (USDC) ), PayPal USD ( PYUSD), Binance USD (BUSD), ApeCoin (APE) and Eurocoin (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.
Which wallet can I use to pay my mortgage?
You can make your monthly mortgage payment right from the BitPay app, or if you prefer to bring your own cryptocurrency wallet, you can make your payment right from the BitPay website.
Because the BitPay app is a self-custodial wallet, self-custodial wallets created through other wallet providers can be easily imported into the BitPay app using a 12-24 word seed phrase. You can pay your mortgage with cryptocurrency assets included in the wallet you import.
You can also repay your loan with cryptocurrency through the BitPay website, which is compatible with over 100 of the most trusted and popular cryptocurrency wallets. Simply sign up, connect with a lender, and you’ll receive a custom invoice that you can pay using the wallet of your choice.
What other bills can I pay using cryptocurrency?
BitPay Bill Pay is designed to simplify bill payments, regardless of how many or how many transactions you make per month. With Bill Pay, you can not only pay your loans with cryptocurrency, but you can also easily pay almost any bill with cryptocurrency, including student loans, car payments, credit cards, personal loans, and more. BillPay is available from over 5,000 service providers and lenders.
credit card bill
Connect your credit card account to the BitPay app and make monthly payments from your cryptocurrency wallet. You don’t even need a checking account. BitPay supports all major credit card providers, including Bank of America, Citibank, Chase Bank, Discover, and more. See our guide on how to pay your credit bills with cryptocurrency.
car payment
You can also use the BitPay app to make monthly car payments from a variety of auto finance companies, including Capital One Auto Finance, Toyota Financial Services, Wells Fargo Auto, Ford Credit, and more. If you have the funds, you can even buy a car right away with cryptocurrency. BitPay’s partners include some of the largest and most reputable car dealerships in the country, so you can trust that your transaction will be completed without any surprises. See our guide on how to pay for a car loan with cryptocurrency.
student loan
If you took out student loans and invested time teaching or made a purchase at a low price, and now want to take advantage of that return, you’re in luck. Repay your student loans from Navient, Nelnet, Sallie Mae, Discover Student Loans, FedLoan Service, and many other student loan providers. Learn more about paying student loans using cryptocurrency. Read our guide on how to repay your student loans with cryptocurrency.
personal loan
You can also repay personal loans using cryptocurrency using BitPay Bill Pay, which can be paid through popular lenders such as SoFi, Marcus by Goldman Sachs, Avant, Upstart, and LendingClub.
Want to buy a house right away with cryptocurrency?
Thanks to many forward-thinking real estate companies, you can pay for your home entirely in cryptocurrency. Learn more about the rise of cryptocurrencies in the real estate industry and how to buy a home with cryptocurrencies.
Other ways to use cryptocurrency
Now you can see that there are almost no restrictions on paying your mortgage or other bills with cryptocurrency using BitPay Bill Pay. But your options go beyond making recurring monthly payments. These days, how and where you can use cryptocurrency is limited only by your imagination. BitPay makes it easy to make purchases big and small.
Spend directly with BitPay merchants
Shop from hundreds of BitPay partner merchants that accept cryptocurrency payments. First, browse our merchant directory to find your preferred store or brand that accepts direct payments, then follow the instructions provided on each page. You’ll find major retailers, restaurants, entertainment and more, including AMC Theaters, Ralph Lauren, Jomashop, Newegg and more.
Spend using your BitPay card
The BitPay card allows you to spend your cryptocurrency anywhere via your phone or wallet. Accepted anywhere in the world where Mastercard is accepted, you can enjoy benefits like cashback and low or no-fee ATM withdrawals worldwide. Getting your own is quick and easy.
gift card
Don’t despair if your store or brand hasn’t yet joined the cryptocurrency payment bandwagon. BitPay allows you to use the cryptocurrency of your choice to purchase gift cards from a variety of brands, including Uber, Walmart, Hotels.com, and more.
Different ways to use the BitPay Wallet app
Buy cryptocurrency at low prices
In the past, when purchasing cryptocurrency, you had to shop around to get the best price. Those days are over. BitPay’s extensive partner network takes the guesswork out of rate shopping through its “Best Offers” feature, accessible through the BitPay website or the BitPay Wallet app. You can choose from a variety of offers without any hidden fees or excessive price increases. Simply choose the one that suits you best and you will be redirected to one of our trusted partner sites to complete the transaction.
Stored in own custody
BitPay wallets are self-managed, meaning no one but you has access to your private keys or the crypto assets they protect. Self-management is essential for cryptocurrency users who prioritize wallet security.
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Whether you want to pay with cryptocurrency directly at your favorite retailer, pay with cryptocurrency with a credit card or other bill, or use cryptocurrency with a gift card, BitPay Wallet can do it all. Even if you are not a BitPay Wallet user, you can purchase cryptocurrency through the BitPay website and send it to your self-custodial wallet.
exchange
If you want to help out with a blockchain project or become a member of the cryptocurrency community doing something interesting, you will likely need to secure some of the ecosystem’s native cryptocurrency tokens. For example, if you want to try out the passive income-generating opportunities offered by the decentralized finance (DeFi) ecosystem, you’ll need to hold Ethereum or another compatible cryptocurrency. Or maybe your interest lies in a more niche community powered by smaller or less well-known crypto tokens. In the old days, you had to exchange your fiat currency for a blue chip cryptocurrency like Bitcoin and then exchange it for a smaller coin. However, the BitPay app allows you to instantly exchange almost any cryptocurrency for another cryptocurrency through hundreds of exchange pairs.