If you're thinking about buying a house with bitcoins, you may be wondering if it's possible. The answer is yes! You can use your cryptocurrency holdings to buy anything, including real estate. In fact, there are plenty of people who have done just that over the past few years.
The first bitcoin real estate purchase in Florida happened in 2017
A home in Florida was sold by a real estate agent to a bitcoin user for $275,000 worth of bitcoins. The seller was willing to take the bitcoins as payment for the property and the buyer was willing to pay in bitcoins. The seller agreed to allow this type of payment because it was anonymous and untraceable.
Since that very first purchase, many other bitcoin property purchases have been made around the world
Since that first purchase, many other bitcoin property purchases have been made around the world. Bitcoin can be used by anyone with access to an internet-enabled device and a cryptocurrency wallet.
You can spend any amount of bitcoins on anything you want, including real estate
Bitcoin can be used by anyone with access to an internet-enabled device and a cryptocurrency wallet.
You can buy a house with bitcoin, or any other cryptocurrency. But let's go back to the question of how you can pay for your dream home: is there anything stopping you from buying it with crypto?
No! As long as you have access to an internet-enabled device and a cryptocurrency wallet, your options are wide open when it comes to finding homes that accept payment in cryptocurrency. This means that even if the seller doesn't accept Bitcoin—or any other types of cryptocurrency — you can still make their house yours.
You can spend any amount of bitcoins on anything you want, including real estate
As you can see, anyone with access to an internet-enabled device and a cryptocurrency wallet can buy real estate with bitcoin. The same goes for any other type of property or service. If you want to buy a house, boat, car or even take out a loan for your cat's veterinary care—just use your bitcoins!
If you do put down the equivalent amount of bitcoins for your home, the chances are good that the price will have gone up by the time the sale is final. That means you'll be shelling out more fiat money than if you'd simply bought bitcoins at the time of purchase (and then sold them) to make a deposit on your home.
However, it's possible to use a crypto broker to help you buy and sell bitcoin in order to get around this problem: You can use their services as an intermediary between yourself and whatever real estate agent or seller you're working with. The broker will use their own funds to buy back some of your bitcoin at today's price—which is likely higher than when they first sold it—and then they'll hold onto those coins until closing day comes around so that there's no risk involved in holding onto cryptocurrency during such a transaction (as opposed to keeping cash).
Your monthly mortgage payments will still be due in fiat money though (at least for now)
As the title of this article suggests, you can technically buy a house with bitcoin. But if you're thinking about moving into your dream home next month and paying for it in bitcoins, think again: your mortgage payments will still be due in fiat money.
For example, let's say you want to buy a $300k property using Bitcoin as your payment method of choice. You would have to convert 1BTC into USD in order to make a down payment on the home—and then continue converting BTC into USD every month until 30 years are up so that your lender can collect its monthly interest payments! It'd be like paying off two mortgages at once: one with cash and one with cryptocurrency...and both mortgages would be issued by different banks!
This might seem impractical or even impossible right now because most banks won't accept Bitcoin or other cryptocurrencies as collateral for loans (yet). But just wait another five years or so—we'll see what happens then!
Anyone who holds cryptocurrencies and wants to buy a house can do so
You can buy a house with crypto. You can buy a house with bitcoin. You can also buy a house with ether, or any other cryptocurrency that has value. This is because the buyer and seller of this property have agreed on the price and have added in all of the fees for buying and selling real estate into it so that everyone involved knows exactly how much money they're getting paid.
Conclusion
If you’re looking for a way to get into the housing market and want to use your cryptocurrency holdings as collateral, then you should definitely consider buying a house with bitcoin. You will be able to find many properties online that accept cryptocurrency payments.
