You can now buy a house or pay rent with Bitcoin

You can now buy a house or pay rent with Bitcoin

You can now buy a house or pay rent with Bitcoin

It’s the oldest problem in blockchain, crypto is great but you can’t buy stuff with it. Well that’s changing fast! Here’s how a few revolutionary companies are making it easier to spend your coin.

First up is the real estate investment and management business Jamestown. The multi-billion dollar company recently announced that they will accept crypto rent payments. Jamestown has partnered with the finance firm Bitpay to enable the new service.

For now it’s only available in the United States, however Jamestown hopes to expand to Europe soon. As far as we know this is one of the first examples of a major real estate firm choosing to accept crypto for rent, and we applaud the move!

If you’d rather buy than rent, you can use crypto for that too. Based out of Miami’s rapidly growing blockchain scene, Milo is a new startup that lets people take out a home loan with their crypto as collateral.

Use Milo to take out a crypto-backed loan - IMG Source

To originate a loan with Milo, a borrower needs to give the company an amount of crypto worth substantially more than the loan's value. Over-collateralization is necessary since the crypto markets are volatile and values can drop fast. Milo’s advantage is that investors can finance their home without selling their crypto and paying capital gains taxes.

Propy is another company offering a similar service: crypto-collateralized home loans. Just like Milo, Propy creates a legal framework for purchasing a home without having to sell crypto and pay taxes.

Once you’ve bought your house you don’t have to worry about your bills either. The Swedish startup Bitrefill, which lets people pay their bills with crypto, has just announced that they’re going live in the United States.

Cell phone, insurance, healthcare, even property taxes. You name it and Bitrefill probably supports it. Although there is a small fee for using the service it’s worth it for the dedicated crypto enthusiast. What’s better than paying your taxes with Dogecoin?

Finally, there’s also a lot of research and development going into tokenized real estate. Lofty AI, built on top of the Algorand blockchain, is a new platform for tokenizing property. The idea is to purchase real-world assets, create fractional ownership via tokens and then give people the chance to invest. Because tokens are divisible it’s easy for someone to invest $50 into an asset that they otherwise wouldn’t be able to afford.

The crypto ecosystem is growing fast. Every year there are new ways to invest, and to spend your crypto on all of life’s essentials.

This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.

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