Has anyone bought a house with Bitcoin?
Asked a year ago
My partner and I have been living in our downtown loft for two years now and are ready to buy our first house! I'm so excited! We both have a decent amount of Bitcoin that we want to use to buy the house. Has anyone ever bought a house with Bitcoin?
Tuesday, November 16, 2021
If you're considering buying a house with Bitcoin, you're not alone. In recent years, there's been an increase in people using cryptocurrency to purchase a property. While real estate transactions favor cash buyers, using Bitcoin can give you more bargaining power.
However, there are also some disadvantages to buying a house with Bitcoin.
One of the drawbacks of buying property using cryptocurrency is the lack of sellers. The number of people willing to accept Bitcoin as payment for their homes is still relatively small. As a result, it can be difficult to find a seller willing to accept Bitcoin.
Another downside of using Bitcoin to buy a house is the market's volatility. The value of Bitcoin can fluctuate rapidly, making it tricky to price your home correctly.
You may also find that some banks and lenders are unwilling to finance a property purchase if you're using Bitcoin as your deposit. Before you decide to buy a house with Bitcoin, carefully weigh the pros and cons.
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