The rise of cryptocurrency and the pros and cons of using it to buy real estate
Those who enjoy learning about the newest and most talked-about technology and investments are likely familiar with Bitcoin. Though Bitcoin has a bit of a shadowy past
, it’s now become a more mainstream way of conducting transactions. Those who invest in Palo Alto real estate may be interested to know they can purchase real estate with Bitcoin. Here’s what you need to know about Bitcoin and the pros and cons of using it to buy homes for sale in Palo Alto.
The Rise of Bitcoin
Bitcoin is an Internet-based currency that was created in 2009 that allows two parties to conduct transactions with no bank or other middlemen involved. You can use Bitcoin to book hotels, buy merchandise, and make other types of purchases, though much of the press surrounding this cryptocurrency revolves around how to get rich trading it.
Due to the anonymity involved in Bitcoin transactions, the currency has gotten a bad rap in the past. However, its reputation has improved in the past few years as users have realized it’s an easy and inexpensive way to make international payments
since Bitcoin payments are not subject to the regulation of any country. Small businesses have also been using Bitcoin more regularly due to the lack of credit card fees. Of course, there are still plenty of people who buy Bitcoin as an investment, banking on the expectation that the value of the currency will continue to increase.
How to Use Bitcoin to Buy Real Estate