Buying a Home with Bitcoin?
By Lucas on Jan 06, 2014
Before we jump into this, let’s make sure everyone understands what Bitcoin is.
Bitcoin is a peer-to-peer digital currency. There’s no cash, tokens, or anything physical involved. There is also no government body powering it, so the value is determined entirely by its users. The currency is created as if it were being mined (like gold); computers solve mathematical equations that gradually generate the bitcoins. Half of the total 21 million bitcoins that will be created have been generated. At the moment, 1 bitcoin equals about $750 USD.
According to Globe Newswire, a Manhattan-based brokerage called BOND New York is now accepting Bitcoin. Apparently, they’re the first traditional U.S. brokerage to accept the digital currency.
BOND highlights a few benefits of accepting Bitcoin: Easy mobile payments, security, works anywhere and anytime, fast international payments, zero or low fees, and identity protection.
"We are accepting Bitcoin as a service to our customers who prefer to use the digital currency as a matter of convenience. We are always looking for ways to serve our customers through technological advancement," expounds BOND agent, Brian Dusseau. "In addition we have agents who would like to be paid in bitcoins if their customer pays us in bitcoins."
Will this catch on? Do you think Torontonians will be purchasing new homes with bitcoins in the near future? Will developers and builders ever make the shift to accepting the digital currency?
