Cryptocurrencies are said to be the currencies of the future.
So can you buy or sell property using a virtual, digital currency such as Bitcoin, Ethereum, Tether or XRP?
Yes, you can. In fact, itโs already been done.
The Sun newspaper reported on the first UK property transaction in crypto back in 2017.
๐๐ ๐ถ๐ ๐ฎ ๐ด๐ผ๐ผ๐ฑ ๐ถ๐ฑ๐ฒ๐ฎ?
A big issue with using crypto would be establishing a value. Remember that cryptocurrencies can be volatile too.
Other issues could include finding a buyer or seller who also wants to use crypto and anti-money laundering regulations.
In short, while itโs possible, it probably isnโt a great idea โ at least just yet.
If you are considering it, take expert financial and legal advice.
Selling your home? Contact us for a valuation – in pounds sterling.
๐๐ณ ๐๐ผ๐ ๐ธ๐ป๐ผ๐ ๐๐ผ๐บ๐ฒ๐ผ๐ป๐ฒ ๐๐ต๐ผ ๐๐ผ๐๐น๐ฑ ๐ณ๐ถ๐ป๐ฑ ๐๐ต๐ถ๐ ๐ฎ๐ฟ๐๐ถ๐ฐ๐น๐ฒ ๐ถ๐ป๐๐ฒ๐ฟ๐ฒ๐๐๐ถ๐ป๐ด, ๐ฝ๐น๐ฒ๐ฎ๐๐ฒ ๐ณ๐ฒ๐ฒ๐น ๐ณ๐ฟ๐ฒ๐ฒ ๐๐ผ ๐๐ต๐ฎ๐ฟ๐ฒ ๐ถ๐ ๐๐ถ๐๐ต ๐๐ต๐ฒ๐บ.