Bitcoin Now Accepted for Real Estate Transactions in NYC and Miami

What real estate news is shocking agents and brokers across the country? How many people have Bitcoin – and are looking to use the cryptocurrency in their next real estate transaction. Offers from Bitcoin buyers are popping up across the map, and agents and sellers are opening up to the concept of the new monetary medium.

Pushing the Boundaries of Sales

Real estate teams nationwide are rapidly taking notice of Bitcoin, tapping into the emerging market with online marketing targeted to Bitcoin investors. What do sellers think? It doesn't seem to matter where the money comes from, so long as closings commence and titles transfer. And the Bitcoin bonus? It transfers far faster than 401k withdrawals, converting to cash in minutes via global Bitcoin payment service providers. It's also easily held by trusted third-party escrow services.

How Prevalent Is Buying Real Estate with Bitcoin?

According to real estate news, Bitcoin is boosting sales in:

• Miami: A man unloaded his Coral Gables home for a jaw-dropping $6 million, approximately 1,600 bitcoin currency (BTC), drawing increased interest to Miami for worldwide Bitcoin buyers.
• New York City: The Big Apple is taking a bite out of Bitcoin, with Magnum Real Estate opening the firm's doors to Bitcoin deposits. The city is known for marketing homes and apartments available for Bitcoin, with commercial space expected to follow suit.
• Lake Tahoe: The sale of a 1.4-acre California property on a 42-site resort for $1.6-million (2,739 BTC) in 2013 has opened new avenues for residential and commercial Bitcoin sales.

Looking to the Future

Though you may have some explaining to do, real estate news points to studies showing a growing knowledge of cryptocurrency as well as the willingness to invest in and use Bitcoin across all age groups.

To view the original article, visit the Properties Online blog.