‘Don’t do it’: Four things to know before buying real estate with bitcoin
Despite recent swings in cryptocurrencies, real estate listings asking for bitcoin instead of traditional currencies have popped up across North America in recent months.
Recently, a Toronto-area home was listed for 34.62 bitcoin, which at the time of publishing, worked out to about $490,000. But the property hasn’t been scooped up since being posted Feb. 23. There are also listings in other parts of the province and country – and reports of properties selling for bitcoin in the U.S. Bitcoin has been on a wild ride over the last few months amid regulatory uncertainty. After as high as US$19,511 per coin in December, the cryptocurrency was trading around US$10,000 in February.
So, what do you need to know before buying real estate with bitcoin? Some professionals offer tips here.
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Check here for more details.
Picture: Tim Gouw