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Can You Buy a Home With Bitcoin?

Homebuying. You skimp and save for years to afford your first house, counting down the dollars until you finally have enough for that first deposit. In this market, you aren’t alone in keeping a hawk’s eye on your property savings; after all, the average cost of a home in the United States stands at a $188,900. For many people, it’s the most expensive investment they have or will ever make. But what if the currency you watch isn’t a dollar or euro you could weigh in your hand, but bitcoin – which you could only track through a computer screen?

Over the past few years,  cryptocurrencies have rocketed into the popular view as a internationally-accepted, secure, and anonymized form of payment that stands free of any central government oversight. Blockchain technology was first invented after the financial crash of 2008, and spawned coins such as Bitcoin, Ethereum, and even the surprising lucrative joke currency, DogeCoin. These cryptocurrencies offer buyers a new way to purchase daily goods, gift cards, and now – homes.  According to a writer for Business Insider, popular real estate sites like Trulia are beginning to host listings that accept – if not demand – bitcoin as payment.

But how feasible is this new payment method? Is bitcoin, as some people claim, the “currency of the future?”

I’m not so sure.

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Can You Buy a Home With Bitcoin?
Published:

Can You Buy a Home With Bitcoin?

Jason Cohen Pittsburgh assess the potential risks and benefits of buying real estate with bitcoin.

Published: