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Buying a house with crypto could be the answer to a challenge facing millions of young home hunters today. It’s no secret that younger generations, such as millennials, are struggling to gather the cash to pay for a down payment on a first home. This significant milestone, so ingrained in modern culture, is becoming increasingly unattainable due to soaring housing prices, student debt, insurance costs, and stagnant wages across the U.S. and Europe in particular. Waiting on the other side of the transaction are baby boomers looking to sell their homes and cash in on decades of real estate appreciation, but sale prices seem to not be realistically gauged to meet the purchasing capacity of these millennial home hunters.
What these young buyers do have, however, is a tendency to hold a significant amount of cryptocurrency, an asset they see as having future growth potential. Estate agents, title, and escrow companies can tap into this eager market by allowing them to buy real estate with crypto and leverage their digital funds for real-world assets.
In this article, we explore some global trends for buying real estate with crypto and how ForumPay can help facilitate buying a house with crypto.
Can you buy real estate with crypto?
Yes! It is most certainly possible to buy real estate with crypto. It might not be an option offered by every real estate agent, title, or escrow company, but there is a growing number offering this in-demand payment method to home hunters. Miami, Florida (USA) is one example of a city that is fully embracing crypto payments for real estate and other major sectors. In 2021, a record-breaking real estate transaction took place when a luxury penthouse at Surfside’s Arte Residences in Miami sold for $22.5 million, making it the most expensive US residential real estate sale using only cryptocurrency.
Across the pond in Europe, Cyprus is also embracing crypto payments for real estate in highly sought-after locations such as Larnaca. Over the past two years, the Cypriot real estate market has been flourishing, leading to a particularly booming luxury real estate sector. Home hunters looking to buy a property with crypto in Cyprus can choose from among state-of-the-art sky residences within the Marina, three and 4-bedroom detached houses within walking distance of the city center, blue-flag beaches, and many more. ForumPay has established an exclusive partnership with a prominent property developer in Larnaca, allowing us to process crypto transactions for real estate on this stunning, historic island. Take a look at our recent article for more information.
Crypto-backed mortgages for buying a house with crypto
While many investors and home hunters hold enough digital assets to purchase a property, they are not keen on exchanging them for property. Another option that is growing in popularity is crypto-backed mortgages. They offer a practical solution for buyers who want to keep their crypto assets and leverage their value to secure a loan for a new home. These loans use cryptocurrency holdings as collateral instead of requiring a credit history or proof of income, allowing borrowers to keep their holdings and avoid capital gains taxes. With repayment options in crypto or traditional currencies, these mortgages also make real estate more accessible to foreign buyers and investors who expect their digital assets to appreciate—companies like Milo, USDC.Homes, Figure, and Ledn are now leading the way in this growing market to offer modern, forward-thinking home buyers a chance to purchase a property with crypto.
Estate agents, title, and escrow companies: Choose ForumPay!
As a leading crypto payment gateway, ForumPay helps simplify real estate transactions using our secure, seamless, and efficient crypto-to-dollar technology. Our partnerships with title and escrow companies across the U.S. allow both businesses and individuals to purchase real estate using cryptocurrency directly from their wallets. By eliminating the need to season funds, ForumPay accelerates the buying process and ensures a smooth transaction. We offer complete end-to-end transparency, allowing buyers and sellers to see exactly how much will be paid and received in crypto and FIAT, respectively. Once the payment is made using any supported cryptocurrency, ForumPay instantly converts it to dollars and settles the amount with the seller or escrow company.
Our secure system and protocols guarantee fund availability and authenticity through collaborations with Sub & Substance and Chainalysis, ensuring a rigorous KYC (Know Your Customer) process. Combined with the immutable nature of blockchain technology, this method provides secure, final transactions with zero risk of fraud. Sellers receive their funds in dollars directly into their bank accounts, much like traditional transactions, with a small fee covering blockchain processing costs—typically borne by the buyer. Our aim is to ultimately help buyers and sellers embrace the potential of crypto payments for real estate as a straightforward and efficient payment method, helping to activate the market and home hunters to secure the house of their dreams.
To find out more about buying a home or investing in property using cryptocurrency, book a meeting with one of our crypto payment experts. Alternatively, visit forumpay.com for more information.
