Aside from crypto being an additional source to fund real estate purchases, it is in the seller or agency’s favor to process crypto transactions. Funds are automatically and instantly accumulated, converted and settled in the bank account of the seller or agency at the best available rate without middlemen.

Convenience: it is much easier. The alternative would be sending crypto to an exchange, selling it, and moving the funds into a bank account as a taxable event to only then start the buying process.

Universality: traditional currencies and banking can sometimes stand in the way of buying a property. Crypto eliminates third-party complications by being universal and available at the touch of a button anywhere in the world.

Simplicity: digital wallets and account addresses ensure safe transactions with public keys and private keys. Private keys can be used to sign and verify transactions on the blockchain. Due to this, transactions only involve the buyer and the seller or agency.

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The business or individual will need to open an account with ForumPay and complete our online KYC verification process, then the seller will be ready to accept crypto payments from the buyer.

The seller will invoice the buyer like they normally would in a fiat currency and ForumPay payment gateway will show the buyer exactly how much crypto they need to send for this transaction. The rate will then be locked in for both the buyer and seller. Seller will know exactly how much fiat currency they will receive and buyer will know in advance exactly how much crypto they need to use for the transaction.

Yes, ForumPay will perform checks ahead of time on the buyer, cryptocurrency and also the cryptocurrency wallet used for the purchase of the real estate to make sure that there are no issues at the time of the transaction.

With ForumPay and one of our partner title / escrow companies both businesses and individuals can purchase real estate by paying in crypto directly from the cryptocurrency wallet of their choice.

ForumPay can onboard new title / escrow companies to facilitate the transaction with the seller’s preferred title / escrow company.

• ForumPay currently supports the following cryptocurrencies: 

BTC – Bitcoin

BCH – Bitcoin Cash

ETH – Ethereum

LTC – Litecoin

DASH – Dash Coin

XRP – Ripple

TRX – Tron

HOM – House of Mandela Token

ProperT – Property Token

USDT – Tether ERC20 and TRC20

USDC – Circle

ForumPay owns and operates its own cryptocurrency exchange, so we can enable support for new cryptocurrencies based on demand.

We have the technical capability to offer both options, but usually the processing fee is covered by the buyer of real estate.

• ForumPay payment gateway technology enables the seller to invoice their client in fiat currency and the buyer can simply choose which of the supported cryptocurrencies they would like to use for a purchase. ForumPay then instantly converts crypto into fiat at the time and point of the transaction and settles the fiat funds to the seller or the title / escrow company.

Yes, ForumPay can perform all of the necessary checks on the transaction to facilitate crypto payments for a mortgage down payment.

Some buyers are purchasing real estate internationally, where this form of payment is more efficient, while others are simply using their accumulated wealth to invest or purchase real estate as paying directly in crypto is a lot more efficient and convenient than converting crypto into fiat manually for the purchase of real estate.

For the seller nothing changes and it can be compared with a card payment. In this case the buyer would use cryptocurrency directly from the wallet of their choice, but the seller still receives fiat currency in their bank account as if the buyer would have made the purchase in a traditional currency.

ForumPay can support both options – the seller can either purchase real estate entirely with cryptocurrency or make additional payments via traditional payment rails as well.

• ForumPay can facilitate cryptocurrency real estate transactions globally with the only exception being the OFAC sanctioned countries.