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Start accepting crypto as payment for rent
Expand your reach and open up to the fastest growing consumer segment in the world
The rental struggle: challenges homeowners face
Transaction fees can be high-priced and can diminish returns
Intermediaries, like banks, can delay rent payments
Completing international transactions can be a lengthy process
Finding reliable tenants that pay ontime
Why you should start accepting crypto
The crypto market size is projected to grow from 1.6 billion to 2.2$ billionUSD by 2026
44.1
million
households are rented in the USA
Renters are
89.9%
more likely than homeowners to be behind on paying their rent, vs homeowners paying their mortgage
65%
of renters
in the USA are between the ages of 18 to 25
The rental struggle: challenges homeowners face
Transaction fees can be high-priced and can diminish returns
Intermediaries, like banks, can delay rent payments
Completing international transactions can be a lengthy process
Finding reliable tenants that pay ontime
Forumpay addresses these challenges by providing:
Speed and efficiency
payments are processed instantly and recieved at the end of the next business day
Rapid verification
of buyer’s identity and crypto funds prior to the transaction
Protection from volatility
through instant FIAT conversion
Access to the larget growing consumer segment
opening the door for crypto wealth
Start accepting crypto payments
Cryptocurrency payment through
Tenant makes the payment to the homeowner directly with his crypto wallet
Forumpay converts crypto into FIAT instantly at the moment of purchase
Funds accumulated in homeowner's account are settled into his back account at the end of the business day
Security & compliance above everything else
Verifies the Buyer’s crypto wallet and checks for any AML concerns with their crypto
Verifies the Buyer’s identity and checks for any KYC/AML concerns
Crypto spending report 2023
Whether to buy a home or a cup of coffee, crypto payment processors are surfacing across the globe to meet demand.
Looking into banks’ move to digitalize currency and understanding crypto-consumer requirements and experiences when shopping is essential to understanding crypto payments’ rise to popularity.
Security & compliance above everything else
Frequently asked questions
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.
Read more here.
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.