Buying a property with crypto?
I had this question asked to me today, “Can I buy with Crypto?” It was a question I honestly wasn’t ready to answer. I mean, I had just recently bought a house myself and earned my Real Estate License so crypto isn’t a foreign thing to me yet not once has anybody ever talked about it.
I took to asking a title company, which is what we use here in Florida, about whether someone can pay using crypto. My immediate thought was no they cant, because crypto doesn’t have a paper trail. They could have received that crypto as payment for an illegal activity. Who knows where it came from and even though the blockchain verifies it’s legitimacy, you still can’t be too sure.
I’m sure some day title companies, escrow agents, and real estate attorneys will be able to fill swing crypto soon enough. However, todays answer from the title company was no. Currently title companies will not accept transfer of funds from crypto. It must be converted to USD then seasoned for 2 days, then wired through the bank.