If you’re looking to purchase real estate in Canada using cryptocurrency, you may be wondering where to look, and how even to begin the process. There are many considerations to think about, like whether it’s a scam, whether or not you’re getting the best value for your coin, as well as tax implications. Realtors need to consider the risk by taking your cryptocurrency, and of course, need to dot the i(s) and cross the t(s) to ensure any sale is legal. Cryptocurrency for property can be a high-riskventure but has the potential to pay off big for all parties involved.
Based in Abbotsford, British Columbia, this real estate, firm founded in 2000, began accepting bitcoins for down payments on January 13, 2014. They buy your coin and convert it at the current market rate, meaning that once your deposit is made, despite coin fluctuation, its secure. Quantum properties offers investment properties, with a 2-year guaranteed rental income, and features both a construction and real estate firm – making it attractive for developers hoping to invest in British Columbia’s lower mainland.
Paul Chavady and Jerry Hallgrimson, realtors for Royal LePage,have included bitcoin into their business model, and now accepts bitcoin for their services. While their primaryservices are selling, this forward-thinking pair is also willing to accept bitcoin as a down payment on a purchase, at current market rates. With more than 40 featured listings on their site, Paul and Jerry’s services may be ideal for the would-be cryptocurrency investor looking for investment properties. Furthermore, they are accredited by the Canadian Real Estate Association.
Bitcoin Real Estate
Bitcoin Real Estate is a worldwide real estate listing website, which accepts Bitcoin, Litecoin, and Ethereum. They offer a platform for buyers and sellers to connect, to make cryptocurrency only exchanges. This is great for both the private buyer and seller or agents. Of course, as a listing site, they make no guarantee that the properties exist, or are as listed, so it’s important that potential investors do their homework, lest they buy the Sydney Opera House. However, it’s a great place to find owners willing to sell their properties for bitcoin.
The Canadian equivalent of craigslist, Kijiji is somewhere all cryptocurrency owners should keep an eye on if looking for property. In part, some private owners may list that they are willing to sell/trade for cryptocurrency, and it allows you to post ads offering cryptocurrency for properties. However, as it’s a listing site, its important to be careful of scams, and protect yourself.
With a bit of time, investigation, and negotiation, you can find investor properties in Canada buyable with cryptocurrency. While bitcoin is the most commonly accepted from developer outfits and realtors, through listing sites, you can find people willing to sell property for other cryptocurrencies like Ethereum or Litecoin. Professional realtors take most of the risk while dealing with cryptocurrency, at an added cost to the seller. Alternatively, while making a direct sale or purchase through a listing site, there is aconsiderable risk and potential for reward, to all parties involved.