“The use of cryptocurrency as a payment option is turning into more commonly used for purchases as confidence surrounding cryptocurrency will get stronger,” said Lee Hames, chief working officer for Lloyds Auctioneers and Valuers, in a statement. “This opens up our platform to whole new viewers who in any other case may not have been enthusiastic about buying a property.”
Australians are actually capable of purchase a home using cryptocurrency, as Lloyds Auctions Australia has introduced it’s accepting Bitcoin for purchases of actual property in online auctions, according to a press release.
Whereas Covid lockdowns impacted how in-person real estate auctions might happen in Australia, Lloyds started searching for digital alternatives to allow potential consumers to proceed to participate in sales, together with online auctions and offering digital walkthroughs of properties. Operating till the tip of the month, the primary of the auctions began last week and Lloyds says there has already been a great deal of interest in the online format and for cryptocurrency as a payment method.
“The use of cryptocurrency as a payment option is turning into more commonly used for purchases as confidence surrounding cryptocurrency will get stronger,” said Lee Hames, chief working officer for Lloyds Auctioneers and Valuers, in a statement. “This opens up our platform to whole new viewers who in any other case may not have been enthusiastic about buying a property.”
Lloyds had begun accepting cryptocurrency as a fee for all goods throughout its marketplace earlier this year, which noticed the sale of a caravan worth AU$100,000 (US$76,000) paid in Bitcoin within hours of the launch of the new payment method. This was adopted only days after fellow auction house Sotheby’s introduced it might accept cryptocurrency within the upcoming auction of a 101.38 carat diamond, which finally offered for HK$95.1 million (US$12.3 million), setting the report for the most expensive physical object ever bought with crypto.
The highest price ever paid for real estate with cryptocurrency was in June, when an anonymous purchaser paid US$22.5 million of an undisclosed cryptocurrency for a property in Miami. The sale additionally broke the city’s highest price-per-square-foot record.
Source: Forkast
