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07 September, 2017

Bitcoin now accepted as down payment for houses in the UK

The company offering the service is also exploring how to accept rent payments in Bitcoin, a popular cryptocurrency.

A UK co-living company has announced that it will begin accepting down payments made in Bitcoin, according to CoinTelegraph, making it that much easier for traders hooked on effortless, outstanding returns to speculate in another bubble-prone market: UK housing.

Co-living pioneer The Collective announced the decision on Tuesday, saying it’s the first developer that will accept payments in cryptocurrency. The company added that it’s exploring how to accept rental payments in bitcoin, which it hopes to implement later in the year. It said that its decision to accept bitcoin was related to demand from international clients.

The company has pledged to perform a “spot conversion” of users’ deposits – a fancy way of saying it intends to hedge its position – so that it bears any financial risk while holding the deposit.

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