Cryptocurrency owners now have the opportunity to invest in real estate.
MyEListing, a startup located in Cedar Park near Austin, Texas, just launched a website similar to Zillow where people can list commercial and residential properties for sale with either cash or cryptocurrency.
The company claims that through its ASAP (Accelerated Sale and Purchase) program, transactions can be completed in one business day. Coinbase Commerce is set to convert buyers’ crypto into cash, and Millennial Title and Championship Title will take care of the title work.
At the moment, the platform only lists properties from Texas, but it is expected to expand to two or three other states in June.
One North Texas residential property is available for purchase, a three-quarter acre home site along Hughes Road in Grapevine, for $499,000 in cash, 17.5 Bitcoin or 256 Etherium. Additionally, two commercial properties in D-FW can be bought: an office building in Farmers Branch for $4.3 million, 150 Bitcoin or 2,208 Etherium; and a 40-acre commercial tract of land in Dallas at the intersection of Interstate 20 and Interstate 45 going for $3.9 million, 136 bitcoin or 1,997 Etherium.
“This initiative will drive innovation in the crypto and real estate industries,” said Caleb Richter, CEO of MyEListing.com, in a statement. “The process of acquiring property needs to be modernized. It’s already hard enough to buy property in your local neighborhood; let alone in another state or country.”