Crytocurrencies such as bitcoin are starting to gain adoption in UK property sales.
Dual-advantage of generating publicity for the sale of real estate and attracting buyers who have bitcoin but are unable to convert it cheaply into fiat currency.
Wider use will remain hampered by bitcoin’s volatility.

LONDON — Selling a house in London is getting harder.

Data from Rightmove showed that four in 10 sellers are reducing prices, with London’s prime property market in the midst of a downturn.

But one £17 million mansion in Notting Hill has seen unprecedented interest since it went on sale in October.

“Last week we had 15 viewings,” said Lev Loginov, co-founder of property firm London Wall, which is selling the property. “It’s coming from Asia. I don’t think we’ve had anybody older than 30.”

The house is attracting interest from an unusually young demographic because it is being sold in bitcoin. Other houses in England have been offered for sale in the cryptocurrency before, but not on this scale, and not exclusively in bitcoin.

“It’s lots of young people who got involved in cryptocurrencies at an early stage,” Loginov said. “Most of them made money from mining cryptocurrencies, and basically they’re looking to acquire assets. “

Considering news …read more

Source:: Businessinsider – Finance

(Visited 6 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *