Crypto as payment method?

Selling a house for cryptocurrency... Does not sound like something companies in real estate industry do every day. However, there are so many benefits from doing it. It is first of all, peer-to-peer network, which implies no need for banks and centralized system, no middle man involved. Therefore, large transactions can be easily made from one wallet to another. Then why isn’t cryptocurrency as method of payment accepted by different industries?

The reason is that if a firm accepts payments in crypto, it needs to manage risks associated with its volatility. Therefore, a lot of banks do not want to deal with cryptocurrencies and many people also think that it is not backed by anything, this is virtual money they say.

However, we want to convince you otherwise. Accepting Bitcoins, Ethereum and other cryptocurrencies for goods is a great deal especially if you have understanding of how to manage risks associated with it. Well-known and highly-valued companies like Virgin Galactic, Microsoft, Subway, Overstock, Expedia and other industries giants already accept crypto as a payment method. Does this tell us that it gets more and more recognition as currency? It looks like it. A huge spike of Bitcoin in 2017 encouraged many companies to get involved into crypto trading and having it in reserves. This spike gave a lot of hope for people as it can continue to repeatedly bring a lot of profit for its investors and sellers. So, it looks like Bitcoin gets its popularity only because of its volatility. But everyone keeps forgetting that it is a decentralized system which does not require the involvement of any bank and transactions can be easily made.

Let’s go back to the real estate industry. More and more sellers want to have Bitcoins and other coins in their reserves in case it spikes again. It can be quite a good deal for a customer to buy something major in crypto. For instance, if you wanted to buy a $2 million house for 666 Bitcoins in September of 2017, now you could buy a $5,4 million house for the same amount of Bitcoins. Isn’t that crazy? Therefore, if companies who accept crypto as payment method understand when to sell it and when to put it in reserves, they can also benefit from it.

Thinking about all this and creating the Blockchain Project at the same time, we thought of the idea of selling our houses (BOXONO) for crypto. Just imagine, now you can buy a house for cryptocurrency! The entire house, which is also smart, by the way. Sounds like an easy purchase not just because you will never be able to touch crypto but also because the house is inexpensive. Here probably lies the solution to the problem we see everywhere in California — lack of housing. We think that selling houses for digital currency such as Bitcoins will greatly help the situation and make the houses even more affordable.