Pay your rent with Bitcoin or Dogecoin? Here it is possible

Suppose you can pay the rent of your house monthly with Bitcoin, Ethereum or Dogecoin; would that be useful?

While cryptocurrency is still very much dependent on hype, real fanatics are looking for the practical application of the coins. The American company Jamestown may have come up with something: pay your rent with Bitcoin, Ethereum and Dogecoin. How exactly does that work?

Pay rent with Bitcoin or Dogecoin

Real estate trader Jamestown has entered into a partnership with BitPay, FX Empire reports. BitPay is a platform designed to facilitate direct payments with cryptocurrency. That’s exactly what the real estate investor is looking for for a recent project: paying rent with cryptocurrency like Bitcoin.

In fact, it works very simply. A tenant pays cryptocurrency to BitPay, which converts the coins directly into fiat, or normal money. This normal money is transferred back to Jamestown and voilà, you can stay in your apartment for another month.

Blockchain technology and the digital products based on it, such as cryptocurrencies and NFTs, are key to the evolution of the real estate world. Enabling crypto payments is part of our commitment to innovation (…) to get the most out of physical real estate through technological and virtual integrations.

Jamestown

Of course, the question remains whether such a payment is smart for tenants. Due to inflation, normal money in the bank is worth less every year; so spend! But cryptocurrency is (if it is good) worth more and more. In any case, it seems a bit of a shame to spend potentially huge earnings on rent early.

The opposite can also be true. You buy Bitcoin for next to nothing; the rent could suddenly be relatively low. If you are a fanatic, paying the rent with Bitcoin can also be a positive development. It makes cryptos a bit more tangible, more practical.