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Paying rent with cryptocurrency

  • Thread starter Thread starter Stnicholaz
  • Start date Start date
I dont think for now, it can be possible for a tenant or a landlord to accept payment of his house rent with cryptocurrency. This is because cryptocurrency has not be popularly adopted and used as a means for exchange of goods and services.
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I don't think, the payment of house rent with cryptocurrency can actually be possible, most especially in the third world countries which the issue if cryptocurrency is not prevalent and not acceptable or known by good number of people.
 
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It depends on the owner of the house to chose the payment method he wants, if he has crypto wallet, he can decite to receive the payment through his wallet.
 
Even though bitcoins and other coins are being used for goods and serviced around the world, I don't think it is advisable to allow tenants pay rents using crypto coins. This is because crypto coins are volatile in nature. For instance, a tenant can just make payment to the landlord and before the landlord could sell or leave it in the wallet, then the value of the said coin has gone down. This becomes a problem. Though it can go up again.
 
Accepting crypto money as rent for your property is not a smart idea in my opinion. Because the price is volatile, you may end up losing money. And on occasion, instead of using traditional crypto currencies, you intend to use a stable currency.
 
This may be possible in the future but not now excepts in a country in which cryptocurrency is being considered as a legal tender ,most people won't even consider to accept cryptocurrency but will ask you to sell it to Fiat currency for them.
 
Sotherefore said:
This may be possible in the future but not now excepts in a country in which cryptocurrency is being considered as a legal tender ,most people won't even consider to accept cryptocurrency but will ask you to sell it to Fiat currency for them.
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I think this would have to be based on the individual's choice, let's say I own a property for sale, it's my choice to decide if I can also take crypto as a from of payment or not. There was a period where various persons where taking crypto as payment.
 
eLdavis said:
I do not think it's a good idea to accept rent for your property with crypto currency. The price is not stable so you might end up being in losses. And on some occasions profits excerpt you plan on using a stable coin instead of the normal crypto currencies.
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You have your point and really respect your opinion , the use of crypto currency has not been generally accepted and it could crash anytime because of its volatility, that's why its not adviseable to collect crypto currency instead of money for rentage.
 
Nope, if i were to be a realtor or house owner, i won't allow my tenants to pay in crypto currencies, maybe in the future i might allow them but for now payment should be in cash.
 
eLdavis said:
I think this would have to be based on the individual's choice, let's say I own a property for sale, it's my choice to decide if I can also take crypto as a from of payment or not. There was a period where various persons where taking crypto as payment.
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Well maybe that is true, but accepting cryptocurrency for payment especially in an official transaction like this is not really the best to me because in case there is anything wrong, how will even be able to explain that you pay the person in cryptocurrency in the court of law most especially now that cryptocurrency is illegal over here ?
 
Paying rent with cryptocurrency.we can pay rent with cryptocurrency if the landlord is trading on cryptocurrency. It very easy to buy with cryptocurrency even in an international community.
 
Sotherefore said:
Well maybe that is true, but accepting cryptocurrency for payment especially in an official transaction like this is not really the best to me because in case there is anything wrong, how will even be able to explain that you pay the person in cryptocurrency in the court of law most especially now that cryptocurrency is illegal over here ?
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Lol that's true though, or in cases where you have to refund, how do you refund back? That would just be you making losses on your end. It's better to just stick to flat currency.
 
eLdavis said:
Lol that's true though, or in cases where you have to refund, how do you refund back? That would just be you making losses on your end. It's better to just stick to flat currency.
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Hahhahahahha.. Omo thank God you understand. it's not really easy .sometimes you really need to consider the country you are dealing with before you make any official transaction so that in case there is any problem.. you can confidently defend yourself yourself.
 
I will also prefer to pay rent in cryptocurrency if there is a chance for it in My City. The reason is that I work with some website in which they are paying in cryptocurrency. This will make it pretty much easier for me to pay the landlord at the end of the year.
 
Sotherefore said:
Hahhahahahha.. Omo thank God you understand. it's not really easy .sometimes you really need to consider the country you are dealing with before you make any official transaction so that in case there is any problem.. you can confidently defend yourself yourself.
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Well said, especially now that there are restrictions on crypto within the country, major transactions like this it would be best you just do it the right way.
 
I will only accept payments in cryptocurrencies it they're stable coins. These other unstable coins are not good as you may run into losses when there's a bearish market.
 
The payment of rent with cryptocurrency, will be a good idea which involves not necessarily physical transactions but in a digital form but the problem is that not all people are familiar with the operation of cryptocurrency and the problem of it instability in value.
 
The countries that legalise the cryptocurrency as a legal tender would definitely accept it as a payment method for rents. This could be found in countries line El Salvador who adopted bitcoin.
 
As a landlord I don't think I will be able to take bitcoin as a means for payment of rent, because it will definitely reduce or increase, so I can't bear it if it reduces
 
The payment of rent with cryptocurrency will be a very good method of payment but the problem is that not all people are very much familiar with the use of cryptocurrency for house rent.
 
It will be a very good idea even if you will get a discount from the seller because the price of crypto is fluent but sometimes it needs to be counted as the manner of payment in your country.
 
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