Bitcoin now accepted by Bond New York
NYC firm says digital currency eliminates or reduces processing fees
Jan 2, 2014
In what may be a first for a traditional real estate firm, Manhattan-based brokerage Bond New York has announced that it will now accept Bitcoin as payment for real estate transactions.
“Bitcoin is a convenient and inexpensive way for our customers to transfer money so we see it as a win-win situation which will impact the real estate industry,” said Noah Freedman, co-founder of Bond New York.
The brokerage said in a statement that it believes that it’s the first brokerage to accept Bitcoin, and named a number of benefits for making the move. Echoing other Bitcoin adopters, the brokerage cited reduced or non-existent processing fees as one draw of the currency. Bond New York said the currency also offered security undergirded by “military-grade cryptography,” “works anywhere, anytime,” “fast international payments” and identify protection.
In embracing the electronic cash, the brokerage joins a group in the real estate space that appears to be so far only comprised of tech firms.
In August, property management software provider Rentulations claimed to be the first company with immediate plans to accept Bitcoin. And last month rental listing site RentHop announced that it also would accept the electronic cash, even dangling a significant discount to those who pay in Bitcoin to list properties on its site based on the exchange rate at the time.
Reflecting an enthusiasm for the currency that seems to pervade the tech space, RentHop is apparently so pumped about Bitcoin that it’s even overlaid Bitcoin’s symbol onto its company logo.
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