Cryptocurrency Users Can Now Pay their Rent with Bitcoin
With the recent rise of cryptocurrency popularity, a rental company has decided to implement Bitcoin payments into its online platform.
Living on Bitcoin
In the above video, we can see the journey of a man who is trying to live solely on Bitcoin for a week. As cryptocurrencies are steadily gaining popularity worldwide, many users have tried to find more use cases for Bitcoin.
Currently, cryptocurrencies are mainly used for trading and investing, however, experts believe that as the number of cryptocurrencies users rises, more and more businesses will start accepting digital currencies as payment forms. People can already make purchases from Amazon with their cryptocurrencies through the online platform Purse, while another popular alternative for purchasing home appliances with digital currencies is Overstock.com.
Pay Your Rent with Bitcoin
Recently we have heard about real estate that was sold for Bitcoin, but what about renting? A New York-based company called Managego, that offers an online platform for renting, has recently announced that it would soon implement Bitcoin payments. In an article at CNBC, the vice-president of business strategy at ManageGo, Chaim Lowenstein, stated:
We lead in innovation, so we saw bitcoin was something that’s going to happen and become a standing currency sometime in the future.
He also added:
Right now there are types of clients we have, their tenants fit the profile, and we wanted to offer it as the new amenity beyond a fancy gym or a new couch in the building.
Managego noted that very few tenants are currently interested in making their rent payments with the decentralized cryptocurrency, but they anticipate a greater demand for Bitcoin in the near future as more and more people start using the digital currency. According to the report, Managego is planning to integrate Bitcoin payments through a Coinbase gateway as soon as next year. The reports also stated that property management companies haven’t fully embraced online payments yet and still lack in technology innovation. With Bitcoin payments, the property management industry can greatly benefit from its technological and financial innovation that it can offer.
What are your thoughts on Managego’s decision to implement Bitcoin payments for its rental platform? Do you think that people will start paying their rent with Bitcoin? Let us know in the comments below!
Images courtesy of Pixabay