• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Bitcoin real estate
Nexo

You Can Now Leverage Your Bitcoin Holdings To Get A Mortgage Thanks To This FinTech

Best Owie by Best Owie
4 months ago
in Bitcoin
0

One thing about holding digital assets like bitcoin is the fact that there are still limited use cases. Since BTC is still not a legal way to pay for things in most jurisdictions, Despite having millions in bitcoin and other cryptocurrencies, investors can still find themselves extremely limited in what they can purchase without having to first convert their holdings to crypto.

Things like housing and cars are a huge part of individuals’ lives but without being able to purchase things without switching to fiat, which triggers a taxable event, users cannot spend their holdings on the things that matter. This is what a Miami-based FinTech called Milo is looking to address. The company brings crypto mortgages to users, where they can use their crypto holdings as collateral.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Get A Mortgage Using Bitcoin

In a press release posted on Tuesday, Milo announced that it would be allowing customers to take out mortgages against their crypto holdings. This makes it the first crypto mortgage offering a financial solution that crypto users are able to leverage their digital assets to purchase real estate. The financial technology company said that users will be able to pledge their bitcoin in exchange for a 30-year low-interest-rate crypto mortgage.

Related Reading | Bitcoin And Ethereum Total Over $500M In Negative Flows, Bears Ready For More Blood?

Milo’s solution will enable clients to diversify their investment portfolios into real estate without having to worry about converting their holdings to fiat currencies. With bitcoin, customers are not required to have any dollar for a downpayment. Instead, their bitcoin holdings will serve as collateral of sorts, enabling them to secure a mortgage much faster than they would in a traditional setting.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Josip Rupena, CEO and Founder of Milo, expressed that Milo is keeping up with the needs of customers, who are demanding more innovative ways to be able to use their crypt holdings.

“Clients expect us to come up with innovative solutions to extend credit to millions of great consumers,” said Rupena. “The existing ways for crypto consumers to access home credit has left them with unintended tax liabilities of selling for a down payment or worse the opportunity cost of seeing their crypto increase in value. There are countless stories of people buying property with bitcoin proceeds only to see it increase in value and be worth millions more.”

Why This Is Important

What Milo is doing with the crypto mortgages is not only novel, but it is important for a space like crypto which still struggles with mainstream acceptance. The company is yet to make public how much bitcoin will be required to secure a mortgage. However, Milo notes that it has already granted loans to parties who are involved in the early-access stage of the product offering.

Bitcoin price chart from TradingView.com

BTC rebounds above $42,000 | Source: BTCUSD on TradingView.com

The company expects the service to be available to more customers in the coming months and broader service going forward. There is currently a waiting list of customers looking to get a mortgage with the company using their bitcoin.

Related Reading | Retail Giant Walmart Ventures Into The Metaverse With Its Own Crypto And NFTs

“This is an exciting time for the crypto and mortgage industries. With our new crypto mortgage, we can expand our offerings to consumers that were previously denied by other banking firms just for having crypto. We have an opportunity to make sure that doesn’t happen anymore and their bitcoin wealth can now help them buy a property,” Rupena said.

Featured image from Ventures Africa, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Best Owie

Best Owie

Related Posts

Methane, oil rig

ESG Study: Methane-Fueled Bitcoin Mining Can Eliminate 5.32% Of Global Emissions

17 hours ago
Bitcoin

Bitcoin Supply In Profit Drops To 55%, Is The Bottom Here Yet?

1 day ago
Bitcoin

Bitcoin Superfan Jack Dorsey Bids Adios To Twitter Board  

2 days ago
Bukele, McCormack screenshot from the documentary

Let’s Dissect McCormack’s “Follow The Money #1” Documentary, Pt. 3- Bukele

2 days ago
Bitcoin Transaction Fees Remain Historically Low Despite Recent Spike

Bitcoin Transaction Fees Remain Historically Low Despite Recent Spike

2 days ago
IMF

IMF Boss Begs Investors Not To Shun Crypto Despite Market Crash

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.