Bitcoin and real estate transactions! (Video)

By | February 3, 2014

Very few real estate transactions are currently funded through Bitcoin and a limited number of firms currently honor it as currency, but…

As Bitcoin continues to gain the confidence of the marketplace as a viable and reliable form of money,  it seems destined to move closer to the mainstream of business!

But first and potentially most important, however, is an explanation for many who will read this article and are still not sure about what Bitcoin actually is?

This short 3-minute video explains:

Price volatility of Bitcoin!

In terms of pricing Bitcoin has proven to be somewhat volatile in terms of valuation as it enters a global marketplace that appears to be hungry for a reliable and legitimate alternative currency not controlled by central banks as the chart below shows.

Bitcoin price chart

Finally, Bitcoin and Manhattan real estate!

…In what may be a first for a traditional real estate firm, Manhattan-based brokerage Bond New York has announced 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 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 nonexistent processing fees as one draw of the currency. Bond New York said the currency also offered security undergirded by “military-grade cryptography,” “identify protection” and “fast international payments,” plus it “works anywhere, anytime.” (Source)

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Don’t Pay Too Much For Your Title Insurance!

If you have any questions about title insurance in New York you can contact Hallmark Abstract Service for the answers!

Also remember that you have the right to choose your title insurance provider and that non-title insurance fees in a real estate purchase or refinance can vary substantially from firm to firm!

If you would like to have Hallmark Abstract Service provide you with a sample title bill for an upcoming transaction (we charge our cost for the non-title insurance premium fees) please give us a call at 516.741.4723 or send us an email at orders@hallmarkabstractllc.com. 


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4 thoughts on “Bitcoin and real estate transactions! (Video)

  1. Holt

    “The brokerage said in a statement that it believes 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 nonexistent processing fees as one draw of the currency. Bond New York said the currency also offered security undergirded by “military-grade cryptography,” “identify protection” and “fast international payments,” plus it “works anywhere, anytime.” (Source)”

    This is amazing! I’d love to pick their brain about it! Would you have any contact info for the firm’s management?

    Reply
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