UK homes bought using bitcoin

A small property firm has sold two homes using digital currency, bitcoin.

Consisting of an estate agency and new homes development company, Hertfordshire based Go Holdings is making the most of the cryptocurrency’s surge, with an aim to speed up the home buying process.

Estate Agent Ed Casson, the Director of Go Move and Go Homes told Property Industry Eye that these bitcoin based property home sales could be a world first.

He also stated that for the first time, the Land Registry allowed the buyer to have the price of the sale recorded in bitcoin.

Situated in Colchester, the first home was purchased by an investor for £350,000, whilst the other, located in Hertfordshire was sold for £595,000.

Speaking to Eye, Casson drew attention to the rise of those wishing to convert the digital currency into property, as well as what could be on the horizon for the business.

“We have had lots of buyers in bitcoin approach us to spend their ‘currency’ as they still see property as the ultimate investment.

“We are due to roll out a cryptocurrency service in the agency next year as the demand to buy in and sell in bitcoin/ether etc has been so high.

“We trialled this on our own homes that we are currently building which made sense, to get it right. We are investing money next year into smart contracts on blockchain technology to speed the home buying and selling process up. Watch this space.”

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