Forget the Bitcoin mansions, a reasonable house has gone on the Bitcoin market for a steal.
The Bitcoin housing market continues to grow exponentially with more and more outlandish real estate making it into the news. There are stories of mansions and luxury apartments going up for sale in Bitcoin, but now there is a small Grimsby house.
Grimsby on the North East coast of England is hardly a place of glitz and glamour, and not a place where one would expect much of a Bitcoin boom. However, there is now chance to own real estate in the English city for a mere 18 BTC.
Better than Sterling
Sean Atkinson, a 49-year-old freelance artist has decided to put his terraced house on the market in Bitcoin after seeing other more lavish properties go for sale in the digital currency.
He said: ‘Why not a terraced house in Grimsby?’ adding that he would be repainting the humble abode in the hopes of adding to its attraction with buyers.
Atkinson, who advertised his house on his website, thinks Bitcoin is a better bet than having his money tied up in Sterling (British Pounds).
A cash snag
Atkinson, clearly a believer in digital currencies, did admit he would have to charge a little extra in cash to appease the lawyers.
“For me it seems like a much better longer term investment. Unfortunately, I can’t do the entire sale in Bitcoin, due to the process I have to go through with my solicitor, which means there is also a cash payment required of £100.”
He added: “It’s been a family home and a shared house lived in by several artists. We are currently making it magnolia and white ready for new owners, although get in touch quick if you want any of the wall and ceiling art leaving.”
Decentralising the housing market
Because of the amount of bureaucracy, red tape, and tedium in selling a house, many real estate buyers and sellers are really seeing the advantages in Bitcoin.
Bitcoin allows owners to pay without transaction fees or needing to use banks – and with anonymity.