It is now possible to rent real estate in Canada with Bitcoin

In the end of May, one of the leading online platforms for renting real estate in Canada added bitcoin (cryptocurrency) to the list of available currencies. Now everyone who wants to rent an apartment or house can pay in this way. In this case, the owner receives his payment in the national currency.

Benefits of the innovation

The main goal pursued by such a startup was to provide the consumer with more alternatives when choosing a payment method. The homeowners themselves were able to expand the circle of potential clients, attracting new segments of the population.

A large number of young people are interested in renting housing in the country (in particular, in Vancouver, where this system has been introduced) - often they are office workers and employees of various enterprises who want to rent housing near work. Many of them have been conducting monetary transactions using bitcoin for a long time, which has become quite popular today. Therefore, in order to attract such tenants to use the services of their platform, its founders introduced a new payment system.

Features of lease payment with cryptocurrency:

• you can pay for rental services in bitcoin directly through the platform online, or using the mobile app;
• when making a payment, a third party is not involved - the operation is carried out directly between the landlord and the person who wants to rent a house;
• a nominal fee is provided - 0.5% of the payment amount as a commission for data processing by the platform itself (this percentage is much lower than when paying by other methods).

When choosing bitcoin, payment is carried out according to the standard algorithm. The tenant receives a payment request every month. All that is left for him to do is to go to the website and deposit the required amount. Immediately after that the landlord can receive the required amount - the payment will be converted into Canadian dollars and credited to his account. Thanks to this, the new method is as convenient as possible for both parties.