Unlocking the Future: A Guide to Buying a House with Cryptocurrency – Mortgages, Payments, and Insurance

cryptonews.com:

Believe it or not, 2024 may be a popular year for homebuyers. The National Association of Realtors (NAR) recently predicted that home sales will begin to rise next year, with 4.71 million existing homes forecasted to be sold in 2024. According to NAR, this would represent a 13.5 percent increase in home sales compared to 2023.

Industry experts are also predicting that the price of Bitcoin will go up in the coming year. The increasing interest in real estate, coupled with a new bull run, may lead some to wonder whether or not they should purchase real estate using cryptocurrency.

Although buying a home with cryptocurrency may not yet be a common practice, some industry experts believe that this will be a trend in 2024 and beyond.

Natalie Karayaneva, founder and chief executive officer of Propy – a company that automates real estate transactions using blockchain technology – told Cryptonews that 11 percent of all homebuyers used cryptocurrency for down payments in 2021. Karayaneva mentioned that the 2021 bull run likely helped drive this interest. “Each bull run cycle will often result in a growing trend of people interested in buying real estate with cryptocurrency,” she remarked.

According to Karayaneva, Propy has processed thousands of transactions since the company’s inception in 2017. “Propy has surpassed $4 billion worth of volume on our blockchain network, handling millions of dollars in crypto payments,” she said. Karayaneva further believes that the first home sale conducted by Propy paved the way for other sales. She said:

“The first home sale conducted by Propy was wrapped as a non-fungible token (NFT) and bought within 5 minutes by a Gen Z, who paid ETH directly to a smart contract. Another sale was made using