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Updated almost 4 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
71
Votes |
66
Posts

Accepting Bitcoin for Rentals

Account Closed
  • Rental Property Investor
Posted

If there is a market crash and if the USD keeps declining...

Then will you accept Bitcoin as a form of payment for your rentals, STR or LTR? We currently accept Bitcoin and Litecoin with no worry at all but we're curious what others think about this?

Technology is only advancing and a digital currency makes total sense. Especially one that's global for near instant, low/no fee, cross boarder payments. Makes more sense than a gold brick or a piece of paper thats just backed by a government that's hard to trust with money in the first place.

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Richard Sherman
  • Rental Property Investor
  • Salem, OR
660
Votes |
696
Posts
Richard Sherman
  • Rental Property Investor
  • Salem, OR
Replied

@Account Closed  I understand the idea, but whatever minimal transaction fees there might be are probably less than the complexity you are adding in valuing an asset and reporting it for rent instead of USD payment.  You need to place a value on the crypto when you receive it and that's your taxable rent...not what it drops to 2 weeks later or goes up to etc.   My point is this does not scale, the number of people who would pay that way is tiny.  Fun in concept, irrelevant in practice.  Think bigger, too much energy and time going into what is probably a few hundred or thousand in transactions.

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