Can you use Cryptocurrency & Blockchain Technology for Real Estate Investing ?

[David Lowe]

Super curious to find out if you can use cryptocurrency & blockchain technology for real estate investing ? I would assume so but do different states have different rules on this? Any investors done this? Can you give me scenarios & step by step approach? 

[David Lowe]

Forgot to add this: if a certain crypto is used/trusted more, which is that? Bitcoin, Ethereum ? 

[James Mc Ree]

I don't know of a legal prohibition on it, but you would need to find a settlement company willing to accept it. It might help if both parties were willing to use the same medium.

You will run into issues with all of the fees. For example, there is a 2% or so transfer tax to be paid to the municipal and state governments. They won't take crypto. What is the 2% based on? I can only imagine it has to be a dollar representation of the crypto, but that value is continually changing. I can't imagine any settlement company wanting to get tangled up with that as it is just 1 example (commissions, other taxes, deed/mortgage recording, etc).