JAKARTA – Paying property rentals with Bitcoin is now no longer a dream, but a reality that is increasingly common in various cities in the world. With digital infrastructure that is increasingly growing, both tenants and property owners can now carry out rental transactions safely, quickly, and transparently through blockchain technology.
In recent years, the use of Bitcoin as a means of payment is not only limited to investment and trade, but has also penetrated the property sector. The main advantages offered include the efficiency of cross-border transactions, the elimination of currency conversion costs, to the speed of payment processes without the involvement of traditional banks.
Blockchain-based smart contracts also become game-changers in rental management, as they can automate agreements, ensure transparency, and reduce potential disputes between tenants and owners.
However, fluctuations in the price of Bitcoin and legal regulations in each country remain important considerations in the implementation of this payment system.
Here are the five major cities in the world that have opened wide doors for property rental payments using Bitcoin:
Miami, known as a crypto-friendly city, has even hosted the annual Bitcoin Conference. Former mayor Francis Suarez also received salaries in Bitcoin, reflecting government support for digital currencies.
In some areas such as DOWNtown, Brickell, and Wynwood, several luxury apartments have even received rental payments in Bitcoin, either directly or through negotiations between tenants and owners.
Lisbon is a haven for digital nomads and the European crypto community. After the enactment of a new rule in April 2022 that makes crypto-based property transactions easier, the city is increasingly open to renting using Bitcoin.
Platforms like RentRemote have teamed up with BitPay to facilitate rental payments with cryptocurrencies. Transactions generally remain converted to euros for legal compliance, but many property agents in the Chiado, Alfama, and startup districts are willing to accept payments in Bitcoin.
Berlin has a progressive property sector open to crypto-based transactions. Platforms like Flatio have allowed short-term rental payments of one to six months with Bitcoin, albeit through conversion services.
Regulations in Germany have indeed prohibited the purchase of property directly with crypto since 2023, but for rent, the use of third parties as intermediaries for cryptocurrency payments to euros remains possible.
Toronto is slowly becoming a crypto-friendly city, with a number of rental platforms starting to provide rental payment options with Bitcoin.
Although still classified as niche, tenants can use conversion services that allow payments in Bitcoin, while property owners accept in local currency. Even daily services such as dinner or fitness services in Toronto have now received Bitcoin.
Paris is increasingly active in crypto adoption for the property sector. Since 2014, property agents such as Lodgis have offered options for paying service fees using Bitcoin.
A number of real estate platforms in France have now partnered with notaries and PSAN-certified entities to ensure transactions remain in accordance with the law. While full leases in Bitcoin are still rare, there are already flexible options for tenants and owners who want to use this system.
Not only big cities in developed countries, a number of small cities have also pioneered the use of Bitcoin in the property sector.
El Zonte, El Salvador Dubbed ‘Bitcoin Beach’, the city is one of the first to implement a comprehensive Bitcoin-based payment ecosystem, including renting a studio or apartment near the beach.
Rosario, Argentina In early 2024, the city made history with the first lease contract nominated in Bitcoin. Transactions were facilitated by the Fiwind platform, although President Javier Milei’s plans for crypto deregulation failed to be passed by parliament.
For those who want to find rental properties with Bitcoin, use blockchain-based property platforms or local apps that support crypto transactions. Check closely:
Conversion values and payment schedules
The legality of the rental contract
reputation of property owners or agents
Use an environment service or smart contract to ensure transaction security
With the right approach, Bitcoin is not just an investment tool, but can be a practical, efficient, and secure global rental solution.
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