As more and more people start using cryptocurrencies, you may be looking into the possibility yourself. Unless you’ve done some crypto research, you’re probably unaware of the many things you can buy using Bitcoin and other types of cryptocurrency. 

Some online retailers are beginning to accept crypto as a form of payment, and for those that don’t, there are always options like a BitPay card. But what about bigger purchases and investments such as a house? Well, the answer might surprise you.

Can you buy a house with Bitcoin? Read more about how it’s done below.

Yes, you can buy a house using Bitcoin

To give you a short answer, yes you can buy a house with Bitcoin. There are different ways to do this, but if you have Bitcoin, you could use it to buy a property, or use it as a part-payment depending on how much Bitcoin you have. Depending on the seller, you may be able to pay for a house directly with Bitcoin, which could ease some of the complexities of exchanging money that typically happens with a house purchase.

Crypto mortgages

If you don’t have enough to cover a property purchase in full, there is the option of using a crypto mortgage to pay for your property. The first crypto mortgages were launched in 2022, complete with low-interest rates that make them a tempting solution for buyers. A crypto mortgage can also make it easier for people to buy property if most of their assets are tied up in cryptocurrencies.

The easy way to buy a house with Bitcoin

The easiest way to buy a house with Bitcoin is to convert your Bitcoin into regular currency, and then use that as your down payment or to pay for the property in full. This may take some time to arrange, but it means you’ve got a simple solution in place for buying a property with Bitcoin.

Another option is to find a seller that will accept Bitcoin as part of a private sale. While this might be rare at this stage, it could be something that increases in popularity in the future.

What are the risks of buying a house with Bitcoin?

Many of the risks of buying a house with Bitcoin are the same as buying a house through other means. These include the sale falling through and changes in the market.

Crypto and Bitcoin-specific risks include some agencies unwilling to work with Bitcoin, including mortgage lenders, the volatility of the market and potential legal problems that can arise due to the anonymity of crypto transactions. You will need to be aware of all the risks and feel comfortable before proceeding with buying a house with Bitcoin.

You may not want to risk your Bitcoin investment to buy a house, which is why there are many other options to help you raise the capital you need. Using a hard money lending company could be a more suitable option to help you invest in property without using cryptocurrency. With many different possibilities, Bitcoin may not have to be your only option for your purchase.

There are a lot of conversations about buying property using Bitcoin and other cryptocurrencies, and it’s worth keeping an eye on the latest developments if it’s something you’re interested in. While yes, it is possible to buy a house using Bitcoin, you may wish to wait until it becomes more common before taking the risk yourself.