Cryptocurrency is a form of payment that has previously been only used for trading and investing, though the industry is evolving in a way that may let it go further. Bitcoin is just one of the many forms that has limited use outside of investments, but the industry is steadily evolving. There may soon be a way to make cryptocurrency as easy to utilize as regular money.
Right now, there are a few different businesses, aside from online investors, that let consumers use their Bitcoin, Ethereum, and Litecoin as payment for their products. Overstock.com is one of the main places that allows consumers to cover the cost of various home appliances directly, while Amazon.com uses Purse, a third-party online platform, to translate the payment from cryptocurrency to USD. There is even been a company or two that has used Bitcoin to buy real estate, which begs an interesting question:
“Can cryptocurrency be used to help with rental payments as well?”
A new property management company, ManageGO, released a statement with CNBC that their program would soon let them accept rental payments through their system. They used their assumptions about the growing use of cryptocurrency help them to make their decision, since they pride themselves in innovation. Furthermore, their vice-president of business strategy, Chaim Lowenstein, states that the ability to use cryptocurrency is as much of an amenity as a gym or a new couch in the facility.
The only downside is that there are few renters with ManageGO that want to use cryptocurrency at the moment. However, since this type of exchange is something that is growing in the rest of the industry, it is only a matter of time before it becomes the easiest option for renters as well. Consumers should keep an eye out with their own realty companies to see how quickly this rising form of currency is able to make its way to mainstream bill payments.