24 years old at the moment. Have been wanting to get into passive investments for the last year and I found a condo in my area for around 60-70k. The goal is to rent it out for income
I store a good amount of my Bitcoin and other cryptos with BlockFi to earn interest….they also offer the ability to get a loan through them. Instead of selling my Bitcoin to buy the property…I put my crypto up as collateral and got a cash loan equivalent (almost) wired straight into my account. Used that to buy the property! No banks involved at all In the process. Best part is after I pay off the loan (which I easily can right now) the collateralized crypto returns back to my account!
So while I didn’t buy this property with Bitcoin itself. Bitcoin did allow me to retrieve the cash equivalent of my loan through a crypto financial firm. Times are changing and Bitcoin really is the future, I feel bad for those not keeping up with the evolution of money.
submitted by /u/mosesy
[link] [comments]
Source and link to Reddit topic: Bought a property this week thanks to Bitcoin
Author: Reddit.com
Leave a Reply