Cryptocurrencies can now be used to pay rent
2 min readTL;DR Breakdown
• Coworking WeWork accepts payments in cryptocurrencies since April.
• Kraut will accept payments in digital currencies at their properties.
Concerning architectural designs, ome of the largest building owners, KPG Funds, will now accept cryptocurrencies as a payment method. The rental company arranged with its tenants to pay for their buildings in Manhattan on a decentralized basis. In addition, KPG Funds will agree that users use Bitstamp, a crypto exchange platform, to convert their digital currencies to dollars.
This new payment system includes cryptocurrencies such as BTC, ETH, Litecoin, and very soon, Dogecoin.
KPG CEO Greg Kraut established these guidelines after feedback from users. Many people had asked Kraut if he accepted BTC or other cryptocurrencies for rent the payment.
After long research, Kraut created an account with the Bitstamp exchange platform with excellent reviews. The agreement also includes the Signature Bank website, which would correspond to a digital payments platform. In addition, Kraut announced that he would allow the BTC conversion to dollars 24 hours a day for the entire week.
Kraut’s proposal with Bitstamp to accept cryptocurrencies
KPG Funds co-founder Greg Kraut believes that using Bitstamp to exchange cryptocurrencies is elementary in the deal. The Manhattan-based building rental company wants to renew its payment method by moving to the digital market. Although these are new territories for Kraut, he wants to manage them well to ensure safety for his tenants.
The reason Kraut took Bitstamp as his crypto exchange is because of the low payment fees. Tenants can pass their tokens into dollars without paying a considerable fee to the exchange. In addition, the security offered by Bitstamp is high so that you can make transactions without problems.
Bitstamp CEO Julian Sawyer believes this new merger with KPG brings the digital market to real estate businesses. The exchange platform is seeing new clients use cryptocurrencies to offer payment solutions. This shows how functional the crypto market is in doing well in real estate or other branches.
KPG properties will accept crypto payments
The KPG Funds real estate company will accept cryptocurrencies on properties such as 2 Crosby Street, 211 East 43rd Street, and 446 Broadway. These properties are in Manhattan and are linked to substantial real estate businesses. In addition, KPG Funds intends to expand into other parts of the United States to increase the number of tenants.
In April, Coworking WeWork announced it would accept cryptocurrencies as a payment method. Rick Caruso, a famous billionaire developer, has also allowed his real estate to be paid for in BTC. Everything indicates that the crypto business is at the top, along with the most sought-after real estate in the United States.
Homeowners in New York have also looked at their options to join digital payments with crypto. It’s a smart option that every homeowner in North America should use to give customers payment options.
