Toronto man will only sell his condo for Bitcoin and here's why

2018-02-27 Natalie Nanowski

When most people hear the word Bitcoin, they think zero regulation and unpredictability, basically the Wild West of currency. But not businessman Derryn Shrosbree.

"I'm an ex-derivative trader from Wall Street, so I don't mind volatility that much," said Shrosbree. "I believe in cryptocurrency… I think it's the future."

To prove his point, Shrosbree listed his two-bedroom Mississauga, Ont., condo for sale for 35 Bitcoin, which at the time of writing this article would value the home at about $450,000.

Since Shrosbree is only accepting Bitcoin, his pool of buyers shrinks dramatically because getting into the cryptocurrency market is challenging and not many interested buyers will be willing. Still, he thinks it will be a good experiment, especially for those who purchased a lot of the tender and are now looking for a more stable asset.

"It's fairly difficult to get rid of blocks of Bitcoin quickly, so real estate is a natural fit for that. If people want to get rid of 30 or 40 coins at a time, it's kind of a good way to do it through property," said Shrosbree.

Listing could attract foreign buyers 

Real estate agent Brett Starke jumped on the opportunity to sell Shrosbree's condo. He says that although the Bitcoin requirement closes the door on a large demographic, it opens it to foreign buyers.

"For example, if I live in a country where I can't get my money out of the country but I can get it into Bitcoin, then it gives me the opportunity to enter the Toronto real estate market," said Starke.

If it sells, the condo will be the first in Canada to do so for cryptocurrency. There have been other properties in British Columbia and Alberta where cryptocurrencies would have been accepted as payment, but the Victoria property hasn't yet sold and the ones in Alberta were taken off the market.

There's also a website, Cryptonumus.io, where you can swap digital assets for real estate. It's run by Bermuda-based company Comp Capital Ltd. All of the listings are for developments in Ontario that would be purchased directly from the builder, but none have yet sold.

For the vendor, the gamble of selling a property using Bitcoin could be part of the allure. The currency is so unpredictable that if Bitcoin shoots up months after the sale closes, the vendor could make thousands. Or lose them if the currency drops.

Cryptocurrency expert says listing could be a gimmick

​Anthony Diiorio is the CEO of Decentral, a software development company focused on the blockchain technologies behind crypocurrencies such as Bitcoin.  He says although crytocurrencies are the future, listings like Shrosbree's aren't going to cause an influx of foreign buyers any time soon.

"I would say something like this is more of a marketing gimmick at this time," said Diiorio. "If someone is really interested in selling a house, what are the chances that they find the person that would really want their house and that person would have the Bitcoin in order to pay for it?"

In British Columbia, the province's real estate council is cautioning professionals against processing purchases in cryptocurrencies because it says the money can't be traced in the traditional way.

The Real Estate Council of Ontario (RECO) is looking into Bitcoin and other cryptocurrencies, and recognizes "the merits of new forms of currency in the age of evolving digital commerce," said RECO's registrar Joseph Richer.

Richer cautions people to protect themselves, but says "we do not regulate buyers and sellers, and impose no restrictions on the manner in which they choose to pay for a property."

According to Starke, people can pay for their home with "a brick of gold, or two chickens if they want." He also says that Shrosbree's sale will have to go through the same checks and balances as any other transfer of property does in Canada.


Views 85197    Reply 756    
up
705

EASTIDE REALTY INC., BROKERAGE
Phone: (905) 477-1818 Address: 7030 Woodbine Ave #301, Markham, ON L3R 6G2

Designated trademarks and brands are the property of their respective owners.
粤ICP备18001555号  Copyright © 2017, All copyrights reserved by Realjaja

Comments

Very good information. Lucky me I ran across your website by accident (stumbleupon). I've bookmarked it for later! Also visit my website - business presence - http://asher8g01nou1.blog5.net/23914329/a-handful-of-the-best-gifts-to-buy-adult-men
Very good information. Lucky me I ran across your website by accident (stumbleupon). I've bookmarked it for later! My blog post - <a href="http://asher8g01nou1.blog5.net/23914329/a-handful-of-the-best-gifts-to-buy-adult-men">business presence</a>
Hello There. I discovered your weblog the usage of msn. This is an extremely smartly written article. I'll be sure to bookmark it and come back to learn extra of your useful info. Thank you for the post. I will definitely return. my web site ... retail communication - http://gregory0c73zud1.pages10.com/Become-familiar-with-these-company-departments-and-descriptions-24605148
Hello There. I discovered your weblog the usage of msn. This is an extremely smartly written article. I'll be sure to bookmark it and come back to learn extra of your useful info. Thank you for the post. I will definitely return. Feel free to surf to my web blog; retail communication - http://gregory0c73zud1.pages10.com/Become-familiar-with-these-company-departments-and-descriptions-24605148
After I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and from now on whenever a comment is added I get four emails with the same comment. Perhaps there is a means you are able to remove me from that service? Many thanks! Also visit my website - estate developing - http://felixfxpe21098.getblogs.net/13402354/a-variety-of-successful-farming-tips-you-have-to-learn-about
After I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and from now on whenever a comment is added I get four emails with the same comment. Perhaps there is a means you are able to remove me from that service? Many thanks! Have a look at my webpage ... estate developing - http://felixfxpe21098.getblogs.net/13402354/a-variety-of-successful-farming-tips-you-have-to-learn-about
This site definitely has all the info I needed about this subject and didn't know who to ask. Review my homepage; smartcents - http://donovanpmnj05058.aioblogs.com/14118000/several-ways-that-you-can-help-charities
This site definitely has all the info I needed about this subject and didn't know who to ask. my blog post: smartcents - http://donovanpmnj05058.aioblogs.com/14118000/several-ways-that-you-can-help-charities
This post will help the internet users for setting up new website or even a blog from start to end. My web page :: talk between ford - http://michael2x68klt3.alltdesign.com/consider-this-short-political-skills-inventory-suitable-for-you-13181642
This post will help the internet users for setting up new website or even a blog from start to end. My weblog: talk between ford - http://michael2x68klt3.alltdesign.com/consider-this-short-political-skills-inventory-suitable-for-you-13181642
Very quickly this site will be famous amid all blogging and site-building visitors, due to it's good articles or reviews Here is my web-site: forex profits - http://hectorwmcr04703.affiliatblogger.com/22883380/the-means-in-which-to-promote-sustainability-within-society
Very quickly this site will be famous amid all blogging and site-building visitors, due to it's good articles or reviews Visit my website forex profits - http://hectorwmcr04703.affiliatblogger.com/22883380/the-means-in-which-to-promote-sustainability-within-society
Hello would you mind letting me know which webhost you're working with? I've loaded your blog in 3 different internet browsers and I must say this blog loads a lot quicker then most. Can you recommend a good hosting provider at a honest price? Kudos, I appreciate it! Take a look at my blog: stock market - http://dylan5y84qcb5.jiliblog.com/22375685/board-of-directors-titles-and-other-fascinating-facts
Hello would you mind letting me know which webhost you're working with? I've loaded your blog in 3 different internet browsers and I must say this blog loads a lot quicker then most. Can you recommend a good hosting provider at a honest price? Kudos, I appreciate it! My page - stock market - http://dylan5y84qcb5.jiliblog.com/22375685/board-of-directors-titles-and-other-fascinating-facts
Hello to every body, it's my first go to see of this weblog; this blog carries awesome and in fact fine stuff in favor of visitors. My blog post; new york hotels - http://keegansnjf72615.free-blogz.com/13975307/useful-traits-of-modern-architecture
Hello to every body, it's my first go to see of this weblog; this blog carries awesome and in fact fine stuff in favor of visitors. Also visit my weblog; new york hotels - http://keegansnjf72615.free-blogz.com/13975307/useful-traits-of-modern-architecture
I know this if off topic but I'm looking into starting my own blog and was curious what all is required to get setup? I'm assuming having a blog like yours would cost a pretty penny? I'm not very internet smart so I'm not 100% positive. Any recommendations or advice would be greatly appreciated. Appreciate it Feel free to visit my web-site right glenelg hotel - http://rylannkfa49372.amoblog.com/a-bunch-of-amazing-activities-in-london-to-contemplate-for-your-holiday-14613940
I know this if off topic but I'm looking into starting my own blog and was curious what all is required to get setup? I'm assuming having a blog like yours would cost a pretty penny? I'm not very internet smart so I'm not 100% positive. Any recommendations or advice would be greatly appreciated. Appreciate it my web site ... right glenelg hotel - http://rylannkfa49372.amoblog.com/a-bunch-of-amazing-activities-in-london-to-contemplate-for-your-holiday-14613940
You made some good points there. I checked on the web to learn more about the issue catch and release - http://martha6j81wsd6.widblog.com/14467210/some-ways-in-which-philanthropic-activities-can-develop-lives found most individuals will go along with your views on this site.
You made some good points there. I checked on the web to learn more about the issue catch and release - http://martha6j81wsd6.widblog.com/14467210/some-ways-in-which-philanthropic-activities-can-develop-lives found most individuals will go along with your views on this site.
Hello very nice website!! Guy .. Excellent .. Amazing .. I'll bookmark your site and take the feeds additionally...I'm glad to seek out a lot of useful information right here in the submit, we'd like develop more techniques in this regard, thanks for sharing. My website; 더킹카지노사이트 - http://landenly257.designi1.com/6878875/5-tips-about-baccarat-game-you-can-use-today
Hello very nice website!! Guy .. Excellent .. Amazing .. I'll bookmark your site and take the feeds additionally...I'm glad to seek out a lot of useful information right here in the submit, we'd like develop more techniques in this regard, thanks for sharing. my web site ... 더킹카지노사이트 - http://landenly257.designi1.com/6878875/5-tips-about-baccarat-game-you-can-use-today
Do you have any video of that? I'd love to find out some additional information. my site 우리카지노계열 - http://landen4z37s.full-design.com/5-Simple-Techniques-For-casino-23131092
Do you have any video of that? I'd love to find out some additional information. Here is my web site :: 우리카지노계열 - http://landen4z37s.full-design.com/5-Simple-Techniques-For-casino-23131092
WOW just what I was searching for. Came here by searching for 카지노사이트 Here is my web-site: 바카라 - http://israelym713.blogstival.com/6000636/facts-about-internet-casino-revealed
WOW just what I was searching for. Came here by searching for 카지노사이트 my website: 바카라 - http://israelym713.blogstival.com/6000636/facts-about-internet-casino-revealed
Marvelous, what a website it is! This webpage provides helpful facts to us, keep it up. Stop by my homepage: real estate projects - http://jasperskbr76532.pointblog.net/Fantastic-luxury-holiday-destinations-to-take-23681277
Marvelous, what a website it is! This webpage provides helpful facts to us, keep it up. Here is my homepage; real estate projects - http://jasperskbr76532.pointblog.net/Fantastic-luxury-holiday-destinations-to-take-23681277
Very nice post. I just stumbled upon your weblog and wished to say that I have truly enjoyed browsing your blog posts. After all I will be subscribing to your feed and I hope you write again very soon! my web blog: glenelg hotels - http://lorenzopnkg73851.blogolize.com/A-few-excellent-ideas-on-how-to-make-the-most-of-a-long-weekend-24823508
Very nice post. I just stumbled upon your weblog and wished to say that I have truly enjoyed browsing your blog posts. After all I will be subscribing to your feed and I hope you write again very soon! Take a look at my site; glenelg hotels - http://lorenzopnkg73851.blogolize.com/A-few-excellent-ideas-on-how-to-make-the-most-of-a-long-weekend-24823508
Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You obviously know what youre talking about, why throw away your intelligence on just posting videos to your weblog when you could be giving us something informative to read? My web page; earth 4 energy - http://brandon5j14gvy8.collectblogs.com/14669031/this-is-how-you-have-an-eco-friendly-lifestyle-3-great-ideas
Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You obviously know what youre talking about, why throw away your intelligence on just posting videos to your weblog when you could be giving us something informative to read? Stop by my web page ... earth 4 energy - http://brandon5j14gvy8.collectblogs.com/14669031/this-is-how-you-have-an-eco-friendly-lifestyle-3-great-ideas
Hey! This post could not be written any better! Reading this post reminds me of my old room mate! He always kept talking about this. I will forward this post to him. Fairly certain he will have a good read. Many thanks for sharing! Feel free to visit my web-site; date advice - http://dantemhhz37383.blogprodesign.com/8179887/how-to-promote-yourself-for-musicals
Hey! This post could not be written any better! Reading this post reminds me of my old room mate! He always kept talking about this. I will forward this post to him. Fairly certain he will have a good read. Many thanks for sharing! My page - date advice - http://dantemhhz37383.blogprodesign.com/8179887/how-to-promote-yourself-for-musicals
Hello there! I know this is somewhat off topic but I was wondering if you knew where I could locate a captcha plugin for my comment form? I'm using the same blog platform as yours and I'm having trouble finding one? Thanks a lot! Have a look at my weblog :: app marketing - http://edgarjgbx38271.onesmablog.com/The-wonders-of-technology-on-our-life--24791351
Hello there! I know this is somewhat off topic but I was wondering if you knew where I could locate a captcha plugin for my comment form? I'm using the same blog platform as yours and I'm having trouble finding one? Thanks a lot! Feel free to visit my weblog :: app marketing - http://edgarjgbx38271.onesmablog.com/The-wonders-of-technology-on-our-life--24791351
Amazing! Its in fact awesome piece of writing, I have got much clear idea concerning from this piece of writing. My blog post ... free sms online - http://dominickwbfi06285.blogolize.com/Some-examples-why-everyone-should-take-part-in-a-team-sport-24918110
Amazing! Its in fact awesome piece of writing, I have got much clear idea concerning from this piece of writing. my website ... free sms online - http://dominickwbfi06285.blogolize.com/Some-examples-why-everyone-should-take-part-in-a-team-sport-24918110
Remarkable things here. I'm very satisfied to see your article. Thanks so much and I am having a look forward to touch you. Will you please drop me a mail? Here is my blog post greatest blues guitarists - http://simonjiev26171.free-blogz.com/14137508/a-few-spectacular-health-benefits-of-drawing-and-other-innovative-activities
Remarkable things here. I'm very satisfied to see your article. Thanks so much and I am having a look forward to touch you. Will you please drop me a mail? my web-site - greatest blues guitarists - http://simonjiev26171.free-blogz.com/14137508/a-few-spectacular-health-benefits-of-drawing-and-other-innovative-activities
Thanks for every other magnificent article. Where else may anyone get that kind of information in such a perfect method of writing? I've a presentation next week, and I'm on the search for such information. my website; good customer - http://santiago4z88lnc1.blogolize.com/A-few-sustainable-products-examples-for-anyone-to-take-into-consideration-25241896
Thanks for every other magnificent article. Where else may anyone get that kind of information in such a perfect method of writing? I've a presentation next week, and I'm on the search for such information. Also visit my homepage :: good customer - http://santiago4z88lnc1.blogolize.com/A-few-sustainable-products-examples-for-anyone-to-take-into-consideration-25241896
I'm amazed, I have to admit. Seldom do I come across a blog that's equally educative and engaging, and without a doubt, you have hit the nail on the head. The issue is something not enough men and women are speaking intelligently about. I am very happy I stumbled across this during my hunt for something relating to this. Here is my homepage - honda accord hybrid - http://jackson6z13uwv8.timeblog.net/15404166/a-couple-of-the-best-smartphone-companies
I'm amazed, I have to admit. Seldom do I come across a blog that's equally educative and engaging, and without a doubt, you have hit the nail on the head. The issue is something not enough men and women are speaking intelligently about. I am very happy I stumbled across this during my hunt for something relating to this. Here is my web page :: honda accord hybrid - http://jackson6z13uwv8.timeblog.net/15404166/a-couple-of-the-best-smartphone-companies
Hey! Someone in my Myspace group shared this website with us so I came to look it over. I'm definitely enjoying the information. I'm book-marking and will be tweeting this to my followers! Excellent blog and wonderful design and style. Visit my web page opening boutique business - http://todd6v73wae2.blogkoo.com/a-good-number-of-pros-of-online-shopping-to-discover-12406912
Hey! Someone in my Myspace group shared this website with us so I came to look it over. I'm definitely enjoying the information. I'm book-marking and will be tweeting this to my followers! Excellent blog and wonderful design and style. My page ... opening boutique business - http://todd6v73wae2.blogkoo.com/a-good-number-of-pros-of-online-shopping-to-discover-12406912
What's up, yes this post is genuinely pleasant and I have learned lot of things from it regarding blogging. thanks. my web blog :: slide guitar - http://cruztjyo92592.digiblogbox.com/10219303/the-best-art-galleries-to-visit-in-london
What's up, yes this post is genuinely pleasant and I have learned lot of things from it regarding blogging. thanks. Here is my homepage :: slide guitar - http://cruztjyo92592.digiblogbox.com/10219303/the-best-art-galleries-to-visit-in-london
Howdy, i read your blog from time to time and i own a similar one and i was just wondering if you get a lot of spam feedback? If so how do you prevent it, any plugin or anything you can suggest? I get so much lately it's driving me crazy so any help is very much appreciated. Here is my homepage business expands - http://riverecyu98887.acidblog.net/14756518/here-are-several-reasons-why-vacations-are-important
Howdy, i read your blog from time to time and i own a similar one and i was just wondering if you get a lot of spam feedback? If so how do you prevent it, any plugin or anything you can suggest? I get so much lately it's driving me crazy so any help is very much appreciated. Also visit my web page - business expands - http://riverecyu98887.acidblog.net/14756518/here-are-several-reasons-why-vacations-are-important

Pages