According to Marc Da Silva, Property Vine, an estate agency in the UK, is now accepting cryptocurrency as payment. The company has entered the cryptocurrency market, revealing that landlords and vendors can now pay for its services using Bitcoin and other digital currencies. Cherry DeSilva of Property Vine said,
“with Elon Musk recently investing a $1.5bn in Bitcoin and announced Tesla will be accepting Bitcoin as payment for its electric cars, we thought it was time to jump on board.”
Tesla’s $1.5 billion Bitcoin purchase and acceptance of Bitcoin as a payment method for its products have encouraged more companies to accept cryptos as payment. Property Vine, which operates a network of self-employed estate and letting agents across Essex, joins the increasing number of companies that have started accepting cryptos as payment.
In 2015, RE/MAX London, the UK-based franchisee of RE/MAX Europe, became the primary agency in the UK to accept Bitcoin, Litecoin, and Dogecoin as a payment method for property rentals after accepting a partnership with processor GoCoin. This decision allowed RE/MAX’s London offices to accept the payment method, and the franchise said this move would benefit both itself and its tenants. Nevertheless, other agencies have not followed the franchise’s lead in terms of accepting cryptos as payment. But they might follow them soon. According to DeSilva, if Property Vine’s fee was £1000, they would convert that into Bitcoin at the current rate, and that is what they would charge. He also said the company is always forward-thinking and has always been at the vanguard of technology. DeSilva said,
“We now accept Bitcoin as payment should a vendor or landlord choose to pay in that format.”
Hopefully, other estate agencies will follow Property Vine’s move.
Da Silva, M., 2021. Estate agency is now accepting cryptocurrency as payment. Property Industry Eye.