SAN FRANCISCO, Oct. 20, 2021 /PRNewswire/ -- Pacaso, the leading real estate platform that helps people buy and co-own a second home, today announced that it will begin accepting cryptocurrency as a payment option for ownership shares in second homes offered through its platform. In an industry first, aspiring co-owners will now be able to pay for their second homes with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Wrapped Bitcoin (WBTC), and a number of other cryptocurrencies, including five USD-pegged stablecoins.
Crypto payments will be facilitated by BitPay, a leading crypto payment service provider, allowing buyers to use the wallet and coin of their choice.
"Digital currencies and the blockchains that power them are seeing increased adoption across the real estate industry, and a crypto payment option is a recurring topic in our conversations with prospective buyers of second homes," said Austin Allison, Pacaso's Co-founder and CEO. "As we expand internationally and put second-home co-ownership within reach for more people across the globe, we're thrilled to be able to respond to that demand and extend as many payment options as we can to our customers."
"We are seeing more transactions being made for large purchases like real estate as more crypto holders want to spend and live their life on crypto. Pacaso makes a second home a reality," said Stephen Pair, CEO of BitPay. "The market potential for crypto is huge, with $55 Billion as the estimated value of purchases consumers will make using cryptocurrency in the next 12 months."
Pacaso's BitPay payment integration makes paying for a second home with cryptocurrency as seamless as paying with fiat currency. Buyers are free to use cryptocurrency as a down payment in their home, and finance the remainder of the transaction, or otherwise split payment between crypto and fiat currency, with the help of streamlined invoicing tools. To pay, buyers simply select their preferred wallet or exchange; choose a cryptocurrency; and either scan a QR code or manually enter payment details into their wallet.
"With mass adoption of digital currencies well underway, increasing numbers of second-home buyers will demand a full range of payment options," Allison continued. "Whether you're HODLing Bitcoin, diversifying out of a DOGE-heavy portfolio, or somewhere in between, Pacaso is here to help you realize your second-home dreams."
For more details about Pacaso's cryptocurrency payment options, visit pacaso.com/financing.
Pacaso® (pronounced like "Picasso") modernizes the decades-old practice of co-ownership by creating a marketplace that makes buying, owning, and selling a luxury second home easy. From curating the best listings in top second home markets to offering integrated financing and sales from as little as ⅛ to as much as ½ ownership; upscale interior design; and professional property management, Pacaso provides owners with all the benefits of owning a second home with less hassle. After purchase, Pacaso manages the home on an ongoing basis and supports a frictionless resale process in partnership with a licensed real estate professional.
Pacaso was co-founded by former Zillow executives Austin Allison and Spencer Rascoff.
Founded in 2011, BitPay celebrates its 10th birthday this year as one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company's mission is to transform how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information, visit bitpay.com.