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Bitcoins / Breaking News

Bitcoin approved as payment for rent

The recent rise in the popularity of cryptocurrencies has led to a rental company deciding to implement Bitcoin transactions into its online portal.

As the upward trend in global popularity for digital currency continues, more and more users are finding new use cases for Bitcoin. Currently, the primary use for Bitcoin is trading and investing, but experts predict that as more people become involved with cryptocurrencies, more businesses will begin accepting them as payment forms. Amazon already accepts cryptocurrency transactions through Purse.

Bitcoin for Rent

There has been news recently of real estate being sold for Bitcoin, but does it have a place in the rental market? A company in New York called ManageGo, which offers an online renting platform, has recently announced its plans to implement Bitcoin as a payment type in the near future. They said that since innovation was their primary focus, they decided that Bitcoin is a wave of the future, and wanted to lead the way in accepting it as a currency.

ManageGo did note that there are very few clients who are currently showing an interest in paying with the decentralised cryptocurrency, but they anticipate demand will increase in future. They plan to introduce Bitcoin payments through a Coinbase gateway as early as 2018.

Reports suggest that property management companies are yet to embrace online payments, and generally lack in the area of innovative technology. With the incorporation of Bitcoin, the industry can benefit greatly from the financial and technological innovation that comes with digital currency.

Perhaps this is the beginning of another trend that will expand the mainstream adoption of Bitcoin, and cryptocurrencies in general. Innovation is very popular among young adults in the modern market, and companies will want to get in line with their competitors to ensure they don’t lose their client base.

Rent Image Source: Flickr

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