Last month, New York City had its first cryptocurrency real estate closing. The next week, an owner of the Plaza floated the idea of selling a “Plaza Token” to a group of foreign investors. Now, hedge fund founder and tech investor Claudio Guazzoni de Zanett, the owner of the landmarked townhouse at 10 East 76th Street, is asking one price in US dollars and a higher value in digital currencies due to their volatility. He is willing to accept bitcoin, Ethereum or Ripple. “I’m a true believer in these networks, but it’s very volatile,” Zanett told the Wall Street Journal. “They could be down 60% in two weeks.”
Just when you think you understand the world of cryptos, all you understand is how little you know. And when you do actually master a topic, it will change. Which is why to get you started, we’ve put together a 101 guide to cryptocurrencies and real estate transactions. From the technology behind digital currencies such as Bitcoin to their risks, the real estate market is ripe for potential when it comes to this burgeoning market.