A house in Essex was bought entirely with Bitcoin in December , making history as the first ever property purchased using cryptocurrency in the UK. Ayesha Hazarika. Bitcoin has been associated with tax evasion and drug trafficking, but Mr Loginov and his business partner Ned El-Imad have hired advisers to ensure the currency has not been bought to launder money. Mr Loginov said the likely buyer would be an Asian tech entrepreneur who was familiar with Bitcoin.
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A house in Essex was bought entirely with Bitcoin in Decembermaking history as the first ever property purchased using cryptocurrency in the UK. A Canadian website specialising in buying and selling property worldwide using cryptocurrency, with the main forms being Bitcoin, Ethereum and Litecoin. The company is based in Croydon, London. The house is still on the market. This was the first time the Land Bitcoib had given permission to record a Bitcoin sale. Many estate agents and sellers are extremely wary of accepting any form of cryptocurrency due to buy house in london with bitcoin unpredictability and lack of protection. However, the number of UK and US estate agents willing to take Bitcoin as payment is slowly on the rise.
Buying a House with Bitcoin Timeline
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Using Bitcoin to buy a house
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Yes, submit this vote Cancel. All Rights Reserved. Coventry Building Society, Skipton and the Yorkshire Building Society have all announced that they will accept money deposits that has come from Buy house in london with bitcoin earnings. The sellers say Bitcoin is more efficient and easier to deal in than banks. Loginov has hired a business intelligence firm Quintel and barrister James Ramsden QC, to ensure that the money is coming from legitimate sources. Report Comment. He admitted there were still hurdles to overcome, including how to pay commission to estate agents and stamp duty to HMRC in Bitcoin. Champions League. Market Data Terms of Use and Disclaimers. Laura Weir. Future London. Get hitcoin delivered to your inbox, and gitcoin info about our products and services.
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