Aerospace Engineer Uses Bitcoin Cash to Buy $415,000 Home in Seattle

The mainstream adoption of cryptocurrency is continuing on pace in all different business sectors and in many economies across the world. The latest example of this featured in the press is the recent acquisition of a home using bitcoin cash.

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The Bitcoin Cash House

Aerospace Engineer Uses Bitcoin Cash to Buy $415,000 Home in SeattleA young aerospace design engineer has used bitcoin cash to buy a three-bedroom $415,000 house in Tukwila, a suburb of Seattle, Washington. The 23 year old investor, Cary Kuo, had to endure a lot of bureaucracy but was eventually able to use his cryptocurrency holdings to pay for a ten percent down-payment on the property and get a mortgage for the rest.

This is assumed to be the first time ever someone has used any cryptocurrency to acquire real estate in the regional market, according to the Seattle Times. It can also be a precedent for someone securing a traditional mortgage in the US nationally for such a transaction, as most publicized real estate for bitcoin deals have so far involved paying the sum outright without the added difficulties of getting an approval for a loan.

Fannie Mae Demands USD

Aerospace Engineer Uses Bitcoin Cash to Buy $415,000 Home in SeattleThe previous owners of the house, as well as the real estate agents involved, were skeptical when they first heard about the buyer using bitcoin cash or other cryptocurrencies to pay for the Read More Here