RentHop, the apartment search marketplace, has announced it will now accept Bitcoin from landlords and real estate brokers advertising apartments for rent.
“RentHop has always catered to early adopters exploring innovations in real estate,” explained RentHop CEO Lee Lin. “Over the years we’ve noticed the most successful landlords are the ones who proactively seek out and embrace new and disruptive platforms. Bitcoin users are exactly the type of participant we welcome to our marketplace.”
The company currently holds a working balance of Bitcoin for transactions. However, when it receives Bitcoin payments, they intends to accumulate the currency. Many vendors immediately convert Bitcoin purchases to USD, forcing customers to bear the exchange-rate volatility of owning bitcoin. However, within a 30% band, RentHop plans to keep the bitcoin price constant.
“We have a lot of faith in the long-term potential of Bitcoin as both a payment platform and a store of value,” said RentHop co-founder and CTO Lawrence Zhou. “We would love to see a world where members of the real-estate ecosystem accept BTC, for example, as a low-friction mechanism for processing application fees, key deposits, or even rent payments. We want to help bring it one step closer to realization. No more heading to the bank to print cashier’s checks, or waiting days for wires to clear.”
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