Using large sums of money to make a transaction is delicate, especially when those funds are kept in crypto. The crypto market is subject to value fluctuations and if you are planning to invest your crypto earnings, it is important to make sure that money is locked in place. One of the best ways to do so is through stablecoins.
What are stablecoins?
Cryptocurrencies have been around for over a decade boasting strong benefits and some volatility; therefore, stablecoins were created as a stable trading solution. Unlike traditional cryptocurrencies that are known for their exciting value fluctuations, a stablecoin maintains a stable value.
This is because they are pegged to a tangible asset. There are different assets that are used such as gold or the US dollar and stablecoins mirror their values. Since cryptocurrencies can’t guarantee short-term stability, many investors and institutions look to stablecoins as a more risk-averse solution to partake in the crypto market.
Let’s paint a picture:
Cashing Out vs. Stablecoins
You invested in Bitcoin some years ago, and now you’ve quadrupled your money and you have enough to put a down payment on a house. You want to quickly move those funds somewhere safe to avoid the risk of the value decreasing.
Option A: Cashing Out
You decide that you want to move your earnings to your bank account to keep it safe. You move your Bitcoin to an exchange, sell it for dollars, transfer those dollars to your bank account and wait for them to arrive. This can be expensive and time-consuming. Each step has a fee, bank transfers can take up to days to arrive, and you’ve created a taxable event. Not to mention in that time, the market value continues to shift and you are subject to the cash-out rate available by the exchange you choose to use – not the best available one.
Option B: Stablecoins
Instead of cashing out, you exchange your Bitcoin for USDT (stablecoin hedged to US Dollars) to keep them safe from value fluctuations. This is a great option as all you have to do is purchase USDT with your Bitcoin right from the exchange with the added benefit of re-entering the crypto market if you change your mind. Now you can keep those funds there without the value budging and skip the headache that comes with cashing out.
Using Crypto to Buy Property
You decided to go with the stablecoin route, but now what? This is where ForumPay-authorized escrow/title agencies come in handy. ForumPay is a crypto payments service provider that enables agencies to accept crypto payments and instantly converts them to cash at the best available rate the moment a purchase is made. No wait time or risk of value fluctuations.
Escrow/title companies that use ForumPay technology can accept crypto payments for real estate purchases. This can be done as a normal crypto-cash transaction, or even better, through ProperT.
ProperT
ProperT is an Ethereum-based utility token (ERC20) created and designed to give homebuyers a 5% discount when purchasing properties. This discount can be applied to the buyer’s full purchase price of a property or the down payment if a mortgage is provided. Homebuyers that hold ProperTs can purchase their property directly with these tokens.
ForumPay-authorized title companies accept the ProperT payment for a new home or property. The buyer provides 95% of the funds in ProperTs, and 5% is contributed by ProperT. The entirety of the funds are instantly converted to fiat and sent to the seller’s escrow agent at closing.
Acquiring ProperT
Acquiring ProperT is simple. Visit getpropert.com to access the ProperT buying portal where ProperTs can be bought with either crypto, stablecoins, or a wire transfer. The total amount of ProperTs purchased will immediately appear in your wallet allowing you to complete the transaction.
