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ATTRACT A NEW SEGMENT OF HOME BUYERS BY ACCEPTING CRYPTO FOR REAL ESTATE
Eliminate barriers for crypto-consumers looking to enter the property market by facilitating real estate purchases.
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WHY CRYPTO AND REAL ESTATE?
For crypto holders:
Convenience:It is much easier for crypto holders to transfer their funds directly. The alternative would involve sending their funds to an exchange, selling, and moving them into a bank account as a taxable asset, to only then start the buying process.
Simplicity: Digital wallets and account addresses ensure safe transactions with public and private keys. Private keys can be used to sign and verify transactions on the blockchain. This means transactions only ever involve the buyer and the seller, or agency.
Diversification: Crypto holders can use blockchain technology and tokenization to access fractionalized real estate investments and diversify their assets.
For sellers:
No banking intermediaries: Traditional currencies and banking can stand in the way of buying a property. Cryptocurrencies eliminate third-party complications and facilitate payments directly to the seller.
Speed: Cryptocurrencies enable quicker transactions than traditional payment processors, meaning sellers save time and secure their funds sooner.
Increased customer base: Crypto is the fastest-growing consumer segment in the world. Approximately 40% of U.S. consumers own at least one cryptocurrency, and according to one study, 24% would spend their funds on a new home. Sellers can increase their customer base by tapping into this affluent market.
CRYPTO CHALLENGES
Cryptocurrencies can be volatile
Most merchants require FIAT currency deposits
There are various cryptocurrencies and digital wallets
Mortgage lenders require seasoning of funds for real estate purchases
FORUMPAY OVERCOMES THESE CHALLENGES BY OFFERING
Protection from volatility through instant crypto-to-FIAT conversions
Payouts to sellers or title and escrow companies in FIAT through wire transfers
Cryptocurrency and wallet-agnostic payment solutions
No six-month seasoning period before real-estate transactions are executed
HIGHEST VALUE REAL ESTATE TRANSACTIONS THROUGH FORUMPAY
transaction for a single-family residence paid for entirely in crypto
deal through Title Partners of South Florida, Inc.
real estate transaction through Sovereign Advisors Bahamas
The buyer’s identity and crypto funds are verified before the transaction.
HOW IT WORKS
ForumPay schedules a payment call with the buyer and the agency or title and escrow company and the buyer uses their crypto wallet to make the payment. ForumPay instantly converts the crypto to FIAT.
The funds are settled into the seller, agency, or title and escrow company’s bank account in FIAT.
WHY FORUMPAY?
ForumPay elevates transactions, enabling businesses to secure new revenue streams without added risk or complexity. ForumPay is meticulously designed to address the challenges faced by global businesses and payment processors by guaranteeing scalability, compliance, speed, and security. ForumPay solutions empower users with the ability to:
- Reach over 575 million crypto-consumers via a wallet-agnostic solution.
- Avoid cryptocurrency volatility through instant confirmation and conversion to USD, EUR, GBP, or other traditional FIAT currencies.
- Receive direct bank deposits on a daily basis.
- Integrate the system smoothly into existing payment flows.
- Transact safely with dependable security measures.
- Assure compliance with all international jurisdictions.
- Benefit from established trust with top payment leaders.
Step confidently into innovative transaction processing with ForumPay.
SECURITY AND COMPLIANCE ABOVE EVERYTHING ELSE
ForumPay’s ability to authenticate the origin of funds and the duration of digital assets in a particular wallet earns it the distinction of being an approved solution by Fannie Mae and Freddie Mac.
We ensure the highest level of KYC/AML compliance and security for our merchants through our partnership with Sum & Substance.
We instantly verify the consumer’s wallet, availability of funds and flag any security concerns with our partners at Chainalysis.
FAQs
Universality: Traditional currencies and banking systems can often stand in the way of buying a property. Crypto eliminates third-party complications thanks to its universal and democratic nature. It is available at the touch of a button to anyone, anywhere in the world.
Simplicity: Digital wallets and account addresses ensure safe transactions through public and private keys. Private keys can be used to sign and verify transactions on the blockchain, meaning transactions only involve the buyer and the seller or agency. Read more here.
The business or individual will need to open an account with ForumPay and complete our online KYC verification process, then the seller will be ready to accept crypto payments from the buyer.
The seller will invoice the buyer just as they would with a FIAT currency, and ForumPay’s payment gateway will show the buyer exactly how much cryptocurrency they need to send for this transaction. The rate will then be locked in for both the buyer and seller. The seller will therefore know exactly how much FIAT currency they will receive and the buyer will know in advance exactly how much crypto they need to use for the transaction.
Yes, ForumPay performs checks ahead of time on the buyer, cryptocurrency and also the cryptocurrency wallet used for the purchase to make sure that there are no issues at the time of the transaction.
With ForumPay and one of our partner title/escrow companies both businesses and individuals can purchase real estate by paying in crypto directly from the cryptocurrency wallet of their choice.
ForumPay can onboard new title/escrow companies to facilitate the transaction with the seller’s preferred choice.
ForumPay currently supports the following cryptocurrencies:
BTC – Bitcoin
BCH – Bitcoin Cash
ETH – Ethereum
LTC – Litecoin
DASH – Dash Coin
XRP – Ripple
TRX – Tron
HOM – House of Mandela Token
ProperT – Property Token
USDT – Tether ERC20 and TRC20
USDC – Circle
ForumPay owns and operates its own cryptocurrency exchange, so we can enable support for new cryptocurrencies based on demand.
We have the technical capability to offer both options, but usually the processing fee is covered by the real estate buyer.
ForumPay’s payment gateway technology enables the seller to invoice their client in FIAT currency, so the buyer can simply choose which of the supported cryptocurrencies they would like to use to make the purchase. ForumPay then instantly converts crypto into FIAT at the moment of the transaction and settles the FIAT funds to the seller or the title/escrow company.
Yes, ForumPay can be harnessed to perform all of the necessary checks on the transaction to facilitate crypto payments for a mortgage down payment.
Some buyers purchase real estate internationally, and in these circumstances, crypto offers a much more efficient form of payment. Others simply use their accumulated wealth to invest or purchase real estate. Paying directly in crypto is a lot more convenient, direct, faster and more cost effective than converting crypto into FIAT manually in order to purchase real estate.
For the seller nothing changes. It can even be compared to using a card payment. In this case, the buyer would use cryptocurrency directly from the wallet of their choice, while the seller receives the asking price in FIAT currency directly into their bank account, as if the buyer had made the purchase through traditional means.
ForumPay supports both options. The buyer can either pay the entire real estate asking price with cryptocurrency, or make additional payments via traditional payment railways to reach the full asking price.
ForumPay can facilitate cryptocurrency real estate transactions globally with the only exception being OFAC sanctioned countries.
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