Paying a mortgage in cryptocurrencies is already a reality in the United States

Cryptocurrencies are becoming more and more integrated into our lives and some applications such as PayPal are already beginning to include improvements such as the possibility of making transfers of this virtual currency or now it is also possible have a mortgage in cryptocurrencies.

This is already a reality in Miami, USA where you can buy a house for 30 years with a cryptocurrency mortgage. The company that makes this possible is Milo, which has been offering mortgages in ‘crypto’ since the end of last year.

There are many people interested in this type of mortgage, and specifically there is a waiting list of 6,000 people who want a mortgaged property in bitcoin and that the payment they make each month is with this virtual currency.

The founder of Milo, Josip Rupena, explained that the company realized that many of his clients had an “interesting wealth in cryptocurrencies” and that when requesting a loan for a mortgage conventional made them more complicated.

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It is, therefore, one of the first companies to offer its customers the possibility of large fortunes in cryptocurrencies to be able to buy a home with it.

The interest rates they are offering right now are between 5 and 7%. Y If we look at your website, in case we are interested in a million dollar house, Milo offers its clients a 30-year mortgage at 5.95% interest.

The time it takes to create cryptocurrencies depends on the equipment we use.

The trick to all of this is that investors must have 100% of the amount needed in cryptocurrencies and the term of these mortgages can be closed in just three weeks by paying the full amount and without an extra initial payment.

The target audience for this new form of mortgage are investors who want to invest their virtual fortune in physical goods hence, from Milo they are so demanding and demand that applicants for a home of, for example, one million dollars they must have that amount in cryptocurrency funds.

Shiba Inu is based on a meme and some believe that it will go down in value as fast as it has gone up.

The idea is that “the buyer does not sell his cryptocurrencies and then see how their value goes up”, they have explained from Milo, but what it is about is that the organization is all in virtual currency and that no change is necessary.

for now, the company only accepts buyers from the United States and this innovative system also entails great risks, since in the event that Bitcoin declines in value, the company would go bankrupt.

On the contrary, if its value goes up, Bitcoin will skyrocket and the value of the floor will also go up. Despite these obvious risks, there are many who want to continue betting on this new form of mortgage.

An analyst calculates that the fall of Bitcoin could reach up to 17,000 dollars.

Faced with this situation, the Nobel Prize in Economics, Paul Krugman, warns that Due to the lack of knowledge about the financial products of cryptocurrencies, something very similar to the 2008 crisis could occur, but for now we will have to see what the panorama is that we find ourselves in this sense in a few years.

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Paying a mortgage in cryptocurrencies is already a reality in the United States