propy
2,231 views
8 Discussing
Hot
Latest
Real Estate Firm Propy Launches Crypto-Backed Loans for Homebuyers š”šø
What if you could put up your bitcoin (BTC) or ether (ETH) as collateral to buy a house?
Thatās essentially the idea behind real estate firm Propyās upcoming sale, a condominium located in Honolulu, Hawaii, which is being sold at a starting price of $250,000. If they so choose, the prospective buyer will be able to take out a loan from Propy to acquire the property ā as long as they provide 100% collateral in bitcoin or ether, and pledge the property as well.
āIt's a great proposition for bitcoin holders,ā Natalia Karayaneva, CEO of Propy, told CoinDesk in an interview. āIt's not a taxable event. They get a loan and buy real estate with it, instead of exiting bitcoin, paying taxes, and then buying real estate.ā
Itās a two-year loan, and it comes with 10% yearly interest. If the given cryptocurrencyās value drops more than 50%, the buyer will face a margin call; in a worst-case scenario, the crypto holdings may end up getting liquidated, and the real estate resold at an auction. However, if the cryptocurrency doubles in price, the buyer could end up paying the loan back simply through their gains. The interest payments, and loan itself, can be paid back in bitcoin, ether or USDC.
Another important aspect of the deal is that the property has been tokenized. Launched in 2017, Propy aims to bring real estate transactions on-chain, thus speeding up settlement times and liquidity. In the case of the Hawaiian property sale, slated for January 29, a potential loan would be processed immediately, and upon completing repayment, a buyer would automatically be able to reclaim their crypto.
"Disclaimer: This is for informational purposes only and not endorsed by Binance. Crypto investments are volatile and can lead to losses. Do your own research. Not financial advice."
#Propy #CryptoLoans s #realestate #Blockchain #CryptoFinance
What if you could put up your bitcoin (BTC) or ether (ETH) as collateral to buy a house?
Thatās essentially the idea behind real estate firm Propyās upcoming sale, a condominium located in Honolulu, Hawaii, which is being sold at a starting price of $250,000. If they so choose, the prospective buyer will be able to take out a loan from Propy to acquire the property ā as long as they provide 100% collateral in bitcoin or ether, and pledge the property as well.
āIt's a great proposition for bitcoin holders,ā Natalia Karayaneva, CEO of Propy, told CoinDesk in an interview. āIt's not a taxable event. They get a loan and buy real estate with it, instead of exiting bitcoin, paying taxes, and then buying real estate.ā
Itās a two-year loan, and it comes with 10% yearly interest. If the given cryptocurrencyās value drops more than 50%, the buyer will face a margin call; in a worst-case scenario, the crypto holdings may end up getting liquidated, and the real estate resold at an auction. However, if the cryptocurrency doubles in price, the buyer could end up paying the loan back simply through their gains. The interest payments, and loan itself, can be paid back in bitcoin, ether or USDC.
Another important aspect of the deal is that the property has been tokenized. Launched in 2017, Propy aims to bring real estate transactions on-chain, thus speeding up settlement times and liquidity. In the case of the Hawaiian property sale, slated for January 29, a potential loan would be processed immediately, and upon completing repayment, a buyer would automatically be able to reclaim their crypto.
"Disclaimer: This is for informational purposes only and not endorsed by Binance. Crypto investments are volatile and can lead to losses. Do your own research. Not financial advice."
#Propy #CryptoLoans s #realestate #Blockchain #CryptoFinance
PropyKeys
Home Address Registry
Become part of a world-first movement of creating an onchain registry of homes
Inching closer to a future where tokenized real-estate could be used as collateral in onchain protocols
#nft #propy #mint #BaseChain
Invitation codes:
https://propykeys.com/mint?ref=9F22UL
https://propykeys.com/mint?ref=Z75Q5I
https://propykeys.com/mint?ref=44YHWH
https://propykeys.com/mint?ref=TC77EX
https://propykeys.com/mint?ref=5DJ87W
Feel free to use codes, you will get some free points.
#Write2Earn
Home Address Registry
Become part of a world-first movement of creating an onchain registry of homes
Inching closer to a future where tokenized real-estate could be used as collateral in onchain protocols
#nft #propy #mint #BaseChain
Invitation codes:
https://propykeys.com/mint?ref=9F22UL
https://propykeys.com/mint?ref=Z75Q5I
https://propykeys.com/mint?ref=44YHWH
https://propykeys.com/mint?ref=TC77EX
https://propykeys.com/mint?ref=5DJ87W
Feel free to use codes, you will get some free points.
#Write2Earn
See original
Propy will release AI Landmarks v.2.0 on April 13
Propy is set to launch the second version of AI Landmarks on April 13th. This event will only last 24 hours, during which users will have the opportunity to mint AI Landmarks.
Refer to the official PRO tweet
Propy is a decentralized real estate market supported by superior blockchain infrastructure to facilitate unified real-time transactions to reduce fraud, and redPropy (PRO) is a blockchain project that aims to reform the real estate market by making the process of buying, selling and registering property more transparent, secure and paperless. Propy is focused on solving problems in the international real estate market, where buying property in other countries can face legal and administrative obstacles.
#pro #propy #news
Propy is set to launch the second version of AI Landmarks on April 13th. This event will only last 24 hours, during which users will have the opportunity to mint AI Landmarks.
Refer to the official PRO tweet
Propy is a decentralized real estate market supported by superior blockchain infrastructure to facilitate unified real-time transactions to reduce fraud, and redPropy (PRO) is a blockchain project that aims to reform the real estate market by making the process of buying, selling and registering property more transparent, secure and paperless. Propy is focused on solving problems in the international real estate market, where buying property in other countries can face legal and administrative obstacles.
#pro #propy #news
Login to explore more contents