Cryptocurrency Enthusiast Offers 10 Percent Discount on His House if Paid in Dogecoin

With a 10 percent discount for Dogecoin payment, the current value of Paul's NY home comes down by Rs. 28 lakhs.

Cryptocurrency Enthusiast Offers 10 Percent Discount on His House if Paid in Dogecoin

Dogecoin price in India has swung a lot in the last few months

Highlights
  • A man has put up his house in New York on sale
  • He has given prospective buyers seven cryptocurrency payment options
  • But he is more enthusiastic about getting paid in Dogecoin
Advertisement

Each day there's new evidence to suggest that cryptocurrency is getting mainstream. The biggest advantage in the minds of cryptocurrency traders, it appears, is the capacity of these virtual coins to beat inflation, even in the long run. A US resident is now so bullish on the future of these coins that he is reportedly offering a 10 percent discount on the purchase of his house to anyone willing to pay him in Dogecoin, the cryptocurrency, which started as a meme but has become a serious contender for the top virtual currency.

Scott Paul, the founder-CEO of a tech company based in Utah, is said to have fixed the sale price of his New York home at $389,000 (Rs 2.88 crores). The "for sale" sign in the front yard shows seven cryptocurrency options for payment — but Paul really wants Dogecoin because of its promise to become a payment utility in the future, reported AZCoin News. Dogecoin price in India on August 3 was around Rs. 15.

If Paul gives a 10 percent discount for Dogecoin payment, the current value of the property will come down by around Rs. 28 lakh. The home was being rented out but when the tenants moved out, Paul said it was time to sell it.

“The decision was pretty obvious. I have a house I want to sell, why not push it to the limit to see if I can sell it for Doge, because we have to keep using this currency if we're going to get it to the mainstream," Paul was quoted in the report as saying.

Paul has invested in cryptocurrency and is comfortable with the swings in the speculative cryptocurrency market, believing things will be better as these are just early days.

However, the lack of a regulatory mechanism for cryptocurrencies creates a hurdle in making them mainstream. But Paul is optimistic about its future.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Utah, cryptocurrency, Dogecoin
CBSE Class 10 Results to Be Announced at 12pm Today: How to Check
Realme Pad Specifications and Design Leaked, Renders Show Aluminium Unibody Finish, Built-In Stylus Holder
Facebook Gadgets360 Twitter Share Tweet Snapchat LinkedIn Reddit Comment google-newsGoogle News

Advertisement

Follow Us
© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »