Bitcoin has been growing its popularity over the past few years and it has since been making noise as well paving a way for another form of payment for different services and establishments. It is starting to get evident as some countries are starting to accept Bitcoin instead of cash or credit cards as a way to pay for their expenses.
In May 2021, a rental platform located in Canada called liv.rent, listed Bitcoin as a mode of payment for its rent. This then lets its tenants pay for it with this type of cryptocurrency all the while its landlord receiving fiat money which is a type of currency that is issued by the government that is not backed by commodities like gold, etc.
This Vancouver-based startup rental platform has presented multiple options for its tenants to pay with Bitcoin just like some other companies and establishments that are also starting to accept this type of cryptocurrency as payment.
Liv.rent is just one of the many establishments that are always working on automating their renting procedures from searching for the right apartment for you up to the point of signing your contract, aiming for easier and more convenient services for their old, new, and prospective renters.
Their tenants can now pay either with Coinbase or other crypto exchanges available in Canada and they, both the landlord and the tenants should be on this platform to be able to use this payment option.
The Canadian cryptocurrency industry is improving and these types of features will continue to break barriers by giving everyone the chance and option to dabble in this new world of cryptocurrency, and one way is by using it as a form of payment which is one of the basics of living for Canadian renters.
Liv.rent also stated that this payment option is much cheaper than wire transfer which can relieve renters from financial barriers such as extra fees that come along with renting a Canadian house or apartment. This can help support newcomers in Canada by assisting them in finding their new home even before their arrival.