Now Buy Real Estate with Cryptocurrency on Lofty.ai!
Max Ball
We are excited to announce that both international investors and investors in most US states can now purchase Lofty tokens with ALGO and USDCa cryptocurrencies.
The US states where this feature is not currently supported include California and New York.
Enabling crypto payments has been a long time coming, and we appreciate your patience as we’ve been navigating the regulatory hurdles and licenses needed to make this a reality.
Purchasing real estate tokens on Lofty.ai with ALGO and USDCa is just as simple as purchasing tokens with a credit card. You can complete your purchase with fees that are typically a fraction of a cent and receive your purchased tokens immediately.
Initially, you can invest using ALGO and USDCa via the Pera Wallet (fka Algorand Wallet) or the My Algo wallet. You can easily fund these wallets via a platform like Coinbase.
If you use the Pera Wallet, you can even buy ALGO directly in app via the integration with MoonPay.
Here’s how it works:
- Open the Lofty.ai Property Marketplace
- Select a property of your choice, such as 3834 W Polk St
- Click Invest, and at the payment method step, select Cryptocurrency
- Select which cryptocurrency you will pay with and your wallet — Pera Wallet or My Algo
- Lofty will present you with the current crypto/USD conversion rate, valid for 2 minutes
- Click ‘Accept Rate & Pay’ and you’re done!
You’ll receive your tokens momentarily after completing payment.
If you use a Ledger device linked to Pera Wallet, you will also need to confirm your transaction in your Ledger device.
Below are screenshots from the crypto payment selection and final purchase step.
In the upcoming weeks, Lofty will also launch the ability to invest in real estate using popular ERC-20 wallets and other cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and more.
Why enabling the purchase of real estate with crypto payments is important
Giving people the ability to purchase Lofty tokens with crypto has a number of advantages.
The more obvious ones include low fees and the convenience of not having to convert crypto to USD before purchasing Lofty tokens like before.
Beyond these clear benefits, we feel there is a much bigger reason this new update is so important.
This new update pushes us closer to becoming a true Web3 company, which has been our goal with Lofty from the very start.
Lofty token holders already make all property decisions via our governance program––ranging from when to increase rents to whether to accept a maintenance request from the tenant or not.
This is how real estate investing (and all investments for that matter) should be.
Not everyone has a credit card or a US bank account, but just about everyone around the world has access and the ability to purchase and hold crypto.
For someone living in a country with an unstable currency, crypto is a must-have and can serve as a literal life-saver.
It’s often the case that people in these countries are only purchasing items or making investments if they’re able to do so in crypto due to hyperinflation, unstable currencies, and corrupt governments in some cases.
We are proud that we now give people in these countries the opportunity to invest in U.S. real estate with crypto, regardless of their location.
This has never been done before, and with this new feature roll-out we take one step further towards our goal of democratizing real estate investing for the entire world.
It should not be the case that the top 1% of wealth is the only group that can benefit from the largest and one of the safest asset classes in the world––U.S. real estate.
This is a step in that direction, and there’s much more on that front coming very soon. We hope you enjoy this new update and thank you again for your patience and ongoing support.
