South Africans are selling their houses, cars online for Bitcoin

property car for bitcoin gumtree

So I hear Bitcoin is a pretty big deal right now.

After its late-2017 rally, the cryptocurrency is now valued at over US13 600, or R167 768.25. That means one could easily purchase a car with a single Bitcoin.

And it seems that’s what some sellers are offering on second-hand marketplaces like Gumtree and OLX.

According to the former’s head of core Claire Cobbledick, the site has seen an increase in cryptocurrency-only sales and swaps recently.

“This is particularly true for high-value items like cars, bikes and boats. Many sellers are willing to take a gamble with their assets in hopes of a large pay-out,” she remarked in a press release.

A simple search highlights the quite noticeable trend on the sites too.

‘High-value items like cars, bikes and boats’ are being sold on second hand sites for Bitcoin

One seller’s offering a BMW X5 4.8i in exchange for Bitcoin, or R179 000 in traditional currency.

Another takes things a step further, willing to let go of a Mercedes Powerliner 1729 truck for “Bitcoin, Bitcoin Cash, Litecoin, Dash, Ethereum, or Ripple.”

And that’s not all.

We’ve also seen rubber ducks, Volkswagens, property and even musical instruments all put up on offer for a slice of digital currency.

Cobbledick however doesn’t believe this is a guaranteed positive investment.

“Bitcoin is a volatile currency, so while you could easily see a 50% increase in your investment, you could just as easily end up with nothing. It’s up to the seller to decide if they are willing and able to take a gamble,” she said.

Nevertheless, even if the currency is prone to fluctuate violently, we’re likely to see this trend become more prominent as the year goes by.

And who knows, maybe you’ll be tempted to put your house on the market for Dogecoin in the coming year.

Andy Walker: Editor
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