The Vancouver startup making it possible to pay rent using bitcoin
When a renter pays in bitcoin, the funds are transferred and later deposited as CAD into the landlord’s bank account.
liv.rent a Vancouver rental platform, announced that its added bitcoin as a form of payment, allowing tenants to pay their rent with the cryptocurrency while the landlord receives fiat currency.
The new payment method works the same as any other form of payment on the liv.rent platform, however, in order to enable the cryptocurrency payment, both the renter and landlord must be on the liv.rent platform.
When a tenant receives a payment request, they can go to liv.rent and pay with bitcoin. There are two options: pay directly through Coinbase, or scan a QR code containing the address of a unique payment request and pay with the cryptocurrency wallet of their choice.
When a renter pays in bitcoin, it’s transferred and later deposited as CAD into the landlord’s bank account.
liv.rent belives that, with this new feature, landlords can appeal to a wider pool of potential tenants. “People are requesting more choices,” said liv.rent’s Director of Research & Development, Fuad Arafa. “We’re giving choices to the people.”
live.rent was founded in 2018. The company automates every step of the rental process from searching to contract signing. The company leverages AI algorithms to match tenants to landlords and cloud storage solutions, online and in an app.