Upstate real estate agency to accept Bitcoin payments, northern beaches

A real estate agency in Sydney’s north has started accepting Bitcoin payments, as an alternative to cash. Find out more.

A real estate agency on the northern beaches has started accepting Bitcoin as a form of payment.

Upstate, which has an office in Dee Why and employs 80 staff, will now accept the virtual currency for services such as property marketing, but not yet house sales, although it is hoping to introduce it.

At the moment Bitcoin, which was created in 2009, cannot be accepted for house sales without a change in the law, according to the agency.

Upstate Director Peter Mosedale. Picture: Supplied.

Peter Mosedale, Upstate Licensee and Director, said they were making the move because they wanted to keep up with the latest developments.

He said Upstate was following in the footsteps of businesses like PayPal and Tesla in accepting cryptocurrencies.

He said it was all part of “living in a fast-paced digital world”.

“Our vision is to not only keep up but embrace change, and just like PayPal, Tesla and many other leading businesses globally, Upstate now accepts Bitcoin,” he said.

A visual representation of the digital cryptocurrency Bitcoin. (Photo by JACK GUEZ / AFP)

“We can now provide our customers with the latest tech to make their real estate journey an even greater experience.”

Lachlan Yeates, who is also an Upstate Licensee and Director, said it will give customers more options when it comes to payments, whether they are selling, leasing or buying properties.

He said paying with cryptocurrency also provides many benefits.

“As we all know, being agile is a critical factor in real estate success, and with cryptocurrency here to stay, we wanted to make this a viable option,” he said.

“Bitcoin allows our customers to make secure digital payments and can also reduce transaction fees and long wait times, especially when buying from outside of Australia.”