Question of the Week: What Are the Risks Associated With Buying Real Estate With Bitcoin?

As bitcoin continues to penetrate new industries as a form of payment, many are wondering if crypto transactions pose any risks. Following news of the $22.5 million penthouse sale using cryptocurrency in South Florida, we asked Blake Harris, Miami-based attorney and managing partner of Blake Harris Law, to weigh in.

What are the risks associated with buying real estate with bitcoin?

“A bitcoin transaction is not reversible, so if you are transferring your crypto to a seller for property, it’s important to be certain your crypto is going directly to the seller and not someone else,” Harris cautions, adding, “Bitcoin fluctuates often, always increasing risk for both the buyer and seller. Not every aspect of the real estate industry has caught onto crypto yet. You may have difficulty finding an insurance and escrow company comfortable with a transaction that uses bitcoin, rather than a traditional fiat currency.”

You May Also Like
Notary Tops the List of Florida’s Dream Jobs 

Notary work surges in Florida as real estate dominates nationwide.

Read More
La Boulangerie Boul’Mich Celebrates Its New Kendall Location

Bringing its signature Latin-European flavors to Kendall, the beloved bakery and café marks the occasion with a grand opening celebration on Wednesday, February 19, 2025.

Read More
CityPlace Doral Debuts Three New Retailers 

CityPlace Doral welcomes Escapology, OAKBERRY and Petricor.

Read More
Escapology, OAKBERRY, and Petricor have recently opened at CityPlace Doral.
The Best States for a Fresh Start in The U.S.

Cost of living, job opportunities, and quality of life impacted Florida’s ranking.

Read More
Cost of living, job opportunities, and quality of life impacted Florida's ranking.
Other Posts
Back at the Helm: Let’s Do This!

What’s old is new again.

Read More
Gary Press
Fiorucci Joins Winterfest for Joyful Holiday Celebration

Celebrate the event with family and friends.

Read More
Winterfest
Editor’s Letter: Seasonal Relief Is On the Way

The rebirth of Pier Sixty-Six Resort and Marina will pay dividends to the local economy.

Read More
Kevin Gale
David Posnack Jewish Community Center and Sam Berman Charitable Foundation Partner to Launch Overlap Program

The two-year initiative aims to combat hate and discover common ground through culture and community.

Read More
Jewish Community Center