Cryptocurrency is often described as the currency of the future. But is it really the future of the Thetford property market? Let’s look at whether you can — and whether you should — buy or sell a home using crypto.
What is cryptocurrency?
Cryptocurrencies have been around for years, but with President Trump pledging to make the US the “crypto capital of the planet”, we’ll likely be hearing a lot more about them in 2025.
Put simply, cryptocurrency is a digital form of money. It doesn’t exist as physical notes or coins, and no single organisation (like a bank or government) controls it. Bitcoin is the most famous example, but there are others like Ethereum, Tether and XRP.
Can you buy or sell property with cryptocurrency?
Yes — and it’s already been done. The UK’s first property sale using Bitcoin took place back in 2017, when a detached house in Essex was bought entirely in cryptocurrency.*
A few listings around the world now include prices displayed in Bitcoin or other digital currencies, but the numbers are still tiny.
Is buying or selling a property with cryptocurrency a good idea?
There are a few reasons the idea appeals. Crypto transactions are independent, global and not tied to traditional currencies like the pound. However, there are also several challenges.
The biggest is volatility. Cryptocurrency values can swing dramatically from one day to the next, which makes pricing a property tricky. How many Bitcoins is your Thetford home worth today — and what about tomorrow?
Another issue is finding a buyer or seller willing to transact in crypto. Because the market is so small, it could limit your pool of interested parties — and potentially reduce what your property could achieve on the open market.
Then there’s the question of compliance. Anti-money-laundering regulations, Stamp Duty, and Capital Gains Tax all become more complicated when cryptocurrency is involved. You’d need expert financial and legal advice before even considering it.
In short, while buying or selling a property in crypto is technically possible, it’s probably not a wise move right now. The safest and simplest option remains good, old-fashioned pounds sterling.
If you’re thinking about selling your home in Thetford, we’d be happy to provide a free, no-obligation market appraisal — paid for in pounds, of course. Call or message us today to get started.
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Source: Four-bed Essex house becomes first in UK to be sold in Bitcoin (The Sun, 2017)
Article by Andrew Overman | Partner | Location Location East
