11 reasons to chooce npsbank for high risk businesses
B2B Vault Episode 40: Cryptocurrency & Real Estate

Written by Allen Kopelman

January 7, 2022

merchant statement analysis

Video Transcription

Hello everybody. Welcome to the B2B Vault – The Payment Technology Podcast. Today. We’re going to talk about cryptocurrency and real estate. So I’ve got quite a few phone calls about this. Oh, can we take cryptocurrency for real estate? So let’s dive into it. Cryptocurrency is going to help drive luxury real estate sales in 2022.

Suppose you’re a forward-thinking realtor, and you work with a forward-thinking title company or attorney who handles the escrow for your purchases. In that case, you need to look into our cryptocurrency program. With the new IRS rules for virtual currency, the IRS will impose taxes on anyone who transacts or receives cryptocurrency. With our program, the MPS solution for crypto to dollars. You do not take possession of any cryptocurrency. The cryptocurrency is converted to us dollars during the transaction and then deposited into your bank account in 48 hours. So one thing that we have an advantage over most companies is that many companies have limits on transaction size. We have no limit on our transaction size, so there’s no limit like, oh, the transaction size from 2,500 or $10,000. Otherwise, there’s additional KYC. We do not have any restrictions on transaction size. So here’s an example. Real estate transaction, a buyer is US-based or international. Let’s say they want to buy whatever. It doesn’t matter. It could be a $300,000 home. It could be a $5 million condo in Miami. It could be just putting down a down payment of 50,000 or a hundred thousand dollars, and they want to use crypto. So the owner says, oh, I want to use Bitcoin. No problem. Then, a title company or attorney sends an invoice to the buyer. They can click the button in our invoicing software, which adds a small fee. So now you’re receiving, so let’s say you need to receive whatever it is. 50,500,000 or 5 million. You can add the fee so that you’re getting the whole amount of the money. The other thing is we guarantee that there’s no volatility in the transaction.

You’re asking them for $500,000, and we’re converting that into how much crypto they need. And that way, on the other side, you are receiving your specific amount of money that you requested somebody today was asking me about this. And I was telling them that when you go read the contracts from some of the other providers doing this, there are additional fees, but we’ll get into that in a little bit. So you’re, we’re guaranteeing, you’re going to receive the funds that you requested. You want 50 grand, you’re getting 50 grain, well, 5 million, you’re getting 5 million. So this crypto’s converted into cash, condo or homeowners can get their old mortgage paid off because now they have the cash in their bank account. They can pay off their mortgage. The bank’s not taking. I mean, maybe there’s one. I don’t even know if there’s a specific bank out there that would even accept to take Bitcoin from somebody they’re going to take. They want their cash. The buyer can pay the crypto fees. The current condo owner title company doesn’t have to incur any fees. There’s no need to sell crypto. When you go self, you know you take possession of crypto, and then later you want to sell it. You can pay anywhere from a six to an 8% fee. Plus, depending on who you’re selling it with, there can be other fees, too, because not every company guarantees volatility. If you read in the fine print about things like gas fees and a gas fee, basically is when crypto is going up and down, there could be your 50 grand might not be 50 grand. On the other side, it could be $49,300. And $700 is lost inside the transaction and in a gas fee, or there could be a mining fee. So we don’t have any of those fees.

Our program has a flat fee, so you don’t need to know how to use crypto. You don’t need to know how to buy, sell, trade. You don’t need to understand crypto. We make it very simple. It’s just like getting an ACH is like getting a wire. It’s much cheaper if you’re doing an international transaction because there are no wire fees. There’s no cost. A lot of times, you have an incoming wire fee. You sometimes have a currency conversion fee when you have an incoming transaction. So I know, like I did a business deal with somebody in Canada, and I got shorted out about 300 bucks between the wire fee. I had to call the person on the phone and go, listen, you got to pay us the other $300. We lost the wire fee, the international fee, and the currency conversion of $300. So when you’re talking about, and that was a small transaction, about 10,000 bucks. So you’re talking about doing large, large transactions. You don’t want to incur gas fees, mining fees, or transfer fees that could be going on with doing a large transaction of cryptocurrency. The cryptocurrency market is huge with the millennials, Gen Z, and international buyers. They want to use that because this is the currency that they’re using. A lot of people that are out of the US take their money. They put it into Bitcoin, like Hawaiian or Bitcoin cash and Ethereum. The reason that they do that is that the currency in their countries is very volatile. And with Bitcoin, we’re giving you no volatility in the market. We’re guaranteeing you want 50 grand. You’re going to get 50 grand. Okay. So we’re eliminating. So when there’s a, you know, and I’ve seen days where Bitcoin is going up and down 10, 15, there was one day where it went like 30% swing. Okay. And on a day like that, if you were doing a transaction and you were working with a company that had gas fees and mining fees, oh, you don’t know, you could lose 10 to 30% of the dollar value on the other side coming out. So we don’t do that. We, we basically, know how to do this. The coin is traded right there and sold on the spot when doing a transaction. When sold because it has to go through five to six blockchains. It’s sold right on top of trading networks. And that’s how we’re able to accomplish the transaction so fast. And then that way, there’s no volatility because the transaction is taking place very quickly. Okay. There are tons of crypto millionaires out there. They’re looking for ways to spend their money. It’s a multi-billion dollar market. A huge percentage of the population owns cryptocurrency with our technology. We can meet the market demands because we have technology that can have no transaction size when there are no extra fees. There are no hidden fees with the whole thing. And funds are deposited to your account within 48 hours. So obviously if somebody is selling a home, you know, usually you wire money, you know, you wiring money, so you don’t need to wire any money, but it has to be done a few days in advance so that the escrow company has the funds.

So, you know, you have to plan like, okay, it’s business days, two to three days in advance, get the transaction rolling. Or even before that, you can use it to sell a property, take a down payment, collect rent. If you’re forward-thinking that a company that wants to do business with a demographic of people is using cryptocurrency, come to our website, NPS bank.com/cryptocurrency. You can sign up, and we’ll get you through the process. We can show you how to use them. We’ll show you how to use the portal. We can show you how to put it on a website. There are all kinds of ways. There are three over 300 million crypto users worldwide in the United States and Canada. It’s 28 million people and Europe, and it’s 38 million people, Africa, 32 million south America, 24 million Australia, 1 million Asia, 160 million. Suppose you’re doing international real estate transactions, people from out of the country. In that case, there are tons of people coming from Asia, Europe, South America, and the US. Crypto transactions are a safe way to do a real estate transaction or any business transaction with those people. So we’re now we’re. So that’s our, today. That’s the podcast about cryptocurrency and real estate. If you have any questions, you have questions about cryptocurrency. I’ve done quite a few podcasts about cryptocurrency. Answered questions about cryptocurrency. Gone over different types of businesses and how they can use cryptocurrency in their business. We’ve got quite a few people asking us about real estate. So we did this one about real estate. So hope everyone enjoys it. Follow up B2B vault on YouTube for the videos, follow us on all your favorite podcast networks, apple, Google. We just got on Amazon music, Spotify. We’re on tons of ones I’d never even heard of before. That’s kind of cool. So we’re getting a lot of listeners and also check out our social media, Facebook and Twitter, LinkedIn, and follow us. B2B vault & NPS bank. We have a contest going on right now where you can win an apple watch. You can see the posts on our social media profiles, and have a great day. We’ll put, I put the link at the bottom of the podcast posts. So everybody has a great day, Carpe Diem from B2B Vault.

Merchant Statement Analysis | Merchant Services Statement Analysis


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