Bitcoin is to be accepted as a payment method by a Northern Ireland property developer amid significant growth
Hagan Homes will now be accepting Bitcoin as a payment method, the first firm in the Republic of Ireland to do so.
Jamesy Hagan, the managing director of Hagan Homes, said there is both an increasing international interest in working, living and investing in Northern Ireland, as well as a “significant growth in the use of Bitcoin worldwide.”
He continued: “Our acceptance of this new channel reflects our willingness to respond to the market.”
Hagan has recognised the challenges in accepting Bitcoin as payment commenting: “Of course, there are some risks to using Bitcoin for payment due to the cryptocurrency’s volatility, but buyers and sellers are finding creative ways to deal with these challenges…by incorporating the learning from our peers into our approach we can embrace this innovation.”
Bitcoin payments for properties have already taken place in cities across the US, as well as in the UAE and Indonesia.