Coinbase Plans to Enable Bitcoin Real Estate Buys. Will It Succeed?

In April 2023, in a U.S. first for cryptocurrency, Coinbase enabled bitcoin purchases of Texas real estate.

In June 2023, real estate in other “select states” will be available.

The company behind the integration is a startup named MyEListing. Based in Cedar Park near Austin, Texas, it’s a free-to-use marketplace for investors. MyEListing displays both listings and data, along the lines of the Zillow or Redfin websites.

Both residential and commercial properties are listed on its website, and its new tool on the U.S. cryptocurrency exchange Coinbase will enable people to buy real estate with bitcoin.

ASAP Real Estate: Same-Day Service

The MyEListing-Coinbase collaboration has resulted in ASAP — Accelerated Sale and Purchase. A press release for the launch says real estate agents, or brokers, or sellers themselves, can use the platform to post their listings on MyEListing’s worldwide market.

Buyers search and select Accelerated Sale and Purchase (“ASAP”) properties without currency exchange needs slowing the process down. This is a step forward in real estate, in which international deals are so complicated that only an elite group can afford to make them happen.

Another step forward is the promised time savings. MyEListing says transaction times could be 50X faster than today’s averages. The entire purchase process can be compressed into just one business day.

Once a buyer selects “Buy Now” on one of the platform’s listings, they can actually buy it now. The platform opens a 30-minute window for the buyer to submit the purchase price. And the transaction is done. Through Coinbase, buyers can use bitcoin or dollars to purchase homes. Sellers can opt to receive their payment in either form they choose, too. In short, runs the listings, and Coinbase converts bitcoin from the buyer into cash for the seller if desired.

Homeowners can directly sell to MyEListing. Buyers who have bitcoin burning holes in their pockets can view the listings online now. If they’re outside of Texas, they’ll see the tool make its debut on Coinbase Commerce this June.

What Parts of a Deed Transfer Can MyEListing Handle?

The platform can pre-clear a title. To do this, it draws on the expertise of two title companies — Millennial Title and Championship Title — to handle the title work.

The listing platform enables a seller to sign a preliminary contract to list the property. Once the transaction is ready to close, the necessary documents can be signed by all involved via Zoom.

One big question mark is how federal regulations could impact this new product. Coinbase is currently wrangling with the U.S. Securities and Exchange Commission, insisting the agency “simply has not been fair or reasonable when it comes to its engagement on digital assets.”

As for the new integration itself, it will be interesting to watch how these all-cash (or all-bitcoin) purchases play out, given the lack of focus on inspections and due diligence that a mortgage company would carry out for traditionally financed properties. Clearly, there is still a substantial amount of sophistication a buyer will need to have in order to use a platform like this. We expect to learn more once real-life stories come out.

Meanwhile, it’s difficult not to be impressed by the confidence of MyEListing CEO Caleb Richter, who is keen to “drive innovation in the crypto and real estate industries.”

Important note: Always carry out your due diligence before investing or acting based on news or press releases about a company or its services. We explore and provide information about the intersection of real estate and the digital world for informational value only. receives no compensation from any companies mentioned in this article. Thank you for allowing us to share our journey into blockchain and real estate with you!

Supporting References

BtcCasey for Bitcoin Magazine® (co-founded by Vitalik Buterin, creator of Ethereum, and part of BTC Media LLC): United States’ First Bitcoin Real Estate Marketplace Launches Through Coinbase Integration (Apr. 20, 2023).

Press Release via Fintech Finance News: MyEListing, With Help from Coinbase Commerce, Creates the World’s First Place to Buy and Sell US Real Estate With Crypto (Apr. 20, 2023).

And as linked.

Photo credit: RDNE Stock Project, via Pexels.