How much cryptocurrency do you need to buy an Australian house?
Cryptocurrency is big news at the moment, but how much would it take to convert your digital funds into bricks and mortar?
According to the most recent CoreLogic figures, Australian house prices have seriously come off the boil. Median prices across Australia's capitals fell 0.5% over the final quarter of 2017.
But while the property market might be cooling, cryptocurrencies are red hot. Digital currencies like TRON, IoT Chain and Ripple have had incredible runs in recent days. With price increases of 100% or more in 24-hour periods for some cryptocurrencies, it's easy to get caught up in the excitement.
So what to do if you're cryptocurrency rich but house poor? Or if fiat currencies suddenly collapse and property vendors only accept Dogecoin? Fortunately, we've put together a handy list to help you figure out your buying power in the inevitable crypto-future.
All prices* are courtesy of CoinSpot. A word of warning: Cryptocurrencies are incredibly volatile. That means that the table below will be accurate for, say, 10 minutes or so before one of the currencies either skyrockets or has a precipitous crash.
*Note: Prices were accurate as of 3pm, 4 January 2018.
Home Loan OffersImportant Information*
Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.
Up to $4,000 refinance cashback. A competitive variable rate loan from St.George. Refinancers borrowing $250,000 or more can get up $4,000 cashback for their first application (Other terms, conditions and exclusions apply).
A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.
Take advantage of a low-fee mortgage with a special interest rate of just 2.49% p.a. and a 2.49% p.a. comparison rate.
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