First Live Property Auction Using Bitcoin and Binance Coin

Binance to Support the First Live Property Auction involving Crypto

“Cryptocurrency exchange Binance is partnering with real estate auctioneer James Pratt Auctions (JPA) to launch a live property auction using bitcoin and Binance Coin (BNB).”
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By Block Society

on 8 April 2019, the first live property auction using bitcoin and BNB will be live. This auction is the first of its kind and follows after the partnership of Binance, JPA, and the NuYen exchange. The CEO of James Pratt Auctions (JPA) stated the company is “excited to embrace cryptocurrency.” Opening up the auction for buyers to use crypt currency not only gives the consumer a new option, but it also opens the door for a new type of investor. It is important to note this is not the first property purchased by crypto currency, but it will be the first live auction of it’s kind.

The property that is being auctioned is located in Casuarina, New South Wales and has been given the nickname “The Jetsons” due to it’s futuristic” look. The starting price for this luxury home has not been announced, but the property in the surrounding suburb sell for an average of 1.16 million Australian dollars (roughly $831,000 USD). The auction was announced by Sydney-based JPA in an Instagram post on March 7, and it will take place at 11am (AEST) on Monday, 8 April 2019.

The inclusion of BNB to this auction is significant and will potentially serve as a catalyst to the coin becoming a more widely accepted payment option.

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