UWM accepts Payments in Bitcoin

by baaaawz

It’s great news for the Bitcoin community again: UWM accepts payments in Bitcoin by the end of 2021. Clearly, Bitcoin will be the leader, followed by its younger siblings.

United Wholesale Mortgage accepts Payments in Bitcoin

A company conference call was held on Aug. 16, 2021, in which Mat Ishbia announced the company would be accepting cryptocurrency.

As a first step, United Wholesale Mortgage accepts payments in Bitcoin and then opens access to Ether and other altcoins, ahead of its competitors:

We will walk before we run. But at the same time, we are definitely a leader in technology and innovation, and we are always trying to be the best and lead in everything we do.

Bitcoin for Real Estate Payments

With its size and scale, UWM could significantly influence the adoption of cryptocurrencies. According to the company, $59.2 billion in closed mortgages were recorded in the second quarter, an increase from $49.1 billion in the previous quarter. Nevertheless, due to tightening margins within the sector, the overall profit margins fell from 2.19% to 0.81%.

While UWM is still one of the pioneers in the use of Bitcoin for real estate payments, the first real estate purchase using Bitcoins was made seven years ago. The Lake Tahoe property was purchased in August 2014 for a sum of $1.6 million in Bitcoin through BitPay.

Recent reports state that Toronto-based mortgage broker Matrix Mortgage Global announced in April that it would accept payments in Bitcoin Cash (BCH) as well as Stablecoin for its services through Bitpay.

More People use Bitcoin for Real Estate Purchases

It is no secret that cryptocurrency and blockchain technologies are slowly gaining traction in the real estate industry. There is no doubt that in the future, everyone will be able to use Bitcoin for real estate purchases.

In addition, it is possible to calculate mortgage payments with UWM’s plan and use securities token offerings (STOs) to make real estate investing affordable for people of all incomes.

With the growing cryptocurrency market, investors plan to make a big bet on real estate this year. Recently, NYDIG (New York Digital Investment Group) conducted a survey that discovered 46 million Americans own Bitcoin, which is 22% of all adults.

76% of these individuals are worried about the safety of their digital assets, according to the study. Approximately the same proportion expressed concerns about market size and liquidity, followed by 71% regarding the regulatory environment.

Who controls Bitcoin?

An anonymous person (or group of individuals) created Bitcoin under the alias Satoshi Nakamoto. The decentralization of Bitcoin is affected by the fact that the identity of this person (or group of people) is unknown. It is the users and contributors that make Bitcoin evolve at the pace that it does.

There are many benefits to decentralization, as one of them is that it creates a network that is resistant to capture and censorship. No government can pass a law to impose punishment on the Bitcoin CEO. It has no CEO (chief executive officer).

He cannot be blackmailed into changing the network in a way that brings advantages to one or another group. The reason for this is that Bitcoin is not governed by any central authority.

Can Bitcoin be controlled by Miners?

It is important to note that there may be groups within the Bitcoin network that are interested in different things. A higher block size would be very appealing for miners, as it would be able to make their work more productive. Miners would be able to accumulate more transactions and receive a higher transaction fee when they find a block if this were to be implemented.

On the other hand, node operators would see the load of the blockchain increase at a much faster rate, forcing them to invest substantially more money in both hardware and bandwidth in order to maintain their nodes.

Is Bitcoin controlled by Software Developers?

Software developers, for example, have the right to change any line of code within their software. It is, however, important to understand that nothing forces miners or node operators to accept the proposed changes. For example, if the block size is unilaterally increased by miners, then for node operators who do not accept the change, the new larger blocks will simply be invalid and rejected.

In the end, neither one of these groups has any real claim to control Bitcoin. There is no one controlling Bitcoin, and that is what makes it so unique.

What if a Government banned Bitcoin?

The Office of the Comptroller of the Currency announced on July 22, 2020 that banks in the United States would now be able to act as cryptocurrency depositories. As long as this slow progress continues, maybe there will be a tipping point at some point in the future.

Considering that the development and commercialization of bitcoin-based products and services will be facilitated by commercial banks, imposing a ban on Bitcoin will be limited to a short window of time.

The fact is, regardless of a government’s decision, Bitcoin does not need to ask anyone’s permission to operate. A ban on Bitcoin simply encourages entrepreneurs and users to relocate their operations to more bitcoin-friendly jurisdictions, so that they can continue to benefit from it.

This is yet another reason to get into cryptocurrencies such as Bitcoin. Our Bitcoin 101 Guides will help you learn all about Bitcoin. You can also buy Bitcoin on Binance with a credit card.

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