Sometimes it seems the whole world is trying to bring Bitcoin down. Bad news has caused a downward trend. To change this, the Bitcoin world should start putting focus on positive things. In all the negativity Bitcoin witnessed in the past months, one country stood…
Sometimes it seems the whole world is trying to bring Bitcoin down. Bad news has caused a downward trend. To change this, the Bitcoin world should start putting focus on positive things. In all the negativity Bitcoin witnessed in the past months, one country stood out with lots of good news coming from it. Today, our friends down under bring us another Bitcoin first for their country.
Forsyth Real Estate, one of Australia’s most successful and respected real estate agencies, has announced it will be the first Australian real estate agency to accept Bitcoin. Based in Sydney’s North Shore, the follow the example of the Bond New York Real Estate Brokerage Firm. This company, specializing in residential rentals and sales as well as commercial leasing, also announced it will accept the cryptocurrency as a method of payment.
According to Forsyth Real Estate’s profile: “In 1898, Robert Todd Forsyth, a young real estate agent, opened a humble wooden office in Willoughby. Seeing a tremendous need for honest, knowledgeable real estate people, Forsyth founded his company with a revolutionary philosophy: the client’s best interest above all. Over the last 100 years, Forsyths has forged a tradition of integrity, exceptional service and customer satisfaction that has become the agency’s hallmark.”
The move to accept Bitcoin certainly proves the agency wants to provide its customers with exceptional service. James Snodgrass, Forsyth Managing Director, said: “Prior to launching, we had discussions with our financial division who outlined the risks and opportunities of Bitcoin, and we were happy with our findings.”
In order to make this possible, Forsyth decided to partner up with Melbourne-based Bitcoin payment provider CoinJar. “When customers choose to pay with Bitcoin – transactions go through CoinJar’s payment gateway. CoinJar accepts Bitcoin deposits and pays the agency in Australian Dollar, taking a transaction fee of 0.5 percent. However, transactions made in Bitcoins still include Goods and Services Tax (GST).” Added Snodgrass.
Forsyth is another Australian-based business that decided to take advantage of the new opportunities provided by the cryptocurrency. Just like other Aussie companies such as The Old Fitzroy Bar and Seagull Photography have been doing.
In the past month, we reported on an Australian Bitcoin platform going global and an Australian energy company that was turned into a Bitcoin enterprise. The country will also be receiving hundred Bitcoin ATM’s. It’s clear the Australian industry has seen benefits in the Bitcoin protocol.
The government’s stance towards Bitcoin allows the industry to accept and experiment with virtual currencies. Bitcoin has not been officially banned by the Australian authorities. However, the virtual coin is subject to taxation similar to another currency. “It’s interesting, it’s a novelty, but it’s really just a new medium of exchange and similar to any kind of currency.” Indicated the Australian Taxation Office.
“We stand behind our 115 year philosophy ‘client’s best interest above all’ and will continue to offer our clients innovative options in this ever evolving world,” Said Snodgrass. Accepting Bitcoins as a method of payment is a clear indication that Forsyth truly stands behind their philosophy. Thumbs up for them and Australia!
Last modified: January 10, 2020 2:03 PM UTC