While you still can't buy a meal at many restaurants with bitcoin, you can now pay your rent with it.
ManageGo, a Brooklyn, New York-based rental platform that offers landlords and tenants payment and maintenance scheduling services through online and mobile applications, is now adding bitcoin to the list. Starting early next year, a tenant can pay in bitcoin through the mobile app.
Here's how it works: The tenant uses bitcoin and then ManageGo converts the bitcoin to dollars using Coinbase, a digital cryptocurrency broker. The landlord gets the rent payment in dollars. Since bitcoin is extremely volatile, the value is locked in at the time of the payment.
There has not been a lot of demand for this service, but executives at ManageGo, which has been around for seven years, say it is only a matter of time.