HomeBitcoinArgentina records the first rental agreement paid with Bitcoin.

Argentina records the first rental agreement paid with Bitcoin.

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Argentina has made one of its first rental agreements using bitcoin. This was possible after the president, Javier Milei, issued an emergency order allowing this type of payment. The agreement says the tenant has to pay the landlord $100 worth of bitcoin every month.

Argentina is beginning to use Bitcoin for lease agreements.

Argentina has taken a big step in using cryptocurrencies by making one of the first agreements that involves paying with bitcoin. La first contract for leasing with payment in Bitcoin was signed recently in Rosario City, as reported by La Capital, a local Argentine news outlet.

The agreement says the tenant will pay $100 worth of Bitcoin to the landlord every month. They will use Fiwind, a cryptocurrency exchange, to figure out the price of Bitcoin for these payments. The agreement says the tenant has to pay the landlord by the 5th of each month to an address the landlord gives them.

Local sources say that this is the first time a lease agreement has been made using bitcoin, even though real estate has been sold using bitcoin before.

Diana Mondino, the Minister of Foreign Affairs of Argentina, said that because of President Javier Milei’s new order, people can now use bitcoin or other cryptocurrencies to pay for their rent instead of regular money.

The courts will review the executive order that allows these agreements. Some parts of the order have already been stopped temporarily until the courts make a final decision on whether the order is legal. In simpler words, the emergency decision made by the president can be canceled if both the Senate and the House of Representatives disagree with it.

However, the executive order allows tenants and landlords to sign a lease using bitcoin instead of the struggling Argentine peso.

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