US based real estate, RealT has experienced massive sales and influx of new clients after it was said to only allow digital assets on its trading platform because of the ban on PayPal. The platform sells properties in the US with a view of allowing investors around the world to take advantage of the opportunity for $50.
RealT Banned By Payment Company PayPal, Turns To Crypto
RealT posted on Twitter that users made purchases as much as 62% of their purchases with PayPal before the payment method was banned. During the year, the tokenized real estate enjoyed more than $800,000 transactions across the world, with the rate of consumer dispute put at $500. Users of the payment methods started complaining about problems with payment before the payment company sent a letter to RealT to explain to them that they have been banned as a result of huge risks involved in transactions.
This is with over $800,000 of total payments made through PayPal. Much risk! So excessive!
Up to this point, 62% of all purchases on RealT were made via PayPal.
— RealT (@RealTPlatform) May 5, 2020
As a result of the subsequent ban, RealT released an official statement on their Twitter account, which said, “This unfortunate event actually resulted in an extremely value-able experiment for us, that really changed the morale of the company, during what would otherwise be a critical event. We were forced into the experiment of “Can a business survive on crypto alone?”
RealT experience Massive Sales In First Week Of Using Crypto Only
After seven days of switching its payment method to a Crypto only method, the real estate company enjoyed about 240% of income as a result of their asset, which was the sixth most popular on Coinbase. Crypto released a statement to show appreciation because they recorded their first-ever 100% sales via crypto. The official blog also mentions how Ethereum made their transactions fast and seamless without wasting time. ” While more payment merchants are always better, the fact that RealT was able to hit ATH in both sales and new user signups, with ONLY crypto as a payment mechanism, is insanely bullish for the crypto-space at large,” the official site said.
Crypto Payments Faster And Easier Than PayPal
Paypal cutting of customers and businesses has been known as the habitual norm of the payment company, with them sending emails to their customers stating categorically that trading of crypto was banned. In 2019, PayPal axed leading porn websites, Pornhub, which made them start to pay their models with digital assets. The company was reported to have joined the Facebook libra project only to drop out of the race Midway.