> I also would way rather make large purchases with crypto (e.g. down payment on a house)
For a purchase that large, I would rather make it in person. With a check. Which is way more secure than crypto or a wire transfer.
For a purchase that large, I would rather make it in person. With a check. Which is way more secure than crypto or a wire transfer.
Bad checks have other ways of being dealt with through legal means. There's no reason to doubt the check held (and handed over) isn't good.
But everybody is happy with a _cashier's check_. Admittedly you have to go physically get those, which kinda sucks. Or wire the money to the title company instead, which I personally prefer over carrying around a piece of paper worth $75k (or whatever).
Asking because I don't know, and because I suspect it takes longer than I'd like if I'm trying to get my payment in first to secure the item (like I have had to do when buying used cars from private parties.)
It’s incredible to me that you think a piece of paper and human contact is secure.
Both parties have to be present in person and sign the documents in front of a notary that also collect copies of the checks emitted directly by the bank at the moment and write down their id number on the deeds
The security comes from the capacity of the banks to hold or reverse them, and the capacity of the legal system to jail people for check fraud.