If you hold Bitcoin and want Miami real estate, the usual problem is timing. You may not want to sell crypto to raise cash, trigger taxes, or exit a position you still believe in. The Rider in Wynwood is built around a different approach: a clear path to purchase using either crypto-backed financing or a crypto-to-USD closing process, depending on what fits your goals.
This post breaks down the options using the Rider’s workflow materials, so you can understand how it works before you start looking at units.
The big idea: own the property, keep the Bitcoin
The Rider is positioned for crypto buyers who want to purchase without liquidating crypto. There are two ways this can happen:
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Crypto-backed financing through Milo, where you pledge crypto as collateral and Milo provides USD funds to escrow.
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Crypto conversion at closing through Propy, where crypto is verified, transferred, and converted to USD through Coinbase Prime as part of the closing process.
Both routes aim for the same outcome: a normal real estate closing, without forcing you to sell Bitcoin early.
Option 1: Crypto-backed financing through Milo (buy without liquidating crypto)
Milo’s workflow is designed for buyers who want a loan or mortgage backed by crypto. Instead of selling Bitcoin to fund the purchase, you pledge crypto and the lender sends USD funds to escrow.
What Milo is emphasizing in the Rider workflow
Fully compliant: Loans and mortgages are backed by regulated custodians such as Coinbase or BitGo, supporting U.S. standards.
Flexible options: You can choose a Crypto Mortgage, Crypto Loan, or Investment Mortgage.
Secure custody: Assets are held in institutional-grade custody with Coinbase or BitGo.
Transparent terms: You see LTV ratios, collateral requirements, and rates before moving forward.
The Milo process (simple step-by-step)
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You choose a financing option.
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You pledge crypto to custody, typically Coinbase or BitGo, or use self-custody in certain investment cases.
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Milo confirms terms, including rates, LTV, and collateral verification.
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Milo provides USD loan or mortgage funds to escrow for the purchase.
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You close on your Rider residence without liquidating crypto assets.
This route is for buyers who want to keep their crypto position intact while still moving forward on a real estate purchase.
Milo financing options at The Rider
Milo outlines three product paths: Crypto Mortgage, Crypto Loan, and Investment Mortgage.
Crypto Mortgage
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Rates: 8% to 10%
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LTV: up to 100%
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Collateral: equal to the property value
This is the closest structure to a mortgage, but supported by crypto collateral.
Crypto Loan
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Rates: 10.75%+ (12.75% APR)
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LTV: based on 2x collateral
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Collateral: 2x loan amount
This option is more loan-style and collateral-heavy. In Rider materials, it is positioned for buyers who want a direct loan structure.
Investment Mortgage
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Rates: 7% to 8%
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LTV: up to 70%
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Collateral: for qualification only
This option looks more like standard investment lending while still treating crypto as part of the qualification picture.
Important: rates and terms move with markets. Treat these as reference points, then verify what applies to your situation.
Option 2: Crypto-to-USD closing through Propy (crypto transfer, USD closing)
If you want to purchase using crypto as the source of funds, Propy lays out a structured closing process that moves crypto into escrow and converts it to USD at closing through Coinbase Prime. This is designed for buyers who want a defined path with clear steps and receipts.
Propy closing process
1) Buyer verification
You complete KYC, proof of funds, and a declaration of wealth with support from the Propy team.
2) Test transaction and EMD
You send a small test transaction to Propy’s Coinbase Prime escrow to confirm your wallet, then transfer your earnest money deposit. If you are making multiple deposits, a test is done for each.
3) Title and insurance
Propy’s licensed title and escrow team manages title work, insurance, and closing documentation.
4) Crypto conversion to USD
At closing, Propy converts crypto to USD via Coinbase Prime. Fees and timing are disclosed up front.
5) Settlement and payout
Propy disburses funds to all parties. You receive real-time confirmations and digital receipts through the platform.
Accepted crypto
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BTC, ETH, USDC, USDT, XRP
Fees shown in the Propy materials
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Base fee: $1,000
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Variable fee:
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$0 to $100K: $2.00 per $1K
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$100K to $500K: $1.75 per $1K
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$500K to $1M: $1.50 per $1K
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$1M to $5M: $1.25 per $1K
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$5M+: $1.00 per $1K
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Conversion fee: 0.20% (20 basis points)
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Conversion fee not applicable for USDC
This route is for buyers who want a crypto-funded purchase with a structured escrow and conversion process.
How to choose the right route for your Rider purchase
Most buyers decide based on one thing: whether they want to borrow against crypto or spend crypto.
If you want to avoid selling Bitcoin and still preserve liquidity, the Milo financing route can fit. If you want to use crypto as the source of funds and convert at closing, the Propy process is the clearer framework.
Either way, you should ask for the exact steps tied to your unit and your timeline, because pre-construction schedules and deposit deadlines matter.
A good agent will also help you line up the right people early. The Ana Vega Group can help you confirm which route fits your goals and what documentation you will need before you reserve a unit.
A quick note on Rider incentives for crypto buyers
The Rider is also offering deposit incentives that can help reduce your closing costs:
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5% annual return on the first 40% deposit
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6% annual return on deposits above 40%
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Return accrues toward closing costs
This matters because it rewards larger deposits and staying in contract through closing. When paired with a crypto path, it can be appealing for buyers who want to keep assets working while moving into real estate ownership.
FAQ: Buying at The Rider With Bitcoin
Can I buy at The Rider without selling Bitcoin?
Yes. The Rider materials outline a Milo crypto-backed financing path where you pledge crypto as collateral and close with USD funds to escrow, without liquidating crypto.
What is the difference between Milo and Propy?
Milo is a financing path that uses crypto as collateral for a loan or mortgage. Propy is a transaction and escrow process that verifies funds and converts crypto to USD at closing through Coinbase Prime.
Which custodians are referenced for the financing route?
The Rider’s Milo workflow references regulated custodians such as Coinbase or BitGo.
What crypto does Propy accept?
The Propy materials list BTC, ETH, USDC, USDT, and XRP.
Are there fees for converting crypto to USD at closing?
Yes. Propy shows a base fee, a variable fee based on transaction size, and a conversion fee of 0.20%. The conversion fee is not applicable for USDC.
What should I prepare before starting the process?
Expect identity verification, proof of funds, and documentation tied to wallet verification, escrow timing, and collateral requirements. The exact list depends on whether you use financing or a crypto-funded closing.
Work with The Ana Vega Group
If you are considering The Rider and want to purchase with a crypto strategy, you want clarity before you sign anything. The Ana Vega Group can help you compare the Milo financing route and the Propy closing route, confirm incentive details, and keep the process moving with fewer surprises.
Reach out to The Ana Vega Group for current availability, deposit schedules, and a buyer-ready breakdown of the crypto path that fits your plan.
