How It Works
Solum connects buyers and sellers of real-world assets who want to transact in cryptocurrency. Here is how the process works from start to finish.
1. List or Search
Sellers create a listing with photos, description, and a crypto price (USDT, USDC, BTC, or ETH). Buyers browse the catalog and filter by category, location, price range, or currency.
2. Connect Directly
When a buyer is interested, they contact the seller directly via email or WhatsApp — the method chosen by the seller. All negotiations happen one-on-one. Solum is not involved in communication.
3. Use Escrow to Settle
We strongly recommend using an independent third-party escrow service. The buyer sends crypto to the escrow, the seller delivers the asset, and the escrow releases funds once both parties confirm. This protects both sides.
4. Transfer Ownership (if applicable)
For categories that require government registration — such as real estate and vehicles — the buyer and seller must complete the legal ownership transfer through the appropriate authority (DMV, land registry, notary, etc.) as part of the transaction.
Frequently Asked Questions
Is it legal to buy assets with crypto?
In most US jurisdictions, yes. Cryptocurrency is legal tender for private transactions. However, specific regulations vary by state and asset type. Always consult a local attorney for high-value transactions, especially real estate.
How do I pay with crypto?
Payment happens off-platform. Once you agree on terms with the seller, you send crypto directly to their wallet address. We recommend using an escrow service for any transaction above $1,000.
What if there is a dispute?
Solum does not mediate disputes. All disputes must be resolved between the parties or through the escrow service used. For fraud, report to local law enforcement and the relevant blockchain analytics firm.
Does Solum charge fees?
No. Solum is free to use. There are no listing fees, transaction fees, or commissions. We may introduce optional premium features in the future, but the core platform will remain free.
What about taxes?
Crypto transactions are taxable events in the US. Both buyers and sellers are responsible for reporting gains, losses, and income according to IRS rules. Consult a tax professional.
Can I list from outside the US?
Currently Solum is focused on the US market. International listings may be accepted in the future, but buyer/seller protections and escrow recommendations are designed for US-based transactions.