Can You Use Cryptocurrency To Buy Real Estate?

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Source: medium.com

All industries in different global economies view cryptocurrency based on the benefits and challenges it mainly renders. However, if there is a general discussion about the real estate sector, the firm statement that can be drawn is that crypto has benefitted this sector like no other. There are many reasons behind it, and some of them are as follows:

  • Virtual currencies have helped the real estate sector upscale its business operations.
  • More and more investors from around the globe are enhancing their interest in the real estate industry and its related operations.
  • The uprooting interest of people and potential dealers in cryptocurrency is helping the real estate industry to opt for an elaborate growth followed by immense popularity and profitability.
  • Also, the expectation for return rates is higher, followed by a higher degree of liquidity prevailing in the global market.

Overall, the parties involved in real estate are promoting the use of crypto for real estate dealings because it offers transparency, quickness, and ease of business.

So, it can be concluded that investing in properties or buying a house is a surprising trend and is enjoying the limelight for all the right reasons. Turns out many avid crypto investors across the world might not be well-versed with this idea. They might see it as a piece of breaking news. Many countries do allow such transactions.

Source: everestate.com

Rising Blockchain Technology In The Real Estate Industry

2017 followed by 2020 when the world was dealing with the deadly coronavirus outbreak, two years saw a spectacular hike in the demand and price of Bitcoin – the most famous cryptocurrency. Since 2017, it has witnessed massive footfall and has emerged as an excellent source of alternative investment amongst many new and age-old investors in the global investment market.

But, all these currencies are playing better roles by helping make purchases rather than being a piece of investment. What if you come across 100,000 merchants that accept Bitcoin as a valid payment mode? Quite an exciting figure, isn’t it?

Many real estate firms functioning on the global level have started accepting crypto payments, and the maximum transactions, for now, have been between 2017 and 2021. Some famous companies that have kick-started this trend are as follows:

  • International Realty by Kuper Sotheby
  • Title Partners
  • The Pango Group’s Glen Oaks Escrow
  • Lodgis

Also, it will interest you to know that some real estate companies opt for direct dealing while others offer discounted rates for selling and purchasing assets. Also, they deal in various products and services, followed by their transactions in multiple cryptocurrencies. Lodgis helps you buy apartments and rent them in the beautiful city of Paris.

So, there are many things for you to explore in the real estate field because of cryptocurrencies.

Source: blocklr.com

Possibility Of Buying Real Estate With Cryptocurrency

Real estate sales and purchases are possible by making and accepting cryptocurrency payments. All you need to do is find a valid seller or buyer who is up for buying and selling real estate with this kind of currency.

However, there are some points that you need to cater to that are discussed as follows:

  • Buyers should seek a list of the estate listings that accept this payment. Also, you can bifurcate whether the received amount is in Bitcoin or other forms of cryptos, too.
  • Also, it would be helpful if you check whether the seller accepts cryptocurrency for the total value of the property or is dividing and accepting it in parts. If you want a combination of cash or bank transfer and crypto payments, you can discuss the same with the seller. Both parties can mutually decide on the payment percentage of cash and crypto that works for them.
  • It would help if you were well-versed in two ways that will help you use this currency for bagging the best available real estate deal based on your need and requirement. If you are on the buying side, you can choose a direct transfer of the currency to the seller. In some situations, you can also plan to liquidate it in fiat currency and then go for the final payment stage. Discussions for the same should be completed beforehand.
  • Also, you need to check the kind of crypto in which the seller wants the payment. It is essential to be on the same platform; otherwise, using cryptos won’t make any difference to the deal as it won’t be completed.
  • It would be best if you never went for random websites or software to conduct the crypto dealings. Using authentic software to pursue such deals is more than essential. For example, you can consider using the bitcoinprime.software as it is something that both new and experienced traders can use. Also, the dealing is straightforward so that you don’t feel challenged or find yourself in a messy situation.
Source: forbes.com

Advantages Of Buying Real Estate With Cryptocurrency

Now, if you are still confused about whether to go for such a deal or not, here are some points that will help you strengthen your decision.

  • There are high chances you find good deals, discounts, and bargains for using this form of currency for trading.
  • Smart contracts help to enhance the speed of the overall process. You won’t find yourself stuck in any delay or lapse due to intermediaries, as they will be absent in this case.
  • Real estate is an excellent financial asset that pays you off in the future. Using crypto for the real estate purchase payment keeps you off the risk cliff as there is no need to take a loan to fund such an investment.

However, all dealers do not deal with it. Hence, you will be limited with the locations. But, if you can crack the ones who accept such payments, you are good to go.

Source: dreamstime.com

Conclusion

So, the next time you plan to buy a house anytime soon, consider using the cryptocurrencies you have for the transactions. Your dream house is all set to render a different kind of buying experience using a currency that made its entry into the market some years ago only. Hence, your house ought to be a special one, for sure!