All the talk in the media is of Bitcoins rise and fall in value. There never appears to be much talk of how it is used outside of being purely cryptocurrency investing. Although this is how most people view it, many people are using BTC as their choice of currency for individual purchases.
Property is one where BTC is being exploited, and through some real-estate agents accepting BTC as a purchase method.
Homes can be bought using this digital cash. Although not all agents allow this, here are four places where it is possible to purchase a home using cryptocurrencies.
Buying Real Estate with Cryptocurrency
When it comes to cryptocurrencies, Indonesia might be one of the last places you would think of. This is another area where a significant proportion of people don’t understand how beneficial cryptocurrencies can be.
In countries such as Indonesia, cryptocurrencies allow businesses to flourish without having direct access to a secure banking system.
Such is the uptake of cryptocurrencies in what are still deemed as third-world countries. Bali was actually one of the first locations where BTC was used to purchase a home.
This country is a prime example where any would be real-estate investor would be put off due to red tape which would slow down a purchase, this could actually delay into months and might even come with much higher costs for paperwork to be completed.
There is no doubt that cryptocurrencies are here to stay and as one of the largest financial centers in the world. New York is keen to see the uptake of cryptocurrencies as a future.
Real estate generates enormous amounts of purchases and sales, so transactions require something as secure as cryptocurrencies and smart contracts to perform these transactions with ease.
The Big Apple has never been afraid of taking risks. And with the acceptance of BTC against property purchases, there are many real estate investment trusts who are using it as a way of diversifying their investments.
This is one city where it is easy to see the influx of interest which is shifting toward cryptocurrencies for purchases of this nature. Like the city that never sleeps, neither do cryptocurrencies.
This is another location where developers are aiming to make use of BTC as a currency of choice when selling the property. In Dubai, the prospective residents can use BTC as their payment method. While some are already sold an investor can take advantage of the rise in BTC’s value when they wish to purchase.
This could have an impact how much they pay, and it is done without much of the red tape or delays which follow more conventional ways of purchasing homes.
From an investor’s point of view and especially in Dubai, some of the current properties have been set-aside as BTC purchases only.
Investors from both sides have choices which they can now make quicker and more efficiently using cryptocurrencies and the blockchain.
In this region, BTC has been a part of real-estate transactions the longest from anywhere. Miami is especially popular and is seen as a secure enough location with plenty of interest in properties which are for sale there.
Before anyone who wished to purchase a home in Florida would have to go through many channels to complete the transaction.
Now if there is any interest in the property, this can be from any location around the globe. Buyers and investors no longer have to be in the same geographic region and be worried of delays.
With anonymity and the knowledge, their transaction has been conducted in the safest way possible. Interest in using BTC for homes in Miami are coming from all around the globe.
Why Property and Bitcoin Work Together?
Bitcoin is perfect for more significant purchases of this nature. And with the way it works, it gives protection to both parties involved.
Although there is still a risk of uncertainty in the cryptocurrency market. Investors and agents are willing to tie up the cryptocurrency with tangible assets.
They have reached out from crypto being used purely as an investment medium and are utilizing the cryptocurrency as a means of quickly making sales or purchases which could otherwise not be made.
The super cryptocurrency rich want to see some benefit for their insight when they invested. Homes in any of the above regions will safeguard their investment as they have diversified.
If future investments are made of the same nature, it will appear they are purchasing real-estate which in effect has cost them nothing.