Can you buy real estate with Cryptocurrency?

0
158

In this present world of digitalization every single thing has been digitized, whether it is related to our lifestyles, our professions, our mode of monetary transactions, properties or even currencies have also become digitized. When you can utilize your money digitally, it is called Cryptocurrency. There are several types of Cryptocurrencies available in the market with different values. Such as, Bitcoin, Eutherum or Ether, Litecoin etc. If you want, you can learn to trade them and especially the most popular cryptocurrency – Bitcoin from the website Bitcoin Power. You can use these Cryptocurrencies both online and offline tradings via CFD Cryptocurrency account. 

Investing in Cryptocurrencies is considered to be a smarter investment these days as Elon Musk tweets on Cryptocurrencies have fueled the market value of the digital currencies really upwards, especially for Bitcoin and Euthereum. Not just business exchanges or tradings, nowadays you can utilize your Cryptocurrencies for buying a lot of surprising things too. From morning coffee to your goodnight’s sleep, every single thing can be availed by using Cryptocurrencies in exchange.

Cryptocurrency

Like so many other things you can also buy real estate assets with your Cryptocurrencies. Yes! It is possible. Still have doubts!? Come on, let’s enlighten your queries and check how it works.

The development of Cryptocurrencies and Blockchain is one of the greatest empowerment of advanced technologies in the last few years. The sphere of the uses of Cryptocurrencies has widened so much that people can buy or sell personal real estate properties with Cryptocurrencies. Such an example was placed for the first time in 2017 in Austin, Texas when a residential property was sold with the exchange of Bitcoin. Later the fiat currencies were also involved in that deal as the seller wanted the buyer to make the payment by converting the BTC to U.S dollars to complete the exchanging procedure. However, that was the first time Cryptocurrency transactions for buying real estate.

Though the process sounds a bit complicated, it is really not. There is one prior principle that must be fulfilled that both the parties, seller and buyer should be agreed to perform the deal by using Cryptocurrencies. Additionally, the transaction process must be mentioned clearly in the real estate purchase agreement. So that there won’t be any confusion with the real market value of the property in the future. Moreover, both parties must hold Cryptocurrency accounts. Only then a proper transaction can be done.

When flat currencies are not suitable to deal with the trade market’s ups and downs, the flexibility of Cryptocurrencies can help you to utilize them according to your requirements. The only thing in need is both the parties agreement on using virtual currencies to make business deals.

When you buy or sell real estate properties with Cryptocurrencies, the real value of the property can’t be allowed to disclose to anyone. Only the dealers would be knowledgeable for the same. The traditional currency value for the property would be calculated by the present value of each Cryptocurrency. Such as, if a single Bitcoin value is equal to $3500, it will be multiplied to your total Bitcoin wallet balance when you encash them to real money! If any seller wants to convert his or her Cryptocurrencies to traditional currencies, he or she requires to take the help of BitPay service that us like other digital payment applications.

Most of the real estate property deals are made using Ethereum that is the same as Bitcoin as Bitcoin is not reversible and no real estate property can be exchanged by mortgage transaction. Though Cryptocurrency deals are possible for buying real estate properties yet there lie risk factors too. As Cryptocurrency values are totally dependent on trade market ups and downs, so there is no stability and guarantee of gaining the same return as what you have invested for. You must play safely in such games like you should convert your Cryptocurrency immediately when you observe the better market value of your investment on Cryptocurrency. It is suggested not to be involved in such an exchange without gaining enough experience, otherwise be ready to experience losses, however the last words were just to aware you not to discourage.

Hope, the above discussion will provide you the required information for real estate property deals with Cryptocurrencies.



LEAVE A REPLY

Please enter your comment!
Please enter your name here