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Bitcoin and Cryptocurrencies in the Real Estate Market

Despite the great public debate that revolves around the value of cryptocurrencies and their permanence in the future, the real estate market is getting closer and closer to this new current framework, where transactions are also carried out with the use of digital currencies, especially with bitcoin. In fact, in some real estate portals there are already owners who accept bitcoin as a form of payment.

The great revaluation that bitcoin experienced at the end of 2017 caused many users to start buying bitcoins, although after this great rebound the most famous cryptocurrency suffered a significant devaluation, losing 20% ​​and standing around €7,500 where remains with some fluctuations up and down.

 

Cryptocurrencies make their way into the real estate sector
Digitization, along with new technologies, has brought about new ways of doing business. A clear example of this new scenario that digitization offers is the use of cryptocurrencies when carrying out all kinds of transactions safely. The application of new technologies in the real estate sector is not something new, and it is that selling or buying a house with bitcoins is just one more way to take advantage of the new opportunities offered by the digital age .

Although most countries have not established a legal framework that is responsible for regulating the use of digital currencies, the rapid rate at which some of these currencies are growing, gaining ground in different markets, has caused some governments to take measures in this regard. .

In Countries where the legislation admits digital currencies as a legal form of payment this  can be done.

Top 5 countries to buy International Real Estate with crypto

  • Montenegro
  • A number of countries in Central America
  • Turkey
  •  Ivory Coast
  • Georgia

How to buy a house with bitcoins
Buying a house with bitcoins, the most popular cryptocurrency or digital currency, is possible if we follow certain steps and if the purchase is recorded in euros. This type of transaction is carried out in the same way as the common purchase of a home, although we have to make a previous step: buyer and seller must exchange bitcoins for euros.

Thus, since it is a digital currency, the buyer can transfer the bitcoins to the seller through his mobile or one of the digital platforms for the sale of cryptocurrencies. Afterwards, the seller certifies that the transfer has been made with the established cost and, finally, the deed is closed with the equivalent amount in euros.

The risk-bearing party in accepting bitcoins is the seller, especially if the highly volatile currency goes down from the sale. Otherwise, that is, if you obtain profits from the revaluation of the cryptocurrency, you would have to pay the corresponding taxes according to the profit reported when selling the bitcoins and transforming them into euros.

Although there are opinions in different directions, everything indicates that bitcoin is consolidating, but there is still time for it to be integrated into all sectors. This is an interesting opportunity for the real estate market, as long as we know how the sale of real estate with bitcoins works. In this way, we can take advantage of a bargain or even buy the house of our dreams.

And would you dare to buy or sell a house with bitcoins? Is a Big Question whose Answer will come in coming years..

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