Understand the advantages of using cryptocurrencies in the real estate market and why the sector is growing.
Have you ever thought about buying a property with cryptocurrencies? The real estate market is also being favored by the great advantages of blockchain and cryptocurrencies because purchases are fast and efficient.
To help, understand how crypto real estate works below. And if you want to use your digital currencies to pay other areas, check out the top trusted cryptocurrency casinos.
The Real Estate Market and Cryptocurrencies
Cryptocurrencies are already part of the consumer’s daily life. Currently it is already possible to use them when buying electronics, software, paying online casinos and other items. More recently, however, it has become possible for consumers to purchase real estate with virtual currencies. The world’s first home purchase with cryptocurrencies is believed to have been in September 2017 in Austin, Texas, United States. The purchase was made with Bitcoin.
And with the advancement of technology, cryptocurrencies are already a reality in the sector. This is because it is already possible to buy real estate in different places around the world with digital currencies. In addition, another segment that has been growing is the rental of properties with cryptocurrencies.
The crypto real estate market in Brazil
In Brazil, the crypto real estate market is also taking shape. Generally, the accepted cryptocurrencies for buying real estate in the country are Bitcoin (BTC) and Ethereum (ETH), which are already more consolidated.
Recently, the Apto platform entered into a partnership with large construction companies and created the “Accept Bitcoin” page, which lists properties in several Brazilian cities where payment can be made with cryptocurrency. There are already more than 60 properties available.
Some companies in the Brazilian real estate sector that accept cryptocurrency payments are:
- Mac Lucer;
- Lumy Even.
The advantages of cryptocurrencies in the real estate market
Among the main advantages of cryptocurrencies, we can highlight that the purchase process is efficient and fast. This is because, the real estate sector is still quite traditional, relies on documents and involves many other stakeholders, including brokers, agents and banks. However, buying with cryptocurrencies allows people to transfer funds, securities and data simply and quickly.
Another advantage is the decentralization of the process and payment, facilitating the purchase of real estate abroad, for example.
Nowadays, when you want to buy property abroad, you face a number of hurdles such as property transfer procedures, travel, late bank transfers, paying fees and losing money on currency conversion. When paying with cryptocurrencies, the conclusion of the purchase of the property abroad will be immediate.
What will be the future of crypto real estate?
Cryptocurrency remains very popular, touted by experts as the future of finance, including real estate. They have valuable applications for the real estate sector. So brokers, investors, buyers and sellers all benefit from the reliability and flexibility they offer.
Therefore, even greater market growth is expected in the coming years. More companies should accept the payment method, which is easier and involves less bureaucracy when buying a property.
Cryptocurrencies are increasingly on the rise in the real estate market, a sector that should grow even more in the coming years. Still, they are also present in other areas such as leisure and online casinos. Enjoy and start your investments in cryptocurrencies.