You can now buy real estate with bitcoin!
Since the introduction of the digital currency in early 2009, it has developed very rapidly. Importantly, the community of private investors and businesses who trusted the bitcoin is growing faster than ever. Finally, it is even the real estate market which is slowly getting interested in the crypto currency.
The digital currency is said to be a decentralized, and not fully transparent payment system. Yet still, it has a high potential to shake up the banking system worldwide.
Real estate and bitcoin
For a long time the bitcoin was not considered a ‘real money’. Mainly because there has not been many services or goods you could purchase with it. However, recently one of the most elitist, old-fashioned and powerful pillars of economy – the real estate market – became interested in the currency. What is the result? Now you can open your bitcoin wallet and purchase a heavenly villa in Switzerland (for around 5 bitcoin per square meter) or a dream condo in Dubai. No currency exchange needed.
Who is interested?
Who is interested in buying listed, luxurious properties for their ‘e-money’? These are often young, tech-savvy investors who got into digital currencies at the right time.
The ones who traded with bitcoin from the very begging, have surely managed to get a very high return on investment by now and might want to acquire their first assets. (In 2017 itself, the currency experienced a massive growth of over 100%.)
When looking at the share price of bitcoin, it seems to be a very reasonable, extremelly fruitful investment opportunity. However, if one is interested in operating with bitcoin, he or she needs to be aware of the risks. Although the money laundering and consumer protection laws already apply to the crypto-currencies, the market remains very poorly regulated. Its scalability is another major issue and has to do with processing capabilities, increasing transaction fees and delayed cash-flow processing.
Bitcoin transactions are still very rare on the market. Therefore, and at this point it might be another method of real estate firms to generate publicity.
Do you think the bitcoin has a potential to one day become an official, mainstream currency, or rather become a digital gold?
Source of title image: iStock / Easyturn