Bitcoin is being used in over 270,000 transactions daily, and its usage is only increasing.
So, why not use your Bitcoin to make your real estate transactions?
The future of real estate is changing to accommodate the use of bitcoin in property transactions, and more real estate companies are facilitating bitcoin transactions. In fact, bitcoin is becoming as popular an investment as real estate.
Using Bitcoin To Purchase A Property
- Investing in property gives you a chance to diversify your assets.
- Real estate transactions favor cash buyers, and using bitcoin is like being a cash buyer, which can give you more negotiating power
- One of the drawbacks of purchasing a property using bitcoin is the lack of sellers. There is limited availability of properties being sold for bitcoin, and you may have a hard time finding properties in your desired location.
- If you decide to invest in property, you may miss out on future appreciation and returns on your bitcoin.
The chance of appreciation offered by owning bitcoin.
If you open up the sale of your home to bitcoin buyers, you will widen your audience and attract more cash buyers.
The chances of appreciation are equally weighed with the possibilities of bitcoin’s value depreciating, resulting in losses.
The complexity of taxes involved in bitcoin real estate transactions applies to both the seller and the buyer.
You will also need to establish a secure virtual wallet for your new bitcoin, which may involve enlisting help, depending on how well-versed you are in cryptocurrency storage.