The Rising Popularity of Cryptocurrency in Real Estate Transactions
Cryptocurrency is the latest buzzword in real estate. The idea of using a digital currency to buy and sell property has been around for some time, but recent events have shown that it may be finally gaining traction. The first instance of a cryptocurrency being used in a real estate transaction was back in 2014 when Bitcoin was used to purchase two pizzas. In 2016, one British developer announced plans for an entire city built on blockchain technology with homes available for purchase only through cryptocurrencies like Ethereum or Bitcoin. The most recent example is from October 2017 when Canadian company First National Financial LP began accepting bitcoin as payment towards their $9 million luxury condominium development project known as The Seahorse by The Sea at Stoney Pointe Cove in Nova Scotia.
Cryptocurrency has become a major topic of discussion in the real estate industry, and many professionals are beginning to see its potential. The rise of cryptocurrency is allowing for more transparency, more liquidity, and less fees than traditional methods. This blog post will explore how cryptocurrencies can be used as an investment vehicle to fund real estate transactions and what you need to know about investing in crypto today.
Cryptocurrency is a digital or virtual currency that uses cryptography for security. The first cryptocurrency to capture the public imagination was Bitcoin, which has been around since 2009. The value of Bitcoin skyrocketed in 2017 and it has continued to grow in 2018, with one bitcoin worth over $11000 USD as of December 17th, 2018. The rise in popularity of cryptocurrencies like Bitcoin have led some real estate professionals to wonder if this might be the future of transactions involving properties. The below article will explore how cryptocurrency might be used in real estate transactions, and what you need to know about investing in crypto today.
Cryptocurrency is a new world for real estate transactions, but it has the potential to revolutionize the industry. The blockchain technology that underpins most cryptocurrencies could change how we verify ownership of property and possibly even eliminate fraud altogether. This blog post will explore some ways cryptocurrency can be used in the real estate industry, as well as its limitations. We’ll also explore what’s happening with regulation on this topic.
With the rise of cryptocurrency, there is no need to be limited by fiat currency. Cryptocurrency can be used in transactions for real estate purchases and rentals, making it a much more liquid investment than stocks or cash.
With the rise of cryptocurrency, there is no need to be limited by fiat currency. Cryptocurrency can be used in transactions for real estate purchases and rentals, making it a much more liquid investment than stocks or cash. The volatility that comes with most cryptocurrencies means that they are not appropriate for everyone’s portfolio but those looking to invest should do their research before diving into any new asset class.
We are always excited to explore new opportunities and challenges. If you have any questions about how we can help your business with cryptocurrency, please contact us today.
The future of real estate is here and it’s blockchain. Cryptocurrency has been slowly making its way into the mainstream, but with time we should expect to see more people turning to digital currency as their preferred means for purchasing property. We can help you navigate this new landscape safely by working together on your marketing strategy or navigating how cryptocurrency will impact your business in general. If all of this sounds overwhelming and if you want professional help getting started incorporating crypto-currency into your plans contact us today!