Buying property (real estate) with crypto?

[avikz]

Have or ever read or heard about anyone buying real estate with crypto (particularly Bitcoin)? If crypto is meant to be an alternative to Fiat, then we should have the ability to buy/sell property with it. I, for one, haven't heard of anyone doing this where I live. Perhaps, market volatility is what's holding realtors back? I mean, we already have stablecoins backed by real Fiat currencies, so this shouldn't be a problem.

Do you think there's a future for crypto in real estate? If not, why? Your input will be greatly appreciated.

The main reason is the legality of cryptocurrency in many countries. You can surely buy a property in El Salvador using cryptocurrency, because it is a legal tender there. If any other country provides a legal framework that announces cryptocurrency as a legal tender, citizens of that country can surely by real estate properties using it.

Secondly I feel that the upside potential of cryptocurrency is much higher than a real estate property. In majority of the countries, people use cryptocurrency as an investment. But it all depends on an individual need and also on the existing legal provisions available for cryptocurrency.

[Tigerheart3026]

Have or ever read or heard about anyone buying real estate with crypto (particularly Bitcoin)? If crypto is meant to be an alternative to Fiat, then we should have the ability to buy/sell property with it. I, for one, haven't heard of anyone doing this where I live. Perhaps, market volatility is what's holding realtors back? I mean, we already have stablecoins backed by real Fiat currencies, so this shouldn't be a problem.

Do you think there's a future for crypto in real estate? If not, why? Your input will be greatly appreciated.

The main reason is the legality of cryptocurrency in many countries. You can surely buy a property in El Salvador using cryptocurrency, because it is a legal tender there. If any other country provides a legal framework that announces cryptocurrency as a legal tender, citizens of that country can surely by real estate properties using it.

Secondly I feel that the upside potential of cryptocurrency is much higher than a real estate property. In majority of the countries, people use cryptocurrency as an investment. But it all depends on an individual need and also on the existing legal provisions available for cryptocurrency.

that means only in a country (el salvador) is legalized cryptocurrencies by the government? i don't know about other any country which have legal tender. it's surprising i have seen in an article el salvador government holding is hear 4k btc it's approximately 375$ billions. i think peoples will buy property use cryptocurrency if in their country's have legal tender, many peoples can not take such advantage due to legal issues.

[JellyJ]

I have never heard if it but it would appoint in no distant future

[bastian466]

Never heard of it in my country. maybe because cryptocurrency is more used for investment seeking profit, usually what I do is exchange cryptocurrency to fiat currency first if I want to buy something because there are no merchants who accept payment via cryptocurrency

[Abiky]

as long as the government does not prohibit it, then the potential of bitcoin in the real estate sector is still very large. unfortunately, I have never seen such a transaction in my country. the reason is, the government prohibits someone from using bitcoin as an alternative payment, because it can affect fiat. however, the government allows it as an investment. So, if people want to buy real estate, then the person must convert the bitcoin they have into fiat, then make a transaction.

Perhaps, governments require real estate agencies to enforce Fiat transactions for taxation purposes. Accepting crypto directly as payment method will make taxation difficult to achieve (although not impossible). I guess the country where you can do such a thing is El Salvador. If you do it in another country (like the US for instance), you will raise suspicion.

It's too early for crypto to become a part of our daily life. It's been doing well as an investment tool. But it's going to need a lot of work in the "digital currency" part. At the rate adoption for crypto is growing (mainly Bitcoin), it's possible future generations will use crypto to buy/sell almost anything. One can only imagine...

[MinMan]

While I do agree that real estate is not a bad investment at all, I still think that it would make more sense if we could invest into crypto even more. Maybe some cryptos are terrible because there are many tokens and coins that are terrible but I still think that the better approach would be just looking at it in bitcoin perspective. Would you rather have a million dollar worth houses or would you rather have a million dollars worth of bitcoin?

I think I would definitely prefer bitcoin. Or at the very very best case I would end up with getting something seriously long term and I think that would be a lot easier things that would not be all that complicated to me at all, we shouldn't really be worried about it at all, it is going to be something that will take a while.

[uneng]

Do you think there's a future for crypto in real estate? If not, why? Your input will be greatly appreciated.

I've already seen a portuguese website with properties for sale accepting Bitcoin as payment method, but they were very expensive. So definitely not worth it.

On the other hand, I've also attempted to purchase a property for BTC in my country, I talked with the real estate agent on this matter, but neither him or the house's owner accepted my offer, because they weren't Bitcoin adopters. It surprised me though, because they are young individuals who we might instantly label as potential Bitcoin enthusiasts.

As you can see, people still prefer to negotiate properties through fiat currency. And I don't think it's going to change soon... Bitcoin and crypto in general still have a long path to trail until reaching the point of being widely used as a mean of exchange inside real estate industry.

[Y3shot]

Since cryptocurrency is anonymous many won't consider it as a means in exchange of properties, they will prefer fiat and if it is done from a mobile transaction all the details of the person will be available which can easily be use for some purposes in the future. People still accept cryptocurrency for payment but it is not it is not  very common.

[X-ray]

Never heard of it in my country. maybe because cryptocurrency is more used for investment seeking profit, usually what I do is exchange cryptocurrency to fiat currency first if I want to buy something because there are no merchants who accept payment via cryptocurrency

well, real estate transaction is no joke, sometime problem in legality can arise, so people will try their hardest to mitigate any potential of problem and one of them is just to convert crypto to fiat because the court will see the transaction as more legitimate than using crypto which isn't that widely used.

it's just perception in general and probably the regulation still lags behind in recognizing other legal tender, some country may not consider bitcoin as legal tender as well but instead just a commodity.

therefore the merchant are not interested in accepting BTC because it's not that promising to increase sales and cater to wider audience as of now, but in the future where everything digitalized and crypto becoming the norm, as common as fiat, who knows maybe things will change.

[Abiky]

Since cryptocurrency is anonymous many won't consider it as a means in exchange of properties, they will prefer fiat and if it is done from a mobile transaction all the details of the person will be available which can easily be use for some purposes in the future. People still accept cryptocurrency for payment but it is not it is not  very common.

Aren't some people paying directly with cash (paper money) to buy real estate? The very nature of cash makes it anonymous. Am I right? Besides, Bitcoin is not anonymous as many thought it would be. It's rather pseudonymous. It leaves a trail that can be easily audited using a block explorer. Talk about transparency. The government can know who's using BTC to purchase a property by linking the address with the identity of the person. True privacy coins like Monero and Grin are the only ones that can't be traced.

I'd say the level of transparency Bitcoin provides, should be more than enough for realtors to accept it as payment method. They're not doing it because they're skeptical. The unstable market prices, the lack of regulatory guidance, etc. gives realtors no other choice but to refuse BTC transactions. The cryptocurrency revolution is just getting started. So I'd give it more time to see what happens. Hopefully, BTC and other coins will be accepted for real estate purchases in the future. At least, that's the dream.

[markm]

Unless providing one's own "private army" to hold onto one's land it seems unlikely one is going to buy it anonymously since one is typically not actually buying it so much as paying some local gang of thugs to let you do various things with it, so that your "ownership" is more along the lines of your being on their list of folk they will permit to use it in various ways, often conditional upon one's performance as in provided one continues to issue ongoing bribes aka taxes to continue to "enjoy" one's use of it.

So they are gonna want some kind of name to put on their lists of who gets what privs, if only the name of some component fictitious person of some huge web of fictitious persons whose name to put on that list.

So pseudonymous maybe, like Offshore Company #476372 of the Planet Known as Wherever, majority shareholders the planet known as Elsewhere, the planet know as Unknown Planet, the #3636 Corporation of Unknownville, Foreignstate, Secretiveculture and so on.

-MarkM-