Is Buying Property with Bitcoin Legit or Just a Scam?

[inografiker]

Hey everyone! Wondering if buying real estate with cryptocurrency is legit or just a scam?

A real estate company called TEKCE announces an opportunity to purchase property using Bitcoin, Ethereum, or USDT. They say that they've completed over 2,500 sales using cryptocurrency!

Here is the link: https://tekce.com/pay-with-cryptocurrency

Also, they claim that the process is straightforward reliable, and handled by their experienced agents.

Now what do you think about this? Is it legit or just a scam?

Thanks.

[avikz]

I see that this company is accepting crypto payment but also converting it before sending to the seller's account. So it's just giving you an opportunity to utilise your cryptocurrency to buy a real estate property.

I don't know if this company is a scam or not. But keep one thing in mind, if cryptocurrency is not a legal tender in your country, there's a high chance that you will not have the ownership of the property as crypto is not a recognised currency system.

So it's best to get a clarity before initiating any transaction with them.

[NeuroticFish]

Now what do you think about this? Is it legit or just a scam?

I won't click the link and I don't know about that specific company. But I've seen companies selling expensive stuff for bitcoin and crypto, some even cars or real estate.
In some cases "the trick" is simply that they have a deal with a payment processor that accepts bitcoin/crypto and they (intermediary) and the property seller (usually a company that builds the houses or buildings) actually receive local currency.

So while I will not say anything about this particular company, is can very well be legit.
Of course, if you go for it, pay very good attention to all the papers before sending the money. But this is the same also when you buy for fiat, isn't it?

[Johann Sebastian Block]

Once you are certain it is being done legally in your country, who would this likely appeal to? Most Bitcoin users wouldn't want - or have - that much ready to spend. The Early Miners/Buyers of large BTC amounts are the logical target for these offers.  

[Fiatless]

Also, they claim that the process is straightforward reliable, and handled by their experienced agents.

Now what do you think about this? Is it legit or just a scam?

Thanks.

You don't just believe everything you see on the internet. They claimed to have sealed many property deals but how can we verify them. It could be legit or a scam.

From the company's profile, they just serve are an intermediary between the buyer and seller. Their responsibility is to seek properties to sell and help you convert your cryptocurrencies to fiat to facilitate payment.

Why would I want to risk buying a property through this company when I can actually convert my crypto to fiat through an exchange or P2P and pay for the property by myself.

[Z-tight]

The question here should not be about the payment option, you can be scammed if you pay with fiat or anything else at all. Your question should be if the company here is legit, because a scam company can scam you with any tool, be it crypto or fiat. I don't know if this company is a legitimate one, how did you meet them? If the company is not a scam, then you can pay them with BTC and you'll have no problems, there are so many companies, merchants and services that accept BTC and crypto for payment.

[Plaguedeath]

For sure @OP is just promoting his site instead of asking it genuinely.

But keep one thing in mind, if cryptocurrency is not a legal tender in your country, there's a high chance that you will not have the ownership of the property as crypto is not a recognised currency system.

True, it would be silly if the company scammed your coins and after you report them to the authority, the authority choose to put you in the jail because you broke the regulation in your country for using Bitcoin as payment.

Even though the usage of Bitcoin as a currency is the best when we buy expensive thing, but due to this case, I don't want to use Bitcoin.

[zasad@]

I read Alex K's review from the Russian Federation. In Turkey, companies accept cryptocurrency, although it may not be allowed by law, so the contract may not specify payment in cryptocurrency and the amount of the property purchase transaction is often underestimated due to high taxes.

In any case, you must have an official income and proof of source of funds. If you have this and payment in cryptocurrency is not prohibited, it does not matter. Most crypto users do not have proof of source of funds and risk being audited by the tax authorities.

I could be wrong, but cryptocurrency has a shadowy tinge of earning, and such transactions may be checked more often than regular fiat transactions.

[sokani]

You don't just believe everything you see on the internet. They claimed to have sealed many property deals but how can we verify them. It could be legit or a scam.

From the company's profile, they just serve are an intermediary between the buyer and seller. Their responsibility is to seek properties to sell and help you convert your cryptocurrencies to fiat to facilitate payment.

Why would I want to risk buying a property through this company when I can actually convert my crypto to fiat through an exchange or P2P and pay for the property by myself.

My guess is, it's either op is trying to avoid extra charges from converting his crypto to fiat or he's avoiding attention. There's certain amount that will enter your bank account and you'll be invited by the authorities to proof the source of the funds, so that could be it.

On a personal level, buying properties on the Internet using crypto is something I wouldn't dare because of the high rate of online scams and the large amount of money involved. If I get scammed I'm not sure I'll be able to get over it.

[Z-tight]

On a personal level, buying properties on the Internet using crypto is something I wouldn't dare because of the high rate of online scams and the large amount of money involved. If I get scammed I'm not sure I'll be able to get over it.

Would you buy a property over the internet with fiat? If the service is an illicit one, you will also be scammed; it is not the tool you use for payment that matters, it is if the service is legit or not. Scammers have been defrauding people using fiat amd other tools for a very long time. Like i have already said, if the service is legitimate and crypto is not banned in your country, you can pay with crypto and everything will go smoothly.

[Fiatless]

My guess is, it's either op is trying to avoid extra charges from converting his crypto to fiat or he's avoiding attention. There's certain amount that will enter your bank account and you'll be invited by the authorities to proof the source of the funds, so that could be it.

Who would now pay the transaction fee? The transactions will be part of what the buyer would pay as agency fees. These agencies are in business to make money, they don't give free services.

The idea of trying to avoid suspicion by the government is a good point. Some countries also have unfriendly crypto laws which might make crypto users want to use middlemen.

On a personal level, buying properties on the Internet using crypto is something I wouldn't dare because of the high rate of online scams and the large amount of money involved. If I get scammed I'm not sure I'll be able to get over it.

There are some genuine real estate companies that accept cryptos for payments. Bitcoin is a currency and can be accepted by many reputable organizations.

[Potato Chips]

I've heard it's possible in some countries like Portugal.

Verifying a particular real estate company's legitimacy would be a different story though. I imagine it shouldn't be too hard if the company is reputable which many people could vouch for. Check with your local laws as well—typically, companies would need a valid license.

Or you could just convert the fiat yourself—OTC perhaps— and open up more choices for your liking. It does appear these real estate companies are also just converting the fiat for their clients. It'd be good to compare fiat and crypto fees when buying properties.

[YOSHIE]

Now what do you think about this? Is it legit or just a scam?

Indeed, doing business online/on the internet is tempting, easy, fast and so on, several companies operating in the property sector are legally valid, some of their companies are supported by local authorities.

Yes, I tried to look for some reviews about the TEKCE company, but I haven't found anything bad, of course I'm not saying the TEKCE company is fraudulent or honest, the point is that you are dealing with the internet/online, of course we don't want regrets or problems in Thenthat day for sure.

OP talks about the TEKCE site, try reviewing it TEKCE Customer Reviews, I see that there are various countries that have carried out customer transactions with TEKCE in purchasing property with crypto. I see that there are already customers from Canada, the US, France, Sweden, England, Pakistan and many more customers who have experience with TEKCE.
My advice, call or meet them directly, ask about their TEKCE business trip, you will find out whether it is good or not, that way might be better for you.

[Floxynice]

Hey everyone! Wondering if buying real estate with cryptocurrency is legit or just a scam?

A real estate company called TEKCE announces an opportunity to purchase property using Bitcoin, Ethereum, or USDT. They say that they've completed over 2,500 sales using cryptocurrency!

Here is the link: https://tekce.com/pay-with-cryptocurrency

Also, they claim that the process is straightforward reliable, and handled by their experienced agents.

Now what do you think about this? Is it legit or just a scam?

Thanks.

In my opinion, what is used to determine a scam project is not whether it accepts crypto or not. Bitcoin in this case is a means of payment, so it doesn't stop a company from being scamand neither will it turn a genuine company to a scam.

[tetaeridanus]

Accepting anything but Turkish Lira is illegal in Turkey. Even if you sell a property with USD; the developer needs to give TRY as income and tax. Accepting BTC is like accepting USD or Euros in Turkey. They will need your proof of funds in order to accept your payment. This looks like a scammy low-class advertisement tbh. Are you trying to advertise this service?

[virasog]

I see that this company is accepting crypto payment but also converting it before sending to the seller's account. So it's just giving you an opportunity to utilise your cryptocurrency to buy a real estate property.

I don't know if this company is a scam or not. But keep one thing in mind, if cryptocurrency is not a legal tender in your country, there's a high chance that you will not have the ownership of the property as crypto is not a recognised currency system.

So it's best to get a clarity before initiating any transaction with them.

With this particular company case, a due diligence is needed but generally with the crypto adaption there will be a time where you can directly buy sell the property using bitcoin or cryptocurrencies. The world is changing fast and yesterday i heard that Hong Kong now accepts crypto as a proof of assets and that investment in bitcoin can be used in immigration, buying an house with bitcoin is a very little thing now.
Hong Kong Accepts Crypto as Proof of Assets for Investment Immigration

Just wait for decade or even less, and we will be able to use bitcoin as a currency for all purposes publicly and globally accepted.

[Z-tight]

Just wait for decade or even less, and we will be able to use bitcoin as a currency for all purposes publicly and globally accepted.

This is the mass adoption that we all expect in the future, we know that BTC would not replace fiat, neither was it created to do that, but even as an alternative currency, we expect it to be widely accepted by merchants around the world. So many countries are discussing the possibility of creating a BTC strategic reserve, that is to show how much interest institutions now have in BTC and how well BTC is growing.

[Lucius]

For sure @OP is just promoting his site instead of asking it genuinely.
~snip~

At least someone has an eye for details - the OP is just using free techniques to promote his business, and apart from the fact that the members are creating a fake discussion, it doesn't occur to anyone that this kind of topic has nothing to do with the Legal board?

BTC is a currency and as such can be used for anything and anywhere - just don't be naive and buy expensive things online, because for every honest seller there are at least 10 scammers.

[goldkingcoiner]

Hey everyone! Wondering if buying real estate with cryptocurrency is legit or just a scam?

A real estate company called TEKCE announces an opportunity to purchase property using Bitcoin, Ethereum, or USDT. They say that they've completed over 2,500 sales using cryptocurrency!

Here is the link: https://tekce.com/pay-with-cryptocurrency

Also, they claim that the process is straightforward reliable, and handled by their experienced agents.

Now what do you think about this? Is it legit or just a scam?

Thanks.

Their website says they have offices in Spain. Since they are in Europe, they would probably be registered with the authorities. You can always look them up. I would definitely do more research before sending even a single Satoshi. Better safe than sorry.

I have heard of paying with Bitcoin for luxury cars, so why not real estate? But I cannot vouch for that website.