Buying property (real estate) with crypto?

[Abiky]

Cryptocurrency has not gained mainstream adoption yet to the point where one can easily buy a house using crypto, although this could happen in an informal setting, e.g I have a house up for sale, I tell my crypto friend he picks an interest and decides to pay through bitcoin or other coins.


This informal transaction may not be official but the deal is already done, so that is how it works for now there exist a lot of AML policies that frown on unregulated transactions which affects digital assets and their potential to be utility-efficient.

You can sell your house for crypto freely in a country whose laws don't prohibit it. But I'd be careful not to do it in a country with a hostile crypto environment, as I could easily face fines or even jail time. Especially in countries like North Korea, China, and Russia. Crypto is "banned" in such regions. You'd have to do everything in secret.

Considering that there's the "volatility problem", it's going to take a long time for crypto real estate transactions to become fully mainstream. I'm sure real estate agencies will make use of stablecoins for complete peace of mind. Just wait and see.

[CroverNo01]

Bitcoin is ledger tender in El Salvador and I'm sure some realtor do accept it for payment of Real Estate, this might not be very common  but since El Salvador accepted Bitcoin as a ledger tender I know it will attract more investors to have interest for bitcoin.  Crypto in general not being accepted for payment is because it is still gaining more recognition.
I don't think any realtor will be comfortable to accept altcoins as payment because of the volatility of altcoins.

Crypto have been generally recognized in parts of these European countries and also Africa. Investors that have early access to crypto are actually the ones reaping heavy profits from the financial market, they understand and know how to cope with the seasonal changes in the market.

Bitcoin is popular and is now classified as legal tender in El Salvador, the government have seen the bright future in crypto and will continue to push for more engagement in the market. Do you know what it means for El Salvador government to heavily participate in the financial market to the extent of making Bitcoin as legal tender? They've open their hands to developmental changes and prominence.

[malah]

Bitcoin is ledger tender in El Salvador and I'm sure some realtor do accept it for payment of Real Estate, this might not be very common  but since El Salvador accepted Bitcoin as a ledger tender I know it will attract more investors to have interest for bitcoin.  Crypto in general not being accepted for payment is because it is still gaining more recognition.
I don't think any realtor will be comfortable to accept altcoins as payment because of the volatility of altcoins.

Crypto have been generally recognized in parts of these European countries and also Africa. Investors that have early access to crypto are actually the ones reaping heavy profits from the financial market, they understand and know how to cope with the seasonal changes in the market.

Bitcoin is popular and is now classified as legal tender in El Salvador, the government have seen the bright future in crypto and will continue to push for more engagement in the market. Do you know what it means for El Salvador government to heavily participate in the financial market to the extent of making Bitcoin as legal tender? They've open their hands to developmental changes and prominence.

The implementation of the new technologies in a countries financial systems is an indication that is willing to address the change. While the use of digital assets is taking grounds in various parts of the world, there are bound to be more chances of borderless trade for people. In one way or another, it can be said that whenever a country accepts large-scale a non-conventional payment method involved, it will be considered that it is having confidence in the development of an economy based on technology. This change also applies also to the global financial system positively in a way that various parties see potential that has not been tapped into well. This shows that the world is gradually opening itself to innovation by embracing such a bold move.

[Taskford]

Cryptocurrency has not gained mainstream adoption yet to the point where one can easily buy a house using crypto, although this could happen in an informal setting, e.g I have a house up for sale, I tell my crypto friend he picks an interest and decides to pay through bitcoin or other coins.


This informal transaction may not be official but the deal is already done, so that is how it works for now there exist a lot of AML policies that frown on unregulated transactions which affects digital assets and their potential to be utility-efficient.

You can sell your house for crypto freely in a country whose laws don't prohibit it. But I'd be careful not to do it in a country with a hostile crypto environment, as I could easily face fines or even jail time. Especially in countries like North Korea, China, and Russia. Crypto is "banned" in such regions. You'd have to do everything in secret.

Considering that there's the "volatility problem", it's going to take a long time for crypto real estate transactions to become fully mainstream. I'm sure real estate agencies will make use of stablecoins for complete peace of mind. Just wait and see.

There's always an option on everything especially as you have said that people could do something by accepting cryptocurrency thru the deals they are going thru. Although volatile might be an issue but if they really want to create something amazing that people might follow then they could attract other people to do the same.

Stable coins would provably near choice to became an option here but let see if major players of real estate market would use Bitcoin and Ethereum since this is the top coin on the market and provably would get lots of attention for their potential deals.

[Abco]

Now it is possible to buy more and more goods with cryptocurrency. But it is necessary to be very careful not to lose all your money.

[Bushdark]

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.

Cryptocurrency has not gained mainstream adoption yet to the point where one can easily buy a house using crypto, although this could happen in an informal setting, e.g I have a house up for sale, I tell my crypto friend he picks an interest and decides to pay through bitcoin or other coins.


This informal transaction may not be official but the deal is already done, so that is how it works for now there exist a lot of AML policies that frown on unregulated transactions which affects digital assets and their potential to be utility-efficient.

With the rate of cryptocurrency scams becoming a trend, I don't think many would want to trade their physical assets for crypto because you can still get scammed even with fake transaction that could look real like it's genuine. Crypto asset trading are not still in real trend because a lot is happening and many would prefer to receive their funds in fiat because that is the only way you can proof that you bought something with your money. Since no one name is attached to crypto transactions, there is no way you can genuinely specify that you bought something when it can still be argued that the transaction was not for the actual person.

[supine]

It is hard to find a seller who would accept crypto as a payment.
Most of them would only accept Fiat cause they either don't know about crypto or they don't want to risk the value dropping down due to the price fluctuations.

[Mrbluntzy]

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

@OP, Rome was not built in a day, we can see that it's only in El Salvador and central Africa republic that Bitcoin is adopted to become legal tender, there are still many countries left to do so and even if all country do so, you can not change the reality that there are some people that will not want to accept or receive payment in Bitcoin anything related to crypto. Accepting to receive payment in crypto is a choice and not a mandate, even if it's not yet used to purchase property or invest in real estate, it doesn't mean that there's no future for crypto in real estate investment. There might not be any news yet about it but we can not tell what is happening in other countries, someone somewhere must have done so already and you and I might not be aware.

[DiMarxist]

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.

It would been better in that way if countries accept bitcoin in the purchase of Estates and other Assets and properties. But those countries which the government prohibit or not allowing people to use Cryptocurrencies will not be possible. Especially my country, we can't use bitcoin buy car or phone.
But as of year before last year. That is early 2023, a mobile phone shop in my location was accepting bitcoin and when the new government was sworn in and new policies were enacted, everything changed and he also stopped accepting bitcoin to avoid arrest.

[Abiky]

@OP, Rome was not built in a day, we can see that it's only in El Salvador and central Africa republic that Bitcoin is adopted to become legal tender, there are still many countries left to do so and even if all country do so, you can not change the reality that there are some people that will not want to accept or receive payment in Bitcoin anything related to crypto. Accepting to receive payment in crypto is a choice and not a mandate, even if it's not yet used to purchase property or invest in real estate, it doesn't mean that there's no future for crypto in real estate investment. There might not be any news yet about it but we can not tell what is happening in other countries, someone somewhere must have done so already and you and I might not be aware.

Didn't El Salvador force merchants to only accept Bitcoin payments? You can see there's no choice here. Perhaps, that was the reason why BTC failed in the Central-American country. Anyways, people are free to choose the currency they want to buy/sell things. As long as laws don't prohibit it, of course.

Crypto real estate is an oddity these days, but that doesn't mean all hope is lost. Like I've said before, the main problem would be dealing with volatility. Unless, the realtor or real estate agency decides to accept stablecoins for complete peace of mind. Or maybe they can use a crypto payment processor such as CoinPayments or Bitpay to convert crypto to Fiat "on the fly". Despite crypto's recent popularity, worldwide adoption is still low. We'd have to give it some time to see what happens. I'm sure you'll be able to pay for almost anything with crypto in the future.

[Nothingtodo]

Given the current price of Bitcoin, it would have been much better if I had invested in physical assets instead of investing in Bitcoin. Bitcoin is currently in such a bear market that the price of Bitcoin is constantly falling. Maybe other physical assets have lower returns but not as much risk as Bitcoin. Therefore, it would have been better to keep some investments in the bank instead of investing in Bitcoin.

[DeathAngel]

It can be hard due to AML & KYC rules but it is possible. I have seen many people online buying property with Bitcoin. Perhaps it’s easier to buy with crypto profits in fiat, rather than with crypto directly though. This site seems interesting https://cryptorealestate.cc/

[moneystery]

Cryptocurrency has not gained mainstream adoption yet to the point where one can easily buy a house using crypto, although this could happen in an informal setting, e.g I have a house up for sale, I tell my crypto friend he picks an interest and decides to pay through bitcoin or other coins.
....

in my country if you do something like this then you will deal with the police, because all transactions, whether it is buying and selling or any transaction must require fiat money and you cannot replace it with bitcoin or other cryptocurrencies. even though the government allows cryptocurrency, it can only be used for trading and investment, while for regular transactions you still need fiat money ... and you cannot replace it with anything. so you should be careful to deal with buying and selling transactions using bitcoin as payment because you could face the police because of it.

[stomachgrowls]

Cryptocurrency has not gained mainstream adoption yet to the point where one can easily buy a house using crypto, although this could happen in an informal setting, e.g I have a house up for sale, I tell my crypto friend he picks an interest and decides to pay through bitcoin or other coins.
....

in my country if you do something like this then you will deal with the police, because all transactions, whether it is buying and selling or any transaction must require fiat money and you cannot replace it with bitcoin or other cryptocurrencies. even though the government allows cryptocurrency, it can only be used for trading and investment, while for regular transactions you still need fiat money ... and you cannot replace it with anything. so you should be careful to deal with buying and selling transactions using bitcoin as payment because you could face the police because of it.

Why?

Everything will really be depending on both parties on which it will really be basing up into their agreement in between. If someone sell out a property or any other things on which accepts crypto as a form of payment then its just that fine and since transactions in between both parties then there's no way that other people will be able to know. You can always make out transactions without being known and even if you do make out some deed of sale agreement on which you can state that its been paid up by fiat. Everything will really be that depending or in accordance in both parties. If they do live in a country on which does have that strict rules about crypto then it wont really be that a problem since these people will really be that careful on trying out to show off about such transaction in between.

The thing here is that, is there someone who do want to spend up their precious coins to buy up something on which they can actually buy it with fiat? If you are someone whose really that wanting that future value profits then you wont really be that wasting up your coins with it. Well, we do have our own personal choices and decisions in regarding about our holdings on which if you do find yourself holding your crypto coins or bags for long term approach then spending them lavishly will really be that unlikely to happen. So it will really be that up to your decisions.

[Bushdark]

Given the current price of Bitcoin, it would have been much better if I had invested in physical assets instead of investing in Bitcoin. Bitcoin is currently in such a bear market that the price of Bitcoin is constantly falling. Maybe other physical assets have lower returns but not as much risk as Bitcoin. Therefore, it would have been better to keep some investments in the bank instead of investing in Bitcoin.

Hey dude, what's do you mean that Bitcoin is in a bear market? I really need you to clarify yourself because it wouldn't be wise when you are trying to make some newbies believe that Bitcoin is now in the bear market. For the fact that the price of Bitcoin is ranging or trying to retrace does not mean that we are currently in the bear market. We are not in the bear market and you need to understand that clearly.
Investing in Bitcoin or altcoins that have good potential and ability to make investors projects would be a good idea not trying to invest in something that will not yield any tangible profit. Business is to make profits same with investment!

[Abiky]

It can be hard due to AML & KYC rules but it is possible. I have seen many people online buying property with Bitcoin. Perhaps it’s easier to buy with crypto profits in fiat, rather than with crypto directly though. This site seems interesting https://cryptorealestate.cc/

Yeah. But what about people buying/selling properties with cash? AFAIK, there's no KYC/AML involved in the process. Crypto can be treated the same way as cash, making life more convenient for everyone. It will depend on the country's regulations, ofc. In the US, I believe crypto real estate will blossom. Especially with a pro-crypto administration as the current one.

By the way, it's nice to know there's a place online where you can buy properties using crypto. What I don't like is that prices are displayed in Fiat (USD). It would've been great to see prices in crypto terms. But that's just my personal preference. For newbies, the website does the job it's supposed to. I sure hope it's legit...