Most of the industries are experimenting with cryptocurrencies. Real estate is no different. Many real estate deals these days are being done with the help of cryptocurrencies. The predominant cryptocurrency which is used in real estate is Bitcoin. Recently, a Texas mansion is up for sale which can be bought with the help of Bitcoin.
Cryptocurrency real estate market:
According to realtor Stephan Burke, in the next 5 years, approximately 25% of the total real estate deals with be done with the help of Bitcoin. Currently, however, 20 homes are available which can be bought with the help of Bitcoin. The recent one to be added to the list is Highland Park, Texas. The size is 9281 ft. It is listed at the price of close to $ 1 million. It consists of 5 bedrooms as well as a swimming pool and also underground climate -controlled garage. Thus, by buying this mansion, you will be in the lap of luxury.
According to the realtor, the people who are using the cryptocurrencies in order to conclude the real estate transactions are pretty smart. They know that in the future, such transactions will be done only with the help of cryptocurrencies. That is why they are getting on the bandwagon early and ensuring that they are able to accept cryptocurrencies as well.
Increasing buyer interest:
It is not like the buyers are not interested in using the cryptocurrencies. The buyers are also coming forward to buy the property with the help of cryptocurrency. This clearly indicates that both the buyers as well as the sellers are comfortable with using cryptocurrencies as well.
Since the cryptocurrencies can be easily sent and received also the transactions can be verified in a shorter period of time, it is becoming easier to complete the real estate transactions as well. This is one of the main reasons why cryptocurrencies are being used as well.
Moreover, virtually there are no limitations when it comes to transacting in cryptocurrencies as long as the accounts are verified. This ensures that the larger sum transactions can be carried out quite easily as well. Thus, the transaction of over $ 1 million can be concluded within a few minutes as well. This is one of the main reasons why it is becoming easier to transact with the help of Bitcoin.
It remains to be seen in the future, how many real estate deals are actually done with the help of Bitcoin. For now, however, one thing which is for sure is that cryptocurrency based real estate transactions are gaining more and more momentum.
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