Agustina Bluthgen / 07/06/2022
Crypto In Real Estate: How To Buy Land With Cryptocurrencies
Cryptocurrency usage has dramatically increased. In fact, due to the uncertainty created by the pandemic, 2020 and 2021 were record years. About 46 million Americans (roughly 22% of the adult population) own a share of Bitcoin. While still volatile, Bitcoin reached an all-time high in valuation and number of transactions in the last two years. Other coins are seeing a similar spike in popularity. There are around 5,100 cryptocurrencies in the market today, including Ethereum, Solana, Tether, Cardano, and Polkadot. But is crypto in real estate even possible?
Crypto is more versatile than you might think. You can use cryptocurrencies for online purchases, the supermarket, book flights, the movies. Most of your everyday purchases now accept some form of crypto, including real estate transactions.
Buying land with crypto
Nowadays, real estate transactions with crypto are a trend. They are on the rise due to convenience and increased security. Investors often decide to invest in real estate to diversify their investment portfolios. More and more, companies are starting to accept cryptocurrencies as payment methods. Crypto in real estate has become more common than you might think.
You could think that cryptocurrency volatility could be a problem for the seller. But they can request to receive the payments in stablecoins. Some cryptocurrencies have values tied to real-world assets such as the U.S. dollar. You can also convert it to fiat money at any time (USD, Euro, and so on). For example, if using crypto in real estate, your seller might accept your Bitcoin and convert it into USD once it reaches its highest peak on the same day.
How to buy land with crypto
Firstly, you must have a Crypto wallet. These are virtual wallets where you can hold your cryptocurrencies. You can also use it to send and receive crypto payments. There are several types of wallets with different levels of convenience and security. If you are unsure, you can always ask for expert consultation. It’s always best to be well informed and get to know the crypto market before entering it, especially if you wish to use it in a traditional market, such as crypto in real estate.
One of the easiest ways to create a crypto wallet is to register on one of the big exchange platforms. There’s a variety of them, such as Binance, Coinbase, crypto.com, etc. You can follow their tutorials to join.
After creating a wallet and buying your first coin, you’ll need to research. Start by looking for real estate companies that accept crypto. Then you have to check which crypto they accept. If you yet don’t own it, you can easily exchange it on the platform of your choice. Normally all platforms work with all the biggest cryptos.
The final step is to copy the crypto address of the company selling the land and send the crypto to that address. Easy as that! The steps are straightforward and guided at all times. You may be cautious about using crypto in real estate. The learning curve is the same as any time you first use a new technology or tool. You just have to get used to it!
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