Published August 03, 2022  22:29 PM 



Cryptocurrencies In Real Estate Transactions


Cryptocurrencies are now used in our daily lives, and it seems that this trend will continue. 


Cryptocurrencies are being used more and more frequently, and they are being accepted in a wide range of markets. Using cryptocurrencies will, in our opinion, completely transform the real estate market.


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The buyer can save a lot of money by not exchanging bitcoin for traditional currency, and the seller gets to keep the in-demand digital commodity right away. 


Only a few minutes are needed for the transaction. Additionally, it is completely transparent. Bypassing banks and attorneys, sellers and buyers are able to verify information at any moment, guaranteeing the transaction’s continued integrity while saving money.


With a unique digital identification system that is a trusted way to establish identity and the availability of funds, blockchain technologies are used to combat fraud.


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For a long time, many businesses that deal with financial instruments have been drawn to Cyprus.


Long ago, the headquarters of many financial institutions were relocated to the island. The system of preferential taxes is to blame for this. With the exception of assets that are derivatives of foreign currencies, Cyprus does not tax revenue from securities. In this sense, a lot of cryptocurrency ventures are looking into Cyprus as a location to base their businesses. As a result, bitcoin transactions are generally welcomed in Cyprus.


Why Buy Real Estate With Crypto?


There are several incentives and advantages to utilize cryptocurrencies as a form of payment when buying real estate, including:



The volatility of cryptocurrencies is one of the main concerns of sellers; however, this issue is avoided by using assets like USDC or USDT, the two most popular cryptocurrencies in such transactions, as they minimize exposure to the risk of volatility.


Can FIAT Be Given To The Seller?


One of the key inquiries made by a seller is whether they can receive payment in fiat currency or if they must store the money in their wallet in the form of cryptocurrency. In this case, we have the following choices:


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