And yes it is possible, and it offers you some advantages.
In 2019, the purchase of real estate was made popular in Australia thanks to a major advertising campaign. This media sale took place in Brisbane. Since then several sales of houses or apartments have taken place in cryptocurrencies. However, the phenomenon remains a minority.
Being myself active as a professional in this sector I noticed a major advantage. Currency conversion fees for purchases abroad. People living in the euro area do not realize this advantage because when they go to neighboring countries, they use the same currency. In the rest of the world, when you change countries, you change currency.
So what? Well when you convert your currency, you expose yourself to changing fees that usually vary between 3 and 6.5%. On a sum of $1,000,000, you will lose between $30,000 and $65,000. If you convert your money to Bitcoin for example you will generally have to pay (on exchange) 0.5 to 2%. That is $5,000 to $20,000. So, you will save on average at least $10,000 and on average up to $60,000. This calculation was made from $1 million for the example.
To summarize, this transaction method can save you from losing 1 to 6%. On average 3.5%. For real estate transactions, it seems that Bitcoin is ideal. It makes it possible to carry out large transaction volume easily. But its biggest strength is that it is recognized by a large number of states, businesses and individuals.
Cryptocurrencies therefore offer a competitive advantage for foreign real estate purchases. It can also be noted that in terms of transaction speed, cryptocurrencies are once again playing their cards.
Should a cryptocurrency be created for real estate transactions?
No. Now in any case, there is no specific need. Real estate is considered a sure value. The seller therefore expects in return to obtain a solid currency in return. Despite the price variations of the BTC, this remains one of the most serious cryptocurrencies. Of course, the choice of the cryptocurrency will be made by the seller. It is he who can choose another cryptocurrency if he wants.
Are Stabelcoin interesting for real estate transactions?
Yes, especially in the case of a lower price period. Again, I explain all of this in a synthetic way using an example.
If you sell your apartment for $200,000 in bitcoin and that represents at the time of selling 20 bitcoin. If you’re lucky, the heart of bitcoin may rise to $11,000. You will then have achieved a profit thanks to the price evolution of $20,000. The buyer may feel losing compared to this evolution. In the opposite situation, that is to say a decrease in prices, the seller loses. This is what drives many real estate salespeople or professionals not to use cryptocurrencies in real estate exchanges. Price volatility is too high.
