Bitcoin is becoming a more important component of the real estate market. Buying real estate with bitcoin has never been easier or more modern. Can customers, however, use digital currency to purchase a home? Some salespeople are ecstatic about the prospect. Buyers will also come across an ad that begins with a message for cryptocurrency enthusiasts: “Accept Bitcoin!”

Real estate can be purchased using cryptocurrency. Buyers and sellers both need to be on board. In this article, I will discuss some of the merits and demerits of using Bitcoin to buy real estate. Because people are skeptical of bitcoin real estate. So today you will put your doubts to rest. Let us get started.

Merits of Investing in Real Estate with Bitcoin

1. Disrupting the Traditional Real Estate Industry

Bitcoin and Blockchain technology is a new way of doing business, so it can bring a positive influence on real estate by disintermediating traditional methods and routes in sales and transactions.

2. The Lowest Transaction Fees

Bitcoin is the cheapest way to transfer money around the world. Transactions currently have fees as low as 0% (though this may change over time). This means that anyone buying or selling Dubai property with bitcoin could easily use without having to worry about large foreign exchange costs or wire transfer fees eating up their profits.

3. Tax-Free

Since there isn’t any official regulation on cryptocurrency as of now so all the transactions related to money laundering become invisible and hence, it can be kept away from tax authorities. And this may lead to a very good and healthy market for a real estate sale and purchase through cryptocurrency without any additional taxation.

4. A Promising Market

The demand for the real estate with crypto is increasing rapidly and although today only a limited number of people own digital currencies we see that in the future, more and more people might invest their hard-earned money into cryptocurrencies due to their promising features.

5. Marketing and Communications

The world is becoming smaller each day due to automation across various industries. This has led people across the world to demand services or products from one another resulting in an increase in businesses across borders which are now interconnected through digital channels like social media, websites, etc.,

6. Lesser Volatility

Bitcoin is subject to lesser volatility than any other currency because its supply/value is capped to 21,00,000 BTC and it cannot be mined anymore after that which reduces the chances of prices soaring high due to increased demand in the future, unlike Fiat currencies where governments might print unlimited money leading to hyperinflation. This can lower down your maintenance costs for your property sale.

Demerits of Investing in Real Estate with Bitcoin

1. No Regulation Yet for Bitcoin Trading

Bitcoin has really strong potential but there are still certain issues that need to be addressed by its community and government. One of the major issues that we see is that there is no regulation or proper guidelines for trading digital currencies as of now which can lead to potential risks for investors and traders for Dubai property with crypto.

2. Volatility

Although volatility makes it very profitable for bitcoin traders this might not be a good thing for investors who are looking to buy a house. Our suggestion would be not to sell your bitcoin before 2-3 years of purchasing because this volatility can make you lose out on huge profits which you might otherwise expect if you hold it for a longer term.

3. Not A Global Currency

Bitcoin is not yet a universal currency and it cannot be used everywhere like AED, Dollar, Euro, etc., Bitcoin is limited to only a handful of countries and people in most parts of the world do not have access to Bitcoin trading.

Conclusion

After reading the above points you will be clearly doubts-free. You can buy your property with bitcoin in Dubai. CryptoForRealty and many real estate companies are accepting payments in bitcoins. You can also invest with us. We will secure your investment. Visit cryptoforrealty.com for further detail.