Little by little, Bitcoin has been gaining strength to become an essential part of our daily lives. It is that this popular crypto has been displacing traditional currencies and today it has become one of the preferred payment methods due to its advantages. Its effectiveness has gained ground, even in the real estate sector where it has been used when carrying out a transaction for the purchase / sale of a home. Today in
The comparison we will tell you some
benefits of buying a house with Bitcoin, According to
www.merca2.es. But we will also tell you what complications this mechanism entails.
What are the benefits of buying a house with Bitcoin?
Buying a house using Bitcoin as a payment method offers some great advantages, which we can summarize as follows.
1. Mechanism for a safe investment
Entering the world of real estate could generate some financial risks, especially for those new to the business. The option of hiring excellent lawyers and investment advisers can be an excellent option, but even so, it is still a latent danger. Experience and cunning are essential when developing in this area. But there is another option to avoid losses and that is investing through Bitcoin. And it is possible because of the
transparency and security offered by Blockchain. It is that in addition to receiving and sending payments for a transaction,
many people are using the system of this cryptocurrency to electronically process title deeds. In addition, it keeps the records of
public accounting books for the peace of mind of the related parties in the process of buying and selling a house. That Bitcoin currently guarantees an optimal level of certainty
considerably reduces any dispute that may arise in this regard between sellers and buyers.
2. Higher profitability
If you are an investor you will know that
It is not always a good idea to invest all your money in the same issue. But buying a home using Bitcoin as a form of payment guarantees a
diversification of the business portfolio, without the slightest risk. The profit prospects are much broader, since the value of the cryptocurrency varies according to the appreciation of the public, while that of the houses depends on the passage of time. But that's not all, because owners who accept cryptocurrency as a payment method ensure a series of
competitive advantages over the rest of the competitors, who receive bank transfers or cash.
3. Lower transaction costs
En
Merca2.es they also ensure that the
reduction in transaction costs it is one of the great advantages of buying a house with Bitcoin. It is that both the buyer and the seller who use this cryptocurrency
have a virtual wallet for the execution of any transaction. This system allows any user to make any movement of their funds for a
price far below to which conventional finance companies run. In fact, the transaction fee
will not overcome 1%, which for many translates into profit. The figures handled when moving money in crypto is mainly due to the
decentralization of Bitcoin. In other words, by not having intermediaries such as bank institutions or traditional financial entities
transfer fees they are minimal. This is also one of the benefits of buying a house with Bitcoin.
4. Easy to carry out transactions
It is becoming easier to use this procedure, which is why it has gained a greater number of followers within the complex real estate world. After having agreed the conditions for a successful purchase / sale, the payment is made in a very short time, safely and with the minimum of complications. If you are in Spain, you can transform your Bitcoin into euros, for which there are many platforms. Then, all the movement of money will be made to complete the procedure.
What are the disadvantages of paying for a house with Bitcoin?
But not everything can be perfect. If you are going to make a transaction with Bitcoin for a house, you must know the risks that derive from it, so pay close attention.
1. Limited availability
While cryptocurrencies like Bitcoin are booming, there are still skeptics, limiting the purchasing power of some investors. There are countries like China where the use of this payment system is even more reduced, so it is difficult for you to negotiate the purchase or sale of a house through this system.
2. Quotation volatility
It is known to be one of the
main characteristics of this type of negotiations, but it is also one of the negative points. Constant price changes can create fear among investors and owners, who sometimes prefer not to use Bitcoin as a form of payment. One of the main consequences is that some investors design formulas with which they will end up paying a price well above that established by the market for the acquisition of real estate.