By Ollie H - Cryptocurrency Expert - 11/04/2021
With a steady rise of realtors buying and selling homes with Bitcoin (BTC), cryptocurrencies are presenting themselves in our everyday lives. Blockchain real estate transaction management is seeing an increasing trend, with more firms selling homes using cryptocurrencies. This is not unusual amongst ultra-high net worth (UHNW) clientele, with Bitcoin investments being the preferred cryptoasset payment method.
According to Tony Giordano, President of Opulent Agency, a crypto-real estate attorney known for using Bitcoin to buy a house, purchasing real-estate with Bitcoin requires particular services and infrastructure; including an estate agent who facilitates crypto, a crypto-real estate attorney, and a third-party escrow to process and hold the transaction.
The new decade has seen an increase in the popularity of cryptocurrencies, which were previously confined to the margins of digital finance. Today it's a different situation, as cryptocurrencies are gaining mainstream attention among both institutional investors and retail consumers. The recent years and hype have their allowed the total market capitalisation of the sector to rise to a staggering $1.90 trillion.
The new cryptocurrency craze revolves around the buying and selling of real estate.
The trend of buying houses with Bitcoin is gaining traction, with many high-end realtors selling luxury homes for Bitcoin.
According to reports, there is a rising trend among realtors to buy and sell homes using cryptocurrencies. The most popular cryptocurrency appears to be Bitcoin, which has amassed a sizable following to become the most popular cryptocurrency trading coin globally, with millions of participants and hodlers (HODL).
As reported by CNBC's Diana Olek, the idea of buying homes with Bitcoin was almost unheard of only a few years ago, when Selling a house using Bitcoin trading was nearly impossible.