Date: May 30, 2022Author: Team Piramal Realty
Cryptocurrencies are disrupting many industries for the better and the Indian real estate sector is the latest to see its benefit. Buying a house with crypto is global industry trend that has recently come to light. However, while the concept has still not caught up with the Indian audience, it is possible to buy a house with cryptocurrency in many countries.
With the stupendous rise in the value of Bitcoin in 2017, cryptocurrencies have gained quite a few followers as an excellent alternative investment. However, apart from being used as an investment, Bitcoin and other cryptocurrencies are also being used to purchase items. Approximately 100,000 merchants around the world accept Bitcoin as a valid payment option.
This also includes many global real estate firms such as Kuper Sotheby’s International Realty and Glen Oaks Escrow of the Pango Group that started using bitcoin for real estate transactions in 2017 and 2021, respectively.
In the global real estate industry, investors who have made high amounts of profits on virtual currencies are open to using them to buy real estate with crypto.
Yes, you can undoubtedly buy real estate with crypto. However, you may have to find a seller who is willing to accept cryptocurrency as a valid form of payment. In March 2020, a ruling by the Supreme Court of India annulled a ban that the Reserve Bank of India (RBI) had imposed on cryptocurrencies in April 2018.
Here are a few points to keep in mind if crypto real estate interests you:
Buying a house with crypto comes with its own set of advantages and disadvantages that homebuyers should be aware of.
Advantages:
Disadvantages:
The answer to whether you can buy a house with cryptocurrency is a yes, as long as you can find sellers who are open to cryptocurrencies.
Disclaimer- This article is based on the information publicly available for general use. We do not claim any responsibility regarding the genuineness of the same. The information provided herein does not, and is not intended to, constitute legal advice; instead, it is for general informational purposes only. We expressly disclaim any liability, which may arise due to any decision taken by any person/s basis the article hereof. Readers should obtain separate advice with respect to any particular information provided herein.
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