Buying and selling homes with cryptocurrencies

In recent years, terms such as bitcoins, cryptocurrencies or fan tokens have become increasingly popular. Especially the virtual cryptocurrency market has become an increasingly common new practice for conducting business in many different fields. As a consequence of digitalization and new technologies, the sale and purchase of homes with cryptocurrencies is already a reality in many cities in Spain, and specifically in the Costa Brava.

From Emporda ImmoAs a real estate agency specializing in the purchase, sale and rental of exclusive properties, we want to comment in this article what are cryptocurrencies, how you can buy homes through them, and what are the most important advantages of buying a home using cryptocurrencies on the Costa Brava.

What are cryptocurrencies?

Cryptocurrencies, also known as cryptocurrencies or bitcoins, are virtual currencies created for the purpose of digital exchanges. Thus, although cryptocurrencies have the same use as physical money, they have become a new intangible payment method that has emerged as an alternative to the current and traditional payment model.

In recent years, cryptocurrencies have acquired greater importance because through them, operations and exchanges can be carried out using what is known as digital encryption and through which greater security is guaranteed in the transaction.

Can you buy homes with cryptocurrencies?

It is important to mention that currently, there is no specialized legislation that controls transactions and buying and selling movements through cryptocurrencies, even so, it is also important to comment that making purchases through this new payment method is considered a legal practice, although different aspects must be taken into account for the exchange to be carried out correctly.

How to buy homes with cryptocurrencies?

After having stated that it is possible to buy homes with cryptocurrencies, we consider it relevant to comment on the process of buying homes with bitcoins.

It should be noted that cryptocurrencies are a decentralized payment method, so it will be necessary to establish a prior agreement establishing the conditions for both parties, seller and buyer.

In this agreement, the exact date on which the translation of bitcoins to euros is indicated must be established and must be made before a notary. It is necessary to point out the date since, as we have mentioned, cryptocurrencies are unstable currencies that can change their value very quickly. In this way, the deed of the property will indicate the price in euros that has been agreed upon by both parties for the purchase and sale.

The transaction itself is carried out following the same process that is established in the purchase and sale of homes in the traditional manner. The only previous and different step that must be carried out is the exchange of bitcoin to euros.

Advantages of buying and selling homes with cryptocurrencies

Buying homes through cryptocurrencies has become a very profitable option in order to take advantage of all the opportunities offered by this new payment method. To conclude this article, we would like to mention some of the most important advantages offered by bitcoin for the purchase and sale of domiciles.

Secure transactions

As mentioned above, one of the main characteristics of cryptocurrencies is the security they offer in transactions. Security is guaranteed through different cryptographic techniques that ensure that each person has cryptographic keys to carry out any type of digital exchange.

Anonymous exchanges

Another of the most important advantages is that through cryptocurrencies, transactions and purchases can be made anonymously. That is to say, in the sale and purchase of any real estate that is carried out through bitcoins, the buyer is not obliged to identify himself in order to carry out the transaction. This characteristic favors the protection of the patrimony in addition to guaranteeing greater security.

Trading in foreign markets

Finally, it should be noted that another of the most important benefits offered by cryptocurrencies is that they facilitate and speed up transactions in foreign markets, since they are global currencies and therefore do not belong to any governmental organization, and therefore it is not necessary to exchange currency.

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