A new world is opening up in front of our eyes. Buy property with bitcoin Dubai? Someone is going to buy the house next door using bitcoin? Yes, it seems so! With a bit of imagination and a large dose of trust, it’s possible to purchase almost anything you can think of using Bitcoin. Including a house or an apartment if you are in Dubai or Miami for example, where it’s possible to buy an apartment with Bitcoin.
But is this really a good idea? Is it sensible to purchase something so expensive using the same cryptocurrency that has no tangible intrinsic value and fluctuates faster than Donald Trump’s opinion on Twitter?
Buy Property with Bitcoin Dubai
Let’s take a look at some of the advantages of purchasing Dubai property with bitcoin.
In Dubai, the number of property transactions increased by 9% from 2019 to 2021 whilst prices fell by 10% over those 12 months. Buyers seem to be a little more relaxed these days and are happy to take a chance on a fluctuating market rather than waiting for better value before taking action.
Property ownership gives you permanent rights over a physical asset under your control. It is different from other assets such as stocks, bonds, or cryptocurrencies where ownership depends upon others maintaining their digital records or agreeing that you own certain amounts or quantities of cryptocurrency. These things can disappear overnight without warning!
In fact, many have already gone! So if you choose not to store your bitcoin at Coinbase for example, then maybe purchasing real estate with bitcoin is better.
Top Five Advantages of Buying Real Estate with Crypto
We have identified 5 advantages of buying a home with bitcoin:
1. Purchase a house anywhere in the world
This is an attractive option for libertarians who wish to avoid paying tax on their cryptocurrency profits and also who dislike being restricted by red tape when exchanging their local currency into cryptocurrency through their bank accounts.
Banks are requiring more information these days before they open up accounts for cryptocurrencies. Every day making the process even more difficult for genuine users. Buyers can invest anonymously without worrying about government interference.
2. Buy a property with bitcoin anonymously
The buyer doesn’t need to identify themselves using traditional methods such as showing their passport, giving personal details, or even opening bank accounts to complete the purchase. Buyers can transact solely using cryptocurrency and avoid opening any bank accounts at all. If they wish to remain completely anonymous whilst purchasing the property.
Property ownership gives you permanent rights over a physical asset under your control. It is different from other assets such as stocks, bonds, or cryptocurrencies where ownership depends upon others maintaining their digital records or agreeing that you own certain amounts or quantities of cryptocurrency. These things can disappear overnight without warning.
3. Buy property without having to give banks your personal details
Buyers can buy property with bitcoin Dubai. The bank has no jurisdiction over the buyer because there is no need for exchange back into local currency or even a credit card payment. Buyers don’t have to open up any accounts if they don’t want to.
Banks are requiring more information these days before they open up accounts for cryptocurrencies. Every day making the process even more difficult for genuine users. Buyers can invest anonymously without worrying about government interference.
4. Buy property with very low fees
Buyers only need to pay cryptocurrency network fees when sending the payment, less than 1 dollar is charged per transaction. Buyers can save thousands of amounts in fees by using cryptocurrency to purchase property instead of bank wire transfers or money transfers such as western union, MoneyGram, or even cryptocurrency exchanges.
Property ownership gives you permanent rights over a physical asset under your control. It is different from other assets such as stocks, bonds, or cryptocurrencies where ownership depends upon others maintaining their digital records or agreeing that you own certain amounts or quantities of cryptocurrency. These things can disappear overnight without warning!
5. Buy property without needing to pay any fees at all
Buyers can make their offers at a price that they feel is fair, and if the seller can’t afford to sell then there is no fee for either party.
Conclusion
All these advantages show the richness of Bitcoin. Binayah real estate is offering Dubai property with cryptocurrency. Come and join us for your future secure investment. Visit binayah.com for further detail.
