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Can Bitcoin be used to Invest in Real Estate?

Can Bitcoin be used to Invest in Real Estate?

If you have the means, connections and wealth, this little concept could make for a rewarding business. Imagine being able to buy properties, upgrading them and then, selling it off for even more money. Now, wouldn’t that be a nice way of making more money or cryptocurrency?

 

Today, homes are selling relatively faster than ever before. According to the National Association of Realtors, a home on the market now sells in just four weeks. This only shows that there are a lot of aggressive buyers in market who are ready and eager to find and buy and dream home.

As much as 51 percent of home buyers now tend to find their purchase through the internet. With their willingness to rely on digital technology to locate their dream property, it may also mean that they can be enticed to buy and sell properties in cryptocurrency.

How to Get Started on Buying Properties with Bitcoin

Today, more and more property buyers are opting to use cryptocurrency to finalize a sale instead of regulated currency. According to reports, the first-ever real estate done with cryptocurrency was for a single-family home located in Austin, Texas. More properties have been bought with cryptocurrency, specifically Bitcoin, since then. Could you be carving a piece of that action? Here’s how you can get started:

Choose a Cryptocurrency Wallet for Your Investment Funds

You need to do is make sure you can participate in a cryptocurrency transaction once you find the perfect property. Hence, you need a cryptocurrency wallet.

A cryptocurrency wallet does not function like a wallet or bank account as it doesn’t store your cryptocurrency. Instead, it uses some specific algorithms to generate a public key and private key. These are the details you would need to send and receive funds. Today, there are several popular ones like TREZOR or Ledger Nano S that you can readily consider.

Visit Sites that Allow Bitcoin Purchase on Properties

Once your wallet is set up and ready, it’s time to look for possible properties. There are various sites that show properties available for bitcoin purchase. These include Bitcoin Real Estate, Open Listing and spendabit. These sites show properties located all over the world and display prices in US dollars and equivalent bitcoin value. You will also be able to choose between residential properties and commercial properties.

Pay with Bitcoin

Once you have come to an agreement with the seller of your chosen property, you can transfer your bitcoin payment and property is yours. Of course, you may have to wait a few more days for all the paperwork to be completed.

Just follow these steps and you should be able to acquire any property you want with cryptocurrency. Once you are done upgrading it, go ahead and offer it for sale. If you want to keep transacting with cryptocurrency, you can always offer it on sites that encourage bitcoin or even Ethereum sales

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