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Buying property with cryptocurrencies, fantasy or reality? - La Nación Propiedades
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Comprar una propiedad con criptomonedas, ¿es una fantasía o una realidad?
La Argentina se ubica en el puesto 13 de los países a nivel global en la adopción de criptomonedas y la compra de propiedades con este recurso ya es una realidad en el mundo
www.lanacion.com.ar
October 31, 2023
Argentina is ranked 13th among countries globally in the adoption of cryptocurrencies and the purchase of properties with this resource is already a reality in the world.
Rodolfo Vigliano
The purchase of properties with cryptocurrencies is now a reality in the world
Acquiring property through the use of cryptocurrencies is not only a possibility, but has already become a reality in many markets around the world . In fact, USDT has emerged as one of the preferred cryptocurrencies for these operations thanks to its low volatility, which offers stability and confidence for transactions.
In countries like Argentina, where the real estate market is going through moments of stagnation and restrictions on access to currencies such as the dollar are rigorous, cryptocurrencies are becoming an attractive alternative for investors and sellers . Although Argentina already occupies 13th position globally in the adoption of cryptocurrencies , there is still ample room for the dissemination and consolidation of these technologies in the country.
Argentina already occupies 13th position globally in the adoption of cryptocurrencies
Blockchain, the technology that underpins cryptocurrencies, can play a vital role in the real estate industry , and its impact goes far beyond facilitating transactions. Its ability to revolutionize the sector ranges from the creation of NFT-based property titles to the traceability of real estate transactions, even redefining the role of notaries and simplifying their tasks.
The tokenization of real estate is another significant advance that allows a physical asset to be converted into a digital asset that can be divided and sold in parts. This process offers an attractive alternative in economic contexts where access to housing is limited , allowing savings in tokens that represent a part of a property instead of saving in foreign currency.
In this context, MyEListing's initiative to launch the first Bitcoin-enabled real estate market in the United States is particularly relevant, since it has the Coinbase giant behind it. This innovation, which will allow properties to be purchased with Bitcoin or cash, promises to speed up transactions up to 50 times and expand access to the real estate market for investors around the world.
The tokenization of real estate is an attractive alternative in economic contexts where access to housing is limited
Argentina, thanks to its growing adoption of cryptocurrencies, could benefit greatly from these advances . Purchasing USDT for transfers offers an alternative to restrictions on access to dollars , and websites like CryptoAvisos already have hundreds of properties available for sale in cryptocurrencies . Furthermore, on a global level, platforms such as CryptoEmporium also allow the acquisition of properties with Bitcoin, including Argentine properties.
To date, one of the largest cryptocurrency transactions in real estate in America was that of a luxurious penthouse in Miami, which was valued at $22.5 million. The transaction was carried out with Bitcoin. In Asia, the largest cryptocurrency real estate transaction was made in South Korea, where a property was sold for $40 million.
The advantages of using cryptocurrencies when purchasing property
Some of the advantages of using crypto are: that there are no physical restrictions because unlike cash, cryptocurrencies are digital and have no physical restrictions. There is no need to transport large sums of money, which can be risky, or deal with limitations imposed by banks on how much cash can be withdrawn or deposited.
They are immediately available: While cash requires being physically present for the transaction, cryptocurrencies can be transferred instantly, regardless of the geographic location of the parties involved. They are also simplified international transactions as cryptocurrencies eliminate the complications associated with international transactions, such as exchange rates and fees. This makes it easier to purchase properties in foreign markets.
And finally, they are secure and transparent since blockchain technology provides an unprecedented level of security and transparency . All transactions are traceable, which could help prevent fraud.
In conclusion, cryptocurrencies and blockchain technology are opening new possibilities in the real estate market , facilitating and democratizing access to property. Argentina, with its growing adoption of these technologies, has the potential to take advantage of these benefits and move towards a more inclusive, transparent and efficient real estate market.
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