How do you buy real estate with cryptocurrency?

There are many ways to use Bitcoin for everyday transactions. The popularity of cryptocurrency as a new, peer-to-peer payment method is reaching new heights every day. Many favorable investors are heavily investing in cryptocurrency to become a mainstream asset. From parking spaces to expensive mansions, everything will soon be purchased using virtual currency.

So Bitcoin (and many other cryptocurrencies) can be used for almost any purchase you want to make, in both the real and virtual world. Some companies involve a third party to exchange cryptocurrency for euros, dollars, and cash. Others accept Bitcoin as it is. This payment method is extremely cheap and almost instant.

Real estate is no exception to the rule. Exchanging Bitcoin for a home is becoming very popular among online real estate agents (buyers, sellers, and investors).

How do you buy a house with your Bitcoin?
So, can you use digital currency to purchase real estate? The answer is certainly yes. According to the famous American magazine Business Insider, 50 luxury apartments were sold for cryptocurrency alone in 2018. To this day, many real estate developers are selling their properties for cryptocurrency. Financing investment properties with a real estate mortgage interest is always possible with different types of payment options.

Don’t compromise your comfort
You can actually buy real estate with crypto in sunny Florida, beautiful California, bustling New York, and many other places! Many of these prime properties feature stone fireplaces, panoramic ocean views, or jacuzzi jets, for example.

Before closing a deal, you first need to ensure that both the buyer and seller are in the crypto game. There is also a need to find title insurance and escrow companies that are okay with handling cryptocurrency transactions instead of traditional transactions. So, if you’ve managed to find all the above, then it’s fine. You’re on your way to acquiring your desired property. Let’s take a closer look at the downsides of buying a house with cryptocurrency to be extra critical of crypto and real estate choices.

The downsides of buying real estate with cryptocurrency
Of course, purchasing real estate with Bitcoin comes with some issues, just like any other major deal. And it’s up to you to decide whether the shortcomings below are decisive.

1. The volatile nature of digital currency
As mentioned above, cryptocurrency is sensitive to price fluctuations. And this is intrinsically linked to uncertainty. What can happen to your offer if the purchase price swings back and forth? Some sellers do not want to deal with uncertainties at all.

2. Unfamiliarity with cryptocurrency
Many people still know little about virtual currency. This payment method has only recently come to light. So it’s no wonder people feel nervous about making payments with a currency they don’t understand.

3. Difficulties finding a seller
If you want to exchange your crypto for a house, it can be very difficult to find someone who accepts Bitcoin. You know, this is not about traditional property listing sites. The path won’t be that easy. Some sellers will indicate that they are crypto-friendly. But those are more of the exceptions.

Final words…
It doesn’t matter what kind of cryptocurrency you use. Before closing a deal, you should ask yourself: Do I know how it works? Am I sure the sale will be successful and finalized accurately and efficiently? If the answer is yes, then go ahead!