How feasible it is to buy house with Bitcoins?
Nov 05, 2017 Posted / 4120 Views
Bitcoin has become a well-known face of the cryptocurrency and blockchain technology. People who invest and utilize it, know about the wonders it has been making in the market. Evidently, Bitcoin has also been surging quite high with its prices. Many countries are even thinking to create a similar type of coin which can replace bitcoin. In the year 2017, the price and volume of bitcoin have grown remarkably. It is getting acceptance from many organizations, companies, and governments, which is often compared to gold.
When it comes to the utilization of Bitcoin, it is obvious to compare it with fiat currencies or gold. Since ancient times, people have been buying things with gold, which got replaced with currencies. So will it be possible that in the upcoming future, Bitcoin can replace these two and other prevalent methods of payment to purchase things? Since the world looks forward to digitization, we never know what bigger and better is stored for Bitcoins.
Talking about the commodities which can be purchased via bitcoins, a new addition is of property or to be specific we can now buy a house with Bitcoin. People who have invested in Bitcoin or who possess bitcoin can buy a house with Bitcoin. This makes bitcoin more feasible to make a huge place in the economy with other fiat currencies.
Initially, when bitcoin was accepted as a mode of payment, Laszlo Hanyecz bought two pizzas worth 10,000 bitcoins in the year 2010, which is cited as the first real-world transaction. Since that time it is no looking back for bitcoin. Today, bitcoin has covered the journey from purchasing pizzas to a house, and that is noteworthy. This gives a manifestation of the value and rise of bitcoin in the world economy.
Recently a story was published where a person who was selling their home in Perth Hills, in Western Australia, and they were only accepting bitcoins as the form of payment for their home. So this was potentially the first time in Australia that will be sold using bitcoin only and not with cash. Property websites like realestate.com.au or domain.com.au accept bitcoin as a form of payment. Bitcoin is getting accepted in various shops and now it has started to take over the real estate market as well. This September, in TEXAS a bitcoin transaction was made for a custom built home, which was done quite smoothly. The seller then converted his bitcoins into USD. Similarly, there have been few more cases where bitcoin was used to sell or even purchase a property. To invest buy or sell a property or anything in bitcoin, it is important to first own bitcoin. Bitcoin real estate is a website which lets you buy a house using Bitcoin, where they even accept Ethereum and Litecoin. There are many speculations and inhibitions when it comes to investing, buying or selling with bitcoins. Bitcoins prices are surging high but to what extent it will be utilized for other deals is right now a sceptic.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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