Why Selling Your Home For Bitcoin Might Be For You
If you've been keeping up with some of the quirkier trends in real estate news recently, you'll be aware that a growing number of luxury homeowners across the world are selling their homes in exchange for cryptocurrency.
If you've been keeping up with some of the quirkier trends in real estate news recently, you'll be aware that a growing number of luxury homeowners across the world are selling their homes in exchange for cryptocurrency. Rather than this practice being restricted to just a few outliers, there now seem to be entire websites and agencies dedicated to those wishing to go the route of receiving e-currencies for their real estate as opposed to cold hard cash.
This trend looks set to grow exponentially over the course of the next couple of years, as the number of accepted cryptocurrencies on the market continues to grow and their respective values continue to rise. Here's why you should consider accepted cryptocurrency for your property.
A healthy return on your investment
Say what you want about cryptocurrencies just being another passing tech trend. The truth is that just less than two years ago, a single Bitcoin was worth around $600, while today it is worth over $7000. Similar trends can be observed with popular currencies such as Ethereum, Litecoin and Ripple, with some of these even going through larger value increases than Bitcoin at the moment. While the market undoubtedly moves up and down, chances are that selling your property for cryptocurrency could see the value of those coins increase massively post-sale, meaning that you will have flipped an even larger return on your investment in exchange for absolutely zero effort.
Cryptocurrencies can be used for anything
It's useful to know that if you're sitting on a stack of valuable Bitcoin, they can be used to pay for a vast array of goods and services, meaning you don't need to just cash out as soon as possible. Your cryptocurrencies could be used to further expand your investment portfolio by investing on their price, or you can simply use it to buy a cup of coffee, book flights or even buy another property. You can even use Bitcoin in online casinos these days, with established platforms like Joe Fortune allowing you to play blackjack games, roulette and other casino games using Bitcoin. The fact that in such a short space of time, cryptocurrencies have become accepted by such a wide variety of established vendors should give comfort to any investor wishing to switch their assets to e-currency format, as this trend is likely to continue even further.
Plenty of currencies to choose from
Listing your property in exchange for cryptocurrency actually allows you a certain degree of freedom that you wouldn't get if you were listing it for cash. If you were to sell a property in Sydney, you would be expected to do so in Australian dollars and would have to jump through plenty of regulatory hoops if you wished to sell your house for Euros, Yen or Pesos. With e-currencies, you can list your home for whichever one you want, and many sellers are now accepting multiple different currencies. This means you can choose to list your real estate for a currency that you think will perform well, meaning you can maximise your returns with minimum effort.
It's undoubtedly a hugely exciting time to be involved in the property market, and the disruptive potential of entirely new currencies flooding the landscape should be enough to make any serious investor pay attention.