Nowadays, digitalization and new technologies have generated new ways of carrying out commercial transactions, an example of this is the impact that cryptocurrencies have had on the global economy, which have grown rapidly in recent years, offering new mechanisms to conduct transactions quickly and safely.

This alternative to traditional currencies has reached multiple sectors of the economy, and in recent months has been incorporated into the real estate sector, which could generate many benefits for the market, avoiding the falsification and duplication of information thanks to the most advanced cryptography systems through the Blockchain.

Around the world there are already countries where the laws admit cryptocurrencies as a legitimate form of payment and have begun to regulate them, an example of this is Spain and Germany, where purchases made with cryptocurrencies must be reported to the treasury and pay tax accordingly.

On September 22, 2017, the newspaper El Mundo reported on the first purchase of a house in Austin (Texas, USA) with a payment made through Bitcoin cryptocurrency. Sheryl Lowe, the consultant in charge of the real estate company Kuper Sotheby’s International Realty, expressed surprise at the speed of the transaction: “In a matter of 10 minutes, the bitcoin was changed to dollars and the deal closed.”

On the other hand, it is important to know what are the advantages that this form of exchange brings to the market, then we leave you the most important ones:

- Transactions are totally secure and irreversible

- You can remain anonymous to make the purchase or sale

- There are no regulations at the state level

- Transactions can be carried out nationally or internationally

- There are no intermediaries

- It is the most economical means of payment, with a voluntary commission of less than three cents.

Ragnar Lifthrasir, founder of the International Blockchain Real Estate Association and Velox.RE, blockchain real estate company, believes that: “While the traditional real estate sector is paper based and involves a large number of third parties, including brokers, agents, custody and banks, the blockchain allows people to transfer funds, property titles and data in a more even-to-couple manner that is digital and open source. “

Undoubtedly, this new technology can make a difference, boost sales and revitalize the real estate sector through the blockchain, which seems ready to revolutionize the real estate industry, giving way to a new transaction link more profitable and immediate.

Would you dare to buy or sell a house with cryptocurrencies?

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