A property at 2 BTC – For some, Bitcoin (BTC) would not be a currency, but rather a store of value. How valid is this theory when put to the test of fact? This Colombian real estate platform has decided to accept bitcoin as a transactional currency.
A real estate property in bitcoin, a few meters from Colombian beaches
The Colombian real estate platform The Haus works with the OpenNode payment processor to enable investors acquire bitcoin properties. Buyers will thus be able to make all or part of the payments in bitcoin via the Lightning Network or on-chain.
The launch of these real estate services payable in bitcoin in Colombia will begin with the new Natura City project, which is expected to be completed by 2025. The project is located in a neighborhood of Santa Marta, less than 200 meters from Colombian beaches. The price of each apartment is estimated to be around 2.19 BTC, or 400 million Colombian pesos.
The Haus was already accepting bitcoin payments for buying real estate in Mexico, starting with the construction of homes in Playa del Carmen, Mexico. The company had indicated at the time that it wanted extend this payment method for all the properties listed on its platform.
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Cryptocurrencies and blockchain: disruptions in the real estate sector
Crypto and blockchain projects are transforming the real estate industry. Bitcoin and its cadets are alternatives to fiat currencies for payments. A Venezuelan citizen bought real estate property in Anzoategui with tether (USDT) in July 2021.
Blockchain also contributes to the rise of virtual real estate in metavers like The Sandbox (SAND) Where Decentraland (MANA).
The blockchain finally allows the tokenization of real estate, making investment in the latter accessible even to small budgets. The property rights of a real estate of 1 million dollars can thus be represented in 1 million tokens – or more. Anyone could then theoretically invest in this property for only $ 1, by buying a single token, representing 1 millionth of the good. Management of property rights – traceability, security – is facilitated by the decentralized nature of the blockchain.
More and more players in the Colombian economy are opening up to cryptocurrencies. The real estate platform La Haus has joined the BTC revolution, and it is not the only one. Even the banking giant Bancolombia has plunged into cryptocurrencies.
Bitcoin and cryptocurrencies in general are revolutionizing real estate, but other sectors as well. Are you already part of the crypto revolution or would you like to join it? Do not wait any longer, register on this reference platform, and benefit from a lifetime reduction on your trading costs (affiliate link, see conditions on site).