Cryptocurrency-based real estate sales continue to climb worldwide, based on the Saturday, September 24, 2022 news report posted online by business media outlet Forbes.
This latest development in the international business realm involves tales of seven-figure cryptocurrency-based real estate sales and transactions that have the real estate industry abuzz.
We are eager to let our avid readers discover more about the usefulness and relevance of virtual currencies in today’s global business scene.
We think this update regarding the surging trend of cryptocurrency-based real estate sales is important for our followers to know about, so we are posting it on our official website.
Cryptocurrency-based real estate sales are gaining traction in Miami, Florida and Manhattan in New York City, per the news update posted on the Internet by global media company Forbes, which concentrates on business, technology, investing, and entrepreneurship.
This trend started with conversations about the potential of conducting cryptocurrency-based transactions immediately after Bitcoin arrived in 2009 and the advent of subsequent blockchain currencies.
Today, other international and luxury real estate markets are testing the waters. Los Angeles, California, in the United States, is in the preliminary stages of structuring for the facilitation of cryptocurrency-based real estate sales.
Paul Salazar is a luxury real estate agent of Hilton and Hyland, a luxury real estate company based in Beverly Hills, California, in the United States.
He said he had witnessed the same wave of newly minted rich people bringing their money into the Los Angeles luxury real estate market.
Salazar remarked that virtual currencies have made many people wealthy and that this reality integrated an entire additional layer of affluent luxury real estate buyers looking to cash out their earnings and purchase a mansion.
Like Los Angeles, The Bahamas has seen firms beginning to facilitate cryptocurrency-based real estate sales and purchases.
Ryan Knowles is the chief executive officer and founder of MAISON Bahamas, which is an elite brokerage that sells the world’s most luxurious homes.
He observed that in the past, people would merely take cash, then that shifted to credit cards, Apple Pay, and so forth and that all these varying payment evolutions led to easier transactions.
Knowles cited that it is now possible that people can purchase a house with cryptocurrencies via a click of a button which is similar to ordering coffee.
He also pointed out that what was once merely cryptocurrency curiosity in The Bahamas is now silently modifying the landscape of how real estate property purchases get completed.
The MAISON Bahamas CEO relayed that considerable interest began building up in the Caribbean country when real estate deals commenced popping up in sites like New York and Florida.
Knowles cited that different firms are now facilitating cryptocurrency-based real estate sales in their market and that some developers honor virtual assets for residential purchases.
The luxury home specialist said real estate transactions will be more effortless than ever once cryptocurrencies become an established payment mode, although more obstacles need to be overcome.
We are pleased to learn about the increasing trend of cryptocurrency-based real estate sales worldwide.
Thanks to the crypto-assets, we think there will be an incredible amount of growth in the real estate industry since we are inevitably moving away from fiat currencies commonly used in business transactions.