Are you familiar with the current trend in the cryptocurrency world? If you are, you would have heard that bitcoin is being used to buy properties in different places in the world. If you are resident in North Cyprus, this is the guide that will help diversify your cryptocurrency funds. You will also get answers to the many questions in your mind on the exchange everyone is talking about. Ready? Let’s go.
Can you buy luxury property with bitcoin?
The simple answer is Yes. But, more elaborately, bitcoin is also a currency that can be used to buy property in North Cyprus. If you have this currency and are unsure how to go about exchanging it with a property, look at the different ways you can do so.
- Through a real estate company
The first place to check for potential sellers is among real estate companies. There are different real estate homes rising recently that accept bitcoin and are ready for the exchange. You are already halfway there if you find one because the other process is similar to using fiat currency. This is one of the most seamless processes if you want to buy luxury penthouse in North Cyprus.
- One on one sale
If you don’t have a real estate company to handle the sale to you and a house owner is willing to do so, you can also do business still. This can be stressful because if the seller is willing to receive bitcoin and the escrow company or other litigation office are not inclined, it could be a challenge. Also, your legal advisers must know how the bitcoin transaction works such that you are sure the processing is secured.
- Bitcoin conversion
If you still didn’t get what you want when looking for a private realtor or company, you can convert your bitcoin to cash. Since not all homes allow for purchase with bitcoin, therefore doing the conversion might be your best bet. In fact, some companies even agree on a dollar rate for bitcoin such that after the transaction, it will be safe for them. To avoid losing in this area, you can make the conversion to dollars even before you approach the seller to make sales.
Why buy luxury property with bitcoin
Whether you are using a real estate company or a private individual to buy a house, you enjoy certain benefits from this process.
- Anonymity is possible
Most people want to diversify their bitcoin funds to buy a luxury penthouse in North Cyprus but wish to remain anonymous. With bitcoin transactions, it is possible to do so as all transactions are encrypted and completely anonymous.
- Purchase is faster
The significant workload falls on finding someone willing to sell a property for bitcoin. Once that is settled, it doesn’t take much time for the transfer to be made and confirmed. Then the remaining process is the conventional house purchase process that fiat currency also undergoes.
- Transaction fee is lower.
It is great to be able to diversify bitcoin funds but much more, saving money in the process is a big deal. If you buy property within North Cyprus with bitcoin, you will bypass some fiat transaction fees, hereby saving for other things.
- No middle man is required.
If you want to buy luxury property with bitcoin and avoid the stress of intermediaries and transaction fees you pay in the process, bitcoin is your way out. You get to beat away those fees and keep your transaction private.
- It is the only acceptable currency to some sellers
Some luxury homes in North Cyprus admired by most people can only be bought with bitcoin. This means if you have bitcoin, you are at an advantage over those that don’t have.
So, the question is whether you can buy a house with bitcoin but when you are ready to do so. Different sellers are prepared to accept your digital assets and exchange them for real ones if you are prepared. Plus, you can choose from the diverse selection of houses to know which one would be great for you. So, own some bitcoin today, exchange it with the dream house of your choice and enjoy luxury at its peak. Happy exchanging!