If you are a frequent reader of LLM – Luxury Lifestyle Magazine, you are well aware of our high regard for the bitcoin industry. However, it seems like owning Bitcoin is an even greater benefit at this point in the coronavirus global pandemic. Despite the Chancellor of the Exchequer’s remarkable attempts to support the economy, the current problems have caused the UK’s fiat currency, Pound Sterling (GBP), to fall below $1.15 for the first time since the 1980s. However, we have not yet reached the financial impact’s lowest point. The value of the pound (GBP) has decreased by 8% against the euro and the dollar since the beginning of March. Bitcoin, too? Well, this week it has increased by 12.5%. Visit bitcoin-evolutionpro.com for additional details on how to grab a piece of the action. So where do you spend it if you’re one of the select few who had the wisdom to diversify your assets and want to profit from it? In our opinion, it is a wonderful time to buy real estate. Even better, you can buy luxury houses directly from your Coin base account using a number of new emerging ways. A new breed of wealthy fintech entrepreneurs has generally embraced property investment using cryptocurrencies. As a result, many of your neighborhood estate agents with the conventional picket signs have been a little cautious to put their toes in the water. Cryptocurrencies are being used by thousands of people to raise their living standards.
The new ground is being broken
Having said that, real estate purchases using cryptocurrencies have been taking place for a while. In Colchester, Essex, in December 2017, the first luxury mansion was purchasable with bitcoin, according to sources. An unidentified twenty-something software professional purchased a detached property from developer Go Homes for £350,000. The owner allegedly then continued to rent it out in Bitcoin as well, according to the agents. A £595,000 four-bedroom townhouse in Hertfordshire that was the subject of the second Bitcoin sale in the UK was also sold through Go Homes, a company that supports cryptocurrency exchanges for a variety of factors. Ed Casson, group sales director of Go Homes, told the Telegraph that this “rewrites the rule book” and demonstrates that there are various ways to market real estate. In the next five years, selling properties for bitcoin will become commonplace. “Over the past 50 years, innovation in our industry has stayed basically constant. We are seizing the chance to use this technology. In Austin, Texas, the first Bitcoin real estate transaction took place in the US that same year. The seller did, however, quickly exchange the Bitcoin for fiat money. A generation of wealthy fintech entrepreneurs has mainly embraced property investment using cryptocurrencies.
Luxury lifestyle
The luxury developers jumped on board as soon as the mainstream housing market started to show that buying a property with cryptocurrencies was a valid option. The first real estate transactions were documented in the same year when British businesspeople Michelle Mone and Doug Barrowman unveiled a £250 million high-end building in Dubai, where each unit was made exclusively available to Bitcoin owners. Additionally, the existing luxury real estate started to appear on the market. American hedge fund manager Roy Nieder Hoffer listed his $16 million property on the upper west side of New York City in 2018, saying that he preferred to get paid in bitcoin. He would go so far as to actually pay the transaction fees on the buyer’s behalf in order to keep as much of the sale in Bitcoin as he could. Since then, tales of wealthy homeowners from Westport, Connecticut, to Montenegro trying to exchange their opulent homes for a piece of the cryptocurrency pie have appeared again. At five-star hotels like The Dolder Grand in Switzerland, you can now reserve opulent rooms and suites using Bitcoin.
Right now, in this place
But where do you go if you want to use Bitcoin today to buy a luxury property? You will need to be aware because of the anarchic nature of cryptocurrencies in general; it is not as easy as walking into your neighborhood estate agency and ringing a bell. Of course, as a Bitcoin owner, you shouldn’t have any trouble doing that. A small number of estate agencies in the UK and Northern Ireland now accept Bitcoin in theory or have procedures in place to facilitate a bitcoin transaction. These companies include Monday’s Estate Agents, The Collective, Agape Properties, Hagan Homes, and Go Homes. Property aggregator Right move accepts Bitcoin property listings in theory. While Pakistan’s gorgeous Park View City in Lahore has become one of the nation’s most sought-after housing complexes to take cryptocurrencies, Magnum Real Estate Group stands out as the top luxury property broker and specializes in cryptocurrency transactions. Propy.com, however, is the organization that has taken the most significant development measures to advance Bitcoin transactions. Property is an all-in-one real estate brokerage platform that makes use of blockchain technology for safe online real estate transactions. If both the buyer and the seller agree, the company will facilitate any home deal using cryptocurrency as one of its many choices.
