How To Buy New Properties Using Bitcoin

Bitcoin () is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries.

https://en.wikipedia.org/wiki/Bitcoin

Blockchain technology

Bitcoin uses a technology referred to as Blockchain technology, basically, it is a peer-to-peer technology with no central authority and which acts as a public, borderless currency. The whole network is hosted and computed by miners which are specifically incentivized to do so. Basically there’s no need to go to the bank anymore to do international money transfers.

Bitcoin for real estate

In the case of real estate, it allows you to buy either property if the buyer is willing to accept Bitcoins in full or as down payment.  Or simply turning them your bitcoins into the fiat currency local to the property you want to buy. 

Advantages of Bitcoin as a means to purchase property

  • Fast peer-to-peer transactions
  • Worldwide payments
  • Low processing fees
  • Everyone can participate
  • Transparency and record keeping

How do you buy using bitcoin?

You only need for the other party to agree on the transaction. For example, I recently made a deal with my electrician in bitcoin because it turns out he’s a bitcoin investor. 

Now at DomieNova we believe blockchain technology will greatly disrupt the real estate industry and so we decided to adopt this revolutionary innovation early. Because of that all the builders and developers we list on DomieNova are not only experienced & licensed but they also accept Bitcoin (and other cryptocurrencies) as down payment on units in new projects. Each of them has an account with one of the top cryptocurrency exchanges in Canada. 

Please note that when paying in Bitcoin the rest doesn’t change, you need to come to Canada and visit the property in person and represent yourself or hire a Canadian real estate lawyer to represent you for the transaction and ensure everything is done legally.

Got questions on the subject? Our team is passionate about both real estate and crypto, so we’ll be glad to help out, just email us at hello@domienova.com