Cryptocurrencies are making headlines in the news more than ever. Bitcoin has gained so much in value, and it is quickly becoming a preferred method of payment for high-end real estate transactions.
A significant number of individuals, who have made millions in cryptocurrency, are now turning to real estate because it is a less volatile asset, and the fact that the crypto industry is still largely unregulated, makes it more attractive to most potential homebuyers. If you have any intention of using crypto for your real estate transactions, here are a few things you should know:
Crypto world is very different from the financial world you know. To begin with, this is a digital currency, and you will never hold it in your hand as you can with dollars. You should therefore do your research and know as much as you possibly can before you attempt using crypto for real estate transactions.
Bitcoin is the most popular crypto, but there are hundreds of others, and many more are still being introduced and traded. So don’t think that you have to deal only in bitcoin. Bitcoins are very expensive at the moment, and if you consider yourself a long-term investor, then you can think of other alternate coins with more growth potential.
Before you start asking your buyers to pay you in crypto, know how to buy and sell cryptocurrencies first. Get a crypto app and buy $30 worth of any crypto (like bitcoin) to understand how the process works; then sell it back into dollars again.
Cryptocurrencies are receiving a lot of attention at the moment, and if you want to succeed, you must stay informed of what’s going on in the market, especially the price movements of the top coins. Remember, you don’t have to stick to one coin only should you choose to invest in any cryptocurrency; just as you wouldn’t invest your entire savings into a single stock or fund; diversication and risk management – many of the same principles of traditional investing, are required.
Mortgage brokers play a crucial role in helping individuals and families secure the financing they…
When it comes to real estate, timing is everything. By helping people connect with suitable…
In Montreal, a determined woman named Jana confronted a difficult phase in her life, marked…
When it comes time to take out a mortgage on a purchase project, most people…
Borrowing and lending: these terms refer to a financial transaction and are considered synonymous. However,…
When buying a property, most people rely on a mortgage. But once a house is…