Your browser doesn’t support frames. The seller wanted the bitcoins converted to dollars, so they used BitPay , a global bitcoin payment service provider, to complete the transaction. An award-winning team of journalists, designers, and videographers who tell brand stories through Fast Company’s distinctive lens. However, make sure you trust the second party if you’re thinking of buying into real estate.
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In April, Hongcai sold bitcoin in the U. His Rolls-Royce, also purchased with the fruits of bitcoin arbitrage, sits in the driveway close to a small chives garden. As Chinese regulators clamp down on industry business on the mainland, crypto millionaires are turning to foreign real estate markets to diversify their holdings. Some purchase property directly with crypto, others like Hongcai use bitcoin to gain foreign currencies without going through a bank. The founders of the U.
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Forget real estate on-the-blockchain. Looking closer, many similarities do exist between Bitcoin and real estate. Moreover, Bitcoin introduces some unique advantages that will surely come in handy in an increasingly digital world. First and foremost, Bitcoin is scarce just like physical property. Block reward halvings will continue reducing emission asymptotically until
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In April, Hongcai sold bitcoin in the U. His Rolls-Royce, also purchased with the fruits of bitcoin arbitrage, sits in the driveway close to a small why buy real estate with bitcoin garden. As Chinese regulators clamp down on industry business on the mainland, crypto millionaires are turning to foreign real estate markets to etsate their holdings. Some purchase property directly with crypto, others like Hongcai use bitcoin to gain foreign currencies without going through a bank.
The founders of the U. Chinese investment in foreign real estateoften through Hong Kong brokers, has been rising for years. Now early bitcoin adopters are utilizing new wealth for familiar patterns. According to Karayaneva, the U. They want to have parts of their assets abroad in more stable countries. Since estaate like Propy are compliant across jurisdictions, the reason behind this trend may go beyond tax evasion, speaking to real pain points in legitimate markets.
All things considered, Chinese buyers are hardly the only ones purchasing property with cryptocurrency. Door image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
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