Posted by Maria Arias on September 04, 2017 | | 0

Real estate and Bitcoin: Buy everything you want is possible now!

The growth of trade in Panama in recent years has managed to captivate more investors every day, multiplying sales and positioning itself as one of the countries with the highest investment rate.

The real estate market in Panama has managed to position itself in a very positive way, many people who invest in this beautiful land daily. At TDI Real Estate we are ready to clarify all your doubts about the avant-garde issues in terms of properties, goods, services and one of the options that is setting standards today, it can not be other than the fabulous criptocurrency called Bitcoin . Are you ready?

In Panama you will find a great diversity of properties, every year the development of urbanisms and the continuous investment in luxury buildings turn the country into a cosmopolitan paradise. Buying a real estate property is definitely an excellent investment, especially for those who wish to grow economically in the country and have their own home. 

When purchasing our goods we are accustomed to traditional payment methods, perhaps a check, use of debit or credit cards, transfers or bank deposits or even the same cash; however, digital coins for the year 2017 have grown from a very fast pace. Little by little this new economy is reaching the mass market and several people begin to have their first electronic coins. According to experts in the field, a product that has increased its initial value in 2009 from 0.00076 $ to 4.603 $ by Bitcoin in just 7 years, is an invention that will change the world economic system. Do you know all about Bitcoin?

Bitcoin is a virtual currency that "implies some kind of incomprehensible computer code, cryptography and mathematics". Beneficiaries and consumers need an electronic wallet to receive and pay for these transfers. The operations are verified through the "Bitcoin" network. Currently there are just over 10 million Bitcoins in circulation today. This one began to gain fame before the restrictions to take money from the banks, since then it has been in ascent.

Well, surely you already know some characteristics of this digital currency, you may already be an active user of this method, or perhaps you are interested in managing it; Whatever your case you need to know some important information regarding the acquisition of properties. Let's see!

Is it possible to buy or rent a property with Bitcoins?

The answer is: Definitely yes! In the United States and Panama many people accept bitcoins as a currency of payment for the purchase and sale of a property, especially for apartments and luxury homes in some of their important cities. In Spain they have already begun to implement the possibility of paying a property with this cryptocurrency. This method is growing, every day are more people interested in using it in the purchase or rental of their properties.

What advantages do I have when using Bitcoins in the real estate sector?

A great advantage of using Bitcoins in the real estate sector is that financial institutions and economic authorities are not involved and thus avoid additional costs such as those generated in trades traditionally carried out through a bank. The control of the cryptocurrency is carried out by the users themselves through their transactions, they have absolute control of their operations. Very good, right?

Are there disadvantages when using Bitcoins in the real estate sector?

Like any method in the world, it can also have some disadvantage. There are certain doubts in the use of the same, since, as well as increases its value, it can also go down and it is a bit incomprehensible to sell a high value merchandise (a property), using a currency whose value is so volatile. To address this observation, sellers who are marketing their properties in Bitcoins should ensure that the price of this is determined by the average exchange rate on the day the sale closes.

On this occasion we will quote Ragnar Lifthrasir, founder of the International Bitcoin Real Estate Association, which he stated in an interview for the OOP Today website: "We have reached a critical point at this moment, where the real estate industry must make the decision to use Bitcoin technology in its offers, applications and creation of new companies. Unlike the banking sector, real estate does not face regulatory obstacles to using Bitcoin. The technology is mature enough. Everything is ready for adoption. "

Interesting words! We must adapt to change and evolve. At TDI Real Estate we are in the forefront of technology and we are committed to our clients to advise and support you in acquiring, selling and renting your real estate properties in Panama. Do not hesitate to contact us, we are waiting for you!