The usage and popularity of cryptocurrency is rising all around the world. The speculative nature and the frequent change in value keeps it in headlines almost everyday. Due to the popularity and increasing demand, Cryptocurrency is making its way to Dubai Real Estate. Find out what to expect during real estate transaction with cryptocurrency. Click here to find which Dubai Developers are currently offering crypto transaction.
Real Estate transaction with Cryptocurrency
The cryptocurrency has recently plummeted in its value and this has lead to major bothersome in numerous investors. Despite its inconsistency in value there are investors ready to take the risk and take a leap. Some developers in Dubai have initiated plans to incorporate cryptocurrency in real estate transactions. The price of crypto has slumped very low and this has kept many pinned on the needle as to how to derive profit out of crypto. The developers who are willing to accept crypto will for a real estate transaction will settle for equivalent number of crypto that matches the actual amount required during a particular real estate transaction. As soon as the transaction is complete the developers will change bitcoins into cash position due to its increased volatility and this gives zero risk to developers. The transaction using crypto will take only few seconds for both parties. Dubai developers incorporating crypto will change the real estate market to a whole new extend and it will become more digitalized. Developers in Dubai is offering a 5% discount when people are willing to purchase property using crypto.
The Bitcoin Future in Real estate
As long as the crypto is accepted there will be demand and there will be a lot of anticipated real estate transaction taking place using bitcoins or any other crypto. Once the crypto is used widely in UAE, it will speed up the whole mortgage process and it will also reduce fraud as no one will be able to forge any documents. The millennials who grew up in a digitalized world will have preference towards crypto for any transaction and this will lead to lot of industries incorporating crypto in their transactions. Young affluent millennials are attracted to bitcoins and any transaction using it and therefore in a 5 to 10 years time there will be a major transformation and high usage of crypto to acquire assets. Dubai will be completely block chain by 2020, this will incorporate greater transparency, higher accuracy and credibility during transactions. All real estate payments will be done online and there will be time stamp signatures. The digitalization of Dubai will favor crypto investors allowing a safe and secure real estate transaction using crypto.
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