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Data Shows The Top Three Nations To Buy Real Estate With Crypto

With the mainstream adoption of crypto assets, the fintech industry is rapidly flourishing, with several sectors accepting crypto payments. Accordingly, the real estate market is evolving to accommodate a new group of investors who are crypto enthusiasts and prefer the option of using digital assets as a payment method.

The Boom in Real Estate Crypto Investment

Investment in real estate using cryptocurrency became widespread in 2021 after the price of the leading crypto token, Bitcoin, exploded to its all-time high of $69,000.

Due to their global use, many countries have revised their real estate laws to allow property payment using crypto assets.

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According to Alexander Tkachenko, the founder of the VNX liquidity mining firm, the real estate sector has yet to tap the full capabilities of cryptocurrencies.

“There is a current unmet demand for alternative payment tools worldwide, but with the development of favorable regulations, both the crypto and real estate industries would be able to operate seamlessly.”

Scott Scherer, the CEO of Owners Unity, echoed Tkachenko’s opinion by stating that both the public and private sector players have realized that cryptocurrency is here to stay. According to him, investors are using crypto assets to trade more than ever due to their efficiency compared to traditional banks.

His firm, Owners Unity, allows homeowners to earn passive income from their crypto tokens via a decentralized finance (DeFi) system. Meanwhile, on-chain data shows that the countries below have the best crypto payment support for real estate purchases.

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Thailand

As one of the first Asian nations to legalize cryptocurrency, Thailand allows real estate buyers to make purchases using digital assets. However, investors looking to buy some properties must engage the services of accredited real estate agencies accepting virtual coins.

Despite the government previously banning crypto activities, policymakers lifted the ban in February 2014. Hence, the Thai Securities and Exchange Commission (SEC) oversees transactions in major tokens like BTC, ETH, XRP, and XLM, among others.

United Arab Emirates (UAE)

The Gulf nation is one of the world’s top havens for crypto-related business, with many international crypto exchanges setting up shop in the country. It is currently the go-to destination for crypto entrepreneurs, with its market growing rapidly enough to position the UAE as the leading crypto hub in the world.

The UAE’s strategy stimulates interest in virtual currency and increases adoption through deliberate investment and policies. With the integration of crypto and real estate, the authorities have opened up the country to global investors to accelerate its economic diversification plan.

Turkey

Digital asset adoption is currently high in Turkey, with more than 8 million Turks holding various crypto tokens. However, the country’s rising inflation is likely the trigger for the high adoption rate following the devaluation of the nation’s fiat currency, the Lira.

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As more people resort to crypto in transactions, real estate agencies have started using it as a payment option for property purchases. Furthermore, other countries that accept payment in crypto assets for their real estate sectors include Portugal, Montenegro, Georgia, and Canada.

But the adoption there isn’t as big as those nations mentioned above.


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Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

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