You can pay for foreign real estate using cryptocurrency, a method that is becoming increasingly common.
The modern real estate market has undergone significant changes in recent years. With the advancement of technology and the impact of the pandemic, remote real estate purchases have become routine. Most transactions are now conducted online, and payments are increasingly made using cryptocurrency.
Advantages of Using Cryptocurrency for Real Estate Payments
Cryptocurrency is a decentralized digital currency that operates independently of governments and banks. Transactions are conducted through independent crypto exchanges using blockchain technology, ensuring transparency and security for all operations.
Today, there are over 2,000 different cryptocurrencies. Although Bitcoin remains the most popular, other widely used and convenient options are also available.
Features of Purchasing Real Estate with Cryptocurrency
In several countries, such as the UAE, Turkey, Northern Cyprus, and others, buying real estate with cryptocurrency has become common practice. Transactions using cryptocurrency are similar to standard procedures for buying and selling with cash or bank transfers.
The transfer of cryptocurrency occurs instantly and is significantly faster than traditional bank transfers, with minimal transfer fees.
In the Republic of Turkey, the use of cryptocurrency is not prohibited and is actively employed in real estate transactions. Buyers can expect confidentiality and protection of their transaction information, as well as favorable transfer conditions compared to SWIFT payments.
How to Conduct a Cryptocurrency Transaction in Turkey
If you plan to purchase real estate using cryptocurrency, simply inform your personal manager at Stay Property. We are ready to answer all your questions and help organize the transaction at every stage.
Full payment is made before the re-registration of the property title deed (TAPU), but there is no need to worry.
Main Steps of Real Estate Payment with Cryptocurrency:
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After selecting a property, the amount in cryptocurrency is calculated based on the current exchange rate.
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The virtual money is transferred to our company’s electronic wallet, and the amount in traditional currency is agreed upon in the contract.
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Next, the cryptocurrency is sold, and the cash is received into a Turkish lira account. If necessary, it is converted into dollars or euros for transfer to the seller’s account.
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The final step is the issuance of the TAPU in the buyer’s name at the Land Registry Office.
Each of these steps is overseen by our manager, providing you with full support throughout the transaction.
Advantages of Working with Cryptocurrency
We use the cryptocurrency USDT, and most of our recent transactions have been conducted using cryptocurrency. It is the fastest and most profitable payment method. For those unfamiliar with the process, registering on an exchange like Binance takes 1 to 3 days. Afterward, you must undergo verification and gain access to P2P transfers on the exchange, ensuring transaction security through escrow accounts.
Payment can be made through any bank or Qiwi, and in some countries, cryptocurrency ATMs are available for account top-ups.
Conclusion
You can buy real estate with cryptocurrency, and the practice of using cryptocurrency as an instant money transfer tool is widespread. The process of paying for real estate with cryptocurrency is simpler than it seems. Even if you are new to the world of cryptocurrency, our managers will help you navigate all the nuances and complete the transaction as quickly and profitably as possible.
Contact us to learn more about purchasing real estate in Turkey, Dubai, or Northern Cyprus. We also offer offline consultations at Stay Property offices in your country. Contact us via the chat window on our website.