• Spain is the hottest country in terms of cryptocurrency real estate offerings.
  • The report found that Spain has 289 properties available to purchase with crypto.
  • The study discussed the benefits and problems associated with transferring a property for crypto.

Spain: Hotbed for Cryptocurrency Real Estate Deals

A recent study by Forex Suggest examined which countries had the most properties on sale for cryptocurrency. The results showed that Spain was at the top of this list, with 289 properties available to purchase with crypto. Furthermore, Thailand, Portugal and UAE were also among the countries offering a substantial number of real estate listings for sale using cryptocurrency.

Properties With High Prices in Canada

The report also disclosed that the most expensive prices of properties available to buy with crypto were seen in Canada, averaging around 250 bitcoin per property. On the other hand, Philippines ranked as having one of the cheapest prices per property, averaging just over 15 bitcoin. El Salvador had an average price of close to 40 bitcoin per property.

Benefits and Challenges When Paying With Crypto

Real estate purchases made using cryptocurrency come with both benefits and challenges associated with them. Some advantages include avoiding extra costs related to fiat currency payments and transfers, especially when dealing with overseas locations. However, some problems remain such as limited access to mortgage lenders willing to accept cryptocurrency as a deposit and stricter regulatory frameworks in certain countries like U.K., which might add additional paperwork requirements during this process.
First Recorded Real Estate Sale Using Crypto In August 2021, one of the first reported real estate sales paid in crypto happened in Venezuela, where 2 million bolivares (around $50) worth of Bitcoin was used to complete the transaction successfully. This event marked an important milestone regarding acceptance of cryptocurrency as payment method worldwide for real estate transactions.
Conclusion Crypto payments are gaining more acceptance each day within different markets worldwide including real estate industry by providing faster transactions combined with lower fees compared to traditional methods like fiat currency payments. As more people become familiarized with cryptocurrencies and their underlying technology this trend is expected to continue growing steadily over time.

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