Real Estate Industrysees the trend of Cryptocurrenciesfor exchange
Bitcoins entry to the mainstream economy has now changed the buying pattern of real estate buyers. Many homebuyers and sellers are starting to use the cryptocurrency to conduct real estate transactions.
In the earlier year, Southeby’s International Realty sold one of the first single-family homes in Austin, Texas using Bitcoin. The home was sold in September 2017 when Bitcoin prices were $3,429. A 27 acre piece of land in Silicon Valley has been listed for the sale in Bitcoin, Ether and XRP with a starting price of $16 million. Similar to these many other residential real estate properties are being listed for Bitcoin as well.
Some believe that using Bitcoin for real estate transactions will not result in widespread adoption, until the real estate industry starts to utilize blockchain technology which would ultimately drive the adoption of cryptocurrency transactions.
There have been both positive and negative thoughts on cryptocurrency use in Real Estate Sector but its clesrly seen that its use have been done profusely.