The first real estate purchase with bitcoin is recorded in Colombia last week. A company called La Haus sold a property in Santa Marta to a buyer who was not in Colombia at the time of purchase. While Colombia is just starting to consider bitcoin for real estate payments, in neighboring countries such as Venezuela, using crypto for such transactions is becoming more common.
Colombia Launches Real Estate Buying With Crypto
After registering its first purchase with bitcoin, the real estate sector in Colombia has reached a milestone when it comes to cryptocurrency usage. La Haus, an online real estate company, Mediation In this purchase after receiving a reserve payment for 0.03 BTC a month ago. The purchase was recently completed by a buyer who was not in Colombia, so the operation was completed using the Lightning Network through payment processor Opennode.
The purchase comes nearly a month after the company announced it would accept bitcoin for reservations and payments for each apartment in Natura City, a development located in Santa Marta set to sell 160 units.
crypto for real estate payments
La Haus officials said they are working to expand and use these payments for development across the country. To this, Jehudi Castro, La Haus’ Vice President of Future and Innovation, said:
The fact that it only took a month for this type of transaction to take place in Colombia speaks to the unsatisfied need that existed. We are working to bring this type of option to the rest of the country so that payment modes and investment modes do not hinder access to residential property.
However, this is not the first time La Haus has completed cryptocurrency-based purchases. The company, which also has operations in Mexico, recorded its first crypto purchase in January, when a property in Mexico was acquired by a woman living in Peru.
Cryptocurrency buying in the real estate sector is also becoming more and more common in LATAM countries such as Venezuela, where cars and some properties are being sold for USDT. Last year, one of these purchases took place in a coastal state in the country, where a buyer used USDT to acquire an apartment for $12,000.
What do you think about the use of bitcoin and other cryptocurrencies as a method of payment for the purchase of real estate? Tell us in the comments section below.
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