The Explosion of Cryptocurrency Investment in Real Estate

After the price of the major cryptocurrency token, Bitcoin, skyrocketed to its all-time high of $69,000 in 2021, broad adoption of cryptocurrency as a medium for real estate investment followed shortly thereafter.

Because of their widespread use, the laws of a number of nations have been updated to permit the use of crypto assets to pay for real estate transactions.

Alexander Tkachenko, who is also the creator of the company that is responsible for mining VNX liquidity, believes that the real estate industry has not yet utilized the full potential of cryptocurrencies.

There is now a need for alternative payment mechanisms all around the world that is not being satisfied. However, if favorable legislation were to be developed, both the cryptocurrency industry and the real estate industry would be able to function without any hiccups.

The Chief Executive Officer of Owners Unity, Scott Scherer, concurred with Tkachenko's viewpoint and stated that participants in both the public and private sectors have come to the conclusion that cryptocurrencies are here to stay. According to him, investors are making greater use than ever before of crypto assets to trade due to the efficiency of crypto assets in comparison to traditional banks.

By utilizing a decentralized finance (DeFi) system, his company, Owners Unity, makes it possible for homeowners to generate a passive income from their crypto tokens. The nations listed below have the best support for cryptocurrency payments for the purchase of real estate, according to data found on the blockchain.

Thailand

Thailand was one of the first Asian nations to legalize cryptocurrencies, and as a result, the country now permits buyers of real estate to pay for transactions using digital assets. However, investors who are interested in purchasing certain properties are required to use the services of real estate agents that are accredited to handle virtual currency.

In spite of the fact that the government had previously prohibited operations using cryptocurrencies, officials decided to relax the restriction in February of 2014. As a result, the Thai Securities and Exchange Commission (SEC) is in charge of monitoring transactions involving significant tokens such as Bitcoin, Ethereum, Ripple, and Stellar Lumens, amongst others.

Emirates of the United Arab League (UAE)

Numerous international cryptocurrency exchanges have opened up shop in the Gulf nation, making it one of the most desirable locations in the world for conducting cryptocurrency-related business. It is now the most popular location for crypto entrepreneurs, and its industry is expanding at a rate that places the UAE in the position of becoming the most important crypto center in the world.

The United Arab Emirates' policy encourages more people to use virtual currencies by investing more money in the sector and passing rules that encourage its use. The government has made the nation more accessible to investors from across the world by facilitating the incorporation of cryptocurrencies and real estate markets into the overall economic diversification strategy.

Turkey

There is a significant rate of adoption of digital assets in Turkey at the moment, with more than 8 million Turks holding a variety of crypto tokens. However, it is possible that the high adoption rate that has followed the depreciation of the nation's fiat currency, the Lira, is being caused by the growing inflation that is occurring in the country.

Real estate organizations have begun accepting cryptocurrency payments for the purchase of properties as the use of cryptocurrency in financial transactions continues to grow. In addition, Portugal, Montenegro, Georgia, and Canada are among the other nations that allow payments to be made in the form of crypto assets inside their respective real estate markets.

However, the rate of adoption is significantly lower in that country in comparison to the nations indicated before.