WITH CRYPTOCURRENCIES, YOU CAN NOW BUY A PROPERTY IN DUBAI

 


You would have learned about the word 'crypto currency' in the past few years if you had not lived under a rock. A worldwide movement has been this modern internet-based currency. And now- you can buy your dream home using Bit coin or Ethereal for the very first time in Dubai!

What are cryptocurrencies?

Cryptocurrency comprehension is not straightforward. Cryptocurrency, to put it plainly, is digital cash for the digital age.

It exists digitally only, unlike ordinary currency. Its value is dependent on supply and demand, and cryptocurrencies are controlled by a network of machines operating open-source code, unlike most currencies managed by the government. You can view your account as long as you have a smartphone or another gadget that connects to the internet.

Cryptocurrency now has the power to trade money in the quickest, simplest, cheapest, safest, and most universal way, and that's what gets the world so excited.

What does cryptocurrency imply in this news?

Although cryptocurrency has been a hot topic for a couple of years now, it has never before been used as a payment option for real estate property. No doubt, this creation would help legitimize this digital currency further in the general public's eyes. It could see its worth increase even more, too (since its value is based on supply and demand).

What developers do cryptocurrency accept?

Emaar, one of the top Real Estate Developers in Dubai in the UAE, recently announced that they will now consider cryptocurrency for all their assets as a payment.

As this new form of payment is expected to further fuel the real estate market in Dubai, other developers are also in talks to enter this trend, especially because there are several Bit coin millionaires who would be keen to turn their digital assets into tangible ones.

How does this work?

For quite some time now, Dubai has been ahead of the limit when it comes to emerging technology. And this latest campaign from Emaar is likely to further help this idea. But there are some important considerations to note.

Emaar said the preferred payment option is still in UAE dirham’s or US dollars, but the exchange process will be done by 'Bit coin Suisse', which is one of the world's largest digital currency traders. Any buyer interested in buying a property from Emaar using Bit coin will be recommended to do so by Bitcoin Suisse. In Developers in UAE dirham’s, the Bitcoin/Ethereal value will be transformed to the property's value and then moved to Emaar to complete the exchange.

MORE FIND OUT:

The price of a Bitcoin might drop dramatically at any given moment, as cryptocurrency owners know. So if you are interested in turning your cryptocurrency into a stable physical possession, contact one of our agents today to find out more about all the options open to you in the form of a dream home or apartment.

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