Spanish Real Estate Agency Begins Accepting Bitcoin Payments for Properties in the Canary Islands

Spanish Real Estate Agency Begins Accepting Bitcoin Payments for Properties in the Canary Islands

Knowledgebase
22/04/2021 by Koinal
129
The real estate industry in Europe is meeting with the world of cryptocurrencies. Recently, a Spanish real estate agency in the Canary Islands announced that the customers can now make their payments with cryptocurrencies.
Spanish Real Estate Accepting Bitcoin

The Tenerife-based firm, Piso Barato Inmobiliaria, acknowledges the increasing popularity of bitcoin (BTC) and claims that it is becoming the “primary currency” in the global exchange actions. Therefore, the agency has chosen to update itself and accept BTC payments from the customers who acquire properties in the Canary Islands.

The agency makes it possible to buy a real estate property with BTC. It assures that this will contribute to expanding the number of potential buyers on the international level. This development will also boost the real estate market in a broader sense.

Even though the update is about “cryptocurrencies,” Piso Barato Inmobiliaria mainly refers to BTC in their announcement. The firm states that BTC payments are advantageous for several reasons: they are tamper-resistant, they do not require any mediator: therefore, there is no commission and no transfer cut, they are decentralized finance forms and thus they avoid any control or intervention by the governments or companies, they make the process fast and smooth.

The agency adopted cryptocurrency payment as a part of its long-term strategy. Piso Barato Inmobiliaria aims to reinforce this expanding trend of the real estate market in the Canary Islands and attempts to secure their position by adapting the transforming terms and conditions of the market.

Just one month ago, another real estate company in Spain, Idealista, made its first-ever offer for a cryptocurrency payment. The unique apartment in Barcelona will be possible to be purchased only with BTC. The Spanish real estate market used BTC for the first time in 2018; however, today, cryptocurrency’s growing popularity shows a remarkable effect. And the agencies are jumping on the bandwagon one after another! 

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