buy a house with you Bitcoin (BTC) luck? In Portugal this is possible! A few days ago, it became known that someone had bought a house in the Portuguese city of Braga and paid for it in Bitcoin. In addition, bitcoins are not automatically converted into euros or another fiat currency. This is the first time something like this has happened in Europe.
Buying a home with bitcoin
This was an apartment. The apartment was bought for only 3 bitcoins, and it was converted into just over 110,000 euros. Portuguese real estate company Zome in collaboration with Crypto Valley from Switzerland, among others, has ensured that everything goes according to the rules.
Zome released a message about the sale in Facebook† They argue that the company is on the front lines of cryptocurrency and web 3 The case of adoption and the sale of the apartment is a good example of this.
“This act marks a historic milestone, the transformation of a digital good into a physical good – a house – without any conversion into euros. We believe that a new world of potential real estate business will open today!”
Carlos Santos, CTO at Zome, said the deal has the potential to open up many new opportunities for the company. It shows the world that encryption and Web3 really are a file use case This way a lot of new value can be created in Portugal, says Santos.
new regulations
Previously, it was always mandatory that when buying a piece of real estate with cryptocurrency, these digital currencies are instantly converted into fiat currency. But a while ago, the Portuguese government changed this. From that moment on, it was also possible to pay directly with cryptocurrencies and the seller was allowed to continue holding these cryptocurrencies.
Even brought a Portuguese salad framework Offshore where buyers and sellers should consider if transactions are made entirely using cryptocurrencies.
