Digital Currency in the Real Estate Industry
The age of technology is generating new trends for every business around the globe and it would not be wrong to say that real estate is one of the businesses to welcome technology with both hands. The development of smart contracts, security tokens, online crowdfunding platforms has taken the real estate market right at the top. Cryptocurrencies are a game changing invention for the real estate industry and appearance of Digital Currency in the Real Estate Industry or introduction of bitcoin, litecoin, ethereum, etc has ended the days when only the elites could invest in real estate. Blockchain is the technology these are built on. The way cryptocurrencies are increasing the speed of response times, it is safe to say that they are the future of every transaction.
Investing in real estate through crypto is not only easier but it has many prominent advantages as well. The transactions conducted through digital currency are recorded on the blockchain. Blockchain’s decentralized data storage system is the ultimate guarantee to more secure and efficient transactions and its immutability doesn’t let the data to be hacked or altered. Only the people involved can make any changes. Blockchain-based smart contracts allow real estate assets to be tokenized and traded like cryptocurrencies on security exchanges.
Real estate investment is not accessible for regular people under traditional methods. If someone wants to invest in another country’s real estate project, there are barriers like applying for a visa, passport, allowance from that country’s government, etc. Blockchain overcomes such barriers as it provides transparent access to real estate projects worldwide. If someone wants to invest in an international project, they just need to fill out an online form and transfer money using digital currency from their digital wallets.
Entry costs do not require thousands of dollars anymore which is the reason anyone is able to invest in real estate now. You can invest with only a few thousand dollars in a real estate project in any corner of the world and become a fractional owner by owning a specific share of a property. Tokenization enables the share to be traded in a secondary market just like bitcoin or any form of digital currency and profit over that share is transferred in the form of cryptocurrency into your digital wallet.
Purchasing an international property could take you at least 6 months and it might take you forever to close a deal under traditional real estate business. Due to such lengthy procedures, the returns get lower and beneficial opportunities are missed. Transactions conducted through digital currencies are ultimately safer and faster than traditional investments. With an active internet connection, transferring money to a suitable project has become a matter of just seconds. Investing through blockchain allows you to diversify your portfolio by region and the opportunity to move your money towards residential, commercial and rental projects. In this way, you can invest your Digital Currency in the Real Estate Industry into different classes of real estate.
Vairt is an online crowdfunding platform for tokenization and liquidation of the real estate assets through blockchain. You can invest in any real estate project throughout the world with our platform and get the best customer service experience.