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Buy Real Estate With Bitcoin

buy real estate with bitcoin

 

Pros and Cons of Buying Real Estate with Bitcoin

Bitcoin is a digital currency; it is a decentralized ledger that facilitates digital transactions. It is the first of its kind, a decentralized peer to peer payment that is powered by a strong encryption and network of users and computers with no middlemen or central authority. In the users perspective is like cash for the internet. With bitcoin you can buy things using it or you can choose to accept payment with it. Having been created in 2009 it has expanded it uses having a lot of benefits and has a share of its disadvantages. They are created by people called the miners; they use their computers to come up with complex maths to ensure security for the money.

With its growth the questions for the people in real estate still remains, can you purchase a real house using bitcoin? The answer for many people will depend on the pro and cons of using bitcoin. But it is important to note that many real estate firms are accepting bitcoin as a means of payment. Below are pro and cons of using bitcoin.

Pros

Bitcoin ecosystem is rapidly evolving with additional innovations, service providers, merchant space and users. All this stakeholders can attest to the following advantages. The lack of intermediaries in transactions using bitcoins, such as banks, means no transactions fees incurred. Though there are some little charges from digital wallet companies and other providers. The transactions are anonymous so it is hard to track the person making it secure in one part. The transactions are very secure since bitcoin is based on a very strong encryption. Since it is a decentralized peer to peer network, there are no regulatory authority and government to control bitcoin. It is relatively simple, easy and straight forward to transfer money from person to person even internationally. This makes it easier to buy a real estate using bitcoin from all locations internationally.

Cons of using bitcoin

They are reasons as to why you should not use bitcoin. Which are losses; the traditional financial products have a very strong consumer protection unlike bitcoins. If you lose your money there are no intermediaries to help you track or find them. You end up making loses, if you buy a house and send it to the wrong person or a conman, there is no way of possibly getting it. Secondly, there is lack of applications; bitcoin is mainly known for drugs and gambling making it a concern of how well it can do commercially. You will wonder if it is applied in many fields, hence uncertainties of using it. It is highly volatile and it is not universally accepted despite is growing number of uses. It has a limited scaling in speed of downloading applications and mainly used for financing immoral and illegal activities.

It is a growing platform of virtual money and it would be good to try it in making transactions in real estate but great caution should be taken not to fall into any traps and incur loses that cannot be retrieved.

 

A Small Bitcoin Experiment

bitcoin experiment

 

If you are new to Bitcoin (BTC) and just curious what is all the buzz is about, you can simply purchase a very small amount like 0.002 BTC or 0.003 BTC then enjoy the Bitcoin experience. You can purchase small amounts of Bitcoins on ebay.

Before you purchase Bitcoins, you will need a wallet app for computers such as Bitcoin Core, or a mobile wallet app such as AirBitz, or a website such as the very reputable BlockChain.info. If you are interested in Bitcoins and would like to learn more, simply use your best friend: Google.

Here’s a few links for you from different sellers on ebay (please note that we are in no way affiliated with any of them, so the whole responsibility is on you):

Link 1 for 0.001 BTC (will cost you about $2.09)

Link 2 for 0.001 BTC (will cost you about $3)

Link 3 for 0.003 BTC (will cost you about $7.48)

Please read the seller’s requirements and terms & conditions before you make your purchase. Some seller will only deal with users with at least 15 positive feedbacks that have had their ebay account for certain period of times (usually 6 months), which is simply a security measure to reduce risks that come with buying Bitcoins with a reversible method of payment such as Paypal.

If you would like to buy a larger amount of Bitcoin, we recommend you try LocalBitcoins.com. The latter will allow you to purchase BTC either in person using cash or online using different methods such as Western Union, Moneypak cards, Bank deposit…and so much more. Who knows, you might even end up a Bitcoin junky, and start investing in this amazing technology. After all, many experts deeply predict that BTC will be a major player in the world currency market, and might worth hundreds of thousands  and up to a million dollars each.

Note: Please take all predictions regarding BTC with a grain of salt, because nobody knows for sure what the future has in store for Bitcoins.

 

What is Bitcoin?

what is bitcoin

 

Bitcoin is a decentralized digital cryptocurrency which is not controlled by any entity or government. It was first introduced in 2009 by someone under the name Satoshi Nakamoto, which is more likely a pseudo. The system that Bitcoin works on is a peer to peer, which enables transactions between two users without anyone else’s intervention. These transactions are verified by network nodes and are recorded on the blockchain which is available for the public. Bitcoins is a currency just like other real world currencies, the only difference is that is digital, while fiat is physical in shape of paper for bills and metal for coins.

Bitcoin is created using computers doing very complicated calculations. The process is called mining and the people or computer application generating those Bitcoins are referred to as miners. By discovering network nodes, miners are rewarded Bitcoins. In order for Bitcoin transactions between users to happen, mathematical problems will have to be solved by miners. There are many other digital cryptocurrencies in the market such Litecoin (LTC), Ethereum (ETH), Namecoin (NMC) but Bitcoin (BTC) remains the largest with a market cap of over $16 Billion. Unlike fiat money which is owned by the government and is usually stored in banking institutions, Bitcoin is free of any government regulations and is usually stored in digital wallets. These e-wallets are basically applications or third party websites that can be used to access the funds. They are protected by passwords and sometimes by 2FA which adds an extra form of protection against unauthorized access. You can use these wallets to pay with Bitcoins for services and other stuff like a pizza or cup of coffee, it works just like pulling cash out of your wallet.

The price of Bitcoins is very volatile, that means it keeps going up and down every few minutes. As of today, Bitcoin is worth over $1000. The Bitcoin network which is known as the Blockchain is believed to be unhackable. It is the individual wallets that can be hacked, so users should keep them secure at all times. It is worth noting that Bitcoin comes in a limited quantity, because that is how it was coded. The total number of Bitcoins that will ever exist is 21 million coins, minus all the bitcoins that were lost forever. Lost forever? you might be asking yourself. Well, if you lose your private keys, and don’t have a wallet backup, your Bitcoins will be gone forever. It is estimated that all of Bitcoins will be mined by the year of 2030.

What bitcoin and blockchain offer that no financial institution can afford is the extremely low transaction fees as well as speed for those transactions to take place. Let’s also not forget that Bitcoin transactions are virtually anonymous, which a lots of people that are concerned about their privacy really appreciate.

Many bitcoin experts and analysts believe that Bitcoin prices will be much higher than today’s, when the world adopt the digital currency and becomes mainstream. So only time will tell if  Bitcoin will be the next digital revolution.

How to withdraw Bitcoins to Cash

withdraw bitcoin to usd

 

Did you happen to have some Bitcoins accumulated over the years, and you now think it is the right time to sell them and turn them into real cash? It is not surprising that many people have saved Bitcoins since it was way cheaper few years ago, and now that the Bitcoin price is surging, it is a no-brainer for these people to seek ways to withdraw their Bitcoins into cash and spend it on things, such as paying for bills, buying electronics, properties, cars…etc, that would be otherwise difficult to purchase with BTC.

Bitcoin is the digital currency of the future, but it will be in several years till it becomes mainstream or accepted at retail stores, gas stations or restaurants. But till then, the only way to spend those coins is by first converting them to USD, Euro, GBP or other real world currencies. We usually get lots of questions from our readers, such as: “How to withdraw Bitcoins to Cash?” or “How to trade Bitcoin for USD?” If you are in the same situation, then continue reading.

Back in 2011, a bitcoin could barely buy you a slice of pizza, and now the price has multiplied by hundreds that can yield you serious cash. In order to save you lots of time searching on the internet, we already have done the research for you. So let’s cut the chase, and show you the top 5 exchangers where you can sell bitcoins for cash.

 

 5 Best Bitcoin to Cash Exchangers:

Check out our 5 top picks for the websites where you can sell bitcoins for cash:

 

1- CashBitcoins.net:  this website gives customers the ability to quickly sell Bitcoins and receive Cash in return. Unlike many other exchangers, you can withdraw Bitcoins into real money without having to provide any documents or personal details; thus, making it very anonymous. No sign up is required for customers to initiate the trade. Moreover, at only 5%, the fee to exchange your Bitcoins is among the lowest in the industry, which is very hard to beat. You will have the option to withdraw Bitcoins into cash, using the following payment methods: Paypal, Western Union, Moneygram and Bank transfer. Customers can cash in up to 25 Bitcoins per each transaction. No matter how you look at it, it is one of the best deals out there that you cannot ignore!

 

Our Rating: 4.5/5

withdraw bitcoin to cash

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2- LocalBitcoins.com: Is a recognized name when it comes to bitcoin trading. This is a peer to peer trading platform, which facilitates acquiring or selling Bitcoins for cash. Both buyers and sellers will be required to provide passport scan to prove their identity. LocalBitcoin.com is a major player when it comes to buying and selling Bitcoins. You can also meet people that are interested to buy or sell BTC locally, which is a nice touch. Cash deposit, Reloadit, Moneypak, Western Union, Moneygram, Paypal are some methods that can be used to receive the payment for your Bitcoins.

 

Our Rating: 4/5

sell bitcoins for cash

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3- Coinbase.com: It was founded in 2013, and it is among the best Bitcoin online exchangers. Their rates are good, but they only offer payment via Bank transfer, which can take a few days to process. Also, customers will be required to provide documents along with Social security number for verifications, which can be quite a turn off for many people.

 

Our Rating: 4/5

exchange bitcoin to paypal

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4- BTC-e: This one can be really difficult to use, due to the fact that customer are asked to provide documents prior to trading, such as bank statements, passport and/or driver’s license. This process can take really long. So if you are in a rush to sell your Bitcoin for cash, then we don’t recommend this one. But the moment your account is verified, you will enjoy many benefits such as trading BTC for Cash or other cryptocurrencies such as LTC, ETH, DSH and NMC.

 

Our Rating: 3.5/5

how to sell bitcoins

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5- E-Bay: You might be surprised to see ebay making it on this list. But the fact of the matter is that it is used by many traders to sell their Bitcoins. This, however, does come with some serious risks that can leave you with no coins if something bad is to happen. For example, if someone uses a hacked/stolen Paypal account to purchase Bitcoins from you on ebay, then the real account holder opens a dispute for unauthorized transaction, chances are you will lose the dispute, add that to the fact that Bitcoin transactions are irreversible. To protect yourself against this, you can greatly limit the amount of Bitcoins you can sell for each individual, and avoid dealing with brand new users.

 

Our Rating: 3/5

how to withdraw bitcoins