Technology

With bitcoin, ether and dogecoin a property was bought in Chile

Key facts:
  • The real estate company plans to sell more homes with bitcoin and other cryptocurrencies.

  • In Colombia, Mexico and Venezuela, buying homes with cryptocurrencies is a reality.

A house was purchased in the south of Chile using bitcoin (BTC), ether (ETH), a cryptocurrency native to Ethereum, and dogecoin (DOGE) as a means of payment.

Although the identity of the owner is unknown, what is known is that it was a young Chilean who for 3 years he saved on digital assets. The acquisition was made at the end of last year, but it was not until now that the purchase was announced.

The property is located near the ski slopes of the Llaima volcano and the Conguillío National Park, in the city of Temuco, newspaper El Mercurio reported.

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The price of the house was not informed, but it is known that in the area there are lands with values ​​that are estimated between 20 and 60 million Chilean pesos, which represents between 0.6 and 1.8 BTCat the current market price, according to the CriptoNoticias price index.

real estate-chile-buy-cryptocurrencies
Properties in the area where the house was purchased have prices ranging from 0.6 to 1.8 BTC. Source: CriptoNoticias.

The RE/MAX real estate company was in charge of the sale and the payment was made through the Cryptomarket cryptocurrency exchange. This platform operates Argentina, Brazil and Chile.

Joan Sandoval, a RE/MAX real estate associate, disclosed that the company has “at least five clients evaluating” making buying real estate with cryptocurrencies through Cryptomarket.

According to Sandoval, transactions are made through digital brokers that are “industry standard and validated in highly competitive markets. They are traded on the Dubai and Hong Kong stock exchanges” and they comply with protocols “that prevent money laundering, as we are being very strict in this regard.”

Although bitcoin is not legal tender in Chile, could become the second country in the world to take an initiative similar to that of El Salvadorif a proposal presented to the Constituent Commission by the Association of Cryptotechnologies becomes a reality, as CriptoNoticias reported earlier this month.

The project is divided into three main axes: bitcoin as legal tender, blockchain for public data management, and decentralized finance to eliminate inequality.

Sale of real estate with bitcoin in Latin America is a reality

More than a myth or a rumour, there are more and more people who invest in bitcoin and who in turn acquire properties with the cryptocurrency. This is a trend that is booming in Latin American countries.

Earlier this year, CriptoNoticias reported that the company La Haus sold an apartment in Tulum, Mexico’s Riviera Maya, which was paid for with the main cryptocurrency of the market as a means of payment

The same company, at the beginning of February, made the first sale of a home in Colombia with bitcoin. The Natura City housing project will be built in Santa Marta, a coastal area recognized as a tourist, cultural and historical district in that South American nation.

Venezuela is another country in the region where real estate has also been sold with cryptocurrencies.

In August of last year, this outlet reported that a young Venezuelan used his savings to buy an apartment with the stablecoin Tether (USDT) for USD 12,000. The transaction with the stable currency for the sale of the property, in the east of the country, was carried out through the Binance exchange.

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