The transaction with the stablecoin Tether happened through the Binance exchange. The process received validation from a local real estate agency, which also appears in the public registry.
A Venezuelan user used the stablecoin called Tether (USDT) to purchase a property for at least $ 12,000 and then gifted it to his mom. The transaction with the cryptocurrency for the sale of the property happened in the Anzoátegui state, which is about 217.48 miles west of Caracas.
The parties involved used the Binance exchange to send and receive the funds. Carlos Grau, operational manager of the real estate company Grau, informed the property is in the Ciudad Bahía residential complex in Barcelona.
Grau explained that an operation of this kind takes between eight and ten active days because the user has to send a letter announcing that the funds will reach their destination. However, when using cryptocurrencies the transaction happened immediately. Two phones were the tools that helped close the deal to avoid possible risks of fraud or scams. Every single user manages their own money.
The spokesperson also explained that the real estate market in eastern Venezuela is getting closer and closer to cryptocurrencies due to a handful of new benefits. In this case, it would be one of the first operations led by a real estate agency. Other properties such as land, sheds, or houses are also for sale with digital assets.
Although the operations for the sale of real estate are already beginning to happen with cryptocurrencies, it is vital to know that in the document addressed to the public registry, the amount of the transaction must be in bolivars. Another alternative would be to write the amount in Petros (PTR), but the registries are not allowing it that way.
Owners are also Friendly With Bitcoin Operations
Real estate brokers inform interested users about the possibility of using various cryptocurrencies. Those users who own bitcoin (BTC), can request information about payment methods. The request can happen through exchanges or direct transactions between wallets.
The advice offered by the promoters is to minimize the risks of volatility, use stable cryptocurrencies or stablecoins with parity 1: 1 with the United States of America dollar or with the euro. Binance is not the only option when it comes to trading. There is a bunch of possibilities to explore other options for buyers.
In some web pages specialized in the sale of real estate, it is possible to observe offers of properties that accept bitcoin as a form of payment. A handful of these homes are in various cities in Venezuela.
Other similar events are happening in other latitudes, the commercialization of real estate is also approaching cryptocurrencies. In Argentina, the offer of houses, apartments, and other properties in exchange for bitcoin and other cryptocurrencies is also increasing.
By: Jenson Nuñez
