We have come to an age where everything seems to be digital. Dubai has now opened up to the opportunity of buying and selling properties using Cryptocurrencies. It has been reported that some major developers in Dubai are accepting Ethereum and Bitcoins as form of payments.
But what exactly are cryptocurrencies?
Cryptocurrency or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. These assets allow the users and coin holders to proceed with transactions online that no longer requires cold cash.
Dubai is strategically connected to Northern Europe, Asia, Eastern Oceania and Western Americas. Easy to travel to and from by air, land or water, this vibrant city welcomes millions of new residents and tourists yearly. Dubai’s most elite properties is available for purchase by non-residents and foreigners. This might be one of the main reasons why cryptos are now accepted as a payment option for buying properties in the Emirates.
DAMAC Properties launched this perspective and is openly trading their properties for Bitcoin. Here is how they process their sales.
Select:
Take a look at their list of diverse properties in highly sought-out locations and select the one that you want to buy.
Transfer:
Transfer your cryptocurrency to make a full payment. Keep in mind that the value of the cryptocurrency should be equal to the value of the Dubai property in Dirhams.
Own: Our team facilitates a quick and hassle-free transfer of the property under your name. This way, you won’t need to wait to enjoy the ownership of your house, villa, apartment, or commercial space without any delay.
