Use Bitcoins In Real Estate
The real estate market is at the leading edge with several issues. Like Bitcoins. Although Bitcoins usage might not yet be common, they are used in the industry and it’s crucial to recognize the danger and benefits Bitcoins pose. Learn more about them at bitcoinmaximalist.ne
What Bitcoin is?
The Bitcoin (BTC) was originally introduced in 2009 and is considered a crypto currency. Although not widely accepted (yet), the use of Bitcoins is becoming more widespread as many Bitcoin enthusiasts believe that Bitcoin is a government-proof currency (note that last year the IRS announced that it considers Bitcoin as a “personal property” for tax purposes). In fact, certain financial officials have a negative opinion of the digital currency as they believe it may be a tool for illegal behavior.
It is not an official currency. Instead, Bitcoin is created by ‘mining’ that is a machine process and unregulated internet-based exchanges facilitate the electronic trade of the crypto currency. Since Bitcoin is not controlled by either federal or central bank, most retailers do not recognize the virtual currency. Although the Bitcoin might not be standard practice quite yet, a increasing number of real estate listings are starting to announce that they are embracing the virtual currency.
A few countries take the lead in embracing Bitcoin. China is currently experiencing the biggest Bitcoin exchange while Japan and Europe are also seeing increasing popularity in Bitcoin usage.
The Bitcoin market can be volatile on the Bitcoin currency market, and has already experienced many highs and lows. As an example, on 1 January 2013, a single Bitcoin could have been bought for $13.30. Then, the Bitcoin should have traded for $1,150 on December 4th, 2013! Non a poor investment gain. But the Bitcoin business hasn’t been so fortunate for anyone.
The Securities and Exchange Commission held an eye on the Bitcoin and released a alert in May 2014 which stated: “The growth of Bitcoin and other virtual and digital currencies raises new issues for investors. A new commodity, technology or invention-such as Bitcoin-has the ability to give growth to both fraud and high-risk investment opportunities.” Since it has no inherent value, the Bitcoin is for the most part not a suitable investment option. For example, a computer hacker can rob an owner of all the Bitcoin currency. And, because of the price risk, many caution that Bitcoins investment can only be in limited quantities, if any, so that a big value change will not adversely affect someone’s livelihood.
A number of online merchants start adopting Bitcoin as an appropriate means of payment. Tesla.com is one such enterprise. Some property management companies in larger cities also accept Bitcoin as a form of rent payment for tenants with the advantage that the currency can’t bounce like a check can.