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What is a virtual currency and what can you do with it?

In a brief and for easy understanding, Cryptocurrency is basically digital monetary units that are non-centralised for today. The biggest benefit of cryptocurrency is that financial transactions are not regulated by banks or the government of any country but this tendency has changed now. For making the purchase and sale of e-money people use so-called crypto-exchanges which are operating all over the internet and where virtual contracts are made based on blockchain technology (a register that simplifies the process of recording transactions and accounting for assets). At present, based on official statistical data, around 2,000 types of cryptocurrencies are available, including Bitcoin, Litecoin, Bitcoin Gold, Stellar and many others.

Nowadays, Bitcoin is the most widely used virtual currency. From the moment the virtual coin appeared in the middle of 2009 until today, Bitcoin is mostly like the US dollar, and has become a global means of payment in the majority of the world’s countries. According to some financial analysts, a significant part of the profits comes from brokers that use BTC.

It is worth noticing that Bitcoin is a very volatile currency. It means that during a short period of time, the price of Bitcoin can be significantly volatile in different directions –  up or down on the forex market trading. More volatility of the rate – the higher the risks for the investor can be occured. Anyway, due to these volatility changes predictions or smart market analytics, any investor can make a profit from trading volatility. While crypto is widely perceived to be rather risky, demand to own virtual assets is growing by the day.

What is the process of purchasing property for cryptocurrency?

As already noted, properties for sale using digital currency are actively growing in importance among investors in countries in the global developed world.  The Netherlands, the United States, Switzerland, the United Kingdom, Estonia and other countries are now officially allowing Bitcoin as a method of payment.

At the moment, the use of e-money is not banned in the Republic of Turkey, instead, it is being actively promoted and is becoming more and more popular and is being developed at the state level. Meanwhile, there is no clear legal regulation of cryptocurrency transactions in the field of property for sale in Turkey. Also, while virtual assets have not yet been given the status of an official means of payment in Turkey, many real estate companies are encouraging such payments.

Typically, a cryptocurrency deal is very similar to the typical cash sale procedure. The key difference between purchasing and finding property for sale in Turkey with e-money is the full payment in cryptocurrency and its conversion into real money occurs up until the TAPU (certificate of ownership) is re-registered.

In order to be able to buy property for sale in Turkey for cryptocurrency, the only important requirement is that both parties to the transaction must officially agree to take this step. The buyer transfers the digital money from the buyer’s e-wallet to the seller’s e-wallet. Currencies can be converted into traditional currencies according to the actual exchange rate.

What kind of property for sale in Turkey can be bought with cryptocurrency?

As of now, in 2022, it is possible to buy literally any kind of property for sale in Turkey with cryptocurrency. A list of properties available to investors from abroad is given below, namely :

● Residential apartments of any metric size in modern apartment complexes;

● Stunning penthouses with sea views;

● Luxury villas with their own yard and swimming pool;

● commercial property for offices, shops, and hotels;

● Different plots of land for construction, etc.

What are the benefits of property for sale in Turkey for the crypto?

Buying real estate for bitcoins in Turkey and blockchain technology ensures a lot of opportunities for investors and sellers, namely:

● Transaction transfer speed. The transfer of virtual money is much faster than the transfer of funds in banks. Typically, the financial transaction will take from 10 minutes up to several days.

●  Guaranteed information privacy. Bitcoins and other e-currencies are independent of banks and other state financial institutions. Furthermore, there is no public transparency about who is buying or selling the bitcoins.

●      Lowest transfer fee. Crypto payment processing fees are minimal and usually considerably lower than the rate of commission for a SWIFT transfer.

● The volatility of digital currencies is not affected by the political situation or the world currency exchange rate. Cryptocurrencies are not subject to any political shake-up, as well as volatility in the dollar, euro or other popular amy earnhardt picuki.

How do our clients find and buy property for sale  in Turkey for bitcoins?

To buy property in Turkey for bitcoin or another cryptocurrency with Tolerance Homes you need to consider a few important points:

  • Inform our team in advance if you would like to buy a property in Turkey for some crypto, and we will find the most appropriate options for you.
  • As soon as the object is chosen and all conditions of the deal are negotiated with the seller, the bitcoins are settled at the current exchange rate. According to the agreement, the virtual money is deposited into the e-wallet of our agency, and the price of the object is indicated in real currency units.
  • Once the cryptocurrency is credited to our wallet, we start the process of making the purchase and withdrawing the cash into a Turkish Lira current account. Next, depending on the currency specified in the contract, we purchase either dollars or euros and transfer them to the merchant’s account.
  • The transaction time varies according to the cost of the chosen property, and also the daily limit on the crypto sale. After full payment, Tolerance Homes starts the procedure of re-registering the TAPU under your name at the Land Registry Office.

Please note property for sale in Turkey for Bitcoins also gives you the benefit of participating in the Turkish citizenship program for investment in an advanced and simplified procedure.

If you are planning to find property for sale in Turkey for bitcoins and you still have questions, feel free to contact the Tolerance Homes real estate agency. The company’s team keeps up with the latest information technology and virtual financial market and assures the buying of a property through different Blockchain platforms without any risks or unexpected difficulties.

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