Real estate revolution: Buying homes with bitcoin is now possible in Spain thanks to Binance Pay.

It's now possible to buy a house in Spain with Bitcoin thanks to a partnership between Binance Pay and Spain Homes that facilitates cryptocurrency real estate transactions. Let's take a look at all the details.

According to a collaboration between a real estateagency and the contactless payment platform Binance Pay in the Binance app, it is now possible to buyreal estate with cryptocurrency. This provides an opportunity for Italians wishing to invest in the Spanish real estate market. In the first six months of 2023, Italian nationals ranked third among the main buyers of real estate in Spain. According to the Spanish real estate registry, they account for 5.22% of the total number of purchases.

February 22, 2024 inMilan Digital currencies, already recognized as a widespread investment option, are increasingly being used as a means of payment. Cryptocurrencies, such as Bitcoin and Ethereum, have become a valid alternative for everyday spending on goods and services, as well as for higher value transactions. Moreover, their use by users is on the rise. A recent study conducted by Binance among more than 8 thousand users of the platform highlighted the growing adoption of cryptocurrencies in everyday life, surpassing their role as mere investment tools. In the Italian context, 54% of users used cryptocurrencies for daily purchases, demonstrating a shift in the perception of cryptocurrency as a practical tool. Moreover, 17% of people make monthly transactions using cryptocurrencies and 10% do so weekly.

A concrete example of this trend has manifested itself in Spain. The collaboration between Binance Pay and real estateagencySpain Homes provides the opportunity to purchase real estate using cryptocurrency, offering a new method of making high-value transactions. Spain combines cryptocurrencies and market security. Spain is positioning itself as one of the most attractive real estate markets for Italian buyers.

Forex Suggest research highlights Spain's leading position in terms of the number of properties that can be purchased with cryptocurrency worldwide. Confirming the country's reputation as an ideal place for permanent residence and recreation, thanks to its status as a safe, productive and dynamic real estate market in Europe.

Pakning Lake, responsible for Binance Pay, stated the following: "Our internationally recognized and convenient payment system provides transparent and secure transactions using blockchain technology. Introducing the use of Binance Pay for Spain Homes' online real estate transactions offers a seamless and efficient alternative to traditional methods, eliminating additional fees, intermediaries and geographical barriers."

Ozkan Tekce, CEO of Spain Homes, added: "The real estate sector and cryptocurrencies are closely linked, as cryptocurrency investors see real estate as a way to increase returns and diversify their investments. By partnering with Binance Pay, Spain Homes with its local expertise opens up new and significant opportunities for these investors."

Binance Pay, developed by Binance, provides a global payment system and wallet that is easy to use. It is based on blockchain technology and provides secure and transparent transactions with protection against fraud or manipulation.

Safe and law-abiding real estate transactions. Purchasing a property in Spain through Spain Homes using Binance Pay is a simple, secure and profitable process that is fully compliant with local laws. The process starts with prospective buyers contacting Spain Homes and after discussing their preferences in detail with an experienced agent, they submit some documents for the Know Your Customer (KYC) verification process. An anti-travelling check is then carried out. Upon successful completion, a power of attorney is provided to Spain Homes' legal partner. The agreed amount is then transferred from the client to a restricted account. The legal partner takes care of the entire purchase procedure, including signing the necessary documents, while Spain Homes organizes a meeting with the notary. During this meeting, the remaining balance is paid from the escrow account. This process allows the buyer to take title and the seller to receive payment, ensuring a secure transaction that is compliant.