Cryptocurrencies: how much it costs to buy a house and a car for BTC

According to a study by the French consulting company Chappuis Halder & Cie, more than 52.4 million people worldwide invest in cryptocurrencies. Let’s choose a country where cryptocurrencies are not prohibited, and using them as a means of payment is commonplace. Let’s stop our choice on a country that has already announced (once again) a default for a long time. It will be about Argentina.

Argentina plays an important role in this context, because, according to the Chainalysis report, it ranks tenth in the world among the countries with the largest number of crypto investors.

In this direction, more and more Argentines accept cryptocurrencies not only in order to save without restrictions and limits, but also in order to sell goods in digital currencies.

On platforms such as Mercado Libre and CryptoAvisos, ads have already appeared for the sale of houses, apartments, country houses and plots, as well as expensive cars, trucks and motorcycles that accept only cryptocurrencies as a means of payment.

Yes, it is clear that you have a lot of questions at once. What is it like to buy and sell real estate in Argentina? Is there a regulatory framework?

Since April of this year, the Argentine Chamber of Real Estate (CIA) has begun to train developers, builders and real estate companies of the country in new forms of payment using cryptocurrencies and Bitcoin.

How are transactions carried out? It’s simple! Money transfer is carried out immediately, as well as crediting to the recipient’s account.

But instead of buying real estate for traditional money, the buyer invests stablecoins, such as DAI, USDC or USDT, which are paired one-to-one with the US dollar, and always have a stable value of $ 1.

If a buyer has Bitcoin, he is usually offered to sell them and turn them into stable coins. In other words, the owner accepts stablecoins, for example, USDT.

Thus, there are no fluctuations when making a transaction, the amount is the same as if you were making a transfer or a cash payment.

For this reason, according to industry sources, there are no geographical restrictions for making a transaction, and the costs are lower.

Stable coins are a salvation for many Argentines.

And so, real estate for cryptocurrencies

This year, Mercado Libre launched a new category for selling real estate using cryptocurrencies and Bitcoin. On its official website, the user can access the cryptocurrency section on the e-commerce platform and choose any stablecoin, depending on the amount of Bitcoins he wants to spend.

The page also describes in detail the steps related to the transaction: first, the person must find the property he wants to buy.

Secondly, they should contact the real estate agency listed in the publication and ask about the transaction in cryptocurrencies.

Finally, the real estate agency will make the conversion on the day of the transaction, and will issue the property in the name of the buyer.

Another platform where you can buy real estate in cryptocurrencies is CryptoAvisos, a website designed exclusively to unite Argentines who want to buy and sell goods in cryptocurrencies. The platform is not an intermediary for payment, and works as a digital showcase.

The difference between CryptoAvisos is that it does not accept sales publications expressed in Argentine pesos or dollars, and only Bitcoin, Ethereum, DAI and USDT can be traded.

On Mercado Libre, all prices are in US dollars, and a person must contact a real estate agency to convert them into cryptocurrency.

On Crypto Avisos, on the other hand, all ads are presented in cryptocurrencies such as DAI, USDT, USDC or BUSD.

Everything is quite very simple.

What real estate objects can be purchased for cryptocurrencies

Let’s start with the fact that at the time of writing these lines, according to the data Coinmarketrate.com, the cost of Bitcoin is $46,900. This is so that you can compare prices with the BTC exchange rate.

On CryptoAvisos you can find two-bedroom apartments in Capital Federal for 93,600 USDT; country houses for sale in the interior of the country for 75,000 USDT; two-bedroom apartments on the Atlantic coast for 299,000 USDT; three-bedroom apartments in Belgrano for 220,000 DAI and much more.

In Mercado Libre, real estate is divided into three main categories, depending on its value: those that cost less than 1.5 Bitcoins, from 1.5 to two BTC, and those that cost more than 2 BTC.

In the latter you can find houses on Vicente Lopez, apartments in Recoleta, San Nicolas or Villa Crespo, country houses with wells.

Cars in cryptocurrency

On the one hand, the CryptoAvisos platform allows users to sell motorcycles, cars, vans and trucks in digital currencies.

For example, in the category “vehicles”, you can get Volvo trucks for 30,000 UST (stable coin of the Terra blockchain); Yamaha motorcycles of the Fazer 250 line for 2,250 USDT; Volkswagen Passat car for 8,500 USDT; Amarok trucks for 13,000 DAI, etc.

On the other hand, this year the business of selling cars in cryptocurrencies has also reached traditional dealerships.

Buenbit, an Argentine cryptocurrency exchange, has entered into a partnership with Espasa, an official Volkswagen dealer.

From now on, Espasa will allow its customers to pay with cryptocurrencies through Buenbit in five dealer branches in the city of Buenos Aires.

To buy a car with zero mileage, pay for subscriptions to savings plans, purchase spare parts and official maintenance, customers will be able to use their digital wallet with stable cryptocurrencies USDT, DAI and Bitcoin as a means of payment.

And this is all in a small, South American country, where another default was declared a year ago, and the IMF simply threw the people of this country over the poverty line. But cryptocurrencies turned out to be the Holy Grail for Argentines.

Now they do not have a question of what to keep their savings in. Now everything is clear for them.