First Bitcoin Real Estate Purchase Registered in Columbia

Columbia is a country that welcomes cryptocurrency with open arms, even going as far as local banks teaming up with cryptocurrency exchange platforms to make things more convenient for its user base.

First Bitcoin Real Estate Purchase Registered in Columbia

Just recently the very first real estate purchase using the cryptocurrency Bitcoin has been registered in the country of Columbia. The company, La Haus has successfully sold the property to a client who wasn’t in the country at the time of purchase. And although the country is just starting to consider using cryptocurrency as a means to purchase real estate, its neighboring countries like Venezuela it’s more commonplace to use cryptocurrencies to buy property. 

This event is a milestone for Colombian real estate at least when it comes to the use of cryptocurrency. La Haus, an online-based real estate company serves as a mediator during this transaction after it received a reserved payment of approximately 0.03 BTC over a month ago. Because the buyer was not in Columbia at the time, the transaction was completed using the payment processor Lightning Network via Opennode. 

The purchase happened after a month when the company announced that it was willing to accept Bitcoin as a form of reservation and payment method. The property in question is found in Natura city located in Santa Maria. 

The executives of La Hause mentioned that they are planning to expand the use of these types of payments all over the country. The Vice President of La Haus commented that the fact that only a month has passed since its announcement, shows that there is a very high demand for it in the market. Because of this, the company is working hard to ensure that alternative payments like Bitcoin are available to the rest of the country.

Despite this news, this isn’t the first time that La Haus has accepted a cryptocurrency purchase. La Haus also operates in Mexico where they received their first crypto transaction. The transaction was from a woman in Peru who bought the property in Mexico. 

This is the first registered crypto transaction in Columbia but the practice has been going on for a while now especially in countries like Venezuela where properties are being sold in USDT. A good example of this is what happened last year near a coastal state of the country, the buyer acquired an apartment there for $12,000 and paid in USDT. 

Conclusion

There has been a string of news indicating the evolution of cryptocurrency purchases. A few years ago you couldn’t even buy something tangible with cryptocurrency, but right now it’s very different and people can buy real estate using Bitcoin. The best part is that it’s becoming more trendy lately and other countries outside of Latin America might follow suit.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.