Bitcoin and Binance bought in the real estate market: Villa for 457 BTC

the Australia held on 8. April 2019, the world's first Live real estate auction by means of the crypto-currencies Bitcoin and Binance Coin (BNB). 457 Bitcoin (about 2.1 million euros) to the tenderers, the futuristic Villa in Casuarina, a city in the East of Australia.

Tabea Rossol
9. April 2019BTC$5.180,00 -0.71%part Facebook Twitter LinkedIn xing mail

Already on 7. March 2019 was announced by the auction house James Pratt Auctions, the Live real estate auction on Instagram. Here the speech was the first of a collaboration with the NuYen exchange and Binance. Joined the on the crypto-market, a company specialized Trigon trading. In a Tweet announced to support the NuYen exchange during the settlement of the auction in Bitcoin. Also Binance-founder and CEO, Changpeng Zhao tweeted diligent in advance.

The world's first live property auction using cryptocurrency streaming. Accepting Bitcoin & Binance Coin #useBNB https://t.co/pt4ULhkSOC

— CZ Binance (@cz_binance) March 11, 2019

The world's first Live real estate auction with crypto-currency. Acceptance of Bitcoin & Binance Coin. [...]

During the auction, he campaigned for it, to buy the Villa with Binance Coin. Finally, the property sold for 457 Bitcoin, which corresponds to a current of 2.1 million Euro. This is a considerable sum: 457 BTC form about 0,002176 percent of the total supply of Bitcoin that will ever be gemint.

Slowly but surely: Find crypto currencies have their place in the real estate industry?

The Australian luxury Villa, however, is not the first property that was purchased with the cryptocurrency. Already in December 2017 was completed in Miami, the first Bitcoin real estate transaction, reported at the time the property sheet is The Real Deal. Here Ivan bought Pacheco, the co-founder of Bits for Freedom, a Two-room-apartment for 17,74 BTC. In Australia real estate purchases with crypto-currencies were made, reported the Daily Telegraph. Most of the purchases recorded in the United States, where, in particular, crypto-millionaires from China in real estate investing. Recently, a real estate company in Turkey, Antalya Homes announced in its press release, to already have nine real estate with Bitcoin sold. On your Website an extra Button: "Pay with Bitcoin."

advantages of the crypto currency when buying a property

The advantage of crypto-currencies in the purchase of real estate is that you can make transactions across borders at low cost. High Transfer and exchange fees are bypassed, and buyers can seamlessly acquire real estate in other Parts of the world.

First the Pizza, now the whole house

The high interest in the Live auction, which marks a further step in the direction of the adaptation of Bitcoin. If you compare the price of the Villa with the first purchase with Bitcoin in 2010, at that time, there were two pizzas, the difference is remarkable. 2010, a Pizza cost 10,000 in BTC, today, a whole house for 457 BTC on the auction table. This time, Bitcoin meets in the larger scale, the purpose for the Satoshi created: He acts as an electronic means of payment.

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