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A major Australian real estate group is holding a luxury home auction that can be paid for with two cryptocurrencies. There will be a live auctioneer who will call out bids in BTC. The property owner says he wants to keep as many coins as possible.
Live Auction for Cryptocurrencies
One of Australia’s largest real estate groups, LJ Hooker, is preparing a live luxury real estate auction for cryptocurrencies with a live auctioneer. The company is working with James Pratt Auctions and blockchain company Nuyen, which will facilitate online bidding for the five-bedroom house in New South Wales, Australia. Micky media outlet reported Monday:
The auctioneer will call bids in cryptocurrency, with the price to be converted and displayed in AUD and USD on a live screen. Payments can be made in both bitcoin (BTC) and binance coin (BNB).
The owner of the property and president of Nuyen, Greg Costello, told news.Bitcoin.com that, in addition to the two cryptocurrencies, AUD will also be accepted.
According to Nuyen, the auction has attracted interested buyers from the U.S., Canada, China, and Australia, the publication detailed. Costello was quoted as saying: “We have already had parties register for the auction in less than 5 days of it being released … There has been a lot of international interest and publicity and I expect to see this grow and grow as the auction gets closer.”
Furthermore, he told the news outlet that he believes there will be more live auctions for cryptocurrencies in the future because international bidders can easily participate, elaborating:
All signs point to a borderless system where digital assets are traded for real assets.
Established in 1928, LJ Hooker claims to be “Australia’s best-known and most trusted real estate brand.” With offices in Australia, New Zealand, China, Indonesia, Papua New Guinea and Vanuatu, the group claims to manage the largest property portfolio in the region of approximately 160,000 properties worth $ 100 billion Australian dollars (~$ 71 billion).
The auction will take place on April 8. There will be a live auctioneer on the property, which is located on the coast about 60 miles south of Brisbane. Nuyen Vice President Ryan Lee described the post-auction process:
Once the sale has been completed, Nuyen’s internal and secure exchange will then be responsible for facilitating the liquidation of the coins themselves and of course releasing them back to the market.
Costello, being a firm crypto believer, intends to keep as much of the BTC and BNB as he can, Micky conveyed. Nonetheless, he explained that “Some of the coins will have to be liquidated to release the mortgage but the rest will be held tight for future gains.”
What do you think of this live auction for BTC and BNB? Let us know in the comments section below.
Images courtesy of Shutterstock, LJ Hooker, and Greg Costello.
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The post Real Estate Giant Holding Live Luxury Home Auction for Bitcoin appeared first on Bitcoin News.
Harry Macklowe calls his gesture a “proclamation of love”; Complex calls it petty and “massively mean.” Whatever it may be, two photos (see them here ) plastered on the side of the tallest residential building in the world —and the second-tallest building in New York City—are definitely attracting attention….
Turkish real estate agency Antalya Homes has sold nine properties to date using bitcoin core, mostly to foreign buyers. The houses cost a minimum of €30,000 each (~$ 33,900) said the agency, which also accepts bitcoin cash, ethereum, stellar, ripple, litecoin and tether.
‘Crypto Purchases of Property Are Reliable and Faster’
Antalya Homes chairman Bayram Tekce said cryptocurrency purchases of real estate come with multiple advantages. “Payment with cryptocurrency enables a more reliable and faster transaction performance such as money transfer between bank accounts without any exchange loss,” Tekce was quoted in the online daily Business Standard as saying on Mar. 5.
Turkey has continued to see a boom in both cryptocurrency use and in its property sector, driven by strong demand from foreign nationals. In 2018, investors from abroad bought 40,000 properties in Turkey, an increase of more than 80 percent from a year earlier. Foreign buyers target homes in Istanbul, the Antalya region and other coastal and scenic areas.
Tekce, whose company started taking cryptocurrencies last year, said Antalya Homes has created a “Pay with Bitcoin” button on its website to assist those who intend to buy property this way. The company chairman did not clarify how payment in BTC was made.
“It is very profitable to purchase real estate for those who want to utilize their cryptocurrency investments in the real estate sector,” he said. “By making investments particularly in countries like Turkey, where housing is becoming increasingly valuable, investors can shift their investment to a less risky and safer area, and multiply their savings.”
Bitcoin’s acceptance as a means of payment has grown steadily over the years. The cryptocurrency is already used in many industries including automotive, travel and informatics and has now penetrated the Turkish real estate sector, even though agents in other countries were already selling property using crypto.
In 2017, Southeby’s International Realty sold one of its first single-family homes in Austin, Texas using BTC. The Austin home was sold when Bitcoin prices were $ 3,429 in September of that year.
Canter Companies, a full-service investment firm specializing in real estate and asset management projects, also listed two multi-million dollar homes for sale in BTC in 2017. The homes were collectively valued at around $ 20 million, while another realtor put up for sale a 27-acre piece of land in Silicon Valley, payable in BTC, ETH or XRP.
What do you think about the use of cryptocurrency to purchase property? Let us know in the comments section below.
Images courtesy of Shutterstock.
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