Mister Piso, the Barcelona-based real estate company sold the first dwelling for Bitcoin. The company believes that using cryptocurrency and increase sales, stimulate and renew the market.
Why is it beneficial for the customers? As Bitcoin is a peer-to-peer platform and does not need any central body to store the transactions data. In other words, the buying and selling your property with Bitcoin can reduce the cost via omitting the commissions.
The owner of the dwelling sold it for 40 bitcoins. Via simple mathematical calculations we can say that approximate price for the residence was about $475,000.
Mister Piso is taking the risk of the Bitcoin unstable condition, already putting their second apartment for sale in Bitcoin.
Gerard Platero, the manager of Mister Piso’s Tarragona office, commented:
“It’s a much cleaner transaction, and you do not have to have cash in the moment, you can have this bitcoin wallet and have something that is not tangible. If I saw a flat and liked it, instead of paying and signing and having to go to a notary, I could make the transaction very quickly in the moment, according to the value of bitcoin, and all parties are happy. This allows property owners or buyers to circumvent banks, and, therefore, avoid or reduce additional costs such as commissions.”