How Bitcoin and other Cryptocurrencies are Revolutionizing the Future of Real Estate Companies in Dubai in 2021 and Upcoming Years?
Why Expats Should Consider to Buy Bitcoin in Dubai?
Bitcoin has grown around the planet significantly in the past few years both in its popularity and its use. The Global city of Dubai has become the new hot place for crypto enthusiasts. Earlier this year, a United Arab Emirates-based tech company Arabian Technologies developed Dubai’s crypto named Dubai coin which is touching the heights of popularity in the Arabian world.
People are talking about Dubai and bitcoin linked together nowadays, as the Emirati investors are looking towards and also encouraging others including the general public to invest in bitcoin. More than 1,000 new crypto companies in Dubai are predicted to exist by the year 2022.
Previously, the West was seen as the de facto capital of Technology. But now as the time is changing, East Asian and Middle Eastern markets are also contributing to the Global Tech scene.
Brock Pierce who is the chairman of Bitcoin Foundation & co-founder of Tether & Mastercoin, says “The best way is to figure out what this is all about so that you can make an informed decision for yourself. And then with that knowledge, you’ll be able to make decisions as to whether or not if, you know, if you agree that this is, you know, going to be a big part of the future, clearly I have that view.”
How Dubai Cryptocurrency Market is Expanding Rapidly?
The most significant thing is that Crypto traders are taking interest in investing their prestigious crypto coins in the Real Estate Market of Dubai. Dubai, in recent years, has created innumerable opportunities for Crypto trading.
The UAE has become the top country for crypto. The United Arab Emirates has become a crypto powerhouse having crypto transactions worth over $210 million leaving behind other giants like UK and USA.
In UAE, the government has taken many major steps for the awareness of cryptocurrencies among the General public. Not only the government has played a significant role, but also major corporations, financial institutions, universities and eminent investors have contributed significantly to the progress and awareness of crypto in the United Arab Emirates.
One more main reason behind the development of advanced technologies in the Middle Eastern region, particularly, in the UAE area is the green revolution. Today, nations inside the Middle Eastern region are utilizing block chain innovation to additional their supportability plans. With a remarkable chance for block chain and crypto development in green drives, organizations inside Middle Eastern region are driving inventive ventures focused at this convergence of innovation and maintainability.
Enjoying the urgent benefit of being borderless – consequently making cryptographic forms of money obviously fit to business, exchange and individuals – they are additionally an ideal match to the consistently developing degrees of digitalization all throughout the planet. What these most recent figures show, and what we’re seeing increasingly more now in the UAE and universally, is the expanding affirmation that digital currencies are the present and eventual fate of cash.
It is estimated that by the year 2022, Dubai’s Tech Market will have over 1,000 Crypto companies.
Properties which are Available in Exchange for Bitcoin in Dubai
While talking about Crypto and Real Estate at the same time, the very first question that will come into your mind is Can We Buy Real Estate in Dubai using Cryptocurrencies? The answer to this question is A BIG YES.
Buying Real Estate with crypto is a new concept but it has now become possible in this modern world. However, as buying Real Estate from Crypto is a relatively new concept, that why there are a few hard complications that people are facing while using Crypto to buy property in Dubai.
Due to Crypto being still uncommon among the traditional business community, some of the sellers would simply deny accepting crypto for the property purchase. Those who do property dealing in Crypto may only accept the top and well-known currencies like Bitcoin and Ethereum. But it’s still highly unimaginable for most f people to buy a real-world property using Digital assets.
Through consistent interests from real estate agents in Dubai in selling their properties through crypto, buying and selling a property using Bitcoin has now become an extremely systemized and streamlined project.
The residents of Dubai now also can use Bitcoin to buy their dream house. A studio apartment in Dubai is starting at just 33 BTC and a 1 bedroom apartment for 54 BTC. This is all tallied at around $250,000.
Although some of the development’s units have been sold already for modern currency, the remaining residential properties are reserved for Bitcoin buyers only. Also to be noted that commercial units aren’t available to buy through Bitcoin.
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