World’s First Bitcoin Real Estate Marketplace Launches• April 21, 2023 11:05 am • Comments
MyEListing, the world’s first Bitcoin real estate marketplace, just launched recently where it will allow people to purchase real estate within the US with Bitcoin directly.
This will likely have tremendous positive impacts on both the real estate and crypto industries as it introduces a large pool of new customers for both.
One of the most attractive things about this new platform is that buyers can essentially purchase properties in just one business day.
This is something that is usually a long process in the traditional method of purchasing real estate and it is reported that the transaction time is nearly 50 times faster.
So far, the platform is only launching for properties in Texas, but there may be plans to expand this marketplace to other states later in the year.
— Nokamito Satasho (@NSatasho21M) April 20, 2023
The platform is initially launching for Texas-only properties on April 20, 2023, with plans to expand to other select states in June 2023. The list of available properties to purchase with bitcoin is available on the MyEListing website. The ASAP program’s explainer video provides a step-by-step guide on how the process works.
The integration of Coinase by MyEListing is expected to change the way people invest in real estate by providing a secure and efficient way to buy and sell properties, the press release states.
As Richter explained, “with the ASAP program, anyone, regardless of the language they speak or where they are in the world, can purchase residential and commercial real estate with crypto in as little as one business day.”
The program’s success will be determined in the coming months as it expands to other states and attracts more buyers and sellers.
Coinbase is serving as the backbone of this marketplace platform as it allows for the buyer’s crypto to be converted into cash before transferring it to the seller.
This gives a lot of creditability to the new platform as Coinbase is already a well-known name within the crypto space within the US.
This is not the first time that real estate has been purchased with Bitcoin and other digital assets.
However, it is the first time where a trusted platform was launched that can drive greater adoption of using digital assets to purchase real estate.
After all, convenience is usually key for the majority of users and MyElisting has essentially simplified a long process to just a few short steps.
"Agents can now list U.S. commercial and residential properties to be sold for cryptocurrency or cash on the platform, and anyone worldwide can purchase them within one business day through the ASAP program."
— Elegant Entropy (@ElegantEntropy) April 21, 2023
It’s Coinbase’s participation that distinguishes MyElisting.com from other similar ventures. Coinbase is a household name in the cryptocurrency world and there’s nothing like credibility to give users that much-desired security when trading in something as valuable as real estate.
Commercial real estate has been dabbling with cryptocurrencies for a while. They add an element of privacy, which many investors find beneficial. And then there’s the speed component, as blockchain technology eliminates the need for an intermediary.
So far none of the real estate tokenization schemes have worked at scale. The integration with Coinbase, an exchange that many investors already use, could be the key to gaining more widespread adoption.
MyElisting.com has also expedited the buying and selling process further with its two other partners, Millennial Title and Championship Title spearheading the title process.
Buying property using #BTC 🤔
— Ajay Kashyap (@EverythingAjay) April 21, 2023
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