First Bitcoin property sales in Britain
If you have paid any attention to social media or news outlets of late, you will know that Bitcoin is big business. There have been many stories about this cryptocurrency and how it rocketed in value, while there have been days where the value has plummeted. The Bitcoin trend is still on the rise though and there is a growing level of interest in what Bitcoin has to offer. While many people haven’t quite got their head around Bitcoin yet, the fact that it is moving towards the mainstream means many people will pay more attention. Therefore, news of the first Bitcoin property sales in Britain will be of interest.
It is only by being a viable option when making a purchase or carrying out transactions will Bitcoin grow into a viable option. There is a lot of misconception about Bitcoin now and there are clearly people who are suspicious of the cryptocurrency and the people that use it. Therefore, news that Bitcoin is being used to purchase properties will be of interest, and the more transactions that are concluded with this form of currency, the more people will gravitate towards it.
Two Bitcoin transactions in the UK property market so far
One company certainly believes Bitcoin is a viable option, because they have been involved in the first two Bitcoin property purchases in the United Kingdom. Go Homes is the firm responsible for this work and they will benefit from publicity from these transactions. There is always a lot to be said for being the first mover in a market, and this firm may be regarded an innovative option by some interested parties.
The property deals took place in Colchester and Hertfordshire. As you would expect, Go Homes hasn’t been keen to divulge information about the buying parties, but they have said they are happy to conclude transactions with Bitcoin in the future.
There is a long way to go before Bitcoin becomes a common choice
With just one firm and two sales, it would be too early to say that there is a Bitcoin revolution taking place, but there are changes taking place in the market. As of yet there have been no Bitcoin purchases in the much-discussed London market, but there is a London based property developer who accepts Bitcoin for deposit payments and rent payments. The Collective is the company responsible for this action and they claim that requests from foreign investors has led them to accept this payment option.
It would be fair to say that Bitcoin has a long way to go before it can be classed as a mainstream currency option that many people will trust. While Bitcoin is set up, as with many other cryptocurrencies, to be secure, even offering anonymous transactions, some people will be unsure or unhappy about the secrecy and lack of transparency in transactions. For some users, the secure nature of transactions is the fact that impresses them most about Bitcoin but for other people, the uncertainty of who they are dealing with is likely to cause concern.
We believe that anything which helps people to buy or sell property is interesting, and hopefully of benefit to the market. If you want to stay in touch with the latest property news, or you need guidance, please get in touch with Liberty Gate and we will be more than happy to help you out.