DAMAC, one of Dubai's top luxury real estate corporations, now accepts Bitcoin and Ethereum as payment for properties and development projects.
Purchasing real estate has usually been regarded as a promising long-term investment, as well as a very profitable venture for individuals in the real estate sector. Recently, certain Nations have begun to allow their clients to purchase real estate using Bitcoin. Dubai now intends to follow suit.
Central American countries like as El Salvador, Belize, Costa Rica, and Nicaragua were among the first to enable the purchase of real estate with Bitcoin.
The future of real estate is set to be revolutionised! #DAMACProperties is one of the first developers to accept #Bitcoin and #Ethereum as a transactional medium for property purchases. This is a major boost for the digital economy!— DAMAC Properties (@DAMACOfficial) April 27, 2022
To read more:https://t.co/j0AVJMPYMV pic.twitter.com/rVQe10Xhux
DAMAC, a Dubai-based luxury real estate corporation, recently announced that it would begin taking Bitcoin as payment:
"The power Bitcoin introduces to a new sales platform for real estate businesses. This new economy breaks geographical barriers, simplifies international transactions and offers a higher level of privacy."
The Middle Eastern "extravagance hub" has long embraced originality and invention, most recently with the opening of the Dubai Museum of the Future.
The firm's actions have been important. It demonstrates Dubai's willingness and interest in becoming a premier destination for Bitcoin fans, as well as its desire to allow citizens and visitors to utilize Bitcoin as a form of payment. The Nation has frequently expressed its support for Bitcoin and the possibilities it sees, particularly in keeping up with a world that is incorporating Bitcoin more and more into people's daily lives.
Can you now use Bitcoin to purchase a property in Dubai? Apparently, absolutely, and the trend is only getting started. Recently, both Emirates and Swiss timepiece TAG Heuer revealed that they will take bitcoin.