As one of the most cultural countries in Europe, Portugal promotes cryptocurrencies. According to reports, the purchase of an apartment in Braga, north of the city, was completed for 3 BTC.
Portugal relaxed its laws toward cryptocurrencies and promoted payments with tokens. This is not the first time real estate has been sold with cryptos because this activity has been normalized in the United States.
Portugal kicks off crypto negotiations in Real Estate
For more than a decade, cryptos have represented a feasible solution for companies and citizens of each country. As the number one token in negotiations and for its value, Bitcoin is present in real estate used in the US, Singapore, Colombia, and Portugal.
The country in Europe is pleased to show the sale of a 2-bedroom apartment in Braga. According to reports, the property was valued at 3 Bitcoin or approximately 110000 euros. Zome, a real estate company, providing its operations for some time, participated in the purchase and the ACE advocacy group.
It was impossible to finalize a real estate sale in previous months due to the Portuguese government’s strong regulations against the virtual market. However, the rules loosen, which paints a good picture for the crypto market.
Evolution of the crypto space in Europe
The evolution of the crypto industry has accelerated in Europe after the highest regulatory authorities admitted that cryptocurrencies are the future. Portugal is one of the most recent countries to adopt crypto-trading, and the real estate field benefits from it.
The apartment sold with Bitcoin in Braga is just the beginning of a wave of crypto adoptions in Portugal. Previously, decentralized currencies could not be traded because national laws prevented this transaction. However, the whole environment changed, making it possible for the Portuguese to invest, store and transfer Bitcoin.
Then the country will improve purchases in cryptos, which will cause its citizens to become more involved with technology. Crypto sales in real estate are feasible because of the low-interest rate, and its operations are fast.
Today Bitcoin trades above $34,000, the lowest price recorded since the beginning of the year, but the token is expected to increase in value. Zome, the real estate company that made the apartment sale possible in Bitcoin, is expected to show more similar offers in BTC and other popular tokens such as Dogecoin.
Source: https://www.cryptopolitan.com/portugal-accepts-payments-in-btc/