By Andrea Hargraves 
The real estate market Live another special moment History in Portugal. The Sell your first home completely Cryptocurrency It took place on Thursday May 5, 2022. It’s a 3 bedroom apartment in Braga Which was purchased by three BitcoinThat is about 110 thousand euros. This means that for the first time in Portugal and Europe, it was Only home trading in cryptocurrency Without the need for any conversion to Euro.
The The instrument of this house It was signed in Póvoa de Varzim, Porto Province, in a deal that was fully executed in Cryptocurrency. How do new slate From a notary launched last month, it is now possible to implement a 100% encryption process. How do? By barter: the buyer delivers it to him Cryptocurrency For the seller there is an exchange of digital money in exchange for the right of ownership. Note that before this list, when buy a house It was necessary first Convert cryptocurrency to euro to perform the operation.
“This act represents a historical landmark, the transfer of ownership digital assets into a physical asset – a house – without any conversion into euros,” Zome highlights in page of Facebook, who participated in the joint operation with the law firm Antas da Cunha ECIJA, and Chief Notary in Portugal and other Crypto Valey partners in Switzerland.
For Carlos Santos, Chief Technology Officer at Zome, “ Mediation future will pass Crypto assetsso we believe this transaction will start a whole new world of business potential,” he noted in a statement sent to newsrooms.
“This type of business is going to increase exponentially and Portugal is showing very promising signs in terms of digital economyso we believe this process can be a great opportunity for growth and value creation“, adds Nuno da Silva Vieira, attorney and partner in charge of the Antas da Cunha ECIJA Legal Intelligence Practice Area, quoted in the same document.
Buying and Selling Homes in Cryptocurrency: What Do You Need to Consider?
But to carry out this deal in Cryptocurrency It is necessary to follow a set of procedures, which are not required in an ordinary deed, to ensure control of Money launderingExplain the experts you contacted TVI / CNN Portugal:
if it was Real estate transactions in cryptocurrency exceeded 200,000 euros, in addition to the previous communications mentioned above, the operation must be reported to the authorities and it will still be necessary to compare the value of Cryptocurrency In the history of promissory note And its value in the history of the act, wrote pass.
* The news was updated at 12:31 pm on May 6, 2022 with new data in a statement