Imagine buying or selling property in Uruguay using Bitcoin, a digital currency that’s revolutionizing how we think about money, removing a lot of friction and cost involved in international transfers using the traditional financial system.
Launched in 2009, Bitcoin is the first and only true digital currency that doesn’t rely on intermediaries nor centralized clearing houses, enabling the transfer of value from one party to another, without any possibility of it being stopped, frozen or otherwise controlled by others. With the introduction of a spot ETF (Exchange Traded Fund) in the USA, Bitcoin is now recognized as a legitimate asset class in the Western world.
Team Haverkate has recognized the potential for Bitcoin in real estate transactions and is proud to add support for such transactions to their service offering by partnering with a Bitcoin Consultant. As a European living in Uruguay for over two decades, he offers a unique blend of local knowledge and international perspective to assist you in the technicalities of safely moving funds around with Bitcoin.
Why Bitcoin for Real Estate?
When purchasing real estate, the process of transferring funds using the traditional financial system can be quite cumbersome and expensive, especially when it’s an international transaction.
Bitcoin treats every transaction equally. The value being transferred, and the geographical location of the sender and the recipient are irrelevant. It just works. There are no intermediary parties, and the transaction cannot be stopped.
In 2022 the Uruguayan law was updated to enable the use of Bitcoin in real estate transactions, removing previously existing tax implications and making Bitcoin the ideal choice for real estate transactions.
What to Watch for in Real Estate Transactions with Bitcoin?
Since Bitcoin transactions do not have intermediaries and are final, they need to be treated a bit differently than when using the traditional financial network. There is no bank to call and no ability to revert a transaction. This requires additional attention to be paid to the technical setup to guarantee that funds are safe at all times during the process.
Since a real estate purchase with Bitcoin is considered a barter, special attention needs to be taken to make sure the property is officially repriced for tax reasons. If not done correctly, this will negatively affect capital gains tax upon a future sale of that property.
Why Bitcoin and Not Other Cryptocurrencies?
Bitcoin is unique in its decentralization, transparency, and security. Bitcoin does not have a CEO. There is no board of directors. No VC investors. No geographical location. No road map. No marketing. No creator of the coin that keeps the majority of the coins for itself. Bitcoin is truly decentralized, allowing everybody to store and transfer value worldwide. No permission has to be obtained to do so. There are no central clearing houses to assure that the Bitcoin transferred is indeed yours and has not been spent already. Instead, it relies on hundreds of thousands of participants in the network to arrive at consensus. It’s the only truly permissionless, open-source, and incorruptible digital currency. Other cryptocurrencies lack these qualities, making Bitcoin the only viable option for those seeking a secure and reliable digital asset.
Our Services for Bitcoin Related Real Estate Transactions
- Secure Escrow solution: We establish an escrow-like structure to provide peace of mind, ensuring your Bitcoin remains safe until the deal is finalized.
- Personalized wallet Setup: We assist all parties in securely sending, receiving, and storing Bitcoin. Whether you’re a buyer or a seller, we’ll guide you in using wallets and implementing backup solutions responsibly.
- Legal Coordination: We collaborate with notaries experienced in Bitcoin transactions in Uruguay, handling the legal aspects of your transaction smoothly. Our cooperation ensures all legal requirements are met for a seamless process.
- Fiat Conversion Assistance: Need to convert Bitcoin to fiat currency like US dollars? We connect you with trusted over-the-counter (OTC) services to manage large transactions efficiently and securely, avoiding the complexities of public exchanges.
Why Us?
At Team Haverkate, our mission has always been to be the trusted partner for international buyers seeking real estate in Uruguay. We are now proud to enhance our services by offering Bitcoin as a payment option, making it easier than ever to invest in Uruguayan real estate.
We know that buying or selling real estate is a significant decision, and we’re here to make sure that incorporating Bitcoin into your transaction is as straightforward as possible. Our team of experts is dedicated to providing the support you need, every step of the way. We have an unpublished database of several interesting properties for sale where the sellers would be willing to accept 100% Bitcoin.
Get Started Today
Embrace the future of real estate and experience the benefits of using Bitcoin in your next property transaction. Contact us today to find out how we can help you achieve your real estate goals with ease and security.
