Customers From Latin American E-Commerce Giant Mercado Libre Can Buy Real Estate With Bitcoin
Cryptocurrency is still a relatively new phenomenon. For most people, it remains a mystery. For a small portion of the population, cryptocurrencies are already a part of everyday life. For example, some people and businesses use bitcoin for everyday transactions. Others trade cryptocurrencies as a way to make money. Today, we are going to tell you about a new use for cryptocurrency. It was recently announced that customers from Latin American e-commerce giant Mercado Libre can buy real estate with bitcoin.
Latin America’s largest e-commerce company is the latest major company in the region to join the movement to adopt cryptocurrencies. Mercado Libre now offers its customers the opportunity to buy a number of properties from real estate agents using bitcoins.
Listed properties do not offer alternative payment methods except Bitcoin
According to the announcement, the company, which was founded 20 years ago, is offering 75 properties for sale from seven agencies that accept bitcoin (BTC) as their only payment method. Houses, apartments, land, among others, are located in several Argentine cities, such as Buenos Aires, Santa Fe and Cordoba.
Mercado Libre believes that cryptocurrencies are an innovative safe haven of value thanks to their traceability, speed and security, making them a suitable way to initiate payments.
The e-commerce store also hosted a webinar to educate more than 300 brokers about cryptocurrencies.
Juan Manuel Carretero, commercial director of transportation, real estate and free market services at Mercado Libre, praised bitcoin’s role in the way people pay for real estate today:
We always keep an eye on market developments. Bitcoin has many advantages for real estate transactions for both buyers and sellers. Today we launched the crypto section on Mercado Libre Inmuebles, and in a few hours 75 items are already available. We expect this to become more prevalent over time, as this is not a fad, but a trend that will grow over time.
The process of buying property with BTC is simple, according to the company, as potential buyers need to choose their preferred option from the fiat steps, then contact the agency and agree to pay in bitcoins at the current rate.
Mercado Libre CEO’s interest in Bitcoin
Mercado Libre’s interest in cryptocurrencies is consistent with comments its CEO made earlier this year. Marcos Galpering, an Argentine billionaire and CEO of the e-commerce platform, said bitcoin is a better store of value than gold.
However, the billionaire believes that the currently dominant cryptocurrency will not replace the fiat currency because of, he says, the high energy costs required to process the transfers.
What do you think of the Mercado Libre announcement? Let us know your comments in the section below.
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