Cryptocurrency has been blowing up recently, making Bitcoin one of the most valuable currencies out there. However, the Cryptocurrency market can be volatile, so many say users have been looking for passive investment opportunities to be able to “cash themselves out” of the Bitcoin game. One of the most solid investments to make is in Real Estate, and right now, the Riviera Maya is one of the most popular places to buy.
Although Bitcoin has been around for years, it’s only recently that big names have been accepting it as a legitimate alternative to flat government currencies. Companies such as PayPal, Expedia, Tesla, WordPress and Microsoft now all accept cryptocurrency as a form of payment. In the real estate world, Bitcoin is taking hold too. Many high-end developers are now accepting it as a form of payment from their clients.
Three reasons to use Bitcoin for your real estate investment
International Currency – One of the best things about using Bitcoin to invest in real estate in the Riviera Maya is that it’s an international currency. This means that you don’t have to calculate from Dollars to pesos or Euros to Dollars, and there’s no need to wait for fluctuating exchange rates to swing in your favour.
- Fast and Inexpensive Transactions – In most circumstances, moving money between International banks can be a slow and frustrating process. You will need to check exchange rates, wait for money that has been frozen or put on hold, and pay hefty international transaction fees. With Bitcoin, however, there’s no waiting time, transactional fees are extremely low and there’s no need to go through the long, complicated processes that banks require before making a large purchase.
- Save on Taxes – In Mexico, there’s a government placed sales tax that applies to all real estate purchases in the Riviera Maya. However, as Cryptocurrency isn’t government tracked, nor does it run through a third party, there’s no sales tax added when purchasing property in Bitcoin. You can actually save money by paying for your real estate investment in the Riviera Maya in Cryptocurrency.
More and more developers in the Riviera Maya are starting to accept Cryptocurrencies, such as Bitcoin, as payment from their clients. However, as this is still a new process, it’s best to get advice from someone who is experienced in both the Riviera Maya real estate market and purchasing from developers in Bitcoin. So, if you’re thinking about investing in a vacation home, a forever home or rental investment in the Riviera Maya and would like to use Bitcoin as your currency, please don’t hesitate to get in touch.