Crypto.com estimates that around 106 million people are using cryptocurrencies around the globe. A large number of people invest in crypto to fulfil their dreams of buying a property. Another group invests in real estate alongside cryptocurrency.
The global real estate industry was estimated at 3.69 trillion US dollars in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 7.6% in the period 2022 to 2030. The market is expected to grow healthy during the forecast period, owing to the rising population and a desire for personal household space. In 2021, the commercial real estate space was estimated to be the most critical element driving industry expansion.
As of today, there is no seamless way to buy properties or invest in real estate directly with cryptocurrency, making fiat currency and bank transitions the only option. Also, real estate agencies and websites show their pricing and conduct agreements in fiat currencies. Thus crypto Investors and holders need to convert their crypto to fiat to buy or invest in real estate. The issue of volatility also has a marked effect in the use of crypto as payment option.
Cryptocurrencies are becoming more and more popular every day, and are often faster and safer than fiat currencies. A lot of industries have accepted crypto as a secure payment method. Over 320 million and counting people use cryptocurrencies on a daily basis. However, there is no real estate platform that allows those massive groups of users to buy real estate with their crypto seamlessly without converting it to local or fiat currencies.