The Bitcoin in the purchase of houses.

The Bitcoin in the purchase of houses.

In the digital age, technological means changed the lifestyle of people forever. A world of possibilities opened up before us and with it new forms of exchange. One of them is bitcoin, commonly known as "the currency of the future". Its high price in the world market, has made it famous in recent months.

Bitcoin?

Bitcoin is a cryptocurrency, a digital means of exchange that guarantees the integrity, security and stability of account statements through a network of agents (transactions) verified by "miners" (public in general) who actively protect the network by maintaining a high rate of algorithm processing. In the end, for each operation, the "miners" have the possibility of obtaining a small percentage.

The first cryptocurrency that began operating was bitcoin, which became operational on January 3, 2009. It was created by Satoshi Nakamoto, a pseudonym used by the group of people who developed the digital currency protocol together with the reference software.

Transactions in bitcoins and other cryptocurrencies are not channeled through banks or financial companies, they are also carried out in real time and are irreversible. The most beneficial thing according to the creators of the cryptocurrency is the impossibility of falsification or hacking, since they are part of an extensive system that does not have a centralized node. In fact, the cost to break the security of this system is so high that it is practically impossible.

How to generate bitcoins?

Bitcoins are generated by a user. It must create a public address of anonymous character in which the cryptocurrency will be stored. The transactions go through this address known as "wallet" or "portfolio" and are registered in the blockchain, the spinal cord of the cryptocurrencies. This distributed information system allows you to record and verify the authenticity of all transactions. As this requires a high level of processing, the participating teams - "miners" - receive bitcoins as payment or incentive.

How to use bitcoins?

This cryptocurrency can be used to make purchases on the internet, several companies and small businesses accept bitcoins as a means of payment for all kinds of products and services, from telephony to legal advice and accommodation. To maintain the anonymity of users and be of an international nature, this digital currency has penetrated into unimaginable sectors. The multinationals Microsoft, Dell, Time Inc and Dish Network are some of those that accept payment in bitcoins. Paypal has also enabled payments in bitcoins for four years and some non-profit organizations have begun to accept them as donations.

While it is true that at first was used to make sales of drugs, weapons and other illegal exchanges, the entry of new users has earned him a better reputation. What's more, you can change bitcoins to dollars or euros and vice versa. To do this you just have to deposit them in a digital market and sell them to a buyer who is interested.

How to buy a house with bitcoins?

This transaction is as easy as a common purchase. All you have to do is agree on the transaction with the seller and make the exchange before a notary, you must also sign a document stating the agreed price in euros for the purchase of the house. The notary certifies the transfer of the bitcoins for the agreed amount and concludes the transaction.

Although bitcoin is not a popular currency in Spain, more and more advertisements of houses are beginning to appear in which part of the purchase can be made in this cryptocurrency and many Spanish real estate companies already accept it openly.

The only person who would assume a real risk at the time of the transaction would be the seller of the house, since the value of the bitcoin is volatile and can be depreciated moments after the exchange, or quite the opposite but if you make a considerable profit you will have to pay taxes .

So if you have invested in bitcoins and are interested in buying a house, you can use this digital medium to acquire it. Recall that currently its value is over 12,000 euros.

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