First Real Estate Development to Accept Bitcoin

Cryptocurrency:

Cryptocurrency is the key to the future. It is almost the end of the year, and one thing that is keeping people excited is the rise and drop in the coin prices. Cryptocurrencies are the quite popular among many people, but still many do not consider it to be the next replacement for money. Some do not even believe it to be an investment; they think that it is some gambling. But to those who understand they will know the real importance of these coins and how much these can change the world.

Bitcoin

Bitcoins are one such cryptocurrency which is accepted worldwide as a digital form of payment. It is one of the first decentralized digital currency. The bitcoins were invented by some programmers and got released in the open source software in the year 2009. For a cryptocurrency transaction, you do not need any private or government agencies to make your sales. Since there is no middleman, you can easily transfer all your money without being charged a transactional fee. The value of bitcoin has raised so much over the years, and over 100,000 users have accepted using bitcoins as payment.

Real Estate Industry:

The real estate industry is another investment market which has been there for quite a while. The real estate industry business deals with selling and buying properties. There are various real estate brokers and agents who assist you in buying and selling the property.

Now it is the time when these two investment industry superpowers have collided and made history. A group called the Knox group of companies which has announced that purchases of their properties can be made in bitcoins. The company has said that the property which is named Aston plaza and residence a 2.4 million square foot of property value that has multiple residences and a shopping mall can be purchased using bitcoins as payments.

The Knox group:

The Knox group has its headquarters in the Isle of Man, and the property which is announced to be purchased with bitcoins are in Dubai.

One Bedroom is about 54btc, and the two bedrooms are about 80 bitcoins. The studio apartments are said to get sold for about 30btc, and customers who purchase with bitcoins are given bonuses and additional discounts. The company says that this is just the beginning and the project is supposed to get complete in the year 2019. The entire property is worth about 325 million dollars. The Knox Company has done an excellent job in understanding the concept behind cryptocurrency and taking a big step into the digital coin world. The company has made an initiative to get payments in bitcoins; this is very promising and inspiring for all the cryptocurrency traders.

Knox Company has taken risks in accepting these payments, and I am sure that these risks will be profited because bitcoins and crypto have increased a massive scale in the past years and it is the next future.