Buy Property with Cryptocurrency

[Neeranam]

In looking at properties to buy and now git a new option to pay. 

 

https://www.siamrealestate.com/news/663/siam-real-estate-has-partnered-with-bitkub-to-accept-cryptocurrencies-as-exchange-for-thailand-real-estate/

[freedomnow]

Just for Thais probably.

[davidst01]

I would want to see that Chanote at the land office with the new owners name (ie me) before I send that crypto!!!

[Neeranam]

54 minutes ago, davidst01 said:

I would want to see that Chanote at the land office with the new owners name (ie me) before I send that crypto!!!

Right, but much the same process as buying with cash.

I could put in my name(naturalized Thai), or my wife/children. 

Buying at the peak of the Bull Run could be a wise investment move. 

[lkn]

 

Quote

 

The steps are as follows :

1. Get your Bitkub Wallet ready or register Bitkub Wallet through KYC process at https://www.bitkub.com/signup
2. Prepare your crypto coins in the Wallet for barter trade.
3. Transfer selected coins to Wallet using a QR CODE created by the staff.
4. Wait for confirmation.

 

The Thai real estate ownership system is medieval, but is it really an improvement to send millions of baht to some custodial wallet hosted by a third party that has nothing to do with the real estate deal, be subjected to their KYC process, only to then send the money to an agent, as opposed to just exchanging a title deed for a cashier’s check at the Land Office?

 

The process described above doesn’t even mention when the title deed is supposed to be transferred into your name, or if anyone in this process provides an escrow service.

[ChaiyaTH]

Anything can be bought with crypto, at the right price. Neither is it anonymous by now, the banks took over late 2017 already (jp morgan). 

Edited November 6, 2021 by ChaiyaTH