Bitcoin Dip: Buy a Dubai Villa Today?

June 9, 2022

Now there is an easy way to buy property with Bitcoin—if one is looking to settle in Dubai, that is. The International Business Times reveals, “Coinsfera Makes It Easy to Buy Real Estate in Dubai with Bitcoin.” Reporter Anjali Kochhar writes:

“If a buyer is not a UAE national, then they need to have an original ID or passport to buy properties in Dubai through Bitcoin. Meanwhile, the payment through Bitcoin will be considered in US Dollars or Dirhams. The crypto exchange will help the buyers with selecting different properties at premium locations in Dubai by assigning real estate agents who will help in property dealing. After that, the company will arrange a meeting for further dealing where you can negotiate and finalize the deal. Once all things are decided, buyers can transfer the capital amount in Bitcoin through their wallet. The buyers can have possessions of the villa right after the transfer of Bitcoins. ‘Coinsfera offers luxurious apartments in the great buildings of Dubai. We will not just save your time but also your cost in the transaction process. You just have to select your apartment and we will take care of the rest,’ the statement read.”

Sounds convenient. But who are the customers? We are not sure, but some people in Russia, the Middle East, and Monaco may be interested. The service’s launch follows the passage of recent legislation designed to position the Dubai Emirate as a leader in crypto currencies, NFTs and any other virtual assets that might come along. Founded in 2015, Coinsfera is a Bitcoin exchange firm based in Dubai that also serves customers in Istanbul, London, and Kosovo.

Cynthia Murrell, June 9, 2022


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