Blockchain Certainly Won't Block Budding Real Estate Investors - Digital Hints

Thursday, May 31, 2018

Blockchain Certainly Won't Block Budding Real Estate Investors

Even the least tech-minded people out there have heard at least some rumors of a little thing called cryptocurrency by now. It’s a bit of a big deal right now. What’s more, it’s making big ripples in a variety of sectors, and not just because of its soaring stock value.

Bitcoin, and cryptocurrencies in general, are an emerging form of digitalized currency. We’d tell you they’re simple to understand, but...well, they’re not. As can be seen from sites like www.engadget.com, the sheer amount of cryptocurrencies now out there are enough to make things complicated. Add to that the fact this currency is unlike anything we’ve seen, and you can bet it’ll take you awhile to get your head around.



Sadly, we don’t have the time to go into those ins and outs right now. But, to cut a long story short, these digital currencies operate within a thing called a blockchain. And, that’s the ticket we’ll be talking about today. Because blockchain is the platform companies need to use if they’re planning to operate in these currencies. And, a fair few are choosing to do just that. In fact, it’d be fair to say this is one of the main ways technology is changing our industries right now. And, if you’re in the business world, that’s worth paying attention to.

Of course, at this stage, cryptocurrency rates are fluctuating so much that frivolous purchases aren’t an option. Walmart, for instance, wouldn’t do much business if they made it possible to spend Bitcoin on loaves of bread. But, industries which deal in large sums of money would be mad not to consider this. One such sector which seems to be catching up is that of real estate investment.

That makes sense when you consider residential real estate is the largest asset class in the world. In fact, the industry is worth an astounding $27 trillion. Understandably, then, many individuals would be willing to trade in this field. And, with the use of platforms like ihtcoin.com, they can do just that. But, it’s not only existing investors who can find success here. In truth, blockchain platforms can provide opportunities for those who’ve struggled to get on the market in the past. And, here’s how.

Cutting costs

Whichever way you look at it, getting into real estate is expensive. So much, so that many budding investors fail before they even begin. While you do need some money behind you to get started in any field, real estate is high up there for startup costs. And, with house prices always on the rise, that doesn’t look set to improve anytime soon. That is, of course, unless you consider buying on the blockchain.

Perhaps the primary benefit of cryptocurrencies is their independent status. With these babies, no bank takes control of your money. In fact, they quite literally remove the need for a middleman. And, the same can be said when it comes to trading in real estate. Aside from house prices, a traditional investment requires fees for solicitors, estate agents, and more. But, as can be seen on sites like medium.com, blockchains eliminate the need for these individuals. Admittedly, house prices are still steep. But, you’d be amazed how much more achievable your goals will be without those extra costs on top.

Blockchain Certainly Won't Block Budding Real Estate Investors

A chance at a better investment

Blockchain is also fantastic for complete transparency. Rather than parties withholding information as it suits, everyone within the blockchain can see everything. And, that can all the difference for a good investment. After all, the transparency of the platform ensures you gain a fair and accurate representation of house values. You’ll also have complete access to the house purchase history to see how much it’s been sold for in the past and so on. And, all this can work towards ensuring you don’t pay over the odds for a property. Given that every penny counts when you’re first starting out, that can make more of a difference than you’d expect. It’ll undoubtedly lessen the chances of making bad investment decisions. And, it can ensure you gain full value for the house when you come to sell it on.

But, isn’t there some risk?

Admittedly, there are some risks in trading like this. At this stage, it’s an untested method, and there’s no saying what will happen in the future. What’s more, cryptocurrency is, as we said, in a pretty unstable state. But, if the benefits outweigh the risk for you, it’s past time you got started.
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