Post
Topic
Board Legal
Re: Buying property with crypto
by
virasog
on 05/07/2023, 07:16:18 UTC
To buy real estate for cryptocurrency you need to solve two main problems:
Find a notary and a lawyer who will execute the contract and register this purchase.
You need to pay taxes on cryptocurrency, read the latest tax guides:
https://coinpanda.io/guides/crypto-taxes-france/
https://blockpit.io/en/tax-guides/tax-crypto-guide-france/
Pay your taxes, but don't feel like an idiot afterwards. Some tax rates are inadequate.

The problem to find a notary and a lawyer is not much of a hassle but the problem will be to find a customer who will be willing to accept crypto in order to sell the house. Usually, people will hesitate to receive payments in cryptocurrency as they believe that due to the highly volatile nature of crypto, the price may dump and causes an instant loss.

Secondly, these crypto transactions can only be executed publicly in a country where crypto is legal and the government has no objection to transacting publicly in cryptocurrencies.

As far as the tax is concerned, the parties will have to pay the taxes, either way, whether those choose fiat to execute this deal or use bitcoin/crypto.