Crypto Payments Accepted for Real Estate Transactions in Brazil

8:22 am, Wed, 25 May 22

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Brazil has now been added to the list of countries around the globe that have started embracing crypto assets. The Senate recently approved a bill for digital assets, which is likely to facilitate the official regulation of crypto in the country. Further approval of the bill is still pending, however, it has not halted the plans of a leading company in Brazil to accept crypto payments.

As per reports, a leading real estate developer has started accepting crypto payments for real estate transactions. The company will only be accepting a few crypto assets at the moment. However, it is a major step towards crypto adoption in the country and also highlights the growing prominence of the asset class in the world.

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Crypto Assets Accepted for Real Estate in Brazil

Gafisa, founded in 1954, is now one of the most popular and the fourth largest real estate company in Brazil. According to reports, the company has started accepting crypto payments for real estate. However, the crypto payments will be accepted through the local crypto exchange, Foxbit.

Since February 2021, the company has been working on accepting the crypto king as a payment method. There are numerous intermediaries that make real estate transactions possible, such as real estate agents, banks, payment processors and more.

The company has been attempting to accept BTC payments for its real estate transactions as it removes some of the intermediaries from transactions.

However, this is not the only reason Gafisa wanted to accept Bitcoin as a payment method. The company also started considering the flagship crypto asset due to its prominence in the crypto space.

The CEO of Gafisa, Guilherme Augusto Soares Benevides stated:

There is no way to do business without accepting crypto as a form of payment, because, in addition to representing another way that the buyer can choose to make the payment – focus on Customer Experience – the use of the currency promotes the best for our consumers.”

In total the real estate company is currently accepting 16 different digital assets that include the following:

  • Bitcoin (BTC)
  • Cardano (ADA)
  • Ethereum (ETH)
  • Solana (SOL)
  • XRP

Interested parties can buy a property with crypto by filling out a form. The form will be thoroughly analyzed by the company after which a wallet address will be shared with the buyer.

What Should New Crypto Investors Know?

Novice parties looking to invest in crypto should consider opting for some smaller cap coins before they dive into something bigger. This is a good practice that can help them get a good idea about the crypto market and more.

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  • Keep an eye on the price movement of the digital asset before you purchase it.
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  • Opt for one of the best crypto exchanges that are secure and tick all the right boxes for you.
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