South Africans are interested in buying property using crypto-currencies, such as Bitcoin.
So says Candice Dawkshas, CEO of Schindlers Digital Assets, after an auction hosted by Broll Auctions and Sales last week to gauge locals’ interest in buying real estate using digital currencies.
Broll Auctions and Sales, Schindlers Attorneys and Schindlers Digital Assets recently introduced a solution that allows South Africans to buy property using crypto-currency.
It allows crypto-currency holders to convert digital assets into property ownership, while ensuring compliance with the country’s financial regulations.
While no one used crypto-currency to buy property during the 21 November auction, Dawkshas notes the event was a “resounding success”.
“We saw strong interest from buyers eager to utilise crypto-currency for property purchases.
“The level of enthusiasm and engagement from South African buyers was remarkable. Many attendees expressed excitement about the opportunity to invest their crypto-currency holdings into tangible real estate assets.”
She notes the positive response underscores the growing acceptance and demand for crypto-currency integration in the real estate sector.
“No purchases using crypto were made, but there were numerous engagements with our guests to discuss the ins and outs of purchasing using crypto.”
Dawkshas points out that crypto-currency adoption in real estate is gaining traction worldwide.
“Countries like the United States, United Arab Emirates, Australia and parts of Europe have seen an uptick in property transactions using digital currencies. As regulatory frameworks evolve to accommodate these new payment methods, we expect more countries to embrace crypto-currency in the real estate sector.”
She notes that using crypto-currency to purchase property offers several benefits, such as increased liquidity.
“Crypto-currency enables buyers to quickly and easily convert their digital assets into property ownership. Our streamlined platform SchindlersX eliminates the complexity often associated with cross-border payments and currency conversions.”
She adds that accepting crypto-currency opens up the property market to a wider pool of global investors, noting crypto-currency holders can diversify their portfolios by investing in stable, appreciating real estate assets.
According to Dawkshas, this initiative marks a significant step forward for South Africa's real estate industry.
“As crypto-currency continues to gain mainstream acceptance, we anticipate a growing demand for property transactions using digital assets. We aim to revolutionise how people invest in real estate, offering a secure, efficient and compliant platform that caters to the evolving needs of modern investors.”
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