Bitcoin is being used to buy more and more things, and this week saw two new additions as a rare wine retailer signed up to accept Bitcoin and Bitcoin Cash, while a Turkish realtor announced that they had sold nine homes for Bitcoin throughout 2018. This news further strips away the argument that ‘you can’t buy anything with Bitcoin’ and shows that adoption is slowly growing.
Turkish Properties Bought For Bitcoin
Turkish real estate agency Antalya Homes reported Tuesday that it sold nine properties for Bitcoin in 2018, adding to the trend that has been growing as the cryptocurrency has gained in popularity and price. The UK’s first Bitcoin home sale came in December 2017, with U.S. Bitcoin home listings arriving soon after (anyone buying around that time really lucked out, intentionally or otherwise). And, Turkey seems to have got in on the act while no one was looking, with Bayram Tekce, Chairman of Antalya Homes, announcing the sale of the nine properties and the reason why Bitcoin was, and is, a good alternative to fiat currency:
Payment with cryptocurrency enables a more reliable and faster transaction performance such as money transfer between bank accounts without any exchange loss. It is very profitable to purchase real estate for those who want to utilize their cryptocurrency investments in the real estate sector.
Swapping property for Bitcoin made the headlines in early December 2017 when Dutchman Didi Taihuttu sold his house and almost all his belongings for Bitcoin in the belief that it would one day be worth $100,000. Bitcoin isn’t the only currency being used in transactions either – another Dutchman, Dian van Heijningen, advertised his house for sale for €390,000 in VeChain tokens (VET) last August. How these two are faring now is unknown.
Red or White with your Bear Market?
Rare Wine is also now on the menu for Bitcoin holders after online retailer IronGate.Wine announced that they have begun accepting Bitcoin and Bitcoin Cash as payment for their expansive wine collection. In announcing the move, IronGate.Wine president Warren Porter likened Bitcoin to “a currency, not unlike the Dollar or Euro” and also spoke about the benefits of using crypto:
Aside from convenience, the fraud-proof nature of crypto compared to credit cards will completely eliminate fraudulent transactions. In addition, accepting crypto payments greatly decreases our processing fees compared to credit cards.
These twin pieces of news demonstrate that the word is quickly spreading that Bitcoin and other cryptocurrencies have huge advantages as opposed to fiat currencies, particularly for the retailer. This is information that will hopefully continue to proliferate as time goes by and cryptocurrencies gain more legitimacy as a currency alternative.