South Africans now have the option to purchase property with crypto

South Africa’s residents will now have an opportunity to spend their digital assets on real estate. The move is marked as a groundbreaking moment for the local property market, giving cryptocurrency holders a chance to spend their coins and tokens and convert them into property ownership. 

As of now, using your crypto wallet in South Africa to purchase a property is fully legal and complies with the country’s financial regulations. Broll Auctions and Sales, Schindlers Attorneys, and Schindlers Digital Assets formed a partnership that allowed this groundbreaking moment to happen by combining financial, legal, and property services.  

Crypto on the rise

The news comes at the perfect time for crypto enthusiasts, as cryptocurrency value soars after Donald Trump’s appointment as the new president. Ever since he became the president for the second time, Bitcoin’s price rose to a new high. 

This shouldn’t be a surprise as Trump himself promised during his campaign that he would make way for a more friendly regulatory environment for the crypto world. He even made a promise that the US would become the crypto capital of the planet under his leadership.  

South Africa isn’t too far behind in cryptocurrency adoption. The area found a way to incorporate these digital assets into regular life, making crypto a viable alternative to traditional payment methods, such as credit and debit cards. The majority of South Africans have Visa and MasterCard credit cards – they, along with the ones who don’t rely on credit cards can now use cryptocurrency to pay for bills, groceries, and properties. 

A valuable partnership

Broll Auctions and Sales becomes the first company of its kind to offer its clients a chance to purchase a property with cryptocurrency. The adoption of this modern payment solution is completely in tune with the company’s commitment to technological innovation, as stated by the company’s CEO, Norman Raad. 

Two other companies will also be involved in every crypto transaction made in the real estate sphere – Schindlers Digital Assets and Schindlers Attorneys. The first company provides services in the financial department, and it will enable the conversion of crypto into fiat currency. The second company will ensure that the entire ordeal is legal, helping buyers handle property transfer and all the nuances that come with it. 

This partnership marks a groundbreaking moment for property purchases and transactions in South Africa. The demand for cryptocurrency in the real estate world has never been higher, and South Africans had their first shot at purchasing a property with digital assets just recently.
On 21 November, Broll Auctions and Sales held an auction in Johannesburg, allowing people to explore the real estate market and ponder about making a crypto transaction. 

Generally speaking, crypto transactions are safe as they use advanced encryption. However, as someone holding these digital assets, it’s important to take measures of precaution and protect yourself from fraud. Be very careful which devices you use when making crypto transactions, and always connect to a secure WiFi only.