{"id":17510,"date":"2022-05-16T17:38:45","date_gmt":"2022-05-16T12:08:45","guid":{"rendered":"https:\/\/zebpay.com\/?p=15059"},"modified":"2022-05-16T17:38:45","modified_gmt":"2022-05-16T12:08:45","slug":"buy-dubai-property-with-bitcoin","status":"publish","type":"post","link":"https:\/\/zebpay.com\/in\/blog\/buy-dubai-property-with-bitcoin","title":{"rendered":"Dubai Will Soon Begin Accepting Bitcoin As Payment In Its Property Sale"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zebpay.com\/in\/blog\/buy-dubai-property-with-bitcoin\/#Buy_Property_In_Dubai_With_Crypto\" title=\"Buy Property In Dubai With Crypto\">Buy Property In Dubai With Crypto<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zebpay.com\/in\/blog\/buy-dubai-property-with-bitcoin\/#Rise_of_Crypto_Exchange_Listing_In_Dubai\" title=\"Rise of Crypto Exchange Listing In Dubai\">Rise of Crypto Exchange Listing In Dubai<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/zebpay.com\/in\/blog\/buy-dubai-property-with-bitcoin\/#About_DAMAC_Properties\" title=\"About DAMAC Properties&nbsp;\">About DAMAC Properties&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/zebpay.com\/in\/blog\/buy-dubai-property-with-bitcoin\/#Key_Takeaway\" title=\"Key Takeaway\">Key Takeaway<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>If you are a crypto enthusiast, then you are most likely to be cognisant of the fact that crypto assets have come a long way from its inception. Crypto assets such as Bitcoin&nbsp; that was built to challenge the regular norms of government and financial institutions, is now being bought over by large financial institutions such as J.P. Morgan and Goldman Sachs.&nbsp;<\/p>\n\n\n\n<p>Not only financial institutions, but several governments are acknowledging crypto assets and are setting regulations to streamline the use of crypto to make purchases across everyday use products. One such country &#8211; the United Arab Emirates, specifically Dubai, has been making tremendous efforts in accelerating the adoption of crypto in the city. In fact, Dubai\u2019s leading real estate developer DAMAC properties has announced that it will accept cryptos (Bitcoin, Ethereum) for sale and purchase of its properties.&nbsp;<\/p>\n\n\n\n<p>For crypto enthusiasts, this is a proud moment because after a decade-long journey of fighting against the government, developed cities are promoting buying properties with Bitcoin. To know more about all of this, continue reading the article. We will first learn about what was the motivation behind implementing such a rule, which other countries are implementing this policy and how Dubai is planning to make further developments to promote and accelerate the use of crypto assets.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-buy-property-in-dubai-with-crypto\"><span class=\"ez-toc-section\" id=\"Buy_Property_In_Dubai_With_Crypto\"><\/span>Buy Property In Dubai With Crypto<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Dubai Virtual Asset Regulation Authority (VARA) has been formed to protect investors legally against any fraud. This has led to higher usage of virtual assets such as cryptos. VARA governs and regulates all transactions happening in special development zones and free zones of Dubai.&nbsp;<\/p>\n\n\n\n<p>As for DAMAC property, some officials have stated that introducing another mode of payment such as Bitcoins is a direct motivation to entice younger generation investors who are comfortable with crypto assets. DAMAC envisions cryptos to be a separate asset class in future and recognises its value against fiat money.&nbsp;<\/p>\n\n\n\n<p>Flexible payment options in purchasing property will bring a wider range of investors globally for DAMAC properties. As a matter of fact, countries in the Middle East make up for as much as 7% of the crypto trading volumes globally. It is believed that the Middle East is the fastest growing crypto market globally.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-rise-of-crypto-exchange-listing-in-dubai\"><span class=\"ez-toc-section\" id=\"Rise_of_Crypto_Exchange_Listing_In_Dubai\"><\/span>Rise of Crypto Exchange Listing In Dubai<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Just as we discussed how the Middle East accounts for a significant proportion of crypto asset trades. That information coupled with the announcement of DAMAC properties has inspired several crypto exchanges to apply for a licence to set up a crypto exchange in Dubai.&nbsp;<\/p>\n\n\n\n<p>Following the announcements by DAMAC, international exchanges such as Binance and FTX Europe too have secured a licence to set up operations in Dubai. Furthermore, exchanges such as ByBit and Oasis have also announced that they have applied for a licence under VARA to set up a crypto exchange business in Dubai. One announcement made by DAMAC properties has brought about a ripple effect in the crypto world. UAE has opened gates to several investors who are now buying properties with Bitcoin.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Not only investors but bankers and financiers who can help provide funding for investors are also planning to set up shop in Dubai. One such company &#8211; Kraken has received regulatory approval from Abu Dhabi Global Market (ADGM) and financial service regulatory authority to become the first crypto exchange that will provide direct funding and trading options to investors in Dirhams (UAE\u2019s local currency) against bitcoins.&nbsp;<\/p>\n\n\n\n<p>For all those who are wondering who DAMAC is, let us learn more about this visionary company.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-about-damac-properties\"><span class=\"ez-toc-section\" id=\"About_DAMAC_Properties\"><\/span>About DAMAC Properties&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Established in 2002, DAMAC properties, a part of DAMAC group has been a forerunner in delivering luxury real-estate properties. It has received several awards for its commercial, residential and leisure properties across several regions such as Saudi Arabia, Qatar, UAE, Jordan, Lebanon, Maldives, United Kingdom as well as Canada. Till date DAMAC properties has built over 39,000 homes in collaboration with world famous designers such as Versace, Cavalli, Paramount Hotels &amp; Resorts, etc. The company is on a mission to create luxury housing for the next generation.&nbsp;<\/p>\n\n\n\n<p>However, buying properties with Bitcoin is not a new phenomenon for the world. Last year in November, Latin American property technology leader &#8211; La Haus made an announcement that it will accept bitcoin as a payment for homes that are integrated with Bitcoin payment processing technology Open Node. The company sold its first property in Bitcoin for 5.78 <a href=\"https:\/\/zebpay.com\/in\/buy-bitcoin\">BTC<\/a> for an apartment sold in Mexico, later that month they made another sale in Colombia for Bitcoin.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-takeaway\"><span class=\"ez-toc-section\" id=\"Key_Takeaway\"><\/span>Key Takeaway<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The bottomline is that the world is moving towards a crypto friendly ecosystem by integrating crypto\u2019s use to real-world purchases. Just imagine living in a country that has hyperinflation such as Zimbabwe, Venezuela, Argentina, Yemen and more. As a citizen, your investment in an asset such as a house, that is of significant value, can go to complete waste if the currency of that country falls. However, with purchase of properties made via Bitcoin you can be rest assured that the currency will not face hyperinflation as there are a limited number of coins that can be minted in the world. As an investor, your investment is secured.&nbsp;<\/p>\n\n\n\n<p>Therefore, such a move by DAMAC properties in Dubai is an indicator of the good future that cryptos hold. However, as an investor it is very important to make sure that you not only make the right investment in the right coin but also choose a secure crypto exchange such as Zebpay &#8211; India\u2019s leading crypto exchange that adopts&nbsp; safe and secured technology that safeguards investor funds.&nbsp;<\/p>\n\n\n\n<p>To know more about crypto assets, start your journey by visiting <a href=\"https:\/\/zebpay.com\/\">Zebpay<\/a>!&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you are a crypto enthusiast, then you are most likely to be cognisant of the fact that crypto assets have come a long way from its inception. Crypto assets such as Bitcoin&nbsp; that was built to challenge the regular norms of government and financial institutions, is now being bought over by large financial institutions [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17408,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[14],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/17510"}],"collection":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/comments?post=17510"}],"version-history":[{"count":0,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/17510\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media\/17408"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media?parent=17510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/categories?post=17510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/tags?post=17510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}