Emaar Properties has announced that they will start accepting Bitcoin and Ethereum for payments and purchasing property. This is likely about to change according to a recently released outlet.
Are Emaar Properties accepting bitcoin?
Bitcoin is a digital asset and a payment system invented by an anonymous person or group of people under the name of Satoshi Nakamoto. Bitcoin is the first successful cryptocurrency and it was created in 2008. Bitcoin is used to purchase goods and services online and to make payments in other currencies.
Bitcoin is a digital asset and a payment system invented by an unknown person or group of people under the name Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
Announcement of Emaar starting to accept bitcoin
The announcement about the future acceptance of Bitcoin first came on the local news outlet Lovin Dubai at the end of March 2022. They shared an outlet from Emaar Properties to selected customers where they inform them that they will accept cryptocurrency from now on. There are already advertisements appearing online that invite customers to buy properties and estate in Dubai with Bitcoin. The broker that Emaar will work with within these processes will most likely be Bitcoin Suisse from Switzerland. All this doesn’t come as a too huge surprise if it is considered that the UAE is starting to make attempts in becoming a new crypto-hub to the world, recognizing the large potential of this market. These new developments are most likely targeting the vastly growing customer group of crypto-millionaires who are expected to buy properties and estates in the United Arab Emirates. Buying properties and estates using cryptocurrency is not a new thing altogether. In the last few years, it has become more and more common to enhance this form of payment for real estate-related transactions and so it would make sense for Emaar to follow this trend. There even are a number of companies that specialize in the real estate market only based on crypto payment.
Conclusion
The UAE is a very interesting market for crypto-investment, as the government is supportive of the industry and there are many opportunities for investors to get involved. Even though Emaar Properties hasn’t yet officially confirmed its future acceptance of cryptocurrency, it is very likely that this time, the news isn’t mere rumors but the expanding company is actually about to follow the trends that the Emirates in general and Dubai in special are recently signalizing to the world.
- What is the announcement?
- When will the announcement be made? ..
Emaar, a Saudi Arabian oil company, has been rumored to be accepting crypto in the future. However, this hasn’t yet been confirmed by the company. For this reason, it can be assumed that this is true.
The UAE is a country with a rich history and culture, and it is expected that the transactions in the country will be regulated by an overview body. This body will be made up of representatives from the government, business, and financial sectors.
The Dubai government has announced that it will be regulating all digital transactions in the city-state, through the establishment of the VARA. This body will be responsible for ensuring that all transactions are conducted in a safe and compliant manner. ..
The UAE is one of the most recent countries to legalize cryptocurrency, and it has been doing so in a way that is both supportive and regulated. Dubai, on the other hand, has been more lax in its approach to cryptocurrency and has not yet legalized it.
Dubai is constantly increasing its efforts in regards to establishing itself as a new global player in the field of cryptocurrency and set new guidelines and regulators for crypto trade just this year. (4) The Emirates clearly is hoping to attract a lot of international investors by applying these steps and so it is a reasonable step undertaken by Emaar to follow these recent developments.
