If you have part of your wealth in cryptocurrencies, you may be thinking about reducing your risk and buying a house in Bitcoin.

Most of the luxury home owners in Gran Canaria have their savings diversified: a business holding company, rental properties (houses and premises), investments in start-ups, stocks and cryptocurrencies.

The best known cryptocurrencies are Bitcoin and Etherium, the rise they have had in the last year makes some prefer to take part of those profits to invest them in brick, an investment with much less volatility. In Spain it is completely legal to buy a house with cryptocurrencies, the purchase and sale process is the same as when buying in euros. Documentation and taxes are the same.

The most important thing is to fix the price. Normally, the conversion from bitcoin to euros will be made at the time of signing the deposit contract. Here, both parties take a risk from possible market fluctuations. The inscription in the Land Registry it will be done in euros although I sell a house I accept Bitcoin.

You can also be among those who want to get on the trend of cryptocurrencies but have cash. In this case, you can sell your house and accept bitcoins. We cannot predict the evolution of cryptocurrencies, know how much they will go up or down but we do know that, until now, Bitcoin has always recovered from its declines.

For a few weeks Tesla accepted the purchase of his vehicles with Bitcoin, Elon Musk's investment in this cryptocurrency has been enormous. A visionary to follow, we believe these cryptocurrencies will continue to grow. A car (even if it is electric), devalues very quickly. A luxury villa in the south of Gran Canaria is revalued over time. You can rent it as a vacation rental, long-term rental, live in it or hold the investment to resell within two or three years.

If you are thinking of buying a house in Bitcoin, call us at La Boutique · Canary Real Estate, we will help you throughout the process.