Edwards and Towers – Luxury Homes and Commercial Property in Dubai

Bitcoin

Developers in Dubai now accept Bitcoin

Bitcoin and cryptocurrency has become a hot topic for both professional financiers and also the amateur investor. This has not escaped the attention of some of the developers who are always eager to offer their potential investors something new.

Some developers in Dubai are offering to accept bitcoin as payment for their apartments. This is at it’s early stages ( 2018 ) but will probably become more common as the crypto currency market matures and becomes more widely accepted.

Is paying by Bitcoin for your Dubai property risky?

Not at all so long as you follow the normal rules you will not be at risk. Follow these rules.

  • Ensure that the developer you are buying from is registered at RERA and that the project you are buying into is also registered at RERA.
  • Ensure that you receive a receipt for the amount paid in dirhams. ( The developer will be exchanging the bitcoin into hard currency and then lodging this amount into their escrow account.)
  • Use a RERA registered broker for the transaction. Ask your broker for their RERA credentials.
  • Ensure you will receive an Oqood ( this is a title deed for an off plan property in Dubai and ensures that your property is registered at the Dubai Lands Department.)

With these simple procedures met you will be secure in your investment regardless as to how you pay the ticket price.

For a full list of developers in Dubai that accept Bitcoin please call us directly.

Edwards and Towers - Off Plan