UAE The Assets Advisors Real estate firm accepts Bitcoin, ethereum and Tether for purchases

UAE The Assets Advisors, a real estate firm based in Dubai has announced on its website that it now accepts cryptocurrencies as payment for real estate properties being offered. As per their website clients can now own it with Bitcoins and Ethereum " Cash and mortgages neednt be the only way to buy a home in Dubai. If you have stocked up on Bitcoins, that's all you need to pay for the deal." 

Fawzi Hamze Founder and Chief Executive Officer told UNLOCK, " We accept Bitcoin, Ethereum and USDT (Tether) cryptocurrencies for payments. Many clients are now paying for properties using cryptocurrencies, and I believe that tokenization of realestate is very important for the real estate sector and its growth." 

Hamze interviewed by Blockchain news explained, " “Once the client confirms the property he desires to own and we agree on the price, the property details, and the payment schedule, we issue an OTP (Offer to Purchase) as a 1st official contract ensuring the client will buy the property. The client then informs us which crypto he prefers to use, and we check with our 3rd party crypto exchange for the percentage fees.”

In order to make this happen, The Assets Advisors works closely with developers, who are tasked to approve the crypto exchange used as a medium in the transaction. Hamze further explained that this process makes the transaction efficient, transparent, and secure. He adds, “The client will then transfer the cryptocurrency amount to the third-party digital wallet, who will make the payment on the spot to the developer. All communications between parties are official and transparent.”

Once the Bitcoin or Ethereum payment goes through, the client will receive a confirmation receipt from the Asset Advisor developer. A sales and purchase agreement will then be delivered to the buyer by courier, confirming the client as a real estate property owner. Utilizing cryptocurrencies has also saved time and paperwork said Hamze. " now a purchase can be made in less than 30 minutes."