Cryptocurrency transactions
in the real estate
market
with Vera Fund
One of the latest trends in the US real estate market is the popularization of the use of cryptocurrencies as an alternative currency when paying for real estate transactions.
Back in 2018, the first ever such real estate transaction with bitcoin payment took place in the United States.
And already in 2021, Florida Governor Ron Desantis proposed a number of programs that make the state more friendly to cryptocurrency innovations. A similar position is taken by the mayor of Miami.
Investment funds of the state of Florida believe that the turnover of cryptocurrencies entails a significant expansion of the real estate market in the region, contributing, among other things, to attracting foreign investors from various regions, such as Asia, South America, Canada and others.
Vera Fund as the Investment Fund (Florida, USA) offers owners of the alternative currency the opportunity to invest in real estate in the United States with cryptocurrency.
Transactions are conducted through official escrow accounts opened only for licensed brokerage companies.
Cryptocurrencies that can be used for payment are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Shiba Inu (SHIB), Dogecoin (DOGE), Litecoin (LTC) and 5 stable coins pegged to the US dollar (GUSD, USDC, PAX, DAI and BUSD).
The confirmed level when converting cryptocurrencies into dollars for our company to perform Tier 4 transactions: from 100,000 to 5,000,000 US dollars.
In our case, all cryptocurrency transactions go through BitPay as a payment service provider and intermediary for such transactions. The fee for the processing of investment transactions is 2% of the value of real estate, using one of the above cryptocurrencies.
Both residents of the US and foreign citizens will be able to invest in real estate in this way.
The owner of the cryptocurrency, who wants to invest in real estate in the USA, provides Vera Fund with personal information concerning personal data and data about the initial appearance of the cryptocurrency from the client.
Next, the standard process of the 2-3-week KYC (”Know Your Customer”) procedure takes place - the establishment and confirmation of the client's identity by the company, as well as the procedure for making an objective representation of the investment object -"Due Diligence".
If the amount of investment in real estate exceeds 500,000 US dollars, the Due Diligence procedure is carried out by both Vera Fund and BitPay.
When the object of investment has already been determined, a certain payment is made to the company's escrow account in cryptocurrency, which will be on this account until the transaction is concluded. The conversion of funds into US dollars (USDT) takes place at the same moment.
