Bitcoin came in 2009 and its existence was highlighted by the media throughout the world. However, the value of bitcoin was problematic at first and at one point its value was $1. Fast forward to today and the value of bitcoin has since shot to $4,600. The Miami real estate market is embracing bitcoin as the professionals in the industry like Samuel Strauch have recognized the benefits and values of using the network for large transactions.
Processing Large and Small Transactions
Experts and bitcoin community members have been engaged in various debates. Cryptocurrency makes digital transactions secure as it prevents any third parties from adding units to the currency. The existing debate is on whether bitcoin ought to be used as digital cash capable of handling small transactions or a store of value. At the moment it operates as both, making it a flexible legal tender option.
A number of studies have established that Australian and U.S. banks charge $4,000 for every transaction worth $100,000. When the transaction amount goes up by a few million dollars, the bank charges go up. When using traditional currency, banks can charge $10,000 meaning that the fees are minimal when using bitcoin. Dealing in bitcoin enables millions of dollars to exchange hands fast and at the minimum fee possible. Learn more about Samuel Strauch at ideamensch.com
Uptake By the Real Estate Market
Due to the lower fees charged when using bitcoin, the Miami real estate market decided to embrace it. Mike Komaransky, a bitcoin dealer, recently listed his mansion up for sale at $6.5 million or 1,400 bitcoins. Mr. Komaransky confirmed that the prospective purchaser promised to pay for the house in Zcash, another form of digital currency or using traditional legal tender. Komaransky became a member of a small click of homeowners willing to sell their homes for bitcoins. This method is preferred due to its instantaneous and irreversible nature that makes the process quicker.
About Samuel Strauch
Samuel Strauch, a real estate agent, is a forward thinker who believes that technology holds the key for the future of the industry. According to Mr. Strauch, the industry is fast changing with the times and should embrace fresh business practices. Samuel Strauch holds a business degress from the Hofstra University based in New York. He also went to Harvard University and Erasmus University, Rotterdam.
Samuel Strauch started work in the banking industry before switching to real estate in South Florida. He established his ever-expanding company in 2002. Samuel Strauch established his business in Miami as it was transforming from a vacation destination to a place where people played and lived.