Buy a Property Using Bitcoin in Koh Samui, Thailand

February 5, 2022

Did you know you could buy property using Bitcoin or other cryptocurrency in places like Koh Samui, Thailand? You should definitely look up such properties from companies like Conrad Properties Asia.

It's true. Cryptocurrency like Bitcoin is the wave of the future of currency and exchange. You can make use of your crypto right now without cashing it into raw money (in light of its volatile nature) by instead investing it in something solid like Koh Samui property!

What is Crypto? What is Bitcoin?

Cryptocurrency is a virtual or digital type of currency. It uses cryptography for security purposes. Through this, it's nearly impossible to double-spend or counterfeit your crypto. Many cryptos are decentralized networks using blockchain technology.

Cryptocurrency was invented in 2008 by an unknown person or group of people using the moniker "Satoshi Nakamoto". This currency type started being implemented in 2009, around the time of its release as open-source software.

In turn, blockchains are distributed ledgers enforced by a distinct network of computers. As for Bitcoins, they're a type of crypto and they're collectively a decentralized digital currency. They don't have a single administrator or central bank.

Furthermore, it can be sent from one user to another on the peer-to-peer (P2P) Bitcoin network in a direct manner, without the involvement of middlemen.

How Does Bitcoin Work?

The process of mining is how Bitcoins are derived or created. They can be exchanged for other currencies like ordinary money, with Bitcoin having a real-world value that's mostly volatile (arguably as volatile as if not more so than binary options or stocks).

BitPay in particular allows you to exchange your Bitcoin for real coin or real currency in accordance to the current value of Bitcoin (which varies even throughout the same day).

You can also exchange Bitcoin for various services and products outright, as in the case of realty agencies like Conrad Properties Asia offering Bitcoin options for certain properties in Thailand, particularly in Koh Samui.

More than 100,000 merchants all over the world accept Bitcoin at present. They include Subway, Expedia, and Microsoft.

The Rise of Bitcoin in the 21st Century

According to research conducted by the University of Cambridge, there were 2.9 to 5.8 million unique users with their own crypto wallet in 2017, many of which were of the Bitcoin variety.

December 2017 also served as the year when Bitcoin reached a record high of above $19,888 before it plummeted to $11,000 in December 2017 as well.

The adventurous consider Bitcoin a risky investment opportunity. However, when it became more widespread, it was also considered an alternative method of payment for regular things, like people using Bitcoin to pay for pizza delivery.

It's possible to purchase a home with Bitcoin. It's not as difficult as you'd presume. You simply need a buyer and a seller (like Conrad Properties) to agree upon a Bitcoin exchange for a given real estate.

How Do You Buy a Home with Bitcoin?

If you wish to purchase a home with Bitcoin, here's how one particular buyer went about it. A Manhattan realty developer and real estate owner didn't use the obvious Bitpay method and opted for raw Bitcoin payment.

• A Long-Term Method of Making Payment: Magnum Real Estate Group's Benjamin Shaoul claims to have buyers who wish to pay directly in Bitcoin and thus he plans to keep the crypto for himself. He also says that it's a long-term method of making payment.

• Open Listings: There are websites like Open Listings and services like Conrad Properties that make it easier for you to find properties for sale for Bitcoin. Open Listings in particular offers you a search tool that enables you to look for terms such as "Bitcoin" or "ethereum" (another crypto type).

• A New Concept in 2017: Back in 2017 or a good 4 years ago, the idea of using virtual currency to buy property was new. Many newcomers to crypto were hesitant, choosing instead to cash out Bitcoin by Bitpay to have the money to purchase realty the usual way. Even in 2021, cashing out Bitcoin for realty purchases is the way to go.

• Not so Novel in 2021: Back in 2017, there were concerns regarding the lack of crypto regulation and how gains from Bitcoin are supposed to be taxed. In 2021, even with the recent Bitcoin value plummet, it's a regular occurrence to use the coin or fractions of it for property purchases.

• Escrow and Insurance Hesitation: Experts warn of how Bitcoin-based realty purchases aren't always simple or easy. It should be dealt with on a case-by-case basis. Open Listing says that even though some sellers are willing to accept Bitcoin offers, it's hard to find escrow companies and title insurance providers that feel comfortable with crypto transactions.

• There Are Ways to Make It Work: There are ways to make Bitcoin purchases work that won't have the virtual money exchange end up in high water because no financial institution wants to deal with it and its volatile value. The challenge is about which company is willing to do such a large exchange.

The First Single-Family Home Sale in Texas Involving Bitcoin

Back again in 2017, the first single-family home sale in Texas involving Bitcoin came about. How did it go about? This particular instance involved completing the transaction with BitPay.

They change the coin to dollars in its current value at any given time so the timing of the purchase is also important in light of the volatility of the crypto. In the case of the Texas sale, the seller wanted U.S. dollars instead of a raw Bitcoin transaction.

BitPay has dealt with other realty transactions, such as selling a Lake Tahoe property in 2014 for about $1.6 million worth of Bitcoin, which at the time was 2,739 Bitcoins. At the time of this writing, 2,739 Bitcoins are worth $104.8 million in 2021.

What are NFTs?

Non-fungible tokens (NFTs) are composed of blockchain-stored data. They certify the uniqueness and ownership of a digital asset when push comes to shove. These NFTs serve as your method of certifying audio, video, photos, and digital art.

NFTs enable you to buy and sell ownership of unique digital items while being able to keep track of their ownership via blockchain. An NFT can contain anything digital, which ranges from items in video games, songs, animated GIFs, and drawings.

The NFT can represent one-of-a-kind items such as a real-life painting as well as a copy of mass-produced items, like trading cards. Regardless, the blockchain traces who owns the file.

There are NFTs being sold for millions of dollars in 2021. High-profile memes like "Nyan Cat" and the "Deal with It" sunglasses meme have been put up on auction. People also discuss how NFTs have an environmental impact as a virtual technology that uses up massive amounts of electricity.

However, selling memes for auction is one thing. Selling properties through NFTs and Bitcoin or ethereum blockchains is a whole other kettle of fish altogether.

Viability of NFT-Based Property Sales

With that said, NFTs have moved from the digital world to the real world, particularly the real estate world. According to The Verge, a broker in California sold NFT alongside the physical home itself a few months ago this April 2021.

On one hand, Mercury News reports the sale didn't end well with zero bidders on the NFT. On another hand, several NFTs have ended up being sold. The "Mars House" NFT, in particular, got sold for half a million dollars according to news agency Inman.

At present, digital auction sites have made available a variety of realty NFTs, such as the $30,000 NFT for the Trump Tower in New York City.

Digital real estate art assets are more the speed of NFT at present, but could it be possible to sell physical real estate with the promise of blockchain? Furthermore, the concept has been done before by TechCrunch Founder Michael Arrington.

Regardless, impact on property ownership and virtual transactions cannot be denied.

The First Successful NFT Property Sale Has Been Done Before

The Kiev apartment of Michael Arrington—the founder of TechCrunch and Arrington XRP Capital—had made history back in 2017 by being the first property sold as NFT in a blockchain sale.

The apartment was put up for auction and won by Arrington in a history-making bid. The Kiev apartment NFT sale offered real ownership of the physical property and was initially listed at $20,000.

This international transaction happened via smart contract on the ethereum blockchain. It used cryptocurrency in order to become the first-ever property sold and transferred completely by blockchain.

Blockchain investors and crypto holders can use NFTs, Bitcoins, ethereum, and other cryptocurrency tech in order to achieve self-driving real estate transactions. After all, properties compose the asset class that should become part of a more decentralized economy in the future.

Additionally, Conrad Properties itself is helping many homebuyers and agents make offers and complete luxury villa transactions through their secure online platform and experienced service when it comes to crypto-based realty transactions.

The Properties Available

Here are some of the properties for sale available for blockchain purchase in Bitcoin or NFT.

1. Sumptuous 3-4 Bed Sea-view Pool Villas in Chaweng: For the affordable price of THB 21.5 million (or its equivalent in dollars or Bitcoin), you can avail of three remarkable eco-luxury villas for sale in Koh Samui. A local, award-winning developer helped build it from the ground up.

The twin luxury villas have stunning, scenic sea-views at Chaweng bay. What's more, they offer architecture with a rustic chic style that's all the rage at present. The project is located in a secure gated estate that's elevated position on the hillside of Chaweng.

The luxury villas offer a homely interior that has the most detailed wooden designs spread across 3-bedroom layouts. The rustic property also comes with its own linen curtains and furnishings, like its local stone walls, which contrast with its modern interior design.

It also comes complete with amenities, nearby restaurants, and beaches galore just a drive about 5 minutes away. Whether you're currently a crypto billionaire or have Bitcoin to spare before its volatile value plummets further, now is your chance to exchange it with a worthwhile asset.

2. Gorgeous 3-4 Bed Luxury Sea View Villa in Chaweng Noi: You can also avail via NFT or Bitcoin blockchain this gorgeous sea-view villa in Chaweng Noi for THB38 million (or its current Bitcoin or dollar value). Lying across the bosom of the scenic rock formations of breathtaking Koh Samui, this dramatic luxury villa concept has it all.

It offers sweeping oceanic horizons that should complement the under construction 3-4 bedroom villa. It's located on prime Koh Samui plot’s east coast. The investment potential of this would-be villa is quite vast in light of its touristy location and vacation home or timeshare potential.

Its design was plotted by one of Thailand's finest developers. The villa should in the future offer a striking façade filled with sleek lines and an open view nestled across rocks like a medieval castle. It's a mix between modernity and Mother Nature rolled into one villa.

The dining space and living space has a stylish open-plan pizzazz to it through its installation of natural stone and wood structures along with full-length glass sliding doors that allow you full view of the majesty of the Koh Samui coastline, stunning ocean views, and tropical greenery.

3. Palatial 5 Bedroom Sea view Villa on Chaweng Noi Peak: If you want to spend your Bitcoin on a palace instead of a castle-like villa concept that's under construction, then avail of the palatial 5-bedroom sea-view villa on Chaweng Noi Peak for THB290 million (or its equivalent in dollars or Bitcoin).

Swim in the opulent glory of the magnificent design of this 2,600 square meter real estate masterpiece. This newly constructed and completely modern 5-bedroom and pool villa is located at the Chaweng Noi hillside's peak.

The prestigious property comes complete with elevated luxury hillside living and an ocean panorama for good measure. This slice of heaven across Chaweng Bay will give you the taste of the suite life, as though the Garden of Eden or something approaching it has returned to earth.

If you want to swim or bathe in privacy without going to the beach, the palatial villa has its own pool on top of 5 luxury en-suite bedrooms and 6 bathrooms with complete amenities. The ocean across Chaweng Noi bay looks especially spectacular during sunsets.

For all you Bitcoin millionaires out there, his heavenly property is a good investment while Bitcoin's volatile value is quite high. After all, properties are assets you can depend on when push comes to shove, especially in this economy.

What are You Waiting For?

Verifying Bitcoin transactions typically involve network nodes and cryptography. To be more specific, the nodes are cryptically recorded by a blockchain or a publicly distributed ledger. NFT tech, in turn, helps certify items like properties for a blockchain sale.

Therefore, this wave of the future in money and currency should help you solidify your future fortune with something tangible, like properties you can become the landlord to for rental or use as a commercial resort as well as a timeshare.

At any rate, go and invest in property using Bitcoin in Thailand right this minute! With your Bitcoin, you can purchase realty ranging from luxury beachfront villas to sea-view vacation homes as well as land investments, modern apartments, foreign freehold condominiums, commercial properties, and more!