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You Can Now Use Dogecoin To Buy Luxury Apartments In Portugal

Report said that you can now use Dogecoin to buy luxury apartments in Portugal, with a penthouse on sale for around 5 million DOGE, worth around $2.2 million.

It has been reported that Zug-based crypto payments and OTC liquidity provider FNTX Capital Suisse has partnered with Portugal-based property developer 355 Developments to offer condos for crypto in the capital.  

However, the partnership will enable buyers to purchase apartments with Dogecoin, Bitcoin (BTC), Ether (ETH), and Cardano (ADA) through FNTX’s “Real Estate Exchange,” which updates the crypto pricing of each listing in real-time. There are currently three listings on the exchange, with the cheapest, a two-bedroom apartment, priced at around 1.57 million Dogecoin, worth around $690,000. The most expensive listing is a penthouse priced at around 5 million Dogecoin, worth around $2.2 million.

Yahoo Money stated:

“Last month, there were 71 listings that mentioned crypto or Bitcoin in their descriptions on the real estate listing site. That’s 14.3 listings per 100,000 homes, the highest rate on record, according to the data.”

Likewise, crypto payments are becoming more and more widespread. On Wednesday, Montreal’s biggest outdoor venue, “Beach Club,” announced that patrons will be able to purchase alcoholic beverages with crypto, starting next year.

Crypto payments are becoming more widespread after FTNX announced a partnership with 355 Developments to allow buyers to purchase luxury real estate in Portugal with DOGE. — Cointelegraph (@Cointelegraph) May 13, 2021

Olivier Primeau, the owner of Beach Club, said:

“Beachclub will officially be the first club in Canada to accept Bitcoin and Ethereum as a method of payment.”

The post was light on details about how the 100,000 capacity venue would actually accept crypto payments, with the owner simply saying there are “several platforms” being considered for launch in 2022.

Thus, this suggests that part of the reason businesses are keen to accept crypto for payments has as much to do with getting free publicity as it does the future of the digital economy.

Source: Cointelegraph | Image: Sandy Blue



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