RealOpen launches platform for buying real estate using crypto
RealOpen is live, offering a new solution for buying real estate with crypto.
In an exclusive press release shared with crypto.news, the project’s creators said the platform solves major problems for crypto owners looking to buy a home—sidestepping public exchange fees and withdrawal limits, flattening large trade slippage, and eliminating the struggle to find crypto-friendly sellers.
This launch, observers note, may present an opportunity for crypto owners keen on venturing into real estate. The real estate sector, despite the evolution over the years, still ranks as one of the most solid investments, given the association of property ownership with financial security.
A new horizon for real estate investment
RealOpen allows crypto holders to invest in real estate globally without being restricted to crypto-friendly sellers or the tedious conversion through public exchanges. Clients are free to pick up opportunities in Abu Dhabi, California, the U.K. and more—the platform has no geographic restrictions.
Investors create an account on RealOpen, verify their identity, then get a RealScore to evaluate their purchasing power. From this point they continue the home purchase process as a cash buyer.
For crypto owners, getting into this sector with their holdings has been previously problematic. Most sellers and developers only accept cash investments, as they are mostly unequipped or unwilling to handle crypto.
The execution of a cash purchase contract is critical. When it is time to fund the purchase, an investor sends crypto to their RealOpen account.
As a prime brokerage, RealOpen then trades the crypto for fiat through a secure, off-market, off-chain, over-the-counter (OTC) desk as a single trade, eliminating slippage that otherwise plagues large orders.
RealOpen features
RealOpen investors buy property as cash purchasers without manually cashing out crypto positions. Investors can access a broad range of real estate investments with this possibility.
Additionally, there is no price slippage associated with a RealOpen trade. On a public exchange, a large crypto sale causes significant price slippage by the time the trade’s last fill is completed. RealOpen mitigates this problem, saving the buyer upwards of 10% of the home purchase price.
There are also no withdrawal or trade limit constraints. Most exchanges have daily withdrawal limits for users, which is problematic when looking to liquidate crypto assets for a large purchase. Through the platform, users can fund a large purchase since there are no limits.
RealOpen enables crypto holders to buy real estate via a single crypto transfer. To the realtor, property owner and other stakeholders, the client is a cash purchaser, just like any other.
For the buyer, the client can fund your purchase without delays, hefty fees, slippage losses, or withdrawal restrictions. RealOpen opens a real estate express lane for crypto holders.
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