You can buy an apartment in Portugal with DOGE as crypto property listings surge

Dogecoin is often seen as a joke coin, or an asset for TikTok speculators to gamble with, but now you can use the currency to buy an entire luxury apartment in Lisbon, Portugal.

#fntx #btc #doge #cardano #ada #dogecoin #355outubro #portugal #lisboa #portugalrealestate pic.twitter.com/uiPuTnOA55

— FNTX Suisse (@FNTX_Suisse) May 11, 2021

Zug-based crypto payments and OTC liquidity provider FNTX Capital Suisse has partnered with Portuguese real estate developer 355 Developments to offer cryptocurrency-friendly apartments in the capital.

The partnership will enable buyers to purchase apartments on the Governor’s estate for Bitcoin, Ethereum, and Cardano through FNTX’s “Real Estate Exchange,” which updates crypto pricing for each listing in real time. Currently, the exchange has three listings, the cheapest of which is a two-bedroom apartment for approximately 1.57 million Dogecoins, worth about $690,000. The most expensive listing is a penthouse for approximately 5 million Dogecoins, worth about $2.2 million.

Growth Trend

Yahoo Money reported an increase in U.S. sellers looking to accept crypto payments for real estate in April: “Last month, 71 listings on the real estate listings site mentioned crypto or Bitcoin in their descriptions. That’s 14.3 listings per 100,000 homes, the highest rate on record, the data showed.”

On May 7, Cointelegraph reported that Miami’s Arte Surfside luxury condominiums is now accepting real estate payments in multiple cryptocurrencies, including Bitcoin and Ethereum. The complex is home to Ivanka Trump.

Cryptocurrency at the Beach Club

Crypto payments are becoming more and more common. On May 12, Montreal's largest outdoor venue, the Beach Club, announced that customers will be able to buy alcoholic beverages using cryptocurrencies from next year. Beach Club owner Olivier Primeau said on social media: "Beachclub will officially become the first club in Canada to accept Bitcoin and Ethereum as a payment method."

However, the post does not reveal details about how the venue, which can accommodate 100,000 employees, will actually accept crypto payments, with the owner simply saying that it is considering launching “multiple platforms” in 2022.

This suggests that part of the reason businesses are keen to accept crypto payments has to do with gaining free publicity and the future of the digital economy.