How to buy real estate in Australia with cryptocurrency

Many people in Australia have chosen to get rich by investing in digital assets like bitcoin and other cryptocurrencies. But could you buy a house with crypto, so you could invest in real-world assets like real estate?

Because cryptocurrency is still new compared to Australia's well-established real estate market, it is unlikely that people will use cryptocurrency to buy houses in the near future.

Thanks to XEROF, you can use crypto to buy real estate, even with real estate agencies that don’t traditionally accept crypto. Through our crypto gateway services, you simply deposit crypto into our wallet, and we in turn deposit the same amount in AUD in the sellers account. 

Benefits of living in Australia

Australia is a great place to live for many reasons. It's an exceptional place, and maybe because of its size, it has some of the most interesting landscapes, plants, and animals of any country in the world.

It is a country that is proud of being fair and giving everyone “a fair chance.” That's because of how it was decided all those years ago. Since some of the first people to move, there, had criminal records, it was thought that everyone should be judged by how they were acting at the time and given a fair chance.

The climate

Australia is a big country, so the climate changes from region to region. However, the whole country is temperate, except for the Northern Territories in the middle, which are so hot and dry that they are almost impossible to get through.

Australia has about 3000 hours of sunshine a year. This is one of the best things about living in Australia. Depending on where you live, you could be enjoying the tropical weather of the North (Queensland), the subtropical weather of Brisbane or Perth, or the temperate weather of South Australia, especially Adelaide.

Great outdoors

There's something very appealing about living outside, and it seems like a lot more free time in Australia is spent in nature. Because the weather is usually nice, people spend a lot of time in their gardens and in the outdoors.

Then there are the many community events that happen outside, especially when it's warm. There are markets, outdoor concerts and movies, sports like hiking and cycling, and countless other things to do. Most people spend at least a few hours a week at the beach, walking their dogs, taking walks, or playing in the water with or without their kids.

Quality of life

This is a phrase we often hear, especially from expats, when people discuss the benefits of living in Australia. But what do they really mean when they sing the praises of Australia's high quality of life? 

Really, it's a mix of things that add up to a great way of life that can't be found anywhere else. These things include the weather, shorter work hours, more public holidays, higher wages, and better food. These are just a few of the many benefits that improve your daily life.

Australia and Crypto

Australian law does not treat cryptocurrency as legal tender because it is not the same as paper money. Australia's central bank, the Reserve Bank of Australia (RBA), says it doesn't have any immediate plans to issue a central bank digital currency (CBDC) for retail use, but it thinks wholesale CBDCs might be useful. 

As part of the 2021 reviews, it was also suggested that the RBA be given more power to regulate stablecoin payment systems, which are becoming important parts of Australia's payment infrastructure (although this has not progressed further).

Even though there are no rules about cryptocurrency in Australia, you still have to pay taxes on it. If you make a profit, you may have to pay capital gains tax on it because it is treated as property for tax purposes. No matter what, the ATO will want to know if you invest in crypto.

Tax implications

In Australia, you have to pay Capital Gains Tax on your crypto investments. You list your capital gains and losses on your Income Tax Return and pay Income Tax on any net gains. Due to this, Australia is fairly relaxed with taxing cryptocurrencies. This could also change in the future as in several countries around the world, laws are changing surrounding crypto.

Real Estate Agents to use in Australia

There are great real estate agents to use in Australia to purchase your new property. 

One of the leading real estate agents is IQI Australia originally named Trident Property partners. Today they have a team of over 18 000 people and operate in over 15 countries. While they are based in Australia, they operate in Southeast Asia as well, in countries such as Vietnam and Malaysia. They specialize in newly built houses and premium properties. 

Another great option is RE/MAX which originally is an American real estate agent. With 7000 offices in more than 1000 countries and over 100 000 employees, they are a gigantic real estate agency. They also operate in Australia and sell both budget homes and luxury properties. 

Even with real estate agents that don’t traditionally operate with crypto, you can use crypto gateway services like XEROF to make use of your crypto. 

Conclusion

Buying a property in Australia or moving to Australia is a great idea for fans of warmer climates and the great outdoors. For fans of cryptocurrencies, it is also a great option, as the taxation of crypto is not extraordinarily high. Pair this with the fact that Australia offers a great quality of life as well as an excellent culture, it is a great option.