0 sats \ 4 replies \ @Hypnagog OP 14 Jul 2023 \ parent \ on: We bought property in El Salvador. Ask me anything. bitcoin
Hah! I was expecting "did you buy it using btc" questions, didn't think people would start with "how much"!
write
preview
0 sats \ 3 replies \ @fiatbad 14 Jul 2023
Well.... did you?
reply
21 sats \ 2 replies \ @Hypnagog OP 14 Jul 2023
You can buy using bitcoin there, however if the buyer wants usd you need to convert it at the lawyer level. Our lawyer was asking for quite a bit (1.5%!!!) To convert so we just did that locally and wired funds.
We did find another property where the seller accepted btc however, so it is possible. As btc adoption grows hopefully this becomes more commonplace.
reply
1 sat \ 1 reply \ @SpaceHodler 15 Jul 2023
Does the conversion to USD require a local bank account and is it easy to get one? Converting to USD in your country of origin is unfavorable due to CGT, so ideally it would be avoided.
reply
1 sat \ 0 replies \ @Hypnagog OP 15 Jul 2023
Lawyer could have done it for me. But like I said at high cost
reply