Leading Luxury Real Estate Agency in Ghana CAMEO1 HOMES, will from July 2019, accept bitcoin as a mode of payment for real estate transactions in Ghana after the launch of their Real Estate Online Platform in July.
According to the C.E.O of Cameo1 Homes, Augustine Ewiah, accepting cryptocurrencies will reflect his company’s mission of embracing global trends in Real estate technological advancements. As the cryptocurrency trend continues, buyers in real estate transactions have begun to express interest in financing their purchases using digital currencies like Bitcoin.
Cryptocurrency allows parties to transfer large sums of money with relatively low fees and little interference from third parties . In a press release on Wednesday 27th June, 2019, Augustine Ewiah indicated that Cameo1 Homes, a subsidiary of Cameo1 Group, will from July 2019, accept Bitcoin (BTC), Ripple (XRP) and Bitcoin Cash (BCH) as payment for the purchase of Properties on their platform.
Augustine further indicated that the Introduction of cryptocurrencies as a mode of payment in the Ghana real estate market will offer additional value to the investments of property owners and offer them a less risky and safer investment options.
With the Launch of Cameo1 Homes website, payment will be calculated using the exact stock exchange value at the time of the payment to mitigate the imapct of the volatility of the value of the cryptocurrencies on investors.
Buyers will have the option of paying just a percentage with Bitcoin and the rest in Dollars or Ghana Cedis. With the Launch of Cameo1 Homes online platform for real estate cryptocurrency transactions, Ghana will become the first in West Africa and among other countries to accept Bitcoin in Property purchase transactions.