The largest e-commerce store in Latin America is the latest major company in the region to join the cryptocurrency adoption movement. Mercado Libre now allows its customers to use Bitcoin to purchase a certain amount of real estate from real estate agencies.

The listed properties do not provide other payment methods except Bitcoin

According to the announcement, the company, which was founded 20 years ago, offered 75 properties sold by seven agents that accept Bitcoin (BTC) as the only method of payment. Houses, apartments, land, etc. are located in some cities in Argentina, such as Buenos Aires, Santa Fe and Cordoba.

Mercado Libre believes that cryptocurrency is an “innovative value paradise” because its traceability, speed, and security make it an appropriate method for arranging payments.

In fact, this e-commerce store offers a webinar that provides more information about encryption for more than 300 real estate agents.

Juan Manuel Carretero, Business Manager of Vehicles, Real Estate and Free Market Services at Mercado Libre, praised the role of Bitcoin in the way people buy goods today:

We always pay attention to changes in the market. Bitcoin provides multiple advantages for real estate operations, both for buyers and sellers. Today, we launched the encryption part in Mercado Libre Inmuebles, and within a few hours, 75 properties were already available. We hope that over time there will be more things, because far from being fashion, but over time, this trend will be consolidated.

The process of acquiring property with BTC is very simple-the company said, because interested parties should choose their priority assets and list them in legal increments, then contact the institution and agree on the Bitcoin payment at the exchange price of the day protocol.

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Mercado Libre CEO’s interest in Bitcoin

Mercado Libre’s interest in cryptocurrencies is consistent with the comments made by its CEO earlier this year. Argentine billionaire and e-commerce platform CEO Marcos Galpering (Marcos Galpering) said that Bitcoin stores value better than gold.

However, the billionaire believes that the current dominant cryptocurrency will not be able to replace fiat currency because of what he calls the high “energy cost to process his transfers”.

What do you think of Mercado Libre’s announcement? Let us know in the comments section below.

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