Real Estate
Posted: 1 year ago

Buying an Apartment with Cryptocurrency in Georgia: The Future of Real Estate Transactions?

Cryptocurrency has gained immense popularity in recent years, and Georgia is no exception to this trend. With a growing number of people keeping their savings in cryptocurrency, businesses are striving to keep up by offering more flexible services.

One such business is Coinmania, a cryptocurrency platform co-founded by Sulkhan Jashi. In a recent interview with BM.GE, Jashi revealed that the demand for their services is also growing in the real estate sector.

Despite being a relatively new payment method in Georgia, Coinmania has developed a system of invoices that makes it easy for construction companies to receive payment in cryptocurrency without any risk or difficulty. This system has proven successful, as Coinmania has partnered with Elt Building to enable users to buy apartments with cryptocurrency. The process takes only five minutes, a significant improvement from the average three-day waiting period.

However, some Georgian companies may be hesitant to integrate cryptocurrency due to bureaucratic accounting processes. To address this, Coinmania has offered technical support and consulting services to business partners. They have even developed a training course for companies and financial managers to improve cryptocurrency accounting and ensure compliance with tax legislation.

For Jashi and Coinmania, the goal is to create a simple and convenient relationship between companies and customers, while promoting the adoption of cryptocurrency in Georgia. As more businesses embrace cryptocurrency as a form of payment, the future of real estate transactions in Georgia may be forever changed.