Bitcoin / Crypto to USD to buy property

cholita

Registered
Has anyone extracted USD with bitcoin in Argentina to be able to buy property? The seller's martillero publico I'm working with seems to have a way to extract in Argentina and seems like the best way by far to bring in USD. Thanks in advance for any tips!
 

lunar

Registered
Why martillero? Is the property sold in an auction?
So, you send some bitcoins to somebody and then you expect him to pay you in USD?
What if he decides not to do pay?
 

cholita

Registered
My understanding is that Martillero Publicos function like real estate agents in that they're selling/ 'auctioning' the property to the person who will pay the most for it.

From what I understand, the Martillero has a service/person that will give me USD in cash in exchange from bitcoin on Binance. I will then pay the dollar bills to the seller. But yes, that's exactly my question -- does anyone have experience with these services/people who exchange bitcoin for USD in Argentina? I will get more details from the guy but trying to do my own research as well.

EDIT: just did some more research and seems pretty straightforward-- to sell my bitcoin, I wait until I have the physical USD in my possession before I release the coin to the buyer: "Un dato a tener en cuenta es que la plataforma retiene las criptomonedas del vendedor hasta que este confirma que el comprador realizó el pago y ahí recién los libera para que el comprador reciba sus criptomonedas. Esto le garantiza seguridad y compromiso a la ejecución de la transacción." (https://www.infotechnology.com/finanzas-digitales/comprar-bitcoin-y-cripto-dolares-en-argentina-todo-lo-que-hay-que-saber/)
 
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Edu R

Registered
If you're buying a property in your name, I'd be careful that the realtor isn't just having you use a "cueva" (un unlicensed money exchange) because you're going to want to be able to have records of the transaction. I don't mean the confirmation of the transaction on the blockchain but some sort of record of you selling X Bitcoin and receiving Y USD from a specific person who has complied with KYC requirements and has paid taxes on that money.

I'd use a reputable exchange that will deposit USD in your bank account (or possibly the seller's account, that will be up to the exchange). Or if you can't/won't open an account here, I'd take real care on how the payment will be recorded on the deed.

Other than that, the issue of buying a property in Arg came up in another thread, so those recommendations might apply to you as well.
 

lunar

Registered
... but some sort of record of you selling X Bitcoin and receiving Y USD from a specific person ...
And also how did you get this X Bitcoin in the first place. And is this really your bitcoin wallet, or may be it belongs to somebody else ...
 

cuando_volverá

Registered
Other than that, the issue of buying a property in Arg came up in another thread, so those recommendations might apply to you as well.
Please pay extra attention to Nikad's post regarding proof of origin and taxes. If not, you may not only end up losing your money/property, but being prosecuted for money laundering and tax evasion.
 

cholita

Registered
Thanks for the responses. Yes the Bitcoin wallet would be mine. But the issue of taxes etc is certainly a concern.
 

Dougie

Registered
I know people use Binance p2p a lot here, but surprised that it is even being proposed for real estate transactions.

If I was in your position, I get the opinion of other people working the industry to make sure that when you want to sell the property at some point in the future this isn't going to complicate it.
 
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