Mercado Libre Now Accepting Bitcoin in Real Estate Marketplace

April 30, 2021
Share this Post: 

The Latin American e-commerce giant Mercado Libre has set up a section of its Argentinian real estate marketplace site where vendors accept Bitcoin as payment. The move is said to be the first such move by a major property portal operator and has been made in response to rampant inflation of the native Argentinian peso which has led to a boom in the popularity of cryptocurrency transactions.

The section on Mercado Libre's Argentinian website currently has 7 agencies listing some 75 properties from several Argentinian states and even some in neighbouring Uruguay. The company also hosted a recent webinar for interested buyers on the reality of buying a property with Bitcoin.

Speaking about his company's move to embrace cryptocurrency, Juan Manuel Carretero, Head of Real Estate Sales at Mercado Libre Argentina said: "Bitcoin offers multiple advantages for real estate transactions, both for the buyer and seller. Far from being a short term fad, we see it as a trend that will be consolidated over time."

The big drawback of transacting with bitcoin is the volatility of its value. According to the new section's explanatory page, the process for purchasing a house with Bitcoin is the same as it is with any other currency with the interested seller contacting the agency to inform them of their intention to purchase with Bitcoin with the all-important conversion of value being calculated on the day of the deed transfer.

Mercado Libre's founder and CEO Marcos Galperin is a big fan of cryptocurrency and the billionaire is on record as saying that Bitcoin is a better store of value than gold. Although the transactions being facilitated by this new section of Mercado Libre's Argentinan real estate marketplace do not actually occur on the site itself, but rather between the vendor and the buyer themselves through an agency, the company is surely not too far off reaching a point where it will allow users to transact on its own platform in Bitcoin or other cryptocurrencies.

April 30, 2021
Edmund got to know the world of portals and marketplaces working at Mitula Group (which became Lifull Connect after the buyout in 2018). He worked directly with hundreds of portals across the world in his role in the content department for three and a half years before transferring to the SEO department to understand the inner workings of listings sites. He joined Online Marketplaces as Head of Content in March 2020.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Shutterstock 1512498245
Prosus Classifieds See Post Restriction Rebound in FY22 as OLX Brazil Regains Profitability

The internet and classifieds giant Prosus has today disclosed its results for the year ending 31st of March 2022. Highlights...

Read More
Savills Portal Portfolio
Savills to Trial Portal for Super Wealthy Clients

Savills, one of the largest real estate groups in the UK, is trialling a new property portal for wealthy clientele....

Read More
Zoopla Logo E1618475108904
Zoopla Enters Consultation Process with Staff—30 Roles at Risk

Zoopla says it is supporting staff through a consultation process after the portal confirmed 37 members of staff are ‘at...

Read More
Launch Onedome Propertyheads
New Products & Services Roundup: OneDome and PropertyHeads

OneDome and PropertyHeads have both launched new quality-of-life products for the property industry. OneDome, the one stop shop buying and...

Read More

Popular News