Spain’s Torrevieja takes a step forward for a digital financial revolution. The city is now embracing the use of cryptocurrency as an alternative payment method. With the latest initiatives taken, the city is now positioning itself at the forefront of Spain's evolving crypto landscape.

On this matter, Torrevieja City has announced its revolutionary plans for digital transformation. Torrevieja announced that they are considering taking initiatives to integrate blockchain technology into daily life. The announcement is published on the official website of Torrevieja City Council on February 6th, 2024. The city aims to digitize its local commerce infrastructure, streamlining cryptocurrency transactions.

The main goal of this project is to position Torrevieja as a leading crypto-friendly municipality in Europe. This will be a collaborative endeavor between the Torrevieja City Council’s Department of Commerce and the Association of Small and Medium Merchants of Torrevieja (APYMECO).

In partnership with APYMECO, this multi-phase project seeks to promote new-generation commerce activities through cryptocurrency transactions. The announcement also stated that the University of Alicante will offer specialized courses on digital payments for local businesses.

The project focuses on encouraging businesses to generate knowledge on blockchain technology. It will help to improve an infrastructure for enterprises to accept cryptocurrency payments for goods, assets, and services. This approach aims to attract more businesses and big-budget investors to Torrevieja. It is expected to enhance the city’s appeal to a diverse entrepreneur base.

Torrevieja's endeavor to become one of Europe's leading crypto-friendly cities signifies a major leap forward. This visionary step also reflects Spain's evolving stance on the burgeoning crypto economy.

Over the decade, Spain has remained relatively open to the crypto industry. There is indeed no legal legislation prepared especially regarding cryptocurrencies and the use of digital assets for now. However, it is expected that Spain might launch a comprehensive crypto legislation soon. As for now, Crypto holders can use their digital currencies in certain purchases, such as real estate, in Spain.

Pay with Cryptocurrency in Spain

cypto-paying-in-torreviejaSharing the same vision of establishing a functional infrastructure on modern payment methods, Spain Homes ® also took revolutionary steps back in 2022. Spain Homes ® was the one that made the first real estate sale in Spain with cryptocurrency. We have delivered hundreds of title deeds with our broad experience in purchasing real estate with crypto.

Property purchasing with cryptocurrency is a secure and easy process if followed properly. These kinds of digital payment procedures consist of several security measurements. These include AML (Anti Money Laundering) procedures and KYC checks.

In this way, the interests of all parties will be safeguarded. Meanwhile, both parties will be fully confident that all transactions are done by the law. It would be a more cautious move to go on with the procedures with an experienced professional. It is essential to be working with an expert for a smooth process. They would be familiar with cryptocurrency for real estate transactions and leave no room for error.

How Does Buying a Property in Spain with Bitcoin Work?

The first step of buying real estate with cryptocurrency is a security check after finding the property to buy. If everything checks out, the next step is the money transfer. While buying real estate with Bitcoin, Ethereum, or else, the buyer makes the whole payment with cryptocurrency. Meanwhile, the seller can receive the sales amount as fiat money. If desired, they can receive the amount as crypto also.

Buying a new home and paying with crypto money gives a wonderful opportunity to transform digital assets into real, immovable property. If you would like to learn more about buying real estate with crypto, read our “Pay with Bitcoin” page.

Plus, you can browse our Torrevieja real estate listings. There are hundreds of properties for sale in Torrevieja Spain to buy with Bitcoin cryptocurrency. When you find your dream home, contact us to get more information and arrange your viewing tour.