Want To Purchase A Property Using Your Crypto Currencies? Cornerstone Real Estate can make that happen for you!

24 August 2021

Want To Purchase A Property Using Your Crypto Currencies? Cornerstone Real Estate can make that happen for you!

We can offer an easy, stress-free, and legal process to all our clients, whether you are local, here in Pattaya, or currently overseas.

Using the Wanda POS device, it is possible to exchange your crypto currency into Thai Baht, that can then be used to purchase the property of your dreams.

 

How Does IT Work

  • Once Cornerstone Real Estate have identified the right property for you, we can check to see the latest Thai Baht exchange rates for the crypto currencies you have.
  • If the amount to transfer is more than 500,000 Thai Baht you will be required to complete the KYC (know your customer) registration form.
  • All transactions over 3,000,000 Thai Baht can be done OTC (over the counter).
  • Using the Wanda POS device, we will enter the amount of Thai Baht desired.
  • The Wanda POS system will print out a QR code for the user. This allows the buyer to use the QR code to transfer their crypto currency to the exchange.
  • The Thai Baht amount will be transferred directly into the buyer’s Thai bank account, or directly to the buyer’s beneficiary.

Please note that this whole process is facilitated by Wanda Exchange Co., Ltd. This company is the only approved service provider in Thailand that can offer crypto currency payments for high priced goods, and services.

 

How Long Will The Process Take?

The payment confirmation can be complete in just a few minutes. Once this has been processed you will be passed the Wanda POS receipt and will receive an SMS that confirms the Thai Baht amount, and that the money has been received by Wanda Exchange Co., Ltd.

There can be varying confirmation times depending on how busy the blockchain is, and what blockchain transaction fees were paid.

 

What About If I Want To Buy A Foreign Name Condominium In Pattaya?

It is not possible to own land in Thailand as a foreigner (Options For Owning Property FAQ’s Page – CLICK HERE) however it is possible to own a condominium outright in your own foreign name. This is called a freehold foreign ownership title. To comply to Thailand law regarding foreign ownership, you would be required to provide a “Foreign Exchange Transaction Form” at the local land office when the property is being transferred to your name.

Wanda Exchange Co., Ltd will provide this document once the crypto exchange has been completed. This is only in the circumstance that the buyer has a Thai Bank account.

 

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