A First In Denmark: Miner Buys House With Bitcoin Using Coinify …

A First In Denmark: Miner Buys House With Bitcoin Using Coinify …

Coinify APS, a Denmark-based blockchain currency payment provider, is facilitating the first real estate purchase in Denmark using bitcoin. Coinify processed a transaction worth 117 BTC (290,000DKK, $50,000 USD).

The Just-Sold group real estate agency signed up for a Coinify merchant account at the buyer’s request to accept the blockchain payment. The purchase was in process at this report, according to Coinify.

The buyer of the residential property, who requested to remain anonymous, acquired the bitcoins from bitcoin mining over an extended period. The purchased property is in the town of Morkov in the north-west part of Zealand in Denmark.

Another Use Case Study

Coinify, which has facilitated thousands of blockchain currency payments worldwide, saw the request from an individual to support a real estate property purchase as an opportunity to demonstrate another use case for the cryptocurrency. In addition to processing the payment, Coinify assisted with the transaction’s compliance aspects.

“Whenever there are so-called large cash transactions with traditional currency, there are always questions regarding the source of funds,”

Read more ... source: TheBitcoinNews

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