Coinify processes the first real estate transaction in Denmark

A Denmark-based bitcoin service provider known by the name of Coinify has recently announced that they processed the first real estate purchase in the country, via bitcoin.

According to recent reports, it seems like the transaction was processed via Coinify’s merchant services, alongside with the help of a real estate agency they partnered up with. The announcement was made via a block post that reads: “A 117 bitcoin transaction worth 290,000DKK was recently processed by Coinify merchant services to facilitate the purchase of a property in the town of Mørkøv in the north-west part of Zealand. “.

The blog posts also states that Coinify has dealt with all regulatory challenges to make this transactions possible.
Since it was founded back in 2014, the Coinify Merchant Services has become one of the leading payment processors in Europe, and proudly ranks as number fifth in the whole bitcoin industry. So far, the company prides itself with having arranged thousands of different bitcoin transactions.

Bitcoin has been used for real estate-related purchases in the past. Homes have been purchased and sold in Greece and in the United States. The Denmark-based transaction was carried out by an undisclosed member of the bitcoin community, who reportedly made quite a nice profit by mining bitcoin in the past, prior to its popularity gain. The real estate agency that backed the transaction up stated that bitcoin is a better method of payment, as it is much easier to verify, and doesn’t require days to process, as cash transactions normally would.

Based on everything that has been outlined so far, this transaction shows yet another part of the potential that bitcoin has for a better financial system, and represents great news for the community. What do you personally think about it? Let us know your thoughts in the comment section below.