MerchantCoin.net facilitates first real estate transaction using crypto-currency in the state of Washington.
September 5, 2014, Seattle, WA—MerchantCoin has agreed to facilitate the sale of the Johnson home on Orcas Island, valued at approximately $1 million and representing one of the largest real estate transactions using Bitcoin, and the largest using altcoins.
Zachary Lark, Director of MerchantCoin, stated, “As a facilitator of crypto-currency transactions, we are happy to see alternative currencies become more mainstream. We believe consumers will become more comfortable using digital currencies as everyday transactions, like buying or selling a home, become more prevalent.”
The 3,600 square foot Orcas home, plus two guest houses, is situated on six acres of private land with access to Spring Point’s private community beach. “Orcas Island is home-away-from-home for many Seattle-area residents, but also a haven for people from abroad.” said Matt Bohner of Jones Lang LaSalle, realtor for the transaction. “By accepting Bitcoin, Blackcoin or Pinkcoin for the sale of this private retreat, we can appeal to a much broader international market.”
The seller, Danny Johnson (aka CryptoCayce), is no stranger to the world of cryptocurrency and the benefits it provides. “As an online poker player I’m comfortable with the digital world. Altcoins provide me with autonomy and control of my assets. They’re safe and easy to use with minimal fees and I find them to be great supplemental payment method. Of course my family’s willing to accept them!”
MerchantCoin is the first digital currency brought to market with the sole purpose of driving adoption of crypto-currency payments in the consumer merchant transaction process. MerchantCoin drives this adoption through a unique set of incentive programs that motivate and empower people (“Advocates”) in their local market; promotional and educational materials that highlight and explain the value of Bitcoin transactions; and technology that provides ease-of-use, leverages the inherent security in the cryptocurrency blockchain and eliminates the credit card fees associated with ecommerce transactions.