Man buys Kansas home using Bitcoin

OLATHE, KS (KMBC/CNN) – No paper money, no problem.

A man bought a Kansas home using Bitcoin.

KMBC reports the home is worth more than half a million dollars.

Bitcoins are are digital currency that started in 2009.

There are no banks or transaction fees.

The home’s buyer and seller said once they figured out how Bitcoin works — it made the process easier.

“A lot of people don’t understand it, they’re afraid of it and they were willing to take the time to understand it and make it happen,” the buyer Josh Zerlan said. “And to be able to do that, even last year I don’t think it would have been possible.”

“When it was ready to close it was just a matter of me doing an invoice for the amount of the home. And within minutes the Bitcoins were in our account and Bitpay turned it right into U.S. dollars and it was wired into our bank account,” Virginia Hoelting, Highland Park Builders said.

According to local media reports, Josh Zerlan has also purchased two cars with Bitcoin.

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