One of the most often heard complaints regarding Bitcoin is the fact we can not use it enough for everyday things. For example, when it comes to paying your weekly or monthly bills, there is no option of doing so in Bitcoin directly. That being said, several companies in Europe – and now also Australia – are working towards achieving that goal.
Paying Bills in Bitcoin Around the World
When it comes to paying bills with Bitcoin, there are several ways to go about it. The most obvious choice comes in the form of selling your Bitcoin through an exchange, having the funds deposited into your bank account and then using that money to pay your bills. However, this is a rather tedious process and people would rather just use a service to pay these bills.
In Europe, there are two companies offering such a service at this time. On the one hand, there is BitBill, a service run by Bitcoin enthusiasts based in The Netherlands. In order to use BitBill, you will need some Bitcoins, the IBAN code for the recipient, and his/her BIC code. Using the BitBill service comes at a small fee of 1% of the total amount, + the standard SEPA payment fee of 0.95 EUR. Do keep in mind this service is only available to SEPA countries at this time.
Then, on the other hand, there is a service called Bitwala, which offers a near identical service to BitBill. Bitwala is also only available to European countries, but they charge a lower fee per transaction. As things stand right now, Bitwala charges a 0.5% fee for all transfers, plus the standard SEPA fee of 0.95 EUR. Do keep in mind that Bitwala lets you send up to 500 EUR in payments without verifying your account.
Living Room of Satoshi Launches “Pay Anyone.”
As of a few days ago, Australian bitcoin enthusiasts have a similar service, offered by popular Bitcoin platform Living Room of Satoshi. It is now possible for Australian Bitcoin enthusiasts to pay BTC directly to any bank account. You could compare this service to both previously mentioned platforms in Europe, as the idea behind these services is always the same.
“Bitcoin users can now pay their friends, tradesmen and anyone else; even if the recipient has no knowledge about bitcoin. This is a vital piece of payment infrastructure that is now available to all Australians.” – Living Room of Satoshi CEO Daniel Alexiuc told DigitalMoneyTimes.
Living room of Satoshi’s main goal has always been to enable the payment of everyday bills with Bitcoin. Regardless of whether this is a phone bill, school bill, a tax payment or otherwise, it should be possible to pay it in Bitcoin. Launched back in May of 2014, Living room of Satoshi has processed over AUD$500,000 worth of bills in Bitcoin.
Source: Living Room of Satoshi
Images courtesy of Living Room of Satoshi, BitBill