For some time now, Australians have been graced with platforms or exchanges that enable them to pay bills with cryptocurrencies. Being located in South Africa, this sounds like a dream come true. We take a look at how Australians are paying bills with cryptos.
How Australians are paying bills with cryptos
Earlier this week it was announced that Gobbill, a bill payment company in Australia would be teaming up with the Cointree crypto exchange. The partnership will give Australians the means to pay their utility bills with anything from 50 – 100 different cryptocurrencies. What’s more is that you can pay your bill, regardless if the company accepts cryptos or not. How great is that!
At the moment, Australians can pay bills but only with Bitcoin. The new partnership will include a bigger variety of cryptos that one can use for this purpose. However, looking forward, the company wants to enable its systems so that one can pay your bills with all the coins that are listed on Cointree. Apparently, this will be possible within a month from now.
How does it work?
Basically, all you have to do is credit your Cointree account with the coins you wish to pay the bills with. It’s really simple. You can pay any Australian service provider for services rendered. This ranges from insurance, utilities, council rates and telecommunications.
Link your crypto wallet and choose which bills you want to pay. Besides being able to pay your bills with cryptos, you can also pay them with a credit card or from a bank account.
Which coins can be used to pay bills?
Thus far, Cointree has 27 cryptos but plans to add 50 – 100 more coins once it has successfully integrated with Gobbill. The exchange has more than 50 000 members and paid more than $75 million worth of Australian bills in 2017. The new coins will be listed to keep up with demand from customers.
Alternative crypto bill payment services
Cointree is not the first exchange or company to offer Australians the opportunity to pay bills with cryptocurrencies. Living Room of Satoshi lets Australians pay their bills with Bitcoin and 11 other cryptos. Apparently, more than 100 000 bills have been paid via Living Room of Satoshi. Then there is also Bit2bill and Paid by Coins that offer Australians the same service.
In conclusion, whilst Bitcoin may be known as a store of value it would be very nice if more countries allowed residents to pay bills with Bitcoin and other cryptocurrencies. Just think, there won’t be any disputes over unpaid bills as everything will be recorded onto the blockchain.
Did you know that you can buy miners and other crypto hardware from Bitmart with Bitcoin and other cryptocurrencies? Yes! You can buy cryptocurrency hardware and pay Bitmart with Bitcoin, Bitcoin Cash, Dash, Ripple and Ethereum. We use the Alphacoins payment gateway. Check out our website for the latest products!