Japan Can Soon Make Utility Bill Payments In Bitcoin

Local digital currency firm Coincheck has announced a new service in which customers in Japan will soon be able to pay their utility bills via Bitcoin. It will be the first of its kind in the country and it is expected to be made available to customers starting this November. To encourage users to make use of Bitcoin and to adopt the service, Coincheck will be offering savings to customers on their bills, with up to 6% in savings for “heavy users”.

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This is good news for Japanese people with Bitcoin, and want to use it to pay for stuff like electricity.

Demon_Skeith said:

Isn't bitcoin an unstable currency? As in worth lots today and worthless the next?

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I think Bitcoin value goes up, and down , but it hasn't been worth nothing yet, so currently holding onto, and spending bitcoin is better than having no bitcoin at all since you can still use it.

There are bitcoin to physical money trading services which let bitcoin users quickly convert their bitcoin into physical money like US dollars with other users and companies if they don't trust bitcoin as a stable currency to hold onto.

There are also online stores which accept Bitcoin to buy physical products like smartphones, and digital media files like music, online movie streaming, movie video files, and subscriptions to websites with paid content where you need to pay to view content.

Demon_Skeith said:

I know it was really low at one time because I read someone buying a ton for dirt cheap.

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In the early days, Bitcoin was worth a few cents per bitcoin. But, now 1 bitcoin is worth around 600 US dollar. There was a time when Bitcoin was worth around $1000.

It is possible to spend under 1 bitcoin like 0.00000001 BTC (about 0.00001031 USD) according to What's the minimum transaction with bitcoin? . The low amount of bitcoin you can spend is useful for buying cheaper items like eBooks which are not worth 1 Bitcoin which is worth around $600 US.

Demon_Skeith said:

There is nothing worse to know that a chance to be rich slipped away.

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I agree, it can be disappointing on missing the opportunity to be richer especially when you only have to spend a few cents or dollars to make a few hundred to thousands of dollars.