Ethereum has been getting a lot of attention in recent times, yet a lot of people are wondering how valuable this cryptocurrency will be for real-life purposes. As it turns out, Ethereum is becoming popular when used at the Living Room of Satoshi, as they have overtaken Litecoin as the second most popular cryptocurrency so settle bills.
Most cryptocurrency enthusiasts will have heard of Living Room of Satoshi by now, as this platform lets Australians pay their bills with Bitcoin, Litecoin, and Ethereum. The recent statistics for the past three months give an interesting insight as to which currencies are being used, and which services consumers pay for with cryptocurrency.
Although Bitcoin is still the dominant cryptocurrency for payments, Ethereum has overtaken Litecoin for the number two spot. It may come at a surprise to find out Litecoin is being used by people to pay their bills, even though Living Room of Satoshi saw 0.4% of all transactions being paid for with LTC. The number two spot now belongs to Ethereum, with 1.1%, whereas Bitcoin makes up the remaining 98.5%.
Interestingly enough, most people use Living Room of Satoshi to pay their credit card bills with cryptocurrency. In second place are phone and internet, followed by electricity, gas, and rent. The usual suspects make up the top use cases for this platform, although consumers are starting to use the service to pay for just about anything they can these days.
Shopping represents a tiny part of what Living Room of Satoshi is being utilized for these days. This should not come as a complete surprise, as a Bitcoin Debit Card will provide users with a convenient way to spend Bitcoin on most daily expenses without going through a different service to achieve this goal.
It will be interesting to see whether or not the Ethereum trend will continue on the Living Room of Satoshi platform in the coming months. Taking Bitcoin’s number one place will most likely never happen, but it is good to see Ethereum overtake Litecoin already. This goes to show there is a growing demand to use Ethereum to pay for bills and services in Australia.
Source: Living Room of Satoshi
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
GSR has formally entered the ETF market with their first ETF, $BESO, which is listed…
While the Dogecoin community has always had its share of news to talk about, it…
In a major development, Bitget Wallet has announced the integration of Polymarket directly into its…
The Aave rsETH/wrsETH market froze abruptly, leading to a rapid series of withdrawals, including one…
Last week saw major investment firm Strategy Inc. (MSTR) bust into the crypto world with…
One of Bitmine Immersion Technologies came out to be the most aggressive in its cryptocurrency…
