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.
Bitwise Asset Management has just made its first move into tokenized funds, and it comes…
Binance just made a move that blurs the line between crypto exchange and traditional brokerage…
NEAR Protocol has had a month that most blockchain projects would stretch across an entire…
Something is becoming increasingly clear about Chainlink, the integrations are not slowing down. The protocol…
Blockchain investigator ZachXBT has flagged a major stablecoin freeze that is sending shockwaves through the…
From a primarily interest rate swap niche product, Exponent has developed into an onchain capital…
