Hello Everyone!
It was brought to my attention by @ausbitbank that https://www.livingroomofsatoshi.com @roomofsatoshi now accepts Steem to bpay your bills or direct to your bank account.
This development was brought by the dedications of our hard working community and maybe a little pestering from https://steemit.com/australia/@ausbitbank/should-livingroomofsatoshi-trade-steem-for-direct-australian-bank-deposits-show-your-support-here.
And yes, I know, trading my precious Steem for that crazy fiat stuff isn't the way we want to be doing things, but I took a hit for you all on the in case some of our harder up Steemians have a need for this in the future.
So here it is!
You can choose BPAY or Bank Account here^
Ensure you use correct details! double check your information always! (maybe even triple check)
You will now have this screen, ensure you copy the Memo and the To address correctly.^
I used bittrex to complete the transaction as all my Steem is powered up currently, but you can send direct from Steemit if you desire. Please check all details before confirming the transaction (I can't stress this enough!)
After your transaction is complete you'll get a result like the above. ^
You can even get a receipt emailed to you for your records if you wish.^
All in all I found it a rather painless process and very interesting way to translate value from Steem directly into the real world.
I hope you enjoyed my guide to paying your bills with Steem.
Have an excellent day and Steem On! <3
Updated with payment proof from the other side.
Great review!
Well I guess we underestimated the power of the Steem community a bit. We were kind of hoping to do a bit of a sneaky soft-launch last night and let people know today :)
But that was a silly thing to try in a community that is designed to surface new and interesting content as soon as possible!
We'e glad that we can provide a small useful service for you all.
Thank you for your response, I hope I didn't cause a stampede on your servers! haha.
And small? perhaps for now, I see a lot of potential in the cryptosphere particularly in Steemit and think you made a very wise choice adding it. <3
I can vouch for this service too, it was beautiful being able to send straight from steemit to my bank account in minutes.
Thankyou @roomofsatoshi !
A few notes for new users :
@ausbitbank coming in with the goods again, you should be #1 witness soon 😄
Thank you for your input! it was rather glorious. <3 \o/
Thank you for the Bump and thank you for the explanation. I have several Friends Down Under and I am excited for them to be able to do this. Steem On!
Thanks for that info @ausbitbank I would hate to have a transaction all set up and then time out on me! I see it lets you even add your own bank if its not listed, pretty neat.:)
How does it transfer so fast (minutes)? Edit: Now I read in the screenshot that it takes up to 2 days.
Yes, 2 days is actually just the worst case scenario. The vast majority of payments arrive in your account the next business day.
Sorry I mean the transfer is confirmed with an e-mailed receipt and confirmation code, but it will take up to 2 business days for the Aussie bank end to clear the funds
Thanks for clarifying
So you can send directly to @roomofsatoshi from your SteemIT wallet?
Basically yeah, but in my test it was the changelly account you send to, guess they use their API and plugged it into their aud bank gateway
Thats good. No need to convert to BTC and use a wallet then. Hopefully more people get on the STEEM bandwagon and allow its use for other payments.
Any nation's bank? Does it still go thru bitcoin?
It's for Australian banks and BPay , no Bitcoin involved.
Very useful information. The more Steem can be used in the real world as a medium of exchange, the more valuable it will become.
+1 it's all about that adoption.
Amen!
Does it only do Steem or SBD too?
Only Steem, but you can convert SBD to Steem on the internal market or on bittrex and use it just as easily.
@mrwang
very informative post, ty for sharing
No problem, glad you found it useful.
wow...wonderful info...am happy to reach and get to know such that my stem is gaining more recognition. Keep it up mate...
Will do Sir. <3
Great post and very informative, I can def. use something like this. Thanks for sharing.
You are welcome. :) I hope it works out just as easily for you as it did for me.
Thank you @sammosk
Cool post! Upvoted!
Thank you!
You get a full power upvote friend. I'm not worth much sadly, but this was much needed information.
So needed that I cannot in good faith not resteem this.
Thank you for your support! I'm just happy that we can even do this now, dropping the barriers one by one.
Now if only it worked for us poor Americans....
I've got my bitpay card, but that's nowhere near as convenient.
Indeed, and the fees. D;
The fees hurt. Though they aren't more than an atm fee.
Will have to check this service out.
This is pretty convenient seeing as Steemit is my only source of income currently. Thanks for sharing.
No worries. :) Hopefully you set up a few more income streams soon.
This is great news!
Indeed!
That's pretty wild. But doesn't the value fluctuate quite a bit from minute to minute? Wouldn't that affect trying to pay an exact balance?
The transaction times out after so long, and the value of Steem on the transaction does not change during the 'lock in' period. So no problems with fluctuations!
Oh, nice! This is literally be-your-own-bank stuff.
Awesomesauce doesn't even begin to cover it. Steem on!!
Oh wow. This is amazing, and it makes want to do better on steem. Thanks for sharing!
So amazing, steem on buddy!
This is pretty good. Taking away all the hassle. Makes life so much easier.
No more muss and fuss with exchange volatility, direct from Steem to your bills and bank. glorious. \o/
Oh wow this is excellent. Now if only it were as simple to buy steem as it is to cash out. Thanks for sharing this! Following you in hopes that you continue to post great stuff like this!
I will do my best to not disappoint. Thank you for the follow. Perhaps we could approach this service for bi-directional transactions? <3
That'd be absolutely amazing if they actually made it happen.
Guess I better start that petition. \o/
I'll sign it!
https://steemit.com/roomofsatoshi/@sammosk/living-room-of-satoshi-bi-directional-payment-petition-directly-from-aud-to-steem-show-your-support-here
Gr8 post!!!I am steemed up!!! Followed you for more!
Steem train rollin strong.
that's super cool, do you think they will extend out to be in other countries?
Only one way to find out, shoot @roomofsatoshi an email or twitter or steem post. :)
email: support@livingroomofsatoshi.com
twitter: @roomofsatoshi
steem: @roomofsatoshi
Great article. Many thanks.
Much welcome!
great post, followed
Would love to see something like that in Canada... that's just awesome.
Where there is a demand, perhaps you could think about setting up one yourself? assess if its financially feasible, get a bunch of Canadians together, start up some VC and make it happen?
I just don't know where I would start exactly.
First you have to power up, preferably over 9000 power units. haha, in all seriousness though.
They have a FAQ and all you need is a bank account supported by the service and or a bpay bill that needs paying.
https://www.livingroomofsatoshi.com/faq
I meant to start my own service in Canada.
Sorry I got sidetracked and thought you were asking how to use the service.
There would be a way.
Alright, I'll do some research and see if it's something I'd be able to do.
Of course I liked it - it makes everything simpler.
This is awesome! I was hoping a service like this would pop up at some point. I'm moving in a few months so this should really help out quite a bit.
Thanks for this @sammosk
Its very cool!
Good news! In the Philippines and Thailand, it is now possible to pay bills with bitcoins as well. More information here.
Awesome!
Interesting.
I thought so. :)
Hey i am Umar Usman
and i am new on Steemit i really like your posts
and i am also following you
can you please follow me back
and upvote my last post
here is the link
https://steemit.com/nature/@omrusman/last-night-s-sunset-over-lake-texoma
Thanks
waiting for your response
follow me . thanks
Already following you :)
Satoshi needs a cottage in Canada!!!!
This is fantastic!!!
Us Canadians are going to need to start hounding https://www.quadrigacx.com/ to accept steem as well. (Currently only ETH and BTC)
The more the merrier I say. Get everyone on board the Steem-Train. \o/
Email sent to quadrigacx support asking to add steem to their supported currencies.
Fingers crossed.
Drive that train home!
Which bills can be paid through this service?
Anyone who is set up to receive an e-check?
Or will they actually mail paper checks?
And, what are the fees?
Do you charge any fees?
No. There are no fees.
The calculated amount you see on the homepage is the only amount you will pay. Living Room of Satoshi makes money from currency spread.
Currently they offer BPAY, so any bill that has a bpay code.
Or you can get the funds wired directly into your account.
check out https://www.livingroomofsatoshi.com/faq
Any bill or online vendor that supports a direct bank deposit or BPay :D
Is this a legitimate service? Seems like it could be a scam to me...
It's wise to do your due diligence in this space - there are plenty of very unprofessional outfits.
We've built up our reputation in Australia for more than three years now as the premier bill payment and bank transfer service for crypto. We won Australia's best startup in 2015, were a finalist this year in the inaugural 2017 Australian FinTech Awards, and were recently featured in Business Insider Australia.
Give us a try! We're happy to help anytime at support@livingroomofsatoshi.com
Glad to hear!
There are quite heavy penalties for fraud in Australia. Many satisfied customers including myself, so I would go with not scam. Dyor though, google around for some other reviews and proofs of service if you are concerned, there are many bad actors in cryptoland.
Also the address is published on the site, address: Level 54, 111 Eagle Street, Brisbane 4000, you could check if it's registered to the business or abn.
useful
Good to see the plumbing in use.
Wow but It seems it only works for Australia??
Sounds interesting, but what does it exactly do? It requires support for BPay, tis seems to be Australian. Never seen it in our brick and mortar shops in the Netherlands or on the internet. I suppose this is more for Australia, or?
Allows you to withdraw to your bank account or pay bills with bpay, exactly what it says on the tin. :)
https://www.livingroomofsatoshi.com/faq
The payment I understand, but I think it is still meant for Australia banks and bills.
Currently and to my understanding, yes, but I imagine if there was a demand for branching out into other banks and payment services it might be considered? I'm not sure on the international banking system as I stay as far away from that fiat silly money as I possible can. Or alternatively you could assess if there was a demand locally, and set up a similar service, distributed services for the win!! This is very cool!!
Thanks! :)
No worries :)
thankyou for ur information @sammosk <3
keepitup!
Will do. :) <3
This is just amazing!
very cool indeed.
Okay only for australia
isn't that excellent -- no fees at all - i am impressed