Spending cryptocurrency on everyday goods and services remains problematic. Most businesses are not willing to deal with cryptocurrencies and their volatility. A new partnership between Gobbill and Cointree changes that situation, at least in Australia. Paying regular bills with cryptocurrencies is bound to become a lot more straightforward.
Cointree and Gobbill Join Forces
Getting businesses excited about cryptocurrency payments is not easy. Companies fear the volatility associated with Bitcoin and altcoins. Payment processors prevent volatility from causing issues, yet service providers are still slow on the uptake. The new partnership between billing platform Gobbill and the Cointree crypto exchange will introduce new business opportunities. Their joint effort makes it possible for consumers to pay any Australian bill with cryptocurrency.
It doesn’t matter if the bill issuer accepts cryptocurrency payments. All transactions are taken care of by Cointree and Gobbill. The latter company will take the funds from customers and pay bills on their behalf. This new payment method will not replace any of the currently available options. Gobbill supports cards and bank account transactions at this stage. Adding support for cryptocurrencies is a logical choice in this day and age.
This new partnership is a feather in the cap for Cointree. The exchange is on a mission to make it easier for users to buy and sell Bitcoin. Over the years, the company facilitated over 100 million transactions successfully. Partnering with Gobbill ensures cryptocurrency can gain more traction throughout all of Australia. Paying bills with Bitcoin shows how this industry is still evolving as a whole.
Competition Is Heating Up
Cointree already has a system in place to let users pay bills. However, it is still in the early stages of development. The partnership with Gobbill ensures this feature can continue to grow and evolve. Making this feature more accessible to novice cryptocurrency users is one of the top priorities in this regard.
This new partnership also brings competition to another popular Australian service. Living Room of Satoshi allows consumers to pay bills with various cryptocurrencies. The service has been of great interest to domestic users for several years now. It was also the only service provider of its kind for a long time. Competition is direly needed, and the Gobbill-Cointree venture will provide exactly that.
How consumers will react to this offering remains difficult to predict. The Bitcoin price remains relatively low, especially when compared to the value in January of 2018. Consumers often spend Bitcoin when the price is high as they can purchase goods and services with their profits. Even so, paying bills with cryptocurrency can provide a viable alternative for a lot of Australians.
Would you prefer to pay your bills in cryptocurrency? Let us know in the comments below.
Images courtesy of Shutterstock.