Coincheck of Japan Rolls Out Bitcoin (BTC) Payment for Gas - page 2.

exstasie

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Quote from: alyssa85 on October 07, 2019, 06:58:58 AM

In theory this is really good for adoption.

In practice - who knows, it depends on ordinary Japanese taking up the offer to actually use their bitcoin for something. Hopefully the 3% discount will encourage them, though some may decide they'll make more by just hoarding their bitcoin.

They actually get a 6% effective discount. 3% off for paying with BTC, plus a 3% rebate paid to their Coincheck wallet. Pretty huge! They also seem to have a similar program for electricity bills.

I wish we had deals like this in the US. AT&T (huge US telecom provider) added the option to pay via Bitpay but they offer a 0% discount. Undecided

Mometaskers

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Reminded me of the 10% phone credits rebate a wallet/exchange in our country have. They also have a promo but they are for bills in general and a fixed amount of credits.

Hopefully the actual utility providers here see the benefit to them of having people pay with crypto (less operation cost, etc) and offer similar promos.

abel1337

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Quote from: AniviaBtc on October 07, 2019, 10:41:17 AM

Quote from: alyssa85 on October 07, 2019, 06:58:58 AM

See

https://bitcoinist.com/coincheck-rolls-out-bitcoin-btc-payment-for-gas/

Quote

The Japanese crypto trading giant announced the move in a press statement issued on Friday (October 4, 2019). The program is a result of a partnership between Coincheck and a couple of gas companies in Tokyo.

Dubbed “Coincheck Gas,” users of the platform can pay their domestic gas bills in bitcoin. According to the press release, BTC payments for gas under the program will attract a 3% discount.

Also, the company says it will gift users 3% of their monthly gas bills in bitcoin sent to their Coincheck wallets. Coincheck Gas is a follow-up to “Coincheck Electricity” which the company rolled out back in 2016.

These services are part of efforts by Monex — Coincheck’s parent company to boost mainstream BTC adoption. The company also has other programs that allow customers to swap loyalty points for cryptocurrencies such as bitcoin.

In theory this is really good for adoption.

In practice - who knows, it depends on ordinary Japanese taking up the offer to actually use their bitcoin for something. Hopefully the 3% discount will encourage them, though some may decide they'll make more by just hoarding their bitcoin.

We knew that there are various ways of payment method. Japan is very transparent that they adapt bitcoin already in many transactions. Paying Gas using bitcoin is very helpful for the cryptocurrency to promote itself, for the authorities to know the quality of transaction using bitcoin.

The 3% discount is really a big help, although it is a cheap discount. At least, it lessen the price of the gas you buy. Many benefits are waiting in using bitcoin in the market.

The company that is offering such service to the Japanese is very generous especially that they are starting to adopt bitcoin as their payment method and I'm sure that the steps they are making today will surely pay off someday.

Giving 3% rebates on their monthly purchase is a good promotion that can make people to switch to bitcoin as their payment method. I'm hoping that our country would have something like this specially on most common stores to be more appreciated by the crowd.

el kaka22

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Ohhhhh such a great thing for bitcoin to be used. I wish my country had something like this, I would really love to pay all of my bills with bitcoin, it is currently in automatic payments back in my cash bank account so I have to open my mobile phone and pay so it is not a huge deal but I would love it if I didn't had to cash out bitcoins to pay them and just keep them in bitcoin.

It is not even that difficult to manage, you can literally just talk with few companies and just have a contract with those companies saying you can be a middleman and be paid in btc but pay those companies in fiat. I think even a simple wallet company can do something like this. I think there could even be a global company that can do this all around the world, all you need is bank accounts and registered companies in any country you want.

ecnalubma

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Sounds like a good deal for Japanese, discounts and reward system like this will encourage their costumers to buy more Bitcoin to take advantage of the discounts. Offers like this will help company gain loyal customers, a mutual benefit for both.

AniviaBtc

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Quote from: alyssa85 on October 07, 2019, 06:58:58 AM

See

https://bitcoinist.com/coincheck-rolls-out-bitcoin-btc-payment-for-gas/

Quote

The Japanese crypto trading giant announced the move in a press statement issued on Friday (October 4, 2019). The program is a result of a partnership between Coincheck and a couple of gas companies in Tokyo.

Dubbed “Coincheck Gas,” users of the platform can pay their domestic gas bills in bitcoin. According to the press release, BTC payments for gas under the program will attract a 3% discount.

Also, the company says it will gift users 3% of their monthly gas bills in bitcoin sent to their Coincheck wallets. Coincheck Gas is a follow-up to “Coincheck Electricity” which the company rolled out back in 2016.

These services are part of efforts by Monex — Coincheck’s parent company to boost mainstream BTC adoption. The company also has other programs that allow customers to swap loyalty points for cryptocurrencies such as bitcoin.

In theory this is really good for adoption.

In practice - who knows, it depends on ordinary Japanese taking up the offer to actually use their bitcoin for something. Hopefully the 3% discount will encourage them, though some may decide they'll make more by just hoarding their bitcoin.

We knew that there are various ways of payment method. Japan is very transparent that they adapt bitcoin already in many transactions. Paying Gas using bitcoin is very helpful for the cryptocurrency to promote itself, for the authorities to know the quality of transaction using bitcoin.

The 3% discount is really a big help, although it is a cheap discount. At least, it lessen the price of the gas you buy. Many benefits are waiting in using bitcoin in the market.

BitHodler

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The article is a bit confusing.... is it only 3% that you save on a monthly basis, or is that on top of the 3% in discount when you pay with Bitcoin? I personally think it's just 3% on a monthly basis.

I'm not sure what other cash back programs are running in Japan as we speak, but if it's unique to Bitcoin, then it might incentivize people to actually pay their gas bills in Bitcoin. If it isn't unique to Bitcoin, then probably not.

Either way, this is great news for Bitcoin nonetheless. I have seen people complain about not being able to pay for their every day spendings in Bitcoin, well, we're getting there slowly but surely.

Pearls Before Swine

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Very nice, the more adoption the better in my opinion. I would not pay my gas bill with bitcoin, but I think its a great thing that it's being offered as an option here. Only when people are able to pay for their basic needs with crypto will it ever reach mass adoption, and one's gas bill obviously falls into that category.

Quote from: Wexnident on October 07, 2019, 09:52:39 AM

Well, at least we can see adoption occurring right? at the very least, we can see that bitcoin is starting to influence different models of business

Yes, that's the main thing here. Whether anyone takes advantage of this is another story, and I do hope that the option remains available even if this place's customers don't use it extensively.

Wexnident

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Well, at least we can see adoption occurring right? at the very least, we can see that bitcoin is starting to influence different models of business, not just casinos and investment markets but also those that almost all people use every day. Although the benefits offered are still a bit on the low side, at the very least, it's a small step forward. And the loyalty points change to bitcoin is an interesting idea since it really shows how not only can bitcoin be adopted to payments but also to promos and events that businesses can offer.

teosanru

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Quote from: alyssa85 on October 07, 2019, 06:58:58 AM

See

https://bitcoinist.com/coincheck-rolls-out-bitcoin-btc-payment-for-gas/

Quote

The Japanese crypto trading giant announced the move in a press statement issued on Friday (October 4, 2019). The program is a result of a partnership between Coincheck and a couple of gas companies in Tokyo.

Dubbed “Coincheck Gas,” users of the platform can pay their domestic gas bills in bitcoin. According to the press release, BTC payments for gas under the program will attract a 3% discount.

Also, the company says it will gift users 3% of their monthly gas bills in bitcoin sent to their Coincheck wallets. Coincheck Gas is a follow-up to “Coincheck Electricity” which the company rolled out back in 2016.

These services are part of efforts by Monex — Coincheck’s parent company to boost mainstream BTC adoption. The company also has other programs that allow customers to swap loyalty points for cryptocurrencies such as bitcoin.

In theory this is really good for adoption.

In practice - who knows, it depends on ordinary Japanese taking up the offer to actually use their bitcoin for something. Hopefully the 3% discount will encourage them, though some may decide they'll make more by just hoarding their bitcoin.

Encouraging step from Japan for a wider adoption of Bitcoin but is this even practically feasible? I mean considering 3% discount isn't enough solely for the reason because transaction fees is much more than that. If you consider a normal gas bill fees could go way up to around 6-7%. However it is an interesting step which comes from the hometown of Bitcoin. Also it would be interesting to see reaction of the authorities on such a thing.

alyssa85

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See

https://bitcoinist.com/coincheck-rolls-out-bitcoin-btc-payment-for-gas/

Quote

The Japanese crypto trading giant announced the move in a press statement issued on Friday (October 4, 2019). The program is a result of a partnership between Coincheck and a couple of gas companies in Tokyo.

Dubbed “Coincheck Gas,” users of the platform can pay their domestic gas bills in bitcoin. According to the press release, BTC payments for gas under the program will attract a 3% discount.

Also, the company says it will gift users 3% of their monthly gas bills in bitcoin sent to their Coincheck wallets. Coincheck Gas is a follow-up to “Coincheck Electricity” which the company rolled out back in 2016.

These services are part of efforts by Monex — Coincheck’s parent company to boost mainstream BTC adoption. The company also has other programs that allow customers to swap loyalty points for cryptocurrencies such as bitcoin.

In theory this is really good for adoption.

In practice - who knows, it depends on ordinary Japanese taking up the offer to actually use their bitcoin for something. Hopefully the 3% discount will encourage them, though some may decide they'll make more by just hoarding their bitcoin.

Topic: Coincheck of Japan Rolls Out Bitcoin (BTC) Payment for Gas - page 2. (Read 206 times)