Pay your electricity bill with Bitcoin and save up to 6%

Yesterday, Japanese Bitcoin service company Coincheck launched the "Coincheck Denki" service, allowing local Japanese users to use Bitcoin to pay electricity bills.

In addition, users who use Bitcoin can enjoy discounts of up to 6%. Coincheck said that even "lightweight" users can save money, and users can also convert the saved money into Bitcoin and store it in the Coincheck wallet.

Previously, Coincheck’s parent company ResuPress partnered with Mitsuwa Industry Co., Ltd. to facilitate bitcoin payments. Coincheck will also partner with Mitsuwa’s subsidiary E-net Systems Co., Ltd.

“Important milestone for Bitcoin”

Coincheck's head of business development, Kaga Kawabata, said that starting in November, the company's customers will be able to pay their electricity bills using bitcoin.

It is reported that this service is the first of its kind in Japan, where Bitcoin is still a novelty in daily consumption. In Tokyo and Osaka, there are only a handful of businesses that accept Bitcoin, and most Japanese people like to use it as a tool for speculation.

Using Bitcoin as a means of payment for everyday purposes (such as public utilities) is precisely one of its ultimate goals.

Currently, consumers can pay bills with bitcoin, but typically through third-party processors such as Living Room of Satoshi.

Who can pay utility bills with Bitcoin?

Coincheck Denki (Electricity) E-Grid System has partnered with Marubeni Electricity Retail Division, which operates 17 power stations in eastern Japan.

Coincheck said that in the future, the company's service areas will expand. Although it initially only involves electricity bill payments, in the future Coincheck Denki will also expand its service types to gas, water, and even mobile phone bills.

About these companies

ResuPress, which operates both the Coincheck bitcoin exchange and the Coincheck merchant payment service, said its exchange business has processed more than 100 million yen ($991,000) in monthly transactions.

Tokyo-based Mitsuwa Industry Co., Ltd. is an LPG supplier that has been in operation for 76 years and has more than 200,000 customers.