Satoshi Nakamoto will always retain the reputation as the developer of the first decentralised cryptocurrency, Bitcoin. As it has been written on Bitcoin’s white paper, people can make online payments from one end to the other without involving banking institutions that have over many years served as the intermediary of every transaction.

In addition, Bitcoin is valuable as a tool of investment and value, as we have it in precious metals like Gold and Silver, but Bitcoin can also serve as a means of exchange for goods and services. Similarly, other cryptocurrencies like Tether (USDT), Dogecoin (DOGE), and Litecoin (LTC) can be used to pay bills online.

This article highlights the prospects of using cryptocurrency to pay bills and how to use Bitcoin to make daily purchases.

How To Make Payment With Cryptocurrency

Using cryptocurrency to pay for bills

The acquisition of Bitcoin is the first step to using cryptocurrency to pay bills. Some crypto exchanges enable users to convert fiat currency into cryptocurrency (or vice versa) while keeping the private keys safe. But self-custody might be the best option if you don’t trust the security of your private keys with third parties.

Furthermore, you have to sign up for your preferred wallet to pay bills directly from your wallet. Wallet options range from hardware to software and paper to web wallets; hence you can choose the option that best suits you in paying bills in cryptocurrency. As stated above, crypto exchanges also provide wallets for users to keep their private keys. However, it is important to choose a wallet that is in tandem with the cryptocurrency of your choice.

You must also check your utility provider to ascertain that there is a cryptocurrency payment option for your bills. The growing adoption rate of blockchain technology has encouraged many businesses to start accepting cryptocurrency as a means of payment. For instance, Amazon accepts cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA) as forms of payment on the website.

This massive adoption rate has led some online crypto payment gateways like Bitpay to emerge as payment processors, thereby enabling businesses to open a Bitpay account and start receiving payments in ETH.

What Bills Can I Pay With Cryptocurrency?

Today, users in some climes of the world can use crypto to pay for electricity, internet, mortgage, rental, and phone bills. For instance, users can use debit cards issued by the payment processor to exchange cryptocurrency for fiat currency to pay their mortgages. It might be essential to convert cryptocurrency into fiat because most banks have not approved crypto as means of payment.

Moreover, companies like AT&T use cryptocurrency payment as an alternative to paying mobile bills. Another similar scenario is the growing adoption of cryptocurrency to pay for student loans, gym membership, and credit card bills directly from their crypto wallets or using a crypto debit card.

When you mull the decision to pay your bills with cryptocurrency, it is essential to acquaint yourself with the legality of using crypto in the jurisdiction of your residence. For instance, crypto use as a means of payment is not acceptable in Nigeria following the ban on cryptocurrency by the Central Bank of Nigeria. Therefore, it is impossible to use cryptocurrency to pay bills in Nigeria.

Can You Pay Bills With Bitcoin?

Many businesses have risen to the occasion of adopting Bitcoin as a means of payment for their purchases. Some of them include Microsoft, Shopify, Wikipedia, etc. Today, you can use Bitcoin to buy Xbox gift cards from online Microsoft Stores. With cryptocurrencies like Bitcoin and Ethereum viable to pay bills, there are various types of cryptocurrency-based payments to pay bills with crypto.

Ways To Pay Bills With Cryptocurrency

1. Bitcoin Debit Cards

Bitcoin debit cards function like cards issued by traditional banks to make purchases and pay bills. When you use the crypto debit card at any store, the cryptocurrency being loaded on the debit card is converted into fiat currency for the completion of the purchase, using cryptocurrency.

Also, you can withdraw fiat currency from any ATM that supports the Bitcoin debit card. Users must create an account with a crypto exchange before applying for a crypto debit card. The application process might include undergoing a Know Your Customer (KYC) verification process in compliance with Anti-Money Laundering (AML) regulations. In partnership with primary credit card services like Mastercard and Visa, you can use Bitcoin debit cards online and offline.

2. Direct Bitcoin Payments

It is advisable to navigate through the pages of websites to affirm their Bitcoin payment provision. Some notable companies that accept Bitcoin payments include Virgin Airlines, Microsoft, Save the Child, etc. Meanwhile, paying Bitcoin to businesses that get it eliminates the hassle of currency conversion and hidden charges.

3. Bitcoin-Powered Bill Pay Services

Coinsfer, a bill-pay company in the United States, accept Bitcoin as a mean of payment for subscriptions, products, and bills. This works because users will send a link to their intended purchase product, and Coinsfer will send them the entire order and shipping cost. Once the customer pays with Bitcoin, the bill-pay company confirms their order for shipping.

Advantages Of Using Cryptocurrency To Pay Bills

Blockchain technology has enabled primarily decentralised cryptocurrencies to be free of government influence. Therefore, you can quickly pay your bills with cryptocurrency on a peer-to-peer blockchain network. From the comfort of your home, you can pay bills in crypto; so far, there is an active internet connection.

Low-income people can also receive crypto loans and payments in cryptocurrencies like Bitcoin, Ethereum, or Dogecoin at some marketplaces that support crypto.

Disadvantages Of Paying Bills With Cryptocurrency

Transactions on blockchain networks are not free, and as such, you might want to avoid paying certain charges/fees when you pay bills in cryptocurrency. Also, crypto regulations are relative across borders. Therefore, you may not lose recover your funds again when lost.

Above all, the volatile nature of cryptocurrency might hamper how users pay bills in crypto because users will pay more when the price rises, and they might not have enough crypto when the price tanks. It should also be noted that a completed transaction in cryptocurrency cannot be undone since the record goes to the blockchain. Still, there can be some exceptions on the willingness of the other party to return the fund.


As the adoption of cryptocurrency by countries and businesses increases, we might see a surge in the way people use cryptocurrency to pay bills soon. However, it is essential to do your due diligence on any platform that accepts cryptocurrency to ensure that the service providers truly support crypto as a means of payment.