Living Room of Satoshi is an Australian cryptocurrency website where you can pay your bills with Cryptocurrency instead of FIAT currency.
So, my RAC bill is about $482.58 and I typed that into LROS. It requires 1.4148 Ethereum.
Mind you, a few days ago I bought Ethereum on Tuesday (19/9) hoping the value would go up. I bought Ethereum at Coinspot. Bought $500 worth of Ethereum which was about 1.26611127 ETH.
So, my Ethereum is worth at Coinspot, just under $500.
LROS requires 1.4148 ETH ??? I wondered how LROS make their money. On their website, it stated they make their money through currency spread.
Snapshot of the API rates:
LROS offer other cryptocurrencies to pay other than Ethereum.
1.4148 ETH worth $540??? My bill is $482.58. The currency spread is too much.
Conclusion: In the end, I couldn't pay in Ethereum. The value wasn't there yet and was a bit short. The only way to pay is if your cryptocurrency value has increased a fair bit where you bought Ethereum at a cheaper rate. Will need to wait for my Ethereum value to increase, not less than a week due to volatile in the cryptocurrency market. Will revisit and try again with this service once my Ethereum matures. Now, gotta pay my bill in FIAT currency.