Australian fintech company Living Room Of Satoshi released a service allowing its users to automatically set aside a portion of their salary as Bitcoin savings.
In order to use the service, the customer must switch the bank account where their salary is received to the one provided by Living Room Of Satoshi. The company will then automatically deduct the indicated amount from the user’s wage, converting it to Bitcoin and placing it in their wallet. The remainder will be sent to the bank account indicated by the user.
Set Up Savings in BTC
Living Room Of Satoshi is not a new player in this space. The company has been involved in cryptos since 2014. Their focus seems to be on allowing anyone to pay their bills, expenses and credits directly with cryptocurrencies, without having to convert them to cash first.
According to Daniel Alexiuc – chief executive of Living Room Of Satoshi – the company was founded when he spotted the opportunity to build a service addressing those who would like to hold cryptocurrencies, but don’t want to spend time managing a balance in cryptos. Instead, the process works more like a “route to savings account” option, similar to what is often offered by many banks.
Bitcoin has seen its price rise astronomically in the last 6 months, which has triggered an unprecedented buy-in from institutional investors. We wanted to provide an option for regular folks in Australia to also join this burgeoning ecosystem — and the simplest and most pain-free way is to have a small percentage of your wage converted and sent to you when you get paid.
Daniel Alexiuc, CEO of Living Room Of Satoshi
The name of the company came from the idea that at the end of the day, Satoshi Nakamoto might be sitting down in his living room paying his bills using the vast amounts he mined shortly after inventing Bitcoin.
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