Frequently Asked Questions

There are no separate fees, the calculated exchange amount you see on the homepage is all inclusive, and is the only amount you need to pay. Living Room of Satoshi makes money from currency spread.

Our exchange rate is published via JSON API at https://www.livingroomofsatoshi.com/api/v1/current_rates, and is also displayed at the point of payment.

Bank transfers are limited to a maximum of $1,000,000 per transaction for high liquidity coins. Total daily limit of $5,000,000.

You can pay any bill that can be paid to an Australian bank account (BSB and account number): rent, invoices, tradies, friends and family, or your own account.

Direct BPAY payments are currently unavailable, but you can still pay BPAY bills in two steps: send funds to your own bank account, then pay the bill through BPAY using your bank.
Living Room of Satoshi is not affiliated with BPAY.

The BPAY network no longer lets services like ours send BPAY payments funded by cryptocurrency. The decision was made by Australian Payments Plus (AP+), the operator of the BPAY scheme.

You can still pay BPAY bills in two steps: send funds to your own bank account through Living Room of Satoshi, then pay the bill through BPAY using your bank.

If this change affects you, you can share your feedback with your bank, write to your local MP, or tell us and we will pass your feedback on.

You can sign up using the login link on the account page.

Yes, you need to be verified to use our service. Identity verification is a legal requirement of all digital exchanges in Australia under the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2017.

The verification process is simple and all done online, it can typically be completed in a minute or two.

We take the protection of your personal data very seriously, and store an absolute minimum of personal data on our servers. We employ expert third party ID verification services to maintain a high level of data security.

You'll see a confirmation usually within a few seconds of making your bitcoin payment. We process the payment after it confirms on the blockchain, on the same business day that the bitcoin transaction is done (though cut-off times must be taken into account - see the next question). We carry the burden of risk on any rate movements.

Payments to Bank Accounts are processed through the NPP (New Payments Platform), and will usually clear within minutes of your transaction being confirmed on the Blockchain.

Transactions which are not able to be processed through the NPP will be processed as a regular Bank transfer and will generally clear in 1-2 business days.

Bank transfers to Osko / Fast Payments enabled accounts arrive within minutes, for most Australian banks.

Transfers to other accounts are processed the same day if we receive your payment before 3pm on a Bank Business Day, and may take up to 2 business days to clear.

We can follow up the case for you - just send the payment details and your payment confirmation number to support@livingroomofsatoshi.com and we can follow up with the relevant financial institutions. We take customer support seriously, and have a comprehensive Internal Dispute Resolution Process.

If your credit card bill accepts BPAY, you can still pay it in two steps: send funds to your own bank account through Living Room of Satoshi, then pay the credit card bill through BPAY using your bank.

You can Buy Bitcoin easily, and directly on your phone through the Wallet of Satoshi app.

In the event that you are unhappy regarding any part of our service, please contact us immediately and tell us about your concerns.

We are committed to customer satisfaction and have a robust Internal Dispute Resolution Process.

Download Living Room of Satoshi's Product Disclosure Statement and Financial Services Guide.

Our company is named in honour of Satoshi Nakamoto, the mysterious and pseudonymous creator of Bitcoin. Nobody really knows for sure who he is, or what he is doing now.

But we like to imagine that when Satoshi has a bill to pay, he kicks back at the end of the day and pays it in his living room. Hence "Living Room of Satoshi"!