Uses of Bitcoin


Uses of Bitcoin

With its rapidly growing popularity, you might already know what is Bitcoin. However, we can’t say the same thing for all people when it comes to the uses of Bitcoin. These are different things to different people, but one thing is for sure: Bitcoin is a versatile currency.

Commonly referred to as the “digital gold for millennials”, Bitcoin dominated 21st century’s online industries and businesses when it was launched in January 2009. It was crafted under the pseudonymous name Satoshi Nakamoto. It easily became the King of peer-to-peer electronic transactions after several years. Bitcoin is now considered as one of the most affordable and convenient modes of payment. Now, if you already know how to store bitcoins and have a Bitcoin wallet of your own, here are the top uses of Bitcoin you can enjoy:

Online Betting – One of the most popular uses of Bitcoin is online betting or gambling. Traditional sports like NFL betting becomes more and more popular because of the betting markets available in sports betting sites. When used online, Bitcoin provides anonymity and low transaction fees. There is no government or banks to stop you from online gambling. Right off the bat, you can take advantage of the perks, bonuses, and promotions Bitcoin and sports betting sites can offer.

Investment – The mere buying of bitcoins and selling of bitcoins can turn into an investment. The first step, of course, is to buy bitcoins when you think the price is right or when financial investors report the current status of exchange rates. There are plenty of reputable exchange and trading sites that offer the most affordable bitcoins in town. Simply browse and make a deal. Months or years later, when Bitcoin is at its peak period, you can then sell your bitcoins for a profit.

Shopping – Lastly, shopping with Bitcoin grants you endless possibilities. You can purchase digital and physical goods and services with it. This is not something your fiat currencies can do unless you use debit or credit cards. Now, hundreds of merchants accept Bitcoin payments. Giant brands Dell, Nike, and Starbucks in some countries welcome digital currencies. Huge names like Microsoft even cater to Bitcoin payments. Other popular goods include digital gift cards, food, hotel and resort services, and plane tickets.