Many people think that the only thing you can do with Bitcoin is investing, by purchasing some and then selling them on later at a profit. However, Bitcoin is having much more of an effect on our financial world, and there are many different uses for the cryptocurrency and the blockchain technology behind it.
Shopping Online With Bitcoin
As cryptocurrencies become more accepted, so larger online retailers are accepting Bitcoin as a method of payment. At Overstock, you can pay with Bitcoin for laptops, TV’s, bedding, and anything else you can buy from them. Expedia, one of the worlds largest online booking agencies, PizzaForCoins, Reeds Jewelers, and even Microsoft are among the many that will now accept Bitcoin for online payments.
If the site you want to purchase from does not accept Bitcoin, check to see if they accept eGifter gift cards. If they do, like Amazon, for example, you can buy a gift card with Bitcoin from eGifter and then use it to pay the retailer concerned.
Playing Online With Bitcoin
There are now several online casinos that will accept Bitcoin for deposits, and some players prefer these because the blockchain technology allows completely anonymous game play if required. You have to make sure you are playing the right games to remain completely anonymous (and not take the sign up bonus) but then it is up to you if you would prefer to remain unknown. A good example is Playamo, which has more than 1,000 casino games available to play in Bitcoin.
Also, when it comes to collecting your winnings, you usually have the choice of being paid in Bitcoin or cash.
Paying In Store With Bitcoin
If a café, store, or anywhere else you need to pay displays a sign saying they accept Bitcoin, it’s very easy to make your payment. All you need is an app on your smartphone, which the trader scans; the transaction is instant. There is no waiting for the payment to leave your wallet or for the trader to receive it in their account. Even better for the trader is the fact there is no middleman taking their cut in fees, which is just one of the reasons more high street stores are accepting Bitcoin as payment.
The Ups And Downs Of Bitcoin
The value of all currencies can fluctuate on an hourly basis and Bitcoin is no different. It hit the headlines at the end of 2017 because its value had risen to more than double what the experts had predicted but then it dropped and leveled out to a more realistic value. At its current market value of almost $9000 dollars (25 April 2018), it represents a good investment for anyone who purchased them some time ago and will continue to be so for the foreseeable future as more businesses use Bitcoin to replace cash. The more useable this digital currency becomes, the more valuable it will be; not just for investors but for all online and physical stores that accept it as payment from their customers.