Uses of Bitcoin


Uses of Bitcoin

Bitcoin continues to spread like wildfire across multiple industries. Lately, the word Bitcoin becomes more and more familiar to the public. From the skyrocketing prices to its applications that overcome the difficulties of fiat currencies, Bitcoin has made a name for itself as one of the most convenient payment channels. Once you’ve learned what is Bitcoin, it’s time to uncover the many uses of Bitcoin.

While cryptocurrencies were haunted by negativity back then, it now displays its edge over traditional payments. Gone are the days of Bitcoin being affiliated to illegal purchases. Today, it transcends borders by offering an all-encompassing medium that can be used in e-commerce, investments, daily payments, and of course, online betting.

For starters, here’s a more detailed overview of the different uses of Bitcoin:

Online Betting

Of course, we highlight the advantages of Bitcoin in online betting due to its anonymity, speed, and lack of restrictions. In fact, Bitcoin is a highly-popular payment option in the online betting circle and is one of the first industries to showcase the cryptocurrency. There are no hindrances that will prohibit you from betting on your favorite NBA or sports teams. Online betting with Bitcoin is simple, fast, and best of all, hassle-free. More than that, creating your own Bitcoin wallet is fast and simple. First-timers can go from zero to Bitcoin user in a matter of minutes.

Investment

If you’ve grown tired of betting with bitcoins or if you start to accumulate so much winnings that you don’t know what to do with your digital coins anymore, you can turn it into an investment. Mind you, while most people look at Bitcoin’s volatility as a downside, you can use it to your advantage and buy bitcoins when the prices start dropping. And since Bitcoin’s price can skyrocket in a matter of days, or even hours, you can start selling your bitcoins for a profit.

E-commerce

Since the uses Bitcoin is starting to become widely-accepted, you can find various merchants tapping into cryptocurrency payments. Names like Newegg, Shopify, and Microsoft cater to Bitcoin users. On the other hand, you can utilize third-party payment processors to quickly convert your crypto coins to fiat if your chosen merchant does not welcome direct Bitcoin payments. In all, Bitcoin is popular enough today that it’s easy to find ways to pay with it.