People often ask, where and how can I use a bitcoin? And of course, this is a normal and common question. And no, it is not a stupid thing to ask. Let’s review it quickly.
First of all, Bitcoin can be used as a method to store your savings. Like gold. People often invest in gold to protect their cash and it is totally normal. On the other hand, due to high volatility, investors say that Bitcoin is not the smartest place to invest money. But it is totally up to you. Every investment is risky in some way. Bitcoin is no exception. Also, users can use it to buy Gold and Silver, or trade stocks. We put this together since it is probably pretty similar to savings.
Second, but not a very popular way to use Bitcoin – paying for services or goods. Sadly, there are still not many places where you can use Bitcoin for payment. Of course, there are e-shops, coffee shops, restaurant and many other places which gladly take a fraction of the customers’ cryptocurrency, but you will need to look for them. You will not find so many stickers on the windows like Visa or Mastercard. However, slowly, but steadily the number grows. Important to mention, some other cryptocurrencies are also a popular way to accept the payment. Since Bitcoin may be pretty slow sometimes, currencies like IOTA or Litecoin can be used as well.
One more way to use your coin, take cash at ATM. The network of them expands pretty fast and you will probably find at least one ATM in your area. Well, we hope so. Of course, the exchange rate may be really bad there so double-check the rate online before exchanging your cryptos. There are more than 5,000 Bitcoin ATMs worldwide.
Furthermore, cryptocurrency can be used for gambling. The same way as you use your credit card or any other online payment method. Still, not every online casino accept Bitcoin, but the list always grows. You can check the casinos such as Golden Star or BAO which take more than one cryptocurrency. Also, within the last few years sports betting with Bitcoin gained a lot of attention. Why? It helps to save a lot of fees, give better odds, and guarantee faster and smoother deposits and withdrawals. However, keep in mind that online gambling is not allowed everywhere. You should follow the laws of a country.
Lastly, but probably most important – Bitcoin can be used for donating. Almost every organisation now will happily accept cryptocurrency, no matter is it Bitcoin or else, they wait for some additional help outside.
We hope this short article will help you to better understand the possible usage of Bitcoin. Surely, this is not everything and there are more ways where and how to use this amazing cryptocurrency.
By the way, if you don’t have even a small fraction of Bitcoin, you can always buy some at one of the trusted exchanges. Crypto will not go anywhere away soon, so do not miss a chance.