Bitcoin has been in and out of the news for years now and yet, even with this long history, is still an exciting and innovative way of rethinking how people spend and use their money. However, with innovation can often come confusion or misunderstanding and you, like many people, may still be unclear about what bitcoin is and how it can be used. In this little guide, you will learn about three ways how bitcoin can be used, alongside learning exactly what it is and how it differs from traditional money and credit. By the time you have finished reading, you will have enough knowledge and insight into how bitcoin can be used that you will be on your way to starting an exciting journey into cryptocurrency.
Let’s be clear.
The most obvious first step is knowing exactly what bitcoin is before you start learning the nitty-gritty. Bitcoin is a cryptocurrency that exists entirely online and is a peer-to-peer system, which means that third parties, such as the government or a bank, cannot interfere in its anonymous transactions, making bitcoin more financially freeing that regular money for those who use it. Now, you have a basic idea of what bitcoin is and, if there is anything more specific you need to know, there is loads of information you can find online.
Buy, buy, buy
Now you have some bitcoins, what can you do with them? Well, it may surprise you as to how many things you can buy with bitcoin because it is nearly anything! You can purchase everything from airplane tickets to new, snazzy laptops, right down to a tasty takeaway pizza with your newly bought bitcoins. With this emerging currency, the sky truly is the limit, so what’s stopping you?
‘Bet’ you didn’t know
One thing you might not know about bitcoins is that you can use them to play all your favorite online gambling games, placing bets and having a go at poker. By using reputable sites such as games.bitcoin.com, you can be reassured that your money is being handled responsibly by a fair website that is clued up on bitcoin usage. Using a site such as this yet another way you can spend your bitcoins and has the added bonus of being fun, and maybe even making some money from your winnings!
Building your business
Bitcoin can also help you build your business as it is a fast-growing currency that people are using at an increasing rate, so getting in there early is a savvy business move for you and your blossoming business enterprise. Among the reasons to accept bitcoin is that there is the advantage of media coverage, for example. As one of the first generations of businesses to accept this ground-breaking new currency, the media will be interested to hear about you and provide free and positive press coverage that will help raise the profile or your business. Alongside this, there is also the bonus of lower transaction fees, that will be helpful to both you and your customers.
There is so much you can do with bitcoins, so why not start investing today for a brighter future?