Bitcoin is a form of digital currency. Arguably, most people think that bitcoins are only used for speculation, investments or to make payments.
For those who have acquired bitcoin for the first time, the question that goes through their minds is, “what else can you do with bitcoin?”
With digitalization, the world is slowly moving from face to face meetings to video conferencing, cable TV to IP TV, Phone to VoIP calls, and most importantly, physical currency (coins and notes) to digital currency.
Essentially, this form of payment allows you to make secure and anonymous transactions. And there are other things you can do with bitcoin.
As surprising as it may seem, holding bitcoins for investment purposes extends to lending them out, perhaps expecting to earn a profit.
There are many P2P Bitcoin lending firms and besides the benefits garnered from the generated interest rates, the rising rates of selling them also serve as a major attracting point.
Although the niche is relatively new, you can still earn a few if you make it a profession.
“Put your money where your mouth is” is a term that is famously used by bitcoin-engagement platforms. Unlike with conventional trading, their usage here is quite risky because of the multiple caveats and the uncertainties associated with the money market.
Purchase and Payment of Goods and Services
You may have guessed this one, but who won’t accept bitcoin as a form of payment of commodities?
From the small firms, travel companies, eateries, dating agencies, P2P platforms, and other brands to the big names including PayPal, the number is increasing every single day.
A Bitcoin gift card is among the list of features that attract and spur acceptance amongst the great shopping populace followed by the subsequent discounts associated with the same form of shopping.
There are also physical stores that accept the digital currency bitcoin.
Poker, Gambling And the Many Other Payments on the Dark Web
From gambling to paying for goods offered on the dark web, bitcoin usage is commonplace.
Since most of these platforms are associated with shady business, you need no reason to question why bitcoins and not cash!
The bottom line
The bitcoin system is being quickly adopted in many sectors across the world. According to digital freedom enthusiasts and security experts, this system is one of the best forms of payments that opens gates to possibilities.
Its anonymity feature has gained it praise over time. Moreover, its many uses give you a reason to shift from coins and notes to this secure system.