Uses of Bitcoin

Bitcoin is truly a global phenomena. It has opened the doors for countless of opportunities online that was not possible before or that was too hard to deal with. Because of its transparent and decentralized characteristics, Bitcoin has earned the priority of online traders who want their transactions to be fast and secure. The small amount of fees compared to the Banks and other payment methods as well as its easy to set up nature have also made it the main priority among the users online. On top of everything, many renown and potential companies have also started accepting Bitcoins. The number of ways Bitcoin can be used is countless. Let’s have a look at some of the ways Bitcoin can be used or is being used: 

 

Investment:

At the beginning of 2011, The Price of a Bitcoin was less than a cent but now the value has surpassed 4,000 dollars months ago. It is estimated that, within a few years or so the value of Bitcoin will surpass 10,000 dollars and the value will only grow up. If a person bought 10 Bitcoins worth (0.30×10)=3 dollars, they can sell it today for (4315.31×10)=43,153.1 dollars which means they can keep 43,150.1 dollars profit on their pocket. All they had to was buy a few Bitcoins back on 2011 and moved on with their lives and now they can sell them for a small fortune. Similarly, if you can buy 0.1 Bitcoins today worth (4315.31×0.1)=431.53 dollars, a few year later if the price of the Bitcoin hits 10,000 dollars, you will be able to sell it for (10,000×0.1)=1,000 dollars. There is (1000-431.53)=568.47 dollars profit going in your pockets. Although the profits are not high enough, you can gain even more profits if you intend to sell it later when the price goes up even more. Profits!

 

Buying Stuffs:

You can purchase almost anything online now-a-days using Bitcoin from laptops to shoes. Many online shops have started accepting Bitcoins as an alternative payment method. Online retailers like Overstock, Expedia, eGifter, Newegg, Dell, EZTV, Whole Foods, Dish, Shopify Stores, etc. now accept Bitcoins in exchange of their products. The List of Online Stores that accept Bitcoins is in developmental stage and will be added soon.

Not only that, you can also purchase stuffs from physical shops like CeX, San Jose Earthquakes and more. Everyday more and more shops are starting to accept Bitcoins as payment methods so that they won’t fall behind in the race. To view the shops that accept Bitcoins, you can go to CoinMap and use their maps to find out the exact locations.

 

Gift Cards: 

You can also purchase gift cards with Bitcoins. There are countless of online retailers who will convert your Bitcoins into your desired gift cards, such as, Google Play gift cards, Amazon gift cards, Steam gift cards and more. You can purchase gift cards in exchange from Bitcoins from the websites listed below:

 

(Be warned, this post will be updated every now and then and will include more or exclude existing uses so that this article never gets outdated. Please let us know suggesting additional uses. Thank you.)

 

 

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