27 May 2020
“Bitcoin is a technological tour de force.” – Bill Gates, Microsoft Co-founder.Bitcoin-based on blockchain technology platform was the foremost and a topmost cryptocurrency introduced in January 2009 and until July 2010 its value was still $0.08 for a single coin to be $7336.98 at present in December 2019. Bitcoin had its downfalls and peaks to the highest form anyone could think of, it possibly had its very own rollercoaster ride.
Cryptocurrency hasn’t yet received the acceptance as it should have and falls pretty much back if compared to other currencies because of the exposure that wasn’t showcased. Many people believe that Bitcoin can be utilized with limitations and only for certain aspects, however, with time and the boom that the Cryptocurrency made, it is changing the play-field for Bitcoin.
Bitcoin can be spent for and on various purposes such as:
Using Bitcoin by turning them into gift cards: Let’s take for instance that you want to buy this XYZ product but do not have sufficient money except for bitcoin, how possibly nice it would be if you could utilize your bitcoin which in real-world is pretty much not happening however you could convert your bitcoin into gift cards. Companies like eGifter, Gyft and Nafa enable you to buy a gift card through bitcoin and make that purchase.
Online purchasing through bitcoin: Many retailers are now adapting to the world of cryptocurrency and are availing methods to accept bitcoin and other cryptocurrencies. Companies such as Microsoft, Newegg, OpenBazaar and many other companies are a part of this system.
Using bitcoin through debit card: Isn’t it just a nice thought to use bitcoin through debit card just like how we make transactions with fiat. You could transact from anywhere in the world and also manage your account from apps such as BitPay mobile app, Wirex, Cash App, Shift Card are certain apps that provide similar facilities.
Online Gaming: Bitcoin can now be utilized for playing games online as well. Bitcoin is beneficial with terms of operations, expenditure, time, fiat and so forth. One can spend bitcoin to play or even earn bitcoin in few of the gaming zones. Games such as Keys4Coins, Zynga, BitCasino and so forth are a part of online gaming that accepts bitcoin.
Bitcoin with precious metal: Bitcoin can be utilized to invest or trade in various precious metals. The platform that provides bitcoin to precious metals are Goldmoney, Vaultoro, and so forth.
One can pay bill through Bitcoin however it thus depends on the location you are at. Bills such as utility bill, mortgage bills, phone bill can be paid through bitcoin. Companies such as Bitrefill, Bitkoyn and BitMoby provide such services.
Supporting charities with Bitcoin: Putting money in any kind for a good cause brings humanity a little closer and nothing feels right than putting it for a need. Charities such as The Water Project, BitGive Foundation, Wikimedia and so forth accept bitcoin.
Investment: One can also invest in Cryptocurrencies and in itself through bitcoin and gain good returns. Investment in Crypto through bitcoin being volatile has a very beneficial prospect. Also being decentralized, limited, transparent gives the stream a hit.
Companies that accept Bitcoin: Various companies that accept Bitcoin are- Microsoft, Overstock, Namecheap, Newegg and so forth.
Various other outlets that accepts Bitcoins for food, shopping, travel, hotels and so forth are Purse.io, Sportsbet, TravelbyBit, Destinia, CheapAir, ArrowHead Beef., Eyeboot, BitShopping and many more!
As Mohith Agadi said, “I like the concept of ‘not spending more money to spend money’. Let’s scale it.”