Invented by someone or some group under the alias Satoshi Nakamoto back in 2008, bitcoin has experienced tremendous success, with its value soaring in unprecedented levels in 2017.
In September, the bitcoin’s value nearly reached $5,000. Just like money, the cryptocurrency we call bitcoin can be used in many different ways. Here are some of the ways you can use this digital currency:
Bitcoin as Long Term Investment
Bitcoin has a limited supply, with only 21 million coins to be circulated. It is estimated that this limit will be reached by 2140. It is ideal to acquire this cryptocurrency as a long term investment, as it is only in its very early stages of development. Despite its recent milestone, there is so much more potential for this digital currency, and this is something we should definitely watch out for.
Purchase and Pay Online Using Bitcoins
Bitcoin is a very convenient form of payment, which is why more and more merchants are now accepting this currency. Used for online payment, big companies are now accepting bitcoin, such as online travel booking agency Expedia, online newspaper Bloomberg, home appliances store Home Depot, and online store Shopify. So, whatever your online transactions are, there is a good chance that the online vendor accepts bitcoin as payment.
Donate to Charities and Advocacies
Being able to give back to society is one of the things that a lot of us hold important. Fortunately, donations to charities and advocacies can now be made using this cryptocurrency. Charitable institutions like Red Cross and Greenpeace are now accepting donations in the form of bitcoin. And did you know? Some donations to charities can even help in lowering your annual taxes, even if your donation was made using bitcoin.
Make Deposits and Withdrawals from Online Casinos
Instead of paying with your credit card when playing on online casinos, you can now switch to making payments using bitcoin. A lot of online casino sites now accept bitcoin deposits and withdrawals, and even offer bonuses and higher prizes when you opt to pay using this digital currency. Compared to credit cards, bitcoin payments are much faster and more secure. One such online casino site is Bitcasino.io, offering more than 1,300 games that you can play using bitcoins. Go to their site and have a look at their welcome packages which can go up to m฿ 2,000.
Bitcoin as an Education Tool
Aside from its monetary and investment value, bitcoin can also be seen as a means to educate people about the potential of the blockchain technology. With this unconventional currency that surpassed the traditional methods of payment, one can imagine how much more we can achieve once we have mastered the concept behind this cryptocurrency. Knowledge is power, and bitcoin’s breakthrough is something that can motivate and inspire individuals to reinvent this world using this new technology.
Bitcoin has shown us some pretty impressive growth since it was invented in 2008. The financial world will never be the same now that this digital currency has emerged.