Bitcoin

Where Can I Use Bitcoin?

Bitcoin

So what is bitcoin? Originally, bitcoin was designed to be an alternative, decentralized payment system. It was low-cost, unlike international bank transfers at the time, and almost immediate. An added advantage for users was its irreversibility, which cleared the peril of costly charge-backs.

However, the rapid change in domestic payment methods and the active development of alternative modes of international transfers have decreased bitcoin’s advantage in this sector, particularly given its growing fees and regular chain of processes.

Moreover, the increased oversight and regulation to prevent money laundering and illegal transactions have restricted the cryptocurrency’s leverage for secrecy purposes.

In some countries, however, bitcoin is still a more economical and cheaper way to convey funds over the borders, and many payment startups take advantage of this particular feature. Bitcoin’s cost and speed advantages, though, are being eroded as traditional channels improve and liquidity continues to pose a severe threat in different parts of the world.

Some small and large retailers recognize the cryptocurrency as a method of payment, although the demand for this role is not huge.

And many people believe holding a part of their wealth in securely-stored bitcoin, where a central authority cannot block access or take a cut is much more comfortable.

Many bitcoin users, especially the newbies often find themselves in quite some dilemmas where they ask themselves; Where can I use bitcoin in 2018? Can I use bitcoin on Amazon or other online stores?

If you are one of them, the good news is that you can spend your bitcoin in a wide assortment of places – online or offline.

Here is a simple highlight on the diversity of options available for you:

Tipping And Charity

Perhaps the most comfortable, most satisfying way to use your bitcoins is by paying it ahead. You can use the digital currency to tip article and blog post authors just by clicking a button or donate to any worthy causes. Also, you can purchase Reddit Gold with Bitcoin, and transfer it out as gratitude for the user who posts your favorite cat pictures!

Common Household Items

In many online sales platforms, there are numerous products all available in bitcoin, and you can conveniently exchange your crypto for any of them.

Gift Cards

While we are still expecting the big-wigs in e-commerce such as BestBuy and Amazon to accept bitcoin, some intelligent folks have devised a way out. Use bitcoin to obtain gift vouchers from the likes of eGifter, or Gyft and then head Amazon, BestBuy, and hundreds of other favorite retailers to redeem it.

Video Games

IT big-guys such as Green Man Gaming and Microsoft have lately started accepting bitcoins for some of their games and apps. Others like this Minecraft server power their in-game currency using Bitcoin!

Food

Many restaurants around the world accept Bitcoin as a means of payment for their services. You can also go to some cafes, including this one in Prague that only accepts bitcoin!

 

Garry Ralph

Garry Ralph

Garry is cryptocurrency specialist and has been writing on relevant topic since cryptocurrencies started to grow in popularity in 2011. Garry is well-versed in all aspects of cryptocurrency investing and has successfully guided many newcomers to ultimate success in the field.

YOU MAY ALSO LIKE