Uses of Bitcoin
The questions what is Bitcoin and what can you do with it are popping out more and more wherever you go because of its increasing value and popularity. Let us tell you that even though the uses of Bitcoin has all the advantages in the world compared to fiat currencies, in some way, it still works the same as paper money — you can buy almost anything with it. In fact, the first ever Bitcoin transaction was used to buy two pizzas.
On May 22, 2010, when Bitcoin was worth 0.08 USD, some guy named Hanyecz posted on a forum that he bought two pizzas for 10,000 bitcoins. It was dubbed as the most expensive pizza in the world as Bitcoin’s value increases every year. Today, those two pizzas would be worth 81 million USD.
It might be a funny story for you, but it’s also proof that the uses of Bitcoin are endless. Companies, non-profit organizations, merchants, and even websites are slowly adapting Bitcoin as one of their mode of payments. Many are highly amazed by its speed, security, and low transaction fees.
ONLINE AND OFFLINE
If you know how to store bitcoins properly, then you also know that it’s perfectly safe to use it online and offline.
Online and offline retailers — shopping is a fun activity for all and it’s a good thing more and more major online merchants are astonished by the many uses of Bitcoin. Popular shops like Overstock, Etsy, Shopify, and Microsoft are open to serve you in exchange for bitcoins. It saves you the burden of going to malls. You don’t need to worry about huge taxes, service charge, and transaction fees.
Flights, hotels, and restaurants — you can now book your dream holiday and go to places you’ve never been before using Bitcoin. Reserve a seat on Expedia, AirBaltic, or Webjet or simply visit nearby hotels and travel agencies that accept Bitcoin payments.
Gambling — online sportsbook, racebook, and casinos are three of the most popular uses of Bitcoin. The very nature of the currency is enough to encourage one to enter the world of online gambling and get to grab endless winning opportunities. Through Overwatch betting sites, Bitcoin betting exchange platforms, and other channels that cater to fans of the game and betting, the game gets further recognition across different markets. It’s your chance to bet anonymously on esports like Overwatch, LoL, Dota 2, and CSGO.