Bitcoin is seen as the future of currencies. It is the most valuable cryptocurrency whose current value is around 60,000 US dollars. Bitcoin is seen as a digital gold today. If you are wondering what practical usage of Bitcoin is in today’s world and how it can help you in your daily life, then you are in the right place. Here I would explain to you about the different ways in which you can use Bitcoin.
Use it as an investment for future
In the year of 2010, Bitcoin value was negligible. In 2017, the value of Bitcoin was around 13000 US Dollars. In 2020, its value rose to 56,000 US Dollars, and presently it is around 62,000 US Dollars.
From these numbers, it is evident that Bitcoin has seen an increase in value dramatically. This trend might be continued in the future years as well. In February 2021, Forbes listed 11 people as Bitcoin Billionaires, they are the people who have invested in Bitcoin years back, and Bitcoin has been a game changer for their life. With the effect of pandemic, we are entering into the era where everything is going digital. Cryptocurrencies (Digital currencies) are most probably going to take over the conventional currencies due to their simplified usage. So, Bitcoin is yet to see a rise in value. If you invest in Bitcoin right now, it might be the turning point of your life also.
Spend Bitcoin for daily needs
Just like you buy commodities from both offline and online shops using electronic payment, you can use Bitcoin to buy them.
Bitcoin has been declared as a legal mode of payment in many European countries like the UK, Germany, and others. In recent times, more and more local shops have started accepting Bitcoin to buy their goods. On 24 March 2021, Elon musk shared a tweet saying “You can now buy a Tesla with Bitcoin.” Meaning, now anyone can buy Tesla Electric cars with Bitcoin. In addition to these, there are multiple online stores that accept Bitcoin as payment to buy goods.
Some of the e-commerce websites allow you to buy gift cards with Bitcoin. Several international flight agencies also accept Bitcoin as payment; Bitcoin also helps you to travel around the world. Bitcoin has additional benefit i.e., its value is the same all around the world. You don’t need to convert from one form to another like you do for paper currency.
Donate to charity
If you already own some Bitcoins and you want to make the best use of them, you could use them for doing some charity. One of the best ways to spend your Bitcoins is to give them to a charitable institution or for needy people who would get great help through your donation. There are several online platforms and institutions which accept Bitcoins donations. So, make your donation and support them.
These are some of the best ways in which you can use Bitcoin. If you are someone who is still hesitating to invest in Bitcoin with the opinion that you could make use of it, then dear reader, you need to change your opinion. In the last decade, Bitcoin has seen many ups and downs. Slowly, it is getting stable and in this decade it might create revolutionary change in the world of finance. Understand its importance, and get adapted to this change as soon as possible. Of course, there is risk involved in Bitcoin investments as well. In order to deal with it, you need to keep yourself updated with the Bitcoin latest updates. Kafila.org can help to get up-to-date news of Bitcoin. Sign up to their newsletter and get accurate information about Bitcoin.