November 20, 2020 3 Uses of Bitcoin in 2020

There are a growing number of opportunities to use BTC in real-life. So, if you ever wondered what you could do with your BTC, keep reading.

A rising number of people are getting more interested in cryptocurrencies. Bitcoin is the first cryptocurrency that became huge and had a great impact on the global monetary system. But, as people get interested in BTC, there is a growing number of opportunities to use BTC in real-life. So, if you ever wondered what you could do with your BTC, keep reading.

The Purpose of Bitcoin

As we know, bitcoin is the first digital cryptocurrency that operates on a decentralized, peer-to-peer network, powered by its users. The peer-to-peer payment network ( also known as blockchain) is the first of its kind, and as the name suggests, it operates without any central authority.

The main purpose of the network is to enable fast, safe, and efficient transfer of digital money on the internet. The main characteristic of the blockchain network is that it functions with transparent rules; in fact, the information is transparent on the network, while the transactions remain anonymous and secure.

Overall, the inception of bitcoin and, later on, other cryptocurrencies provided more alternatives to the fiat currencies and payments system that isn’t controlled by a central authority. Moreover, a lot of businesses across different sectors are looking to apply blockchain technology to increase the transparency of the processes, prevent fraud, and much more.

Digital Goods and Services

You can purchase digital goods and services, including online memberships, video games, e-learning courses, online news subscriptions, book flights, web hosting, and more. The list of businesses includes Treehouse, OK Cupid, Bloomberg, Microsoft, CheapAir, Namecheap, Twitch, and many others. What’s more, you can buy gift cards on Steam, Xbox, and purchase video games on Steam. Otherwise, you can also buy gift cards from major companies like Amazon and iTunes.

In addition, you can donate your BTC and support a wide range of charity organizations. In fact, WikiLeaks was one of the first non-profit organizations that accepted donations in BTC. Today there’s a great range of not-for-profit organizations to choose from, including Watsi, Autism Speaks, Wikipedia, Run 2 Rescue, UNICEF, among many others.

Online Trading

Luckily today, it’s much easier to invest in BTC because there are a great number of trustworthy online trading platforms. Not only can you get BTC in a couple of clicks, but you can also trade BTC for other cryptocurrencies and traditional currencies. But, keep in mind that what kind of options are available to you might vary from site to site.

A great site is the Bitcoin Era, where users unlock many great opportunities for great profits to the advanced Bitcoin Era software. Because this is an AI-based trading system means that you don’t need to have in-depth knowledge about bitcoin because you will participate in auto trading.

This also means that it isn’t as time-consuming as manual trading. When it comes to the safety of the site, it’s worth mentioning that it uses top-notch security measures and encryption technology. Hence, your personal data is safe. In order to register on the site, you need to deposit at little as $250.

Good and Services

Of course, you can buy goods and services offline. As a matter of fact, in 2020, there are over 15,000 businesses that accept payments in BTC, and we think that number will continue to grow in the future. Some of the brands that support BTC include Reed Jewelers, APMEX, Etsy, KFC, Subway, to name a few.

That being said, you can purchase cars, real estate, jewelry, watches, fast food, gold, and more. However, you should be aware that there are differences in terms of what products and services you can purchase based on your area.

A good example is the Great Lost Bear, a bar in Portland that accepts payments in BTC. In Germany, the prominent online food delivery platform Lieferando.de also accepts BTC payments, which means you can order from over 11,000 restaurants.

On the other hand, this means that if you’re looking to start an eCommerce business or a brick-mortar store, for example, you can also accept payments in BTC and other cryptocurrencies. In order to this, you will need a Bitcoin wallet. So, it’s safe to say that there are plenty of options.

Summary

In conlcussion, the number of companies and nonprofit organizations that accept payments in BTC goes up every year. But, still, there’s a lot of room for improvement to make Bitcoin more accessible in even more businesses and countries all around the world. A good example is Japan, where you can buy almost everything with BTC.

Hence, it’s also up to the governments to create better environments for businesses and organizations to accept payments in BTC in their countries. All in all, the world of cryptocurrencies keeps growing, providing many options for its users.

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