Bitcoin in daily life and other transactions is becoming more accessible than ever before. The ease of use, security, and wider adoption of crypto are the main reasons why. From making small investments to using other cryptocurrencies, here are some reasons to use Bitcoin.
Making Online Purchases
Of course, Bitcoin is most useful for making online purchases. It’s quick, easy and secure. Not all vendors offer the option to pay with BTC, but more and more are adopting it as they look to enhance their user experience and audience. But BTC also expands beyond this, and Jonathan Martin has a great article about how El Salvador now accepts Bitcoin as legal tender. Also, be aware that some vendors don’t accept BTC, but you can buy gift cards using a BitPay account.
For Making Investments
Bitcoin is a wonderful investment and has been steadily growing for the past 10 years. As an investment tool, you can use BTC to make small gains over the long term, as any other. Of course, it does fluctuate wildly, and the heyday of extreme profit might be over. But BTC continues to climb and fluctuate on a daily basis. Like any other investment, though, don’t put all your eggs in one basket, and understand that you are always taking a risk with your money.
Bitcoin in Daily Life Bank Transfers
Bank transfers are done all day, every day. And there are many reasons you would do this. Lending someone money, gifts, and buying stuff are all valid reasons. However, there are fees, some pretty high, for bank transfers between bank accounts and credit cards on Venmo. It also takes a few days and longer on the weekend and holidays. With BTC, the fees are much lower, and money is transferred almost instantly, meaning it is a superior way to transfer legal money.
For Using Other Cryptocurrencies
Much like the world measures their currencies against the US dollar, other crypto are measured against the value of Bitcoin. Therefore, you can use it as a store value for other or new crypto on the exchanges. Additionally, most exchanges only allow access using Bitcoin, so you can use Butcoing as the conversion medium for unknown or untested crypto. This alone is a testament to the power of Bitcoin and how well it is respected by the wider financial community.
Getting Paid in Bitcoin
Paying for stuff with Bitcoin is easily done and is becoming more widespread. But how about receiving it for payment? Whether you are selling your old stuff to make money, providing a service, or operating an online eCommerce venture, Bitcoin is a great way to get paid. It is fast, secure, and low-cost compared to bank or credit card charges. It’s also an excellent way to open up your store to the approximately 417,000 BTC transactions that are done online per day.
Summary
Making online purchases is the most common use for Bitcoin in daily life. Yet it is also a cheaper and faster way to move money between bank accounts, and you can get paid faster as well.
