Some consider cryptocurrency to be the future of money, while others think that the various forms of digital cash are simply part of a trend that’ll die out in a couple of years. Whatever you might think, there’s no doubt that they’ve been growing in popularity – and that they’re starting to gain more recognition for a whole host of uses.
With more companies and financial institutions recognizing the potential of cryptos, a variety of digital coins have become more in demand, meaning that almost anyone can take advantage of their benefits. Here are just a few of the ways that you could use Bitcoin, Ethereum and many other cryptocurrencies online.
1. Buying, selling and trading cryptocurrencies
Of course, one of the most well-known uses for these digital coins has more to do with their potential for investment than anything else. Countless people have now entered the trading world with a variety of cryptos and are seeing significant success.
It doesn’t have to be too complicated to learn how to trade; you simply find out when prices are low, purchase some coins and wait until their value increases (there will be other forms of trading that will be slightly more complicated, but these will likely still function on the same premise).
Tips for anyone starting out in crypto investments
If you’re interested in the profit you could gain, but haven’t had much experience in the field, it might be a wise idea to learn from the experts. Here are just a few of our top tips for any beginners hoping to make the most of their trades:
While this isn’t an option for people across the globe, it’s something that you shouldn’t have much of an issue with within most parts of the UK.
- Make sure that you choose a safe and secure wallet to store your coins
- Learn more about different trading strategies and which ones will be best for you
- Don’t go too high at first; start small and get a feel for how it all works
- Do your research on the market and carefully consider your options before doing anything
- Always be wary of scammers and thieves
2. Can cryptocurrencies be used for betting online?
If you’re looking for an alternative to cash and credit cards for your online betting needs, it might be worth considering the fact that cryptos can be an excellent choice. For one, they can be much more secure, since they don’t require any personal details or documents for verification or transactions.
To sweeten the deal, they can also be much faster and are non-refundable, so all you’ll need to do is deposit funds and place wagers as you please. Many betting platforms also have bonuses for new players like 888sport promo code offer deals. The fact that there are several online bookies in the UK that accept Bitcoin as payment (and a growing number of other digital coin brands, too) only helps to make it an even more appealing option.
What about crypto casinos?
Since they’re in a similar vein, it’s worth mentioning that there are also quite a few crypto casinos out there, too. There are plenty of licensed and trustworthy ones to choose from, so if you’re considering using your stash to play some fun games, it could be worth checking out these dedicated sites.
3. Spending your digital coins on ordinary things
Cryptos are a form of virtual currency, which means that they can be used for a variety of ordinary expenses – just like the money you use every day. There are a variety of websites that accept Bitcoin and even other popular forms as payment. In fact, the first-ever commercial transaction was in 2010, when a resident of Florida spent 10,000 Bitcoin at Papa John’s takeaway for just 2 pizzas.
The value has certainly shifted since then (one BTC was worth just under 0.00060 GBP at the time), but the reality is that there have been companies willing to accept Bitcoin instead of traditional cash almost from the beginning.
With much more commerciality now, you’ll find that there’s simply so much more than you can purchase; from services to groceries. All you need to do is take a look online and you’ll find endless possibilities.
4. Pay off your bills with cryptos
Just like the option to purchase items and services online, you could also just as easily pay off your regular bills with cryptocurrencies, too. Even if you can’t use them directly, there are platforms out there that will let you pay your bills with digital coins, often in exchange for a small commission. In this regard, your mortgage, phone bills and much more could be paid with Bitcoin just as easily as fiat currencies.
5. Use cryptos to invest in other ways
Bitcoin and other forms of cryptocurrency are an incredible investment opportunity on their own, but as a form of currency, they can also be used to make investments in other ways. For example, there are several trustworthy platforms out there that could allow you to use cryptos to purchase precious metals.
If you’re one of the many individuals who are uncertain about the volatility of these currencies, it could be well worth using them to purchase something that feels more stable while the value is high.
What can we learn from all this?
There’s no denying that the more popular digital coins are getting ever closer to being part of the mainstream financial world. Bitcoin has an estimated 46 million owners in the US alone, which only further proves the potential of cryptocurrencies and how far they could potentially reach as time goes on.
While other forms of crypto may need to push a little further to get to the level of popularity that Bitcoin has established, there’s a good chance that it won’t be long before some of them come to a more conventional status, too.
It’s certainly going to be a good idea to at least consider cryptos moving forward, whether you choose to use them for investing, shopping, betting, donating to charity, or anything else in between.
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