Home Articles A Bitcoin Trader? Here Are Common Uses Of Bitcoin Besides Trading

A Bitcoin Trader? Here Are Common Uses Of Bitcoin Besides Trading

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Bitcoin has evolved into more than a mere investment in the past decade. Its in-grown value has exceeded just a near-future investment and has undergone several variations which provided for transaction capabilities.

Many businesses and companies have accepted Bitcoin as a payment method. In offline transactions also, Bitcoin is accepted by certain companies. But, even with progressing time several companies are taking into bitcoin transactions, it is rare. Also, you cannot buy groceries with cryptocurrency, but do not worry; it will be possible one day.

Here are some of the main categories one can use bitcoins for –

Long Term Investments

These days, enthusiastic financial investors don’t fail to take the opportunity to buy bitcoins for long-term investments. Other than being a means of trading, Bitcoin can be used as gold, with big returns. The value of Bitcoins has spurred around 9200 percent, which proves that it is a great investment. Try How to deal with FOMO while trading cryptocurrency with this application is one of the known apps to help you manage such investments.

Buy NFTs Through Online Trading

A non-fungible token or so-called NFT is a unique, non-interchangeable unit that stores data on digital ledger using a blockchain system. NFTs reproduces photos, videos, and audio and other forms of digital files. Moreover, NFTs has public certificates to authenticate the ownership of crypto investors.

All the NFTs transactions occur through cryptocurrency only, and they are a long investment and a big elite digital asset.

Purchase Automobiles 

Big automobile dealers already have started to accept bitcoin or other forms of cryptocurrencies as their preferred mode of payment. The list spun within the range of luxury cars such as Lamborghinis or Subaru. If you have some Bitcoin stored and want a Lambo by you, use the Bitcoins to buy it.

On a Saturday Night Live,  Tesla owner Elon Musk announced that they would accept Doge coins as a payment method for SpaceX. He accepted Dogecoin and entered the list of carmakers to accept bitcoins.

Use In Online Retailers Or Stores

There are many online stores that let you buy their assets or avail of their services through Bitcoin transactions. Curious to know which stores are they in?

  • Overstock — an online retailer that is known to accept Bitcoins
  • Home Depot — a home improvement chain based in the United States that is known to accept Bitcoins.
  • Newegg — an electronic retail company that allows a bitcoin holder to pay for its stock through Bitcoins
  • Shopify — an e-commerce platform that contains every need of a domestic home.
  • Microsoft — No need to introduce this, one of the biggest companies globally.

Avail Services Online

You may not be aware of the fact but Bitcoins have also revolutionized the service-providing industries. Big telecommunication companies provide their services using Bitcoin payments. Though the number is less, and it is rare to find trusted companies who accept bitcoins, here are some examples –

  • AT&T — a cellular service provider.
  • Dish Network — an American direct-broadcast satellite service provider.
  • Twitch — a live streaming platform.
  • ExpressVPN — a high-speed, secure VPN network.
  • WordPress — an open-source content management system
  • NordVPN — VPN provider based in Malta.
  • ProtonMail — an end-to-end encrypted email provider.
  • Vultr — web hosting company.
  • Reddit
  • Namecheap — web hosting and domain name provider.
  • Bloomberg, Chicago Sun-Times

Buy Jewelry And Expensive Watches 

Certain high-end jewelry stores have been accepting Bitcoins. An online retailer, BitDials, accepts Bitcoins in exchange for high-end watches. They provide watches such as Rolex, Patek Phillippe, etc. Frank Muller, a luxe watchmaker, launched a watch with diamonds gold with the QR code gene of Bitcoin.

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