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5 Uses of Bitcoin You Might Not Know About

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One of the things people worry about when they’re considering buying Bitcoins is pretty straightforward: is anybody really using them and if yes, what is the use of Bitcoin? The price of Bitcoin has become impressive over the last couple of years, and it’s clear that the cryptocurrency is here to stay. But we still don’t live in a world where we casually conduct day-to-day transactions with digital currency—or at least, most of us don’t.

That doesn’t mean that Bitcoin isn’t being used more frequently all over the world! Here’s a look at some Bitcoin uses you may not be aware of. Surprisingly, they don’t get that much press coverage.

You Can Buy From Major Online Sites

You might think of Bitcoin the same way you think of, say, Apple Pay. Functionally, it can feel somewhat similar. You can use it at participating merchants to pay for goods and services through your phone. There are also major companies accepting Bitcoin payments online, which means you can now buy products from the likes of Target, CVS, WordPress, Victoria’s Secret, PayPal, and Expedia, as well as several other companies. We seem to be on our way to a world in which many if not most online payments can be conducted via Bitcoin.

You Can Play Online Casinos

In a move that should probably have generated a little more attention online last year, the UK Gambling Commission gave its seal of approval to Bitcoin. This meant that all of a sudden casino sites working with millions of gamers were free to explore the idea of accepting Bitcoin payments. Some are starting to do so now, which means should you choose to you might be able to engage in online gaming through Bitcoin transactions.

You Can Get Into eSports

Because they tend to generate some of the buzz in the tech and cryptocurrency communities whenever they make a move, the Winklevoss twins made headlines when they partnered their own Bitcoin exchange with an eSports organization last summer. But while this is exciting because of who’s involved, it’s also indicative of a larger trend by which eSports—an entertainment business enjoying massive worldwide growth—is fully embracing cryptocurrencies.

You Can Take An Uber In Argentina

This is clearly a more specified use of Bitcoin, but it’s an interesting one nonetheless. Argentina has popped up in a lot of Bitcoin headlines in the last year or two, largely because the economy is struggling to the point that cryptocurrency has become a very important alternative for many citizens. Accordingly, when the Argentine government gave Uber a hard time and restricted credit card companies’ association with it, it was Bitcoin that saved the day. Now, even if you can’t use a standard card or account to pay for an Uber ride in the country, you can do it with a cryptocurrency.

You Can Visit A Tiny, Fake Nation

This isn’t really a serious point, but it’s a fun one to know about for Bitcoin enthusiasts. There’s currently a tiny island near Portugal that is branding itself as Atlantis and claiming to be a sovereign nation. Its prime minister, Joby Weeks, has said that it will be the first nation in the world to adopt Bitcoin as its national currency. Hey, at least it’s a progressive place!

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  3. Months before the filing, the popularity of Mt. Gox had waned as users experienced difficulties withdrawing funds. Bitcoin was to be accepted for ticket and concession sales at the game as part of the sponsorship, and the sponsorship itself was also paid for using bitcoin.

  4. The central bank will keep watching risks from Bitcoin, which is fundamentally not a currency but an investment target, Sheng Songcheng, head of the monetary authority’s statistics department, told reporters in Beijing on Jan.

  5. Fortunately, volatility does not affect the main benefits of Bitcoin as a payment system to transfer money from point A to point B. It is possible for businesses to convert bitcoin payments to their local currency instantly, allowing them to profit from the advantages of Bitcoin without being subjected to price fluctuations. Since Bitcoin offers many useful and unique features and properties, many users choose to use Bitcoin.

  6. The way Bitcoin works allows both individuals and businesses to be protected against fraudulent chargebacks while giving the choice to the consumer to ask for more protection when they are not willing to trust a particular merchant. Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange.

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