Best use cases of Bitcoin?
Bitcoin has become a trend already a few years ago. While many of us still wonder how an internet currency can be useful, there are actually many people already extracting tons benefits from not only bitcoin, but also other cryptocurrencies. Today we are going to focus on bitcoin only and we will highlight the best cases of bitcoin till date.
You will not be surprised, but, amazingly paying also costs money. When you are transferring money to someone using PayPal, there is a commission involved. Bank transfers also come with some costs. Needless to mention that credit card companies charge a few percents on each of the transaction a person makes. The reason for this is simple. PayPal has to keep its servers running, banks have to compensate for all of the infrastructure and employees and credit card companies also provide some additional services and discounts, and, generally, enable cashless payments. However, with the bitcoin it is possible to get all of the benefits without incurring any costs. As bitcoin operations depend on its users, there are no costs. Hence, when transferring bitcoin from one wallet to another, a person gets an exact amount that you sent. This is, however, not the case when 3rd party payment systems are involved.
Most of the people think that gambling is actually bad. We are not going to discuss that, but one thing is for certain – gambling is huge, especially online. The main disadvantage of online casinos is that once your identity is revealed and your gambling habits are spotted by the bank, you are actually risking to have your credit history weakened up quite a lot. This is why people care so much about not exposing their identity when gambling online. With the developments of bitcoin, recently quite a few websites started offering online bitcoin gambling. Meaning that a person does not have to exchange bitcoins to for dollars in order to play blackjack or any other game, but can actually use BTCs for playing.
Day trading has been known for years. The main thing that day traders are looking for is volatility and bitcoin does excel here. Unlike stocks, bonds, currency pairs or anything similar, bitcoin can supply a volatility that can be dozens time higher. Due to the availability of 24 hour trading 7 days a week, bitcoin has become one of the best currencies for online trading.
Savings and Investments
Just a few years ago bitcoin used to cost 10 times less than its value today. Where will bitcoin rate go in just a few years from now? Nobody knows, yet it is clear that soon the supply of bitcoins will end, and many people expect bitcoin price to go up quite a lot. For this reason, many people have started adding a healthy share of their savings in bitcoins. It is smart for a few reasons, first of all you are getting something that is very liquid. Secondly, you invest funds into a currency that has shown a great growth over the course of the last few years.