Bitcoin’s Use Cases Are Still Emerging, But Here’s Today’s Top Methods And Applications
Top Bitcoin (BTC) Use Cases Today
In the last ten years, Bitcoin (BTC) managed to go a long way. From being an unknown, shady form of digital money whose creator was (and still is) unknown, it became the biggest and most respected cryptocurrency in the vast market that currently numbers over 2,100 coins. During the decade of its existence, many were skeptical of it, at first. But, as the time passed, and the coin stayed true to its cause, a lot of aspiring investors decided to give it a chance, and even some of the skeptics decided to join the crypto market.
Now, it is 2019, and while Bitcoin and other cryptos have a long way to go before they reach mainstream adoption, there are already a lot more use cases for the largest coin than there were in previous years.
The change in attitude did not only arrive from the fact that BTC never turned out to be a scam. The fact that using it brings a number of other benefits had a large impact as well.
For example, Bitcoin is decentralized, it never faces any downtime, it is pseudonymous, pretty much every exchange out there allows Bitcoin trading, and it is easy to buy it or sell it wherever you are in the world. It is becoming the internet of money, a universal asset that is receiving more and more acceptance, value, as well as new use cases.
Now, the main question is — what are those use cases? What can you actually do with Bitcoin in your possession, in this day and age?
1) You Can Quickly Send Money Internationally
Of course, there is the original use case that revolves around faster and cheaper money transfers to anywhere in the world. International transfers are troublesome when it comes to banks, as they always include large fees, as well as days to be completed. With Bitcoin, this can be done relatively easily. True, Bitcoin still has problems with scaling which are increasing the waiting period because of its popularity around the world. However, talented developers are working on a solution for this, which may even arrive at some point during this year.
If it does, smaller BTC transactions will be instant and much cheaper than they ever were in banks.
2) You Can Use It To Pay For Your Travels
As mentioned before, Bitcoin use cases are growing in number, and so are the companies that are accepting the coin as a legitimate payment method. Among the biggest examples of this are travel agencies, airports, and even hotels and car rentals. With Bitcoin in your wallet, you can access your money anywhere and at any time, which makes it easier to travel while still having your funds safe from theft or credit card issues. Microsoft-owned website called Expedia will provide you with a number of different services and firms that accept Bitcoin payments, which is something that travels could make excellent use of.
3) You Can Use It For Online Shopping
Back in 2017, Japan officially accepted Bitcoin as a payment method, which allowed many online shops to start accepting crypto payments in exchange for their products. The move was considered risky by many, but inspirational by others, and a lot of retailers have since started accepting Bitcoin.
The practice is still expanding rather slowly, but that does not mean that there are not a lot of options already. Websites such as WordPress accept crypto payments, many of the VPN services are willing to accept Bitcoin, and even the Icelandic singer Bjork allows her fans to purchase her album in exchange for Bitcoin.
While it is unknown when and if cryptos will reach mainstream usage that many in the community are expecting, there is still a possibility that someday, you will be able to pay with Bitcoin or some other crypto for any item you wish to buy, online and offline alike.
4) You Can Use It For Making Microtransactions And Gambling
Two areas where Bitcoin started feeling right at home were gaming and gambling. The gaming industry has exploded even more than cryptos themselves in the last two decades, and it reached around 2 billion people, at least. Now, online gaming is gaining more and more attention, which means that the interaction between gamers has grown, and in-game sales and purchases are becoming an established thing.
As part of the innovations, numerous companies allow gamers to sell in-game items in exchange for cryptocurrencies. Gamers can also purchase upgrades, new items, or anything else that the stores or other gamers have to offer.
As for gambling, there is no denying that it has an extremely strong presence on the internet. Gambling websites are among the more popular ones and those that use Bitcoin even more so. The possibility of earning is higher, while the costs are lower, which inspires gamblers to invest more and earn more when they win. Quick transactions are also much appreciated in the gambling sector, which makes Bitcoin a perfect choice when it comes to choosing the practical form of money.
5) You Can Donate To Charities
Bitcoin already has numerous use cases, but the noblest one by far is donating to charities around the world, which are doing their best to take care of those who need it. Countless areas around the world lack resources to provide people living there with basic living conditions, such as clean water, food, healthcare, or even shelter.
To help them, and make the best out of the new technology, many charities are accepting multiple cryptocurrencies. While the exact coins may vary from one organization to another, Bitcoin is universally accepted by all of those who are willing to work with crypto. Best of all, thanks to the transparent nature of Bitcoin and blockchain technology, as well as apps that some of the charities offer — you can immediately see how is your donation used, where it goes, and how it helps.