Kwaraloaded Exclusive: What can Bitcoin be used for?

Bitcoin’s network is ever-growing. Some statistics have shown that there are over 5 million users worldwide and this number keeps increasing with each passing day.

Due to its popularity and the fact that it is so well-accepted, many analysts even suggest that it can become the global universal payment method in the distant future.

But, until we reach that point, there is nothing to do, but wait and see how the situation will unfold. These days, there are a lot of myths surrounding Bitcoin with the one that it has no value being the biggest one. We wanted to weigh in on this topic and debunk this myth by naming all of the things that you can pay for/use this cryptocurrency for. Let’s check them out.

The Obvious – Making a Profit

The number 1 thing that Bitcoin is used for is to make a profit. Let us explain how that process goes. Logically, to sell and make a profit with Bitcoin, you must first earn it. Bitcoins can be bought or mined. Buying them come with greater risk as you cannot be sure whether you will make a profit or not.

Mining is very hard, but free, which is why it is the better option of the two. This process is done by verifying and recording each transaction that is made with Bitcoin. While it may seem simple, it is far from it. You need to solve various complex puzzles to record these transactions and get rewarded with Bitcoins.

When you earn it, you go to trading sites, which can help you sell it as they are not just marketplaces. Reputable platforms such as Bitcoin Rush have incorporated advanced AI systems which take all the data on Bitcoin from the market and use it to determine its future price. In doing so, traders will know when is the best time to sell their Bitcoins and make the largest amount of profit possible.

Gaming/Entertainment

The second thing that you can use Bitcoin for comes in the entertainment sector, most notably gaming. If you are into online gaming, you can rest assured knowing that many online casinos now accept Bitcoin as a payment method. Due to the fact that it provides instant transactions, it is well-received by these sites. Some online casinos are even orientated solely on Bitcoin. Online casinos give you access to hundreds of quality games.

Other than that, if you want a more ‘commercial’ approach, you can use Bitcoin to buy yourself an Xbox. Microsoft is one of the global brands that accept Bitcoin as a payment method and you can use it to purchase their services and products. This gaming console is one of those products.

Book Hotels

Expedia is the world’s largest online travel agency and this company has always been a strong advocate of crypto, especially Bitcoin. That is why they accept it as a payment method for some of the services that they provide. With Expedia, you can use Bitcoin to book over 700,000 hotels worldwide.

The travel agency has stated that they are lobbying and planning to partner with air companies to provide people with the opportunity to even buy flight tickets with this cryptocurrency.

Buy a Tesla?

Many other notable brands accept Bitcoin – Starbucks, Wikipedia, Whole Foods, etc. The latest company to incorporate Bitcoin and invest in it is Tesla. This car manufacturer recently invested around $1.5 billion in Bitcoin. Since doing that, they’ve had a reported $1 billion in profit and they have stated that they are planning on incorporating Bitcoin as a payment method.

That means that you might be able to buy yourself a Tesla in the near future with this cryptocurrency.

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Author: Daniel Said✩✷