Bitcoin has received a lot of publicity over the past six months. Despite public awareness – and Bitcoin prices – reaching all time highs this year, there is still a great deal of mystery surrounding the cryptocurrency space.
As adoption becomes more widespread we are seeing many more companies accepting Bitcoin as means of payment. Unfortunately there is geographical variation in who can actually spend crypto to pay for goods, but integration is a great sign for crypto enthusiasts everywhere. The HODLers among us are hopeful.
So What Can You Do With Bitcoin?
You can use Bitcoin to make purchases through Paypal in the United States. Indeed, there are merchants all over the world who are prepared to be paid in cryptocurrency, but finding them can be a bit of a chore. You need to be very specific with your searches and the search results are not always particularly accurate.
Spend Cryptocurrency Online
Websites like cryptoemporium.eu are paving the way for crypto purchases. This peer-to-peer marketplace allows people to buy and sell goods using Bitcoin, Ethereum, Litecoin, Ripple and Dogecoin. It is making cryptocurrency transactions really easy and you can find anything from clothing and electronics to luxury apartments and villas all over the world. They even have Bitcoin Lamborghinis for sale!
Draw Cash From A Bitcoin ATM
We may be a long way from universal adoption, but if you want to access cash in the street then Bitcoin ATMs allow you to access fiat currency from your crypto wallet. Caution – some ATM fees make this a little bit less attractive to some people, but if you are ever in a bind you can easily get your hands on some cash. Coinatmradar.com shows you every crypto ATM site in over 70 countries. It is interesting to see how widespread the availability of Crypto ATMs is becoming, so watch this space.
HODL On To Your Cryptocurrency
One of the main reasons people have historically bought Bitcoin, and other cryptocurrencies like Dogecoin and Litecoin, is because they believe it will increase in value over time. Bitcoin is often compared to conventional assets like gold, and even commodities by some commentators.
What Does The Future Hold For Cryptocurrency?
Whatever happens in the future, the world is waking up to the idea that cryptocurrency is more than just an investment. It has not been long since the Bitcoin movement began, but it has quickly become a very valuable asset.
We are now seeing the emergence of more sophisticated markets – the fact that you can now buy a property using Ethereum shows how far cryptocurrencies have come since 2009. An entire ecosystem has emerged allowing people to trade without geographical barriers. Cryptocurrency is changing the way we think about money in the global economy.
While we are optimistic about the prospects there is a note of caution. Crypto markets are volatile and the landscape is ever changing. Individuals have lost money on their investments, while others have gained, of course.
Governments the world over have reacted very differently to these new technologies and the situation is ever-changing. Companies can change their stance on accepting Bitcoin payments at the drop of a hat.
There really is no certainty in the crypto world, other than that there is more uncertainty ahead. Enter with cautious optimism.
