Top 5 Bitcoin Use Cases: Where Can I Use This Popular Cryptocurrency?

People invest in Bitcoin (BTC) to make a profit, but what to do with the gained coins on your account, except to change them to fiat currencies? These assets can be used not only for savings or trading but also for making purchases.

The attitude towards the main cryptocurrency of the world is gradually changing: from complete distrust to restrained optimism towards digital payment assets.

📌 Where Can I Buy Bitcoins?

Bitcoins can be bought on popular crypto exchanges, their websites, and in applications of crypto wallets. If you want to buy your first digital currency at a favorable rate, you can explore the ownrwallet app. The developers have creatively approached the design of the mobile application so that it is user-friendly, and you can easily understand the functions, while a reliable protocol will protect your assets. The wallet is multifunctional, so you can easily interact with 9 coins and all ERC-20 tokens, send, receive and withdraw your crypto.

📌 Where Can I Pay With Bitcoins?

Fully or partially, Bitcoin as a means of payment is accepted in many countries such as Japan, El Salvador, Canada, the USA, Denmark, France, the Netherlands, the UK, Estonia, Germany, Switzerland, Singapore, Georgia, Venezuela, Australia, and some more.

📌 How Can I Buy With Bitcoins?

One of the ways to buy things with BTC is to use a crypto debit card. While you spend cryptocurrency on your side, the retailer receives fiat money. Crypto debit cards cooperate with Visa and Mastercard to ensure that transactions occur smoothly.

📌 What Can I Buy with Bitcoins?

Although Bitcoin is usually used as an investment or trading tool, it was originally developed as a payment system. The number of institutions accepting Bitcoin goes up annually. So far, several real estate purchases have been registered, but this is also possible with BTC. As a common customer, you can buy goods on e-commerce websites. For example, Microsoft has been accepting Bitcoins for use in its online store since 2014. Let’s see more popular ways to spend your crypto.

✅ Retail trade

One of the first companies that accepted Bitcoins for payment was the American Overstock store. In 2014, it allowed clients to pay with cryptocurrency for some household goods and electronics. The prices in BTC in this store are tied to the dollar. During payment, coins are withdrawn from the client’s wallet at the current exchange rate.

✅ E-commerce

Amazon customers can buy almost any product for Bitcoins. An e-commerce platform Shopify and the Japanese platform Rakuten also accept Bitcoin for payment. Among companies that primarily offer tech products are Newegg and AT&T.

✅ Services for travelers

Travelers do not have to pay in fiat to buy a plane or train ticket. Bitcoin is accepted by several popular platforms like Bitcoin. Travel, CheapAir, AirBaltic, Expedia, and Surf Air.

✅ Real Estate

A £350,000 house in Essex, the United Kingdom, became the first house sold for Bitcoin in 2017.

Many realtors specializing in cryptocurrencies have appeared.

• The Swiss consulting firm Bithome offers real estate throughout Europe, America, and Asia for Bitcoin.
• The Spanish OpenHouzz platform from Caliber & Partners represents about 200 real estate properties throughout the country.
• Since April 2020, the company We Work has been accepting payment for its co-working spaces in Bitcoins.
• In April 2021, the Argentine online trading platform Mercado Libre supported the initiative of colleagues.

✅ Fast food

Since 2019, a Bitcoin payment program has been operating in Burger King restaurants in Venezuela. Also in Venezuela, you can eat at Pizza Hut for Bitcoins and Ether (ETH). Now Starbucks customers can pay directly with Bitcoins thanks to a partnership with the Bakkt digital wallet provider.

📌 Pros And Cons of Cryptocurrency Payment

One of the main disadvantages of Bitcoin payments is slow transactions. However, experts assure us that the situation will change soon. Today, the next block in the Bitcoin network needs no more than 10 minutes to be created. What’s more, experts and developers are searching for ways to speed up transactions with a minimum fee.

Among the advantages of paying with cryptocurrencies is the transparency of transactions. Both the seller and the buyer can track the status of the transaction and its details. A great benefit is anonymity and transaction security. At the same time, the buyer does not pay an inflated commission to the intermediary bank.

Among the disadvantages is the constant volatility of cryptocurrencies, which is hard to predict. It is important to remember that payments in cryptocurrency are irreversible. That is, if a user makes a mistake in the transaction’s address and sends a payment, it cannot be refunded or canceled.

📌 Is There Any Sense in Buying Things With BTC?

Initially, Bitcoin was created as a means of payment that would not depend on states and banks. Now cryptocurrency is perceived more as an investment tool. However, it may even be more profitable to make some purchases with Bitcoins, especially if the exchange rate increases after buying coins.