What Can I Do With My Bitcoin?
I have Bitcoin but I don't know what to do with my Bitcoin. One thing is to have possession of BTC and another thing is knowing how to use Bitcoins.
If you find yourself asking How Can I Use Bitcoin? then this post is specially written because of you.
So you were told to buy some Bitcoin and now its time for you to learn exactly how to put them in use.
I'm sure you know about the Volatility of BTC and the market cap.
How Can I Use My Bitcoin?
From my own experience of using Bitcoin, I have discovered that there are 3 primary reasons why people use BTC which are Listed and explained below.
Store of Value
Bitcoin as a Digital Gold is considered a store of value by many while most people don't see it as a store of value because of its Volatile nature.
A wide number of people buy and hold the Bitcoin with the hope of multiplying their money. And this is a basic way of Investing in Cryptocurrency.
This is because of the price of BTC Increases and Decreases within a short period.
Medium of Exchange
Now Lots of businesses accept Cryptocurrency as payment for goods and services.
You can also sell your bitcoin in exchange for Cash.
Anonymous Funds Transfer
Bitcoin transactions are anonymous and untraceable meaning that one can not be able to identify the sender and the receiver or even from where a bitcoin was transferred from and to.
making it hard for the Gov't to control it and one other reason why I love BTC is there is no limit to how much you can transfer at once.
The definition of how you use your BTC is a bit circular. Something that has value is utilized in almost every way possible.
Remember it is your Bitcoin, you have the choice to use it for any purpose. so there you go, That is basically everything you need to know regarding the question "How Can I Use My Bitcoin?".
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