what is bitcoin used for
Need to know what is bitcoin used for? Discover what people are using bitcoin for, what are the benefits of using bitcoin and how to get bitcoin.
What is bitcoin used for?
We use bitcoin for a variety of things. It has the same uses of the physical cash in your pocket today. What things do you normally use you cash for?
- to shop online
- to buy house furniture
- to pay for college
- to pay for bottles at the club
- to buy a new car
- to trade for gold
- to invest in stocks
- to buy food at the mall
- to pay your bills
- to buy movie tickets and entertainment
- to go on vacations
- to send family money overseas
The list is really endless. Can you do all of these things and more with bitcoin? Yep. Sure can. The uses of bitcoin are the exact same as regular money. The only difference is the benefits of using one over the other . I explain the benefits below:
What are the benefits of using bitcoin?
- No Government Control or country controls bitcoin or cryptocurrency ( you can setup, use, access it without any prerequisites)
- You own it – Accounts cannot be frozen for any reason or put on payment holds like the traditional bank
- Inflation Control – More bitcoins cannot just be printed
- No Fees to send the bitcoin money ( think western union or international funds transfer at your bank)
- Fast – Instant money transfers across the globe (takes only a few minutes for computers to verify funds transfers)
- Easy to carry – $1Billion worth of bitcoin can fit on a USB stick or one small paper wallet.
- Anonymous Accounts are encrypted so your personal info not tied to transactions
- Trade for Real Cash – You can download the money and get physical cash at Bitcoin ATMS
- Profit off of it – if you keep it and the price goes up you can sell it later and keep the profit
- Alternative Income – Accept other forms of payment when your customer doesn’t have cash to spend
- Low Fees – Bitcoin Payment Processor fees are ridiculously low compared to Major Credit Card companies, Banks and Paypal
- No chargebacks ever – Bitcoin transactions are irreversible, so you don’t need to worry about chargebacks.
- Fraud Prevention – People using bitcoin get a level of identity theft protection that credit cards cannot offer.
- No hold-ups on your money – Accepting bitcoin payments gets you cash faster than it does when you accept credit card payments.
- Be the cool kid on the block – Many people will shop with you and tell there friends just BECA– USE you accept bitcoin.
How can I get Bitcoin?
- you can use computers to mine for them – (at home)
- you can pay a service to cloud mine for them – (remote)
- you can buy them from online exchanges (online)
- you can exchange your other cryptocoins for bitcoins (online)
- you can accept payment in bitcoins from sales or working for your employers (in real life or online)
- you can gamble and win them (online)
- you can have your friends or family send bitcoins to you
I hoped this helped you get an understanding of what bitcoin is used for. If you need more information, I would be happy to help answer any questions you have. Please tune into Coin Cutie TV on youtube or the best news and product reviews on bitcoin and cryptocurrency.
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