Is it possible to use Bitcoin in your daily life? Yes. And it’s easier that you might think.
You don’t need to be a financial mogul or some kind of crypto hacker to use Bitcoin for multiple purposes.
And don’t let all those specific words like “wallet”, “exchange”, “mining” and “HODL” to make you feel miserable and shamed.
Any technology is indistinguishable from magic until it gets explained.
In this post I will explain how to use Bitcoin in your daily life even if the most advanced technology you use is a dish washing machine.
What is Bitcoin
First, let’s do a brief round up.
Bitcoin (BTC) is the first cryptocurrency ever created. And it is still the most powerful and influential.
The cryptocurrency market itself is mostly defined by the success of Bitcoin. It still represents almost half of the crypto market capitalization. Some experts say there are things threatening to kill Bitcoin. But it is not likely to happen any time soon.
All other coins, which we usually call altcoins because they are alternative to the almighty Bitcoin, can’t get even close.
So, if you are new to cryptocurrency, sticking to the mainstream token would be a wise decision.
Altcoins might be more profitable in some scenarios. Or even more convenient for some purposes. But only advanced users can benefit from that.
For a newbie, Bitcoin is the way to go with cryptocurrency.
Simple ways to use Bitcoin in your day to day life
Sceptics say cryptocurrencies aren’t suitable for everyday usage. The argue that the exchange rates are to volatile and the transactions are way to slow to compete with fiat money.
While they might have a point with both these thought, it is fundamentally wrong to say Bitcoin is not suitable for everyday use.
Take a look at these three ways to use Bitcoin in your daily life. You might be surprised, how easy it might be and how many advantages you can get.
Purchase something online with BTC
Yes, it is possible to shop online with Bitcoin.
According to different studies, in some countries of Europe Bitcoin has already become payment means number 3 after PayPal and PostePay for online purchases.
It amazing that Italians and Germans are using Bitcoin more often than Visa or Mastercard when buying something over internet.
You’ll be surprised to see how many goods are actually sold nowadays for crypto. That includes villas and cars, goods from Amazon and even subscriptions to online services.
In some countries even local businesses are going crypto, allowing you to pay your dentist with BTC.
In 2021 over one million people a day transacted Bitcoin. Of course, not all of these transaction went to online sales. But quite a huge part, for sure.
Save a little BTC daily
While many people are still scared to move their fiat savings into BTC, the most important cryptocurrency performs surprisingly well.
Bitcoin has been the best performing asset for the last 10 years. In long term, it has enjoyed the kind of growth any other asset would simply envy.
People who invested in Bitcoin 10 years ago are now extremely rich.
When you hear something bad about Bitcoin volatility, just know – that’s the kind of skepticism you can easily ignore.
Negative coverage of Bitcoin in media is often caused by its challenge to centralized authority.
And that has been subject to change recently as more and more countries legalize crypto and digital assets.
There is one key factor that will always drive Bitcoin prices up. It’s the limited supply. There are only 21 million of BTC to be released. Almost 90% of them are already mined. The finite number means it would be impossible to manipulate the inflation. As the demand rises there will be no more BTC available at the market. And that means the value of the existing BTC in limited supply will only grow.
So, if you have some money to spare, try to put them into BTC.
Even small investments today can bring significant results in future.
Transfer any kind of value with Bitcoin
In the world of fiat money very simple things sometimes just cannot be done with easy because of myriads of strange obstacles.
That’s the very problem millions of Ukrainian refugees are experiencing in Europe today, for the example.
They go to Europe with some saving in cash (Ukrainian hryvnya – UAH, mostly). Banks in most European countries do not accept UAH, so it is a problem to exchange UAH for Euro. And there is absolutely no way to transfer UAH to your bank card. And then to transfer the funds to your relatives in Ukraine.
You can see the other side of the story when you think of people who are left in Ukraine and want to transfer some money to their families, who fled to Europe. Western Union and other services of this kind charge something like 15% for their services. Which is quite a lot. Especially if we are talking about struggling refugees.
A Bitcoin transfer from one wallet to another might take just a few minutes to accomplish. Which is often less than the time you spend standing in line in the Western Union’s office.
And the fee for such a transfer would be just a couple of cents.
Last but not least, you can transfer BTC privately at any time you need. Late at night is no problem at all. Do I need to remind you about those working hours at banks? And those transfers you make on Friday, but for some reasons the bank will accomplish only on Monday? Oh yeah, those validations. It’s really important to know who transfers those assets and why.
That’s laughable when compared to fast and anonymous Bitcoin transactions.
Bitcoin is really your money. Only you decide what to do with it and how exactly.
And even absolute crypto beginner can take advantage of it with ease.
Sources: Medium
