Top 4 Ways to Use Bitcoin (BTC)

There’s no doubt that the cryptocurrency market has reached its best since Bitcoin (BTC) was recognized by the public. In fact, Bitcoin is now considered the largest and most valuable coin based on its market capitalisation.

Since Bitcoin was released, it is used to buy goods and services online. Moreover, one of the reasons behind the sudden popularity of BTC is its high value in the market resulting in a huge amount of return to users. With this, more people are getting more interested in how BTC and other coins work.

Betting

With several technological advancements, you can even do Bitcoin gaming and betting at your preferred sports betting or casino site. Just make sure that the site accepts digital currency as a form of payment.

Sports betting

With a reputable sports betting site, there are several betting markets available. All you need to do is to choose the market you are most familiar with for more chances of winning.

Believe it or not, the profitability of Bitcoin encourages punters to wager in the most crucial games and matches in the sports industry. Here are some of the famous leagues that you can start betting your BTC right now:

  1. Basketball – National Basketball Association (NBA)
  2. Soccer – English Premier League (EPL) and the Bundesliga 
  3. Mixed Martial Arts – Ultimate Fighting Championship (UFC)
  4. Cricket – Indian Premier League (IPL)
  5. American football – National Football League (NFL) 
  6. Baseball – Major League Baseball (MLB)
  7. Hockey – National Hockey League (NHL)

These are only a few leagues you can start betting on. Who knows? You might win a huge payout even if you placed a small amount of wager.

Casino betting

Unlike the early days of casino gaming, you can now play your favourite slot and table games at any time and wherever you are. Most casino sites also now accept the use of BTC as one of the major forms of payment. 

Trading 

With BTC’s high value in the market, it is also widely used in trading. All you need to do is to look for a reliable crypto exchange platform and digital wallet.

To get high returns, here are some of the basic tips you need to know: 

  1. Know how the value of Bitcoin in the market.
  2. Pick the best trading style and strategy (e.g. Buying during a bear market and selling during a bull market). 
  3. Choose how you want to get exposure when trading (e.g. Digital wallets or trading exchange platforms). 
  4. Decide whether you are in it for the long or short term. 
  5. Monitor the trading screens for potential upsells or fluctuations. 

Even with the high value of BTC, it is best to keep an eye out on how volatile the coin is. This simply means that its price may change at any time. 

Nevertheless, the huge advantage of investing and trading BTC and other coins is that it is decentralised. This simply means that the government and central authorities have no control over your transactions.

Buying Products and Services Online 

What’s a currency when you can’t make a simple transaction online? With Bitcoin, you can easily buy products and services as long as the merchant accepts digital currencies as a form of payment. While it’s still limited for now, you can certainly buy products like clothes or food using BTC. 

BTC FAQs

Here are the following frequently asked questions about Bitcoin for new users:

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Who controls the Bitcoin network? 

As a decentralised system, BTC is not controlled by anyone. Instead, it is controlled by all Bitcoin users around the globe. While software developers are constantly improving the system, they can’t change the nature of Bitcoin’s protocol because users are free to use any software they want. 

To remain compatible with each other, all users have to use software that complies with the same rules. BTC can only work right with the complete consensus for all users. Thus, all Bitcoin users and software developers are incentivised to protect said consensus at all times.

Like most financial assets, the ones that generally provide the highest chances for income generation are usually the most popular among the market participants. This means that BTC is constantly being traded to other crypto users that most out of any coin in the industry.

Some also speculate that because it’s the first of its kind, Bitcoin gained early rights to the market and provided brand awareness among crypto users that it is the best. Remember, something is only valued as long as the market dictates said value.

How difficult is it to use BTC as a form of payment?

Most people love to invest their BTC, but some actually want to utilise it as their secondary currency. Perhaps the shift to purely crypto takes some time, so people might assume that it’s difficult to process payments online.

However, you can easily do so with debit and credit card use and wallets applications that make the transactions very fast. All cryptocurrencies, for that matter, allow users to generally make the fastest payments online. 

What’s so great about today is there is even more intuitive technology to accommodate your payments even faster. The use of QR codes or NFC technology can even hasten the process even further by simply scanning codes to make instantaneous payments. 

Final Say 

With the flexibility of this coin, you can easily do Bitcoin gaming, trading, and selling products and services online. There’s no saying how long BTC can keep this up, but it has yet to disappoint users and maintain the quality of experience that they deserve.

There are a lot of advantages to using Bitcoin, and as the highest valued coin today, the hype surrounding it is truly justified in the end and is worth every penny spent. 

Together with the crypto market, BTC is undoubtedly growing every minute. Despite its constant fluctuations, it is still worth your investment especially if you know the ins and outs of Bitcoin and the crypto market. 

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Barbra Maranda

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