Money is hard to come by. More so these days. And while this is the reality for most of us, scams and other types of dubious activities run by shady individuals are all over the net. But life gets in the way and major purchases can still come right in front of you. Sometimes these big expenses are inevitable. Very inevitable. So is there another way to earn and get by?
Understanding Bitcoin
Satoshi Nakamoto created Bitcoin in 2009. This was made as a medium for daily transactions, helping people make purchases from a simple beverage all the way up to even a car. It’s been a roller coaster ride of changes all through the years from fluctuating price ranges as well as demand, but today in 2024, there is still a very wide range of products and services that can be purchased depending on the current Bitcoin price. However, recent developments like Bitcoin runes aim to improve Bitcoin’s scalability and efficiency, potentially making it an even more viable option for everyday transactions.
Using Trends to your Advantage
A really good strategy for being able to utilize the purchasing convenience of Bitcoins in general is to learn about the trends that control its range. Just like in the stock market, buying low and selling high is the key. There are accounts online that state that they had a range of 10% up to 200% potential earnings.
Purchasing using Bitcoin
So can you use it for big purchases and investments? Technically, yes. Just like with real money, saving it for a while is a good idea. But of course you would need to learn more about it as well. Mix that with the use of trends and being able to ride the wave when you need to so to speak.
There are ways to buy things using Bitcoin. One way is with cards preloaded with the cryptocurrency of your choice. When you spend your crypto using these cards, the retailer receives fiat money as payment. This is safe and legitimized because crypto debit cards, like the Bybit card, partner with payment processing companies such as Mastercard and Visa.
Things you could possibly buy
Depending on the current range of Bitcoin pricings, there are a lot of things you could purchase. Especially today. Here are a few examples.
Insurance – While this may not be as exciting, as you age through time, this expense will seem more and more important. Swiss insurer AXA back in April of 2021 started to accept cryptocurrency as one of their modes of payment. This goes for all of their available insurance types except life insurance.
Jewelry – This may very well be one of the more enticing possible purchases. Just like any other industry out there today that has to adapt to future processes, online luxury retailers such as BitDials are offering Rolex, Patek Philippe as well as a lot of other high end watches in exchange for Bitcoin or any other cryptocurrency.
Various products from E-commerce – A lot of companies that sell tech related products do accept cryptocurrency. These include AT&T, Newegg and Microsoft. Sites like Shopify as well as Rakuten, the Japanese e-commerce brand, accept Bitcoin as payment for the products they sell.
Subscription to News and Media – Time Inc. the magazine publisher started accepting cryptocurrency back in 2014 for digital subscriptions. This led to a cryptocurrency partnership with Crypto.Com in 2019
Last but definitely not the least ..Cars – That’s right. Big car brands such as Lamborghini and Tesla have already joined the list of companies that help you purchase cars using Bitcoin. This of course leads to other possibilities such as being able to purchase your own family car.
Is Bitcoin convertible to Cash?
While Bitcoin has many uses, converting it to cash when needed is straightforward. Cryptocurrency exchanges are digital marketplaces where you can convert your BTC to USD or other government-backed currencies (fiat currency). This is a digital marketplace where traders can buy and sell Bitcoins using a variety of different kinds of fiat currency otherwise known as altcoins.
You can also use things like online exchange accounts that are linked directly into your bank account. That way you have a direct source of it being converted into cash. There has also been the existence of cryptocurrency ATMs popping up recently. These serve the same purpose of exchanging your Bitcoin into cash. ATMs however will then require you to give out your personal information – which is what cryptocurrency was made for in the first place, avoiding giving out personal information. However if you really are strapped for cash, this is one of the ways to go.
In the end, there is actually a really long list of products from food, subscriptions all the way up to different types of services that can be purchased by Bitcoin. Big or small. This has been more and more apparent as both consumers and vendors keep getting comfortable with the use of virtual money.
