The many uses of Bitcoin

Some of you might ask what can I do with Bitcoin?

To answer that question, think of Bitcoin as a normal currency that you use everyday (US$, € or even £).

So, technically you can spend on ANYTHING with Bitcoin with one caveat. That is the merchant(fancy term for anyone operating the business) must first accept Bitcoin transactions.

Currently, the novelty factor among merchants in accepting bitcoin died down due to increasing bitcoin transaction fees and volatile price movements.

However, at the time of writing, you can still buy a wide range of goods and services with Bitcoin.

One could use bitcoin to buy gift cards (Gyft or eGifter), pay for flights and accommodation (Expedia, CheapAir) and even get the latest movies, games and app-based services from Microsoft.

Several musicians such as Bjork will let you download their music with Bitcoin.

If you are interested to have another inflation proof asset, gold, several firms such Sharps Pixley, APMEX and JM Bullion can now exchange your Bitcoin for gold.

Several private, public universities and preschools also accept bitcoin. Some legal and accounting firms also accept payments in Bitcoin.

As you can see there are still several retailers that accepts your purchases in Bitcoin. You can tell/correct me with what one can do with Bitcoin by commenting in the comments section below. Thanks for viewing and stay tuned for the next blog post.