It feels like Bitcoin has only been around for a few years. In reality, it’s been in circulation since 2009 – which is well over 10 years ago.
Recently, you’ve probably seen all of the hype and discussion surrounding Bitcoin on social media and felt the urge to invest. Or, if you’re already an investor, you might have been dabbling in Bitcoin for a while.
Whatever the case may be, when you actually own Bitcoin, you can use it in a variety of interesting ways, some of which you might previously have never heard of.
Excited to learn more? Check out the 5 suggestions below.
1. Play in a Bitcoin Casino
The internet is home to hundreds of online casinos. After seeing Bitcoin become popular, some of these casinos began to accept this cryptocurrency as a payment and payout method. This means that gambling fans’ long-time favorites, such as poker, baccarat, slots, blackjack, and even keno, are all available to play using Bitcoin – much to crypto fans’ delight, too. But how does it work, exactly?
Take the latter game, for example; keno is a classic game, and the player’s objective is simple. Usually, there are 80 numbers, and 20 of them are chosen randomly. The aim is to pick as many of the 20 numbers as possible before the draw is made in order to receive the largest payout. If the player wins the Bitcoin casino keno game, the crypto token payout goes into their digital wallet instead of conventional currency – easy! Ultimately, the combined popularity of cryptocurrency and casino games makes these two hobbies a gambler’s favorite.
It’s worth highlighting that Bitcoin casino games are no different from standard casino games – the only difference is that you’re playing with Bitcoin rather than a traditional currency like the US dollar. Whether it’s online roulette, slots, or video poker, all of the game rules remain the same.
So, if you’re a fan of gambling and have a little extra Bitcoin to spare, using it to have some fun in a cryptocurrency casino could provide some easy entertainment. Just remember to gamble responsibly and treat your Bitcoin the same way you would a traditional currency.
2. Buy a Car
If you have a lot of Bitcoin, you might have enough to purchase a car. Not too long ago, Tesla was accepting Bitcoin, but it has recently made some changes where you can no longer do this. Instead, Tesla only accepts Dogecoin, which is another type of popular cryptocurrency on the market that Elon Musk himself has endorsed.
However, other car companies – such as BMW – accept Bitcoin for particular models in their range. If you’re willing to do so, investing in a car via Bitcoin could be an excellent long-term choice that saves you a ton of money.
In the future, if Bitcoin continues to perform well (which is highly likely), then it’s possible Elon Musk will allow Tesla to start accepting Bitcoin once again. Thousands – if not millions – of people could eventually be driving electric vehicles on the road that were specifically purchased with Bitcoin. Pretty exciting, right? It’s a sign of the times to come.
3. Get a Luxury Watch
Check this out: some luxury watch companies now accept Bitcoin. What this means is that you could finally get your hands (literally) on the Rolex you’ve always dreamt of.
If you like, you could even build your own collection of luxury watches and then attempt to sell them at a profit.
4. Hold (and Then Sell High)
Many people take the classic investment approach with Bitcoin by holding it (keeping it stored in a digital wallet) before then selling it when the market prices go up. Sometimes, it can take weeks, months, and even years until the right margin appears for you – but it’s usually worth it in the end.
Of course, there’s a slight risk involved in this, which is that Bitcoin’s market value could actually go down over time (leaving you with a loss on your investment). Interestingly, though, even if Bitcoin’s value does go down in 2023, there’s a strong possibility that it will suddenly skyrocket again. This is the volatile nature of the crypto market: you can never be quite sure what’s going to happen!
For help with this, it’s always best to check the price index of Bitcoin while keeping up-to-date with all the current news surrounding it. Whenever a big celebrity or company publicly supports Bitcoin, it usually leads to a market value increase, which is always something to look out for.
5. Purchase Microsoft Products
If you’re a fan of all things Microsoft, then you might be interested to know that you can fund your Microsoft account with Bitcoin. After doing this, you can then purchase a variety of different products from the Microsoft store, such as XBOX games and music.
Interestingly, Apple – the big rival of Microsoft – has yet to start accepting Bitcoin or any other cryptocurrency as a payment method. In the future, though, this is likely to change, especially if Bitcoin’s market value goes up in 2023.
There you have it, 5 interesting ways to use bitcoin.