As time passes and technology grows in relevance, we are continuously seeing new trends, inventions, and norms come into society. Some stay popular while others are just a fleeting moment, but either way they are guaranteed to get a lot of exposure. One of these recent trends is a crytocurrency (cyber currency or digital money that is exchanged over the internet and is not backed or supported by any form of government – not to be confused with companies like Paypal that work with real money) company called Bitcoin, started in 2009. Bitcoin is the most talked about and most used cryptocurrency in the world.
But what can you do with your bitcoin, once you've gotten started? So you get bitcoins, and now you're lost as to what to do with them. We're going to cover a couple of things you can do with your new bitcoin currency.
Bitcoin trading may be the most popular option, however also possibly the riskiest. With this option, you can trade your bitcoins for dollars (the United States dollar) in the bitcoin exchange. However, the value of one bitcoin varies greatly even multiple times in one month. In November of 2013, bitcoin value jumped from approximately $200 in the beginning of the month to just over $1,000 at the end of the month. In December, the value went back down to $420 and then back up again to over $1,000. If you can master the constant changes, trading might be a good option for you to make some tangible money.
Outside of bitcoin trading, there are also many a bitcoin market online made specifically for purchasing a variety of different things with your bitcoin currency. The things sold on these sites can range from subscriptions to gift cards to high end items. There are also mainstream companies like Overstock that have jumped on the Bitcoin bandwagon and allow payment with the currency. Purchasing items with bitcoins does not only occur online, however, as there are several Bitcoin restaurants and coffee shops designed to accept bitcoin currency (some even go as far as to only accept bitcoins).
Clearly, although it may not be a very universal form of currency yet, you can use Bitcoin for a lot of different of things. You can purchase things ranging from common household items to gift cards, video games, food, and even flights, hotel rooms, and cruises. Car dealerships and gas stations are even starting to make their way into the industry. Clearly, Bitcoin is still growing, spreading its virtual currency into every area of sales. Who knows, Bitcoin might eventually be our sole form of currency!