What can Bitcoin be used for?

What can Bitcoin be used for? Although Bitcoin is not widely accepted. Compared to the general currency such as the baht. or using a credit card But there are many organizations, banks, or merchants that have started accepting bitcoin payments. or the traditional financial system, whether.

Bitcoin is not widely accepted?

international transactions

You can use Bitcoin to transfer money abroad easily and quickly. The destination will be paid in just one hour. With a very low fee of just 0.4% of the transaction amount. Although the fees may be higher or lower. Varies by service provider But compared to the old way of doing international transactions. You may have to wait several days to receive your money. Must travel to transfer money at the counter by yourself They also have to pay a fee of hundreds of baht. Bitcoin can be considered a good alternative.

buy goods and services

As we have already mentioned That there may not be a small number of merchants currently accepting bitcoin payments. But you can use Bitcoin instead of cash to buy goods and services both online and in stores already. Giants like Microsoft have been accepting bitcoins for years. You can check out the stores that accept Bitcoin at Use The Bitcoin.

accumulate wealth

The price of Bitcoin may still be very volatile. For example, on March 13 Bitcoin fell 30-40% in one night during the COVID-19 situation, as stock markets, oil and gold prices also fluctuated. But in some countries where their currency is not stable, such as Venezuela, where inflation is high. Thus, millions may be left with zero value overnight. until people have to carry sacks of money to buy just one dish of rice Bitcoin is still a good way to save money.

currency trading

As we all know, the price of Bitcoin fluctuates all the time. making bitcoin trading It is another good choice for investors’ profitability. Trading Bitcoin is no different from trading stocks. You buy at a low price and sell later when the bitcoin price goes up. But compared to stocks Bitcoin price changes more frequently. and may be more volatile in the short term This gives investors the opportunity to make more profits as well.

There is also a group of people that we informally referred to as Hodlers, which comes from the misspelled Holder. This word originates from Several years ago, when the price of Bitcoin fell drastically, One guy on the internet posted that he would HODL, a misspelled Hold. He said he would definitely not sell. But the internet likes this misspelling. It has become an overnight meme and eventually become a buzzword. This group of hodlers believes that Bitcoin will become more and more popular, which means that the price of Bitcoin will continue to increase. As well, Hodlers buy bitcoins to keep for the long term as another way to save money.