Despite being “mined,” spent and stored in a way that even the most technical people struggle to explain, Bitcoin has turned into a decidedly mainstream digital currency.
With a single Bitcoin now worth more than an ounce of gold, according to a report in Forbes, plenty of lucky and/or forward-thinking people are now sitting on virtual money that’s extremely valuable in the real world. Ars Technica recently reported that anyone who spent $1000 on Bitcoin back in 2010 and kept the currency now has a $35 million fortune.
Even if you don’t have a quantity of Bitcoin to place you on a “rich list,” being in possession of any leaves you with the question of how to spend it. This article explores three ways to lighten a Bitcoin wallet.
- Splashing Out with Mainstream Retailers
While it’s obviously nowhere near as widely accepted as cash, Bitcoin is welcomed to a surprising degree by a number of big-name online retailers.
Overstock.com blazed the trail for the big names back in 2014 when it started accepting Bitcoin, but since then other retailers have hurried to catch up. NewEgg and Expedia are among the others who offer it as a payment method. Smaller online retailers can get in on the act too – if they use Shopify to process their payments, since Shopify has given them the option to accept the digital currency since 2013.
- Having a Flutter
Bitcoin owners willing to stake some of their Bitcoin for the chance of adding to the pile now have the option of gambling directly using the currency. Bitcasino is a niche casino for Bitcoin, which works just like any other online casino with the only difference being that deposits, wins and cashouts are in the Bitcoin currency. To serious bettors, Bitcoin brings the added advantage of near-instant payments and withdrawals.
Subject to availability in the country you’re located, you can now gamble your Bitcoin – and if you’re someone who keeps an eye on its exchange rate value, you can combine a little currency speculation in the process.
- Establishing an Online Business
It seems rather fitting to spend an online currency like Bitcoin on other online endeavors. Thankfully, if you’re looking to establish a website or online business, you’ll be able to get everything off the ground and pay the expenses entirely in Bitcoin.
Namecheap has been accepting Bitcoin for four years now, so that will take care of your domain registration and hosting. Then, for any website bells and whistles, you can look to WordPress.com, who will take Bitcoin for all of their online services.
More and more places, both online and offline, are now happy to take Bitcoin payments – something that speaks volumes about the perceived longevity of the currency. Where Bitcoin acceptance was once seen as a bit of a gimmick or a way to earn some PR coverage, it’s now widely accepted as a legitimate and worthwhile payment method.
You can already buy a new outfit, head off to a hotel, work on a new business and then play some games online – all with Bitcoin. One wonders what you won’t be able to do with it in the months and years to come.