4 Ways to Spend Your Bitcoin

Image by MichaelWuensch from Pixabay

So you’ve taken your first steps into the world of cryptocurrency and you hold some Bitcoins in your cryptocurrency wallet of choice. What next? The good news is that the world is becoming increasingly more open to embracing cryptocurrencies, with the Central African Republic recently following the example of El Salvador and adopting Bitcoin as legal tender.

Having said that, not everyone is as receptive to this disruptive new form of financing. While the list of shops and stores that accept Bitcoin is growing by the day, it can still be tricky to find somewhere which does. If that sounds familiar to you, here are a handful of suggestions on how you can spend your own crypto assets safely and enjoyably.

Buy a gift card

While you might not be able to directly purchase your favorite goods and services using Bitcoin, there are third-party portals which will sell you a voucher for most of the biggest retail sites in cryptocurrency. This allows you to circumnavigate the suspicion with which many retailers still regard crypto and get your hands on the items you want by opening your digital wallet. Then you can either give the gift card to your nearest and dearest – or else spend it yourself.

Visit an online sportsbook

Are you a football fan? Do you like to make the outcome of a match more interesting by laying some money on it? If so, you’re in luck. The advent of Bitcoin betting with football has made it easier than ever to place a wager on the market of your choice, with a wide range of matches and in-game events to choose from. Cryptocurrency also has a host of other advantages when it comes to online gambling, including enhanced anonymity, privacy, efficiency and costs.

Donate to charity

There’s nothing quite like the warm fuzzy feeling you get inside when you donate money to a good cause. The good news is that a wide variety of charities, including big names such as Greenpeace, Wikipedia and the Red Cross, now accept donations in crypto form. That’s not only convenient, but also allows you to track the final destination of your money through the blockchain ledger and ensure that it’s actually going to the right place.

Buy an NFT

Are you familiar with the term NFT? Short for non-fungible token, it’s a new investment opportunity which allows you to own the rights to digital artworks, among other virtual assets. There has been major interest in NFTs of late, with a whole host of celebrities jumping on the bandwagon and buying up NFTs for sums as high as tens of millions of dollars. Not only is it a cool piece of artwork to keep in your digital wallet, but it could also be a smart investment move if the NFT appreciates in value.

Don’t let your cryptocurrencies sit idle. Just because not every retailer and service provider has woken up to the immense potential offered by Bitcoin, that doesn’t mean you won’t be able to find a good home for them online. The above four options are just some of the ways in which you can spend your hard-earned Bitcoin.