As more people and institutions begin to recognize the rise of bitcoin, cryptocurrency is entering the mainstream conversation. It’s on par with trading futures, stocks, options and other types of securities. However, if you’ve been in the intangible currency game since 2009 or are just starting, do you know the practical, everyday uses that your cryptocurrency has in 2018?
It turns out, as crypto is gaining its popularity, the ways we can use it in our everyday lives is increasing as well. Below, we detail four popular and convenient ways you can use your bitcoin today.
Top 4 Bitcoin Practical uses in 2018
Looking for another way to help that airplane ticket cost other than those miles you’ve been saving up? If you have some bitcoin to on hand, you’re in luck. CheapAir, a popular site used to find cheap flights, accepts bitcoin as payment for your trips. Along with booking a flight, they encourage travelers to add on hotel stays when booking, which means you can pay for both of these expenses with your bitcoin. Up until June 2018, Expedia was also accepting bitcoin as a payment method but recently discontinued this service.
Institutions and Service Providers
The Lucerne University of Applied Sciences and Arts in Switzerland, The King’s College in New York, The University of Cumbria in the UK, and FPT University in Vietnam are just a few of the academic institutions that accept bitcoin as payment for tuition. The schools’ plans for what they do with the bitcoin after accepting it ranges from holding it as investments to liquidating it weekly to get the most current value of the volatile currency.
Additionally, law firms all over the U.S. accept bitcoin as payment for their services. Firms in California, Arizona, Northern Virginia, Texas and more all allow customers to supplement their payment with the cryptocurrency.
Maybe the most well-known use for bitcoin is investing it. Since there is only 21 million that will ever exist in our world, as we continue to mine and bring more into circulation, their value is expected to rise as supply limits itself. Therefore, many people will save their cryptocurrency, wait for the value to rise past what they paid for it, and be able to make a large profit off their initial investment. Depending on what the value of bitcoin happens to do while holding yours and how long you hold it for will determine the profit you’ll make.
Microsoft allows customers to redeem bitcoin and add that money to their account. However, bitcoin cannot be used as a payment method for all facets of Microsoft. Customers that utilize bitcoin can only purchase games, movies, and apps in the Windows and Xbox stores, according to their website. This money cannot be refunded or used to purchase gift cards.
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